dLocal Inc. (NASDAQ: DLO) stock gained by 1.62% at last close, whereas the DLO stock price declines by 10.64% in the pre-market trading session. In over 30 countries throughout APAC, the Middle East, Latin America, and Africa, dLocal supports local payments, linking global corporate merchants with billions of new market customers.
DLO stock’ Financial Results
dLocal announced its financial outcomes for the third quarter of 2021. The summary is given below:
- Revenues for the third quarter of 2021 totaled US$68.6 million, up 123 percent year over a year from US$30.9 million in the same period in 2020 and 16 percent higher than $59.0 million in the previous quarter of 2021.
- In the third quarter of 2021, adjusted EBITDA was US$26.3 million, relative to US$12.5 million in Q3 of 2020 and US$25.9 million in the previous quarter of 2021.
- In the third quarter of 2021, the adjusted EBITDA margin was 38 percent, compared to 41 percent in the third quarter of 2020 and 44 percent in the second quarter of 2021.
- The third quarter of 2021 saw a profit of US$19.7 million, or US$0.06 per diluted share, relative to US$8.6 million, or US$0.03 per diluted share, in the third quarter of 2020. Onetime expenses of US$0.9 million in the third quarter of 2021 were mostly linked to secondary offering expenses.
- dLocal has US$293.1 million in cash, cash equivalents, and marketable securities as of September 30, 2021, however it was US$266.0 million as of June 30, 2021.
Sebastian Kanovich CEO, DLO commented that,
As the domestic economies recover and global merchants concentrate their energy in emerging regions, they continue to witness robust growth across several sectors. They’re sticking to this objective of making the complicated simple for their merchants. On their platform, they continue to develop new production qualities that improve their merchants’ ability to benefit from increased conversion rates. In Latin America, Asia, and Africa, they continue to add additional nations to their infrastructure network, as well as more payment options and partners.