Core Insights - dLocal achieved a record Total Payment Volume (TPV) of US$10.4 billion in Q3 2025, marking a nearly 60% year-over-year growth and the fourth consecutive quarter with over 50% growth [1][6][5] - Revenue for the quarter reached US$282 million, up 52% year-over-year, driven by volume growth [1][6] - Gross profit exceeded US$100 million for the first time, totaling US$103 million, reflecting a 32% year-over-year increase [1][6] - Net income grew by 93% year-over-year, amounting to US$51.8 million [2][10] Financial Performance - TPV reached US$10.4 billion, a 59% increase from US$6.5 billion in Q3 2024 and a 13% increase from US$9.2 billion in Q2 2025 [6][8] - Revenue was US$282.5 million, up 52% from US$185.8 million in Q3 2024 and up 10% from US$256.5 million in Q2 2025 [6][8] - Gross profit was US$103.2 million, a 32% increase from US$78.2 million in Q3 2024 and a 4% increase from US$98.9 million in Q2 2025 [6][8] - Adjusted EBITDA was US$71.7 million, up 37% year-over-year, representing 25% of revenue [10][12] - Adjusted Free Cash Flow for Q3 2025 was US$37.6 million, a 28% increase year-over-year [10][12] Profitability Metrics - Gross profit margin was 37%, down from 42% in Q3 2024 and 39% in Q2 2025 [6][8] - Operating profit was US$55.6 million, a 35% increase from US$41.1 million in Q3 2024 [6][8] - Net income for the quarter was US$51.8 million, or US$0.17 per diluted share, up 93% from US$26.8 million in Q3 2024 [10][12] Cash Position - As of September 30, 2025, dLocal had US$604.5 million in cash and cash equivalents, including US$333.1 million in corporate cash [10][12] - The corporate cash position increased by US$59.7 million from US$273.4 million as of September 30, 2024 [10][12] Market Position - dLocal operates a technology-first payments platform, facilitating local payments in emerging markets across over 40 countries [23]

Core Viewpoint - dLocal Limited has successfully closed a secondary offering of 17,250,000 Class A common shares at a price of $12.75 per share, with no proceeds going to the company itself [1]. Group 1: Offering Details - The offering included 2,250,000 Class A common shares from the full exercise of the underwriters' option [1]. - The underwriting group was led by J.P. Morgan, Goldman Sachs & Co. LLC, and Morgan Stanley, with BTG Pactual and Citigroup also participating as joint bookrunners [2]. Group 2: Regulatory Information - dLocal has filed an automatically effective shelf registration statement with the SEC for the offering, which was made only by means of a prospectus [3]. Group 3: Company Overview - dLocal operates a technology-first payments platform that facilitates local payments in emerging markets, connecting global enterprise merchants with billions of consumers across over 40 countries in Africa, Asia, and Latin America [5]. - The "One dLocal" platform allows global companies to manage payments, payouts, and fund settlements without the need for multiple local entities or payment processors [5].