Fintech Company dLocal Raised 2025 Projections Following Revenue Surpassing Estimates
In a positive development for the Uruguayan fintech company, dLocal, CEO Pedro Arnt has announced that the company's guidance for the year is cautious but momentum is strong. This statement comes after dLocal reported a record Q2 total payment volume (TPV) of $9.2 billion, marking a 53% year-over-year increase.
This impressive growth has led to an upgrade in dLocal's full-year 2025 TPV guidance, along with revenue, gross profit, and adjusted EBITDA. The company's Q2 results represent the third consecutive quarter with over 50% TPV growth.
Before this exceptional Q2 performance, expectations for 2025 TPV were more conservative. However, the surpassing of prior estimates has prompted management to upgrade the full-year guidance. Factors contributing to this upgrade include geographic diversification beyond Brazil and Mexico, new product launches, and operational efficiencies.
In addition to the TPV growth, dLocal's Q2 earnings exceeded analyst expectations. The company posted adjusted EBITDA of $70.1 million, a 64% increase, and revenues of $256.5 million, a 50% climb.
Looking ahead, dLocal expects higher operating expenses in the second half of 2025 due to investments in new products and third-party costs. However, the company remains confident in its growth prospects, particularly due to the predicted doubling of the payments ecosystem in emerging markets to over $4 trillion by 2030.
dLocal is also focusing on stablecoin payments and "buy now, pay later" products. The company has already secured some contracts for offline offerings, such as cash and card transactions in physical stores.
Guillermo Lopez, a former American Express executive, is set to join as dLocal's CFO in the coming months. The company is also looking to strengthen its governance by appointing new independent board members.
Despite the positive outlook, Arnt mentioned potential risks from higher tariffs, shifting fiscal policies, and currency fluctuations in certain countries. However, he emphasised that dLocal is well-positioned to navigate these challenges due to its strong market position and operational efficiency.
In summary, dLocal has upgraded its forecast for 2025 TPV growth following record Q2 results showing sustained over 50% YoY TPV growth, reflecting stronger than anticipated market expansion and operational performance compared to prior estimates. The company is also expecting a 40%-50% rise in adjusted EBITDA from 2024, and there is significant interest from merchants for dLocal's credit offerings.
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