dLocal Reports Record TPV and Dividend in Q1 2026, Legal Win, Despite Lower Reported Net Income and FCF
DLO sits 25% above its 52-week low of $9.75 on elevated volume (1.9× avg).
Summary
dLocal announced Q1 2026 results featuring record TPV and strong revenue growth, alongside a dividend declaration and a favorable legal outcome, though reported net income declined and free cash flow was significantly lower due to temporary factors.
Key Events · Earnings and Guidance · DLO
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Record TPV and Strong Revenue Growth
Total Payment Volume (TPV) reached a record $14.1 billion, up 73% year-over-year, and revenue increased 55% to $335.9 million, demonstrating continued business expansion.
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Mixed Profitability with One-Off Adjustment
Reported net income declined 10% to $41.9 million. However, excluding a one-off $9.7 million prior-periods tax adjustment, net income would have been $51.6 million, an 11% increase year-over-year.
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Reduced Free Cash Flow
Adjusted Free Cash Flow decreased significantly by 63% year-over-year to $14.7 million, primarily due to temporary working capital effects expected to normalize in upcoming quarters.
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Dividend Declared and Share Repurchase Ongoing
The company declared a cash dividend of $57.2 million ($0.1939 per share) and repurchased $10.1 million in shares under its existing $300 million program.
Analysis · DLO · Trade & Services
dLocal reported strong top-line growth in Q1 2026, with Total Payment Volume (TPV) reaching a record $14.1 billion, up 73% year-over-year, and revenue increasing 55% to $335.9 million. However, reported net income declined 10% to $41.9 million. Excluding a one-off prior-periods tax adjustment of $9.7 million, net income would have been $51.6 million, an 11% increase year-over-year. Adjusted Free Cash Flow significantly decreased by 63% to $14.7 million, attributed to temporary working capital effects expected to normalize. The company declared a cash dividend of $57.2 million ($0.1939 per share) and continued its share repurchase program, buying back $10.1 million in shares. Additionally, a New York state class action lawsuit against dLocal was dismissed, with the decision affirmed on appeal, reducing a significant legal overhang. The company's 2026 guidance remains unchanged, indicating management's confidence in future performance despite the mixed Q1 results.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 36.4% of the 1070 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, DLO was trading at $12.23 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $9.75 to $16.78. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.