DLocal Limited (DLO) Income Statement
DLO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsDLO revenue and net income
Where DLO's revenue goes
2025Each bar shows an amount and its share of revenue. DLO kept 18.0% of revenue as net income.
DLO profit margins
DLO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +46.6% | +37.7% | +60.0% | — |
| Gross profit | +36.7% | +25.8% | +46.3% | — |
| Operating income | +58.1% | +20.2% | +48.3% | — |
| Net income | +63.4% | +21.9% | +47.5% | — |
| EPS (diluted) | +67.4% | +31.3% | −51.5% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DLO quarterly EPS vs estimates
DLocal beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 12, 2026 (estimate $0.22).
DLO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.09B | $746.0M | $650.4M | $418.9M | $244.1M | $104.1M | $55.3M |
| Cost of revenue | $690.8M | $451.3M | $373.5M | $216.8M | $113.7M | $44.1M | $19.4M |
| Gross profit | $402.8M | $294.7M | $276.9M | $202.2M | $130.4M | $60.1M | $35.9M |
| Research & development | $30.7M | $25.6M | $12.7M | $6.3M | $3.4M | $2.0M | $1.3M |
| Sales, general & admin | $115.0M | $99.2M | $84.2M | $50.5M | $44.1M | $24.7M | $15.9M |
| Total operating expenses | $180.7M | $154.2M | $97.2M | $74.3M | $46.6M | $29.1M | $18.3M |
| Operating income | $222.1M | $140.5M | $179.7M | $127.9M | $83.8M | $30.9M | $17.6M |
| Interest income | $26.3M | $28.3M | $49.6M | $18.1M | $2.5M | $443,000 | $217,000 |
| Interest expense | $20.9M | $49.7M | $88.8M | $177,000 | $544,000 | $67,000 | $30,000 |
| Income before taxes | $228.7M | $151.0M | $178.5M | $120.3M | $85.5M | $31.4M | $17.8M |
| Income taxes | $31.8M | $30.6M | $29.4M | $11.6M | $7.6M | $3.2M | $2.2M |
| Net income | $196.8M | $120.4M | $149.0M | $108.7M | $77.9M | $28.2M | $15.6M |
| EBITDA | $255.2M | $168.9M | $191.3M | $128.6M | $90.4M | $32.4M | $18.3M |
| EPS (diluted) | $0.77 | $0.46 | $0.57 | $0.34 | $0.27 | $28.80 | $1.00 |
| Gross margin | 36.8% | 39.5% | 42.6% | 48.3% | 53.4% | 57.7% | 64.9% |
| Operating margin | 20.3% | 18.8% | 27.6% | 30.5% | 34.3% | 29.7% | 31.8% |
| Net margin | 18.0% | 16.1% | 22.9% | 25.9% | 31.9% | 27.1% | 28.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $399.7M | $335.9M | $337.9M | $282.5M | $256.5M | $216.8M | $204.5M | $185.8M | $171.3M | $184.4M | $188.0M | $163.9M |
| Cost of revenue | $272.5M | $217.2M | $222.1M | $179.3M | $157.6M | $131.9M | $120.8M | $107.6M | $101.5M | $121.5M | $118.3M | $89.4M |
| Gross profit | $127.2M | $118.7M | $115.8M | $103.2M | $98.9M | $84.9M | $83.7M | $78.2M | $69.8M | $63.0M | $69.7M | $74.5M |
| Research & development | $13.3M | $12.1M | $7.7M | $8.8M | $7.4M | $6.8M | $6.8M | $6.9M | $6.4M | $5.5M | $12.7M | $3.7M |
| Sales, general & admin | $45.5M | $52.6M | $44.8M | $36.4M | $31.8M | $31.5M | $32.8M | $29.5M | $31.6M | $29.0M | $20.2M | $17.4M |
| Total operating expenses | $63.0M | $65.1M | $52.7M | $47.6M | $41.7M | $38.6M | $41.4M | $37.0M | $39.6M | $36.1M | $28.7M | $23.0M |
| Operating income | $64.2M | $53.6M | $63.1M | $55.6M | $57.2M | $46.2M | $42.3M | $41.1M | $30.2M | $26.9M | $41.0M | $51.5M |
| Interest income | $5.1M | $10.8M | $7.5M | $10.4M | $11.1M | $12.2M | $26.6M | $7.3M | $29.2M | $18.3M | $20.7M | $44.4M |
| Interest expense | $53,000 | $5.6M | $3.7M | $4.0M | $14.9M | $5.3M | $36.1M | $17.4M | $1.2M | $18.0M | $51.4M | $42.9M |
| Income before taxes | $65.0M | $56.5M | $64.6M | $61.2M | $51.0M | $51.9M | $40.8M | $29.1M | $56.3M | $24.8M | $36.0M | $49.3M |
| Income taxes | $10.2M | $14.6M | $8.9M | $9.4M | $8.2M | $5.3M | $11.1M | $2.3M | $10.1M | $7.1M | $7.5M | $8.9M |
| Net income | $54.6M | $42.0M | $55.5M | $51.8M | $42.8M | $46.6M | $29.7M | $26.8M | $46.2M | $17.7M | $28.5M | $40.3M |
| EBITDA | $72.1M | $69.9M | $49.3M | $72.0M | $71.4M | $62.5M | $47.3M | $50.5M | $61.5M | $46.6M | $88.0M | $95.1M |
| EPS (diluted) | $0.18 | $0.17 | $0.22 | $0.21 | $0.17 | $0.17 | $0.10 | $0.15 | $0.15 | $0.06 | $0.14 | $0.16 |
| Gross margin | 31.8% | 35.3% | 34.3% | 36.5% | 38.6% | 39.2% | 40.9% | 42.1% | 40.8% | 34.1% | 37.1% | 45.5% |
| Operating margin | 16.1% | 15.9% | 18.7% | 19.7% | 22.3% | 21.3% | 20.7% | 22.1% | 17.6% | 14.6% | 21.8% | 31.4% |
| Net margin | 13.7% | 12.5% | 16.4% | 18.3% | 16.7% | 21.5% | 14.5% | 14.4% | 27.0% | 9.6% | 15.2% | 24.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DLO's financial statements (latest annual report filed March 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DLO financial results
In fiscal year 2025 (ended December 31, 2025), DLocal reported revenue of $1.1 billion, up 46.6% from the year before. It had net income of $196.8 million (up 63.4%), a net profit margin of 18.0%. Diluted earnings per share came to $0.77. Over five years revenue grew at an average rate of 60.0% a year.
See the DLO stock overview for the latest quote and news, or the DLO chart for price history and technical indicators.
DLO income statement FAQ
What is DLocal's annual revenue?
DLocal reported total revenue of $1.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 46.6% from $746.0 million the previous year.
Is DLocal profitable?
Yes. DLocal reported net income of $196.8 million in fiscal 2025, a net profit margin of 18.0%; its operating margin was 20.3%.
What is DLocal's gross margin?
DLocal's gross margin was 36.8% in fiscal 2025: for every $100 of revenue, DLocal kept $37 after the direct cost of its products and services.
How much does DLocal spend on research and development?
DLocal spent $30.7 million on research and development in fiscal 2025, 2.8% of revenue.
How fast is DLocal growing?
Revenue grew 60.0% a year on average over the last five fiscal years, from $104.1 million to $1.1 billion.
What are DLocal's earnings per share?
DLocal earned $0.77 per diluted share in fiscal 2025, compared with $0.46 a year earlier.
When will DLocal report its next earnings?
DLocal is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does DLocal's fiscal year end?
DLocal's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 18, 2026.