DLocal sees TPV growth of 40%- 50%, higher than $26B TPV at midpoint in FY24

“Looking ahead, I am even more excited for what’s to come. For 2024 we expect TPV growth of 40% to 50%, surpassing $26B of TPV at the midpoint. We see gross profit between US$320 and $360m and Adjusted EBITDA between US$220 and US$260m. We are committed to running a financial model that combines robust mid-term gross profit growth with an EBITDA margin that is among the best in our comparables. Therefore, we are re-affirming our mid-term guidance of 25%-35% gross profit CAGR and Adjusted EBITDA to gross profit of 75%+. The trajectory towards that mid-term guidance comes in for 2024 at around 70% Adjusted EBITDA over gross profit as we continue investing and tightening the foundations for long-term growth by 1) further strengthening the dLocal team, with particular emphasis on our engineering talent pool; 2) further upgrading back office capabilities and 3) continuing to invest behind our license portfolio throughout emerging markets. The combination of these actions will further widen our moat and continue to position DLO as the go-to payments platform to serve emerging markets. As we look beyond 2024, we believe that as we conclude our short-term investment cycle, we will start to see the operational leverage inherent to our business kick in. We steer our business for decades, not quarters. We continue to have a high conviction in our massive opportunity. Finally, let me share that after a few months working with Sebastian as co-CEOs, we will continue to collaborate closely and shape dLocal’s bright future but now from different roles. It is truly an honor and a privilege to share that I am taking on the role of CEO, while Sebastian is stepping down from his executive position but remains an active member of the Board and will be fully dedicated to leveraging his vast experience to lead the newly established Commercial, Business Development and M&A Committee as part of the company’s Board of Directors. I am sure Seba will continue to be an instrumental piece in DLO’s long term successful story,” said the company in a release.