DLocal (DLO) Investor presentation summary

Business overview and market opportunity

• Operates a multi-product payments platform across 60+ emerging markets, serving over 760 merchants and supporting 1,300+ payment methods.

• Total payment volume (TPV) reached $47B in the last 12 months, with an 88% CAGR from 2016 to 2025.

• Covers 71% of the world’s population in emerging markets, with 38 licenses across 26 markets and 16 more applications in process.

• Positioned to benefit from a $4.2T+ emerging markets digital payments opportunity by 2030, driven by low credit card penetration and high e-commerce growth.

• Provides a single API and contract for global merchants, simplifying regulatory, tax, and payment complexities.

Growth, innovation, and merchant relationships

• Achieved 30–60% CAGR in key metrics since IPO, including TPV, revenue, and gross profit.

• Deepening relationships with top merchants, increasing average countries and payment methods per merchant.

• Trusted by leading global brands such as Uber, Google, Microsoft, Netflix, and Spotify.

• Continues to innovate with stablecoin solutions, BNPL, smart routing, and expansion into new geographies and verticals.

• Net revenue retention rate for 2025 is among the highest in the industry at 125%.

Financial performance and efficiency

• Operating profit + D&A to gross profit reached 61% in 2025, outperforming peers’ average of 36%.

• Gross profit per employee increased to $317K in 2025, reflecting productivity gains from AI-driven automation.

• Adjusted free cash flow grew at a 38% CAGR, with strong conversion from net income.

• Maintains a net cash position with negative net debt and a leverage ratio of -1.4 in 2025.

• Return on equity improved to 35% in 2025, up from 25% in 2024.