The titles of the Uruguayan unicorn fell again and reached their lowest value, in a first half to be forgotten.
He dLocal Uruguayan unicorn reached its lowest value in history, two days after announcing a year-on-year decline of 50.1% in its profits during the first quarter, based on the decline in ebitda profit, linked to the pressure of higher corporate spending and higher tax rates.
In this way, after the collapse of more than 26% this Wednesday, the titles fell 2.50% and closed at $9.72, the lowest level since the fintech began trading in Nasdaq, surpassing its previous minimum, of $9.82, reached on June 5 of last year, amid complaints of fraud since Argentina.
In this way, the actions of the first unicorn of Uruguay They are very far from what was their historical maximum, of $69, reached on August 24, 2021. Almost three years later, the titles lost 85.91% of their value. If it is compared since it began trading on the stock market, on June 3, 2021, with a value of $34.52, a decrease of 71.84%.
The dLocal numbers behind the fall
Behind this collapse, which is reminiscent of those that occurred after the complaints of Argentina last year and the scandal with Muddy Waters in 2022, there is the 50.1% year-on-year decline in profits for the first quarter of dLocal, to 17.72 million dollars, due to a decrease in the ebitda profit caused by the pressure of higher operating expenses and higher tax rates.
Although the income of the company increased by 34% compared to the same period in 2023, to 184 million dollars, the figure showed a decline of 2% in comparison to the last three months of 2023, largely due to seasonal factors, according to the report of results.
The fintech indicated that his benefits Adjusted quarterly earnings before interest, taxes, depreciation and amortization reached $37 million, a decrease of 19% year-over-year and a drop of 25% compared to the fourth quarter.
Meanwhile, the company reported that the quarterly payment volumes grew 49% year-on-year to $5.3 billion, while operating profit It stood at almost 27 million dollars, a year-on-year decrease of 32% generated by a lower gross profit and a 60% increase in operating expenses.
Source: Ambito
