DLocal (US:DLO)2023-08-16 12:24Financial Performance - Total Processed Volume (TPV) reached $44 billion, up 80% year-over-year (YoY) and 22% quarter-over-quarter (QoQ)[20, 21] - Revenue reached $161 million, a 59% YoY increase and a 17% QoQ increase[23] - Gross Profit reached $71 million, up 43% YoY and 14% QoQ[24] - Adjusted EBITDA reached $52 million, a 36% YoY increase and a 14% QoQ increase[25] - Adjusted EBITDA over Gross Profit remained stable at 74%[25, 55] Growth Drivers - Brazil revenue accelerated, doubling YoY, while Mexico grew 77% YoY in Q2 2023[31] - Africa & Asia revenue increased 152% YoY, but was impacted by ~$6 million due to the devaluation in Nigeria[32] Excluding Nigeria, revenues in the region increased by 52% YoY and 15% QoQ[32] - Pay-ins TPV reached $32 billion, representing 73% of total TPV, with a 70% YoY increase and a 27% QoQ increase[45, 46] - Local-to-local TPV reached $22 billion, representing 49% of total TPV, with a 128% YoY increase and a 33% QoQ increase[40] Strategic Initiatives - The company is focused on a 3-fold growth strategy involving geographies, merchants, and products[30] - dLocal developed a white-label scalable seller onboarding platform, split payment solution, and Smart Routing solution for a leading e-commerce platform, resulting in >100x TPV growth from 2Q21 to 2Q23[35, 36] - The company obtained the Payment Institution license from the Central Bank of Brazil, increasing its competitive advantage in the country[37]