The first unicorn Uruguay, dLocal, presented the financial and operating results corresponding to the second quarter of the year, with an exceptional performance and earnings of 44.8 million dollars that had a positive impact on their actions.
Despite some controversial situations that the uruguayan fintech Throughout the year, the business continues to grow positively, as demonstrated by the results already accumulated two quarters with positive numbers. In this sense, dLocal reported revenue of $161.1 million59% more than in the same period last year, when the money obtained from its operations had reached 101.2 million dollars.
Compared to the first quarter of the year, which was also good, the income growth was 17%.
Regarding the Profits, also rose sharply in year-on-year terms, with a 46% increase. Likewise, the 44.8 million dollars of positive balance for the payment processing platform meant an improvement of 26% compared to the first three months of the year.
For his part, he total volume of payments experienced a substantial increase of 80% compared to the second quarter of 2022, while the Gross profit, which was 70.9 million dollars, experienced a significant increase of 43%. The increase is 13% in this data if compared to the 61.8 million in the first quarter of 2023.
In parallel, the gross profit margin it was 44%, while a year ago it had been 49%. This figure was positively impacted by changes in the commercial mix, particularly in Brazil; while the lower revenue share in Argentina traded down.
As for the EBITDA —total earnings before paying interest, taxes, readjustments and amortizations—adjusted, this increased by 36%.
Demonstrating confidence in its future prospects, while trying to fully recover the positive course that it maintained during the past year prior to the first financial report Muddy Waters Capital —and at the same time that he studies various alternatives, among them, the sale—, dLocal It restated its full-year revenue guidance, projecting a range of $620 million to $640 million. Besides, the fintech it expects its adjusted EBITDA for the full year to be in the range of $200 million to $220 million.
dLocal has a new co-CEO
The first Uruguayan Unicorn, dLocal, announced as co-CEO Pedro Arnt, who most recently served as CFO of Free market, a decision that comes at a time when there was talk of a possible sale of the company.
This way, arnt will be the co-CEO of the fintech company along with Sebastian Kanovich. Thus, after his resignation Free market After 24 years at that firm, he will take over a company that had to face some scandals in recent times. The decision was welcomed by the market, since the shares of dLocal rose more than 30% in after-hours trading Wall Street Stock Exchange.
“I am honored and excited to join dLocal as co-executive director. The company’s proven success in putting customers first, serving many of the world’s largest companies and technology companies, in numerous high-growth emerging markets, presents a truly unique business opportunity.” arnt In a statement issued by the Uruguayan unicorn.
Source: Ambito
