The actions of dLocal Uruguayan unicorn plummeted 17.49% in the Nasdaq, following the publication of the 2023 financial results report, which reflected an increase in the company’s income fintech in the fourth quarter.
Despite the improvement and dLocal generated revenues of 650 million dollars and a total payment volume of 17.7 billion during 2023, the market reacted negatively, in a year that the firm considered positive, despite the turbulence with Argentina and several name changes.
Thus, the shares went from a value of 18.18 dollars to 15 in the last hours, a level they had not reached since mid-August of last year.
One of the possible causes behind the decline is that the earnings per share In the fourth quarter they were 0.10 dollars, when the analysts’ expectation was 0.15 dollars, according to the specialized site Investing.
dLocal valued the results of 2023, despite the decline
Anyway, since dLocal They highlighted that their profits grew by 55% last year compared to 2022, while their payment volume increased by 67%, while the gross operating result or EBITDA was 202 million dollars, an increase of 32% year-on-year.
According to the annual balance sheet data, the gross profit of the unicorn reached 277 million dollars, which was 37% more than the total for 2022.
“Our performance in 2023 demonstrates the resilience of our value proposition and business model. We now serve five of the world’s six largest technology companies by market capitalization. However, we have only just begun to take advantage of the immense opportunity that lies ahead of us,” highlighted dLocal CEO, Pedro Arnt.
The former financial director of Free market He noted that in 2023 fintech “gained traction” and noted: “We expanded to five key markets in just one year.”
“Geographically, we saw very strong performance in our core markets, Brazil and Mexico, with profits increasing 89% and 72% year-on-year respectively, while Africa and Asia showed an impressive year-on-year increase of 114%,” he concluded.
Source: Ambito
