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dLocal posts 92% surge in quarterly total payment volume
Second-quarter total payment volume rose to $17.7 billion, while revenue increased 56% to $399.7 million and gross profit reached a record $127.2 million.
dLocal reported second-quarter results highlighted by a major rebound in payment activity, with total payment volume reaching $17.7 billion, up 92% year over year, its strongest pace in more than four years. The company also posted revenue growth of 56% to $399.7 million and said gross profit hit a record $127.2 million, according to Yahoo Finance.
The payment processor attributed the performance to continued expansion among existing merchants, posting net revenue retention of 153% for the quarter and TPV retention of 188%. CEO Pedro Arnt said the quarter delivered the highest growth rate since the first quarter of 2022, the outlet reported.
Regional performance showed Brazil and Argentina driving record gross profit of $40 million and $20 million, helped by merchants in ride-hailing, travel and e-commerce. Yahoo Finance also noted local-to-local transactions rose to 61% of volume, up 6 percentage points from the first quarter, as on-demand delivery and ride-hailing scaled.
dLocal said it is also expanding beyond core processing, with buy now, pay later live in eight markets and a planned merchant of record service called dMore. The outlet added that CFO Guillermo Perez flagged potential upward pressure on the company’s effective tax rate starting in 2027 due to OECD Pillar 2 minimum tax adoption, though he said the impact cannot yet be sized.