• Reported GAAP EPS of $0.14 down -12.50% YoY • Reported revenue of $335.86M up 54.95% YoY • DLocal expects higher OPEX from 2025 carry-over, with operating leverage anticipated to improve in 2H26, and confirms its overall guidance remains unchanged for the period.
Bullish
DLocal achieved strong TPV growth of 73% year-over-year to US$14.1 billion and revenue growth of 55%, driven by broad-based volume expansion in Africa and Asia.
Bearish
DLocal faced gross profit margin compression and a 63% decline in adjusted free cash flow, alongside increased operating expenses and a US$9.7 million prior-periods tax adjustment.