DLocal Limited announced its financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, Total Payment Volume (TPV) reached $7.7 billion, marking a 51% year-over-year increase, and revenue was $204 million, up 9% year-over-year. Gross Profit for the quarter was $84 million, a 20% year-over-year increase, and Adjusted EBITDA reached $57 million, up 16% year-over-year.
For the full year 2024, DLocal reported TPV of $25.6 billion, up 45% year-over-year, and revenue of $746 million, a 15% year-over-year increase. Gross Profit for the full year was $295 million, up 6% year-over-year, while Adjusted EBITDA was $189 million, down 7% year-over-year. The Adjusted EBITDA over gross profit margin improved quarter-over-quarter to 68% in Q4, closing the year at 64%.
DLocal provided its full-year 2025 guidance, projecting TPV growth of 35%-45% year-over-year, revenue growth of 25%-35% year-over-year, gross profit growth of 20%-25% year-over-year, and Adjusted EBITDA growth between 20% and 30% year-over-year. The company noted an expected net take rate compression due to a higher mix of transactions from lower take-rate Tier zero merchants.
Despite strong TPV growth, the fourth-quarter net profit of $29.7 million was up 4% from a year earlier but fell below the $44.7 million estimate of analysts polled by LSEG. DLocal also announced its decision to discontinue mid-term guidance, stating it will focus on delivering strong operational execution to hit annual targets.
In 2024, DLocal added 9 licenses and registrations, including the UK FCA's Authorised Payment Institution license, enhancing its competitive edge and demonstrating commitment to compliant practices. The company emphasized its focus on disciplined scaling, local expertise, and delivering value to merchants in high-growth emerging markets.
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