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TacticzHazel

Energy-Market Analyst, Long-Term Fundamental Investing

13 Aug, 20:42Latest

dLocal's payment-volume growth is exceptional, so a declining take rate shouldn't worry investors while TPV and gross profit keep growing this fast. TPV rose 80% year over year in constant currency to $17.7B, the seventh straight quarter above 50%, and TPV and gross-profit guidance were raised. Net take rate fell to 0.72% from 0.84% as lower-margin local-to-local volume grew 141%, and Asia and Africa look weak. Management focuses on growth over take rate, though some slowdown would be welcome. x.com

DLO

4 Jun, 19:35

dLocal looks like a bargain at 18x earnings and 12x forward, since its stellar execution isn't reflected in the valuation. TPV grew 73% year over year after six straight quarters above 50%, with 50-60% guided for 2026, and rising gross profit should reach the bottom line. Free cash flow is strong, backed by a $300M buyback. Falling take rates, customer concentration and EM currency, macro and regulatory risks are real but largely priced in, as long as TPV outgrows margin decline. x.com

DLO

Ashton Invests

Long-Term Equity Investor, Fundamental Stock Research

17 Apr

DLO

dLocal is an overlooked picks-and-shovels play on emerging-market digital payments, combining real growth, real profitability and a huge runway outside the US. In the fourth quarter, payment volume grew 70%, revenue 65%, gross profit 38% and net income 87%. Full-year 2025 revenue crossed $1B for the first time, and adjusted free cash flow rose 110%. x.com

Hated Moats Investor

Contrarian Quality-Stock Research, 25 Years in Markets, GOOGL Since 2011

18 Mar

DLO

dLocal remains one of the highest-conviction long-term holdings, a hated moat whose great results drew only a 5% after-hours gain. Per @mvcinvesting, Q4 revenue was $337.9M versus $296.1M expected, free cash flow doubled to $64.7M and payment volume grew 70%. For 2026 dLocal guides 50-60% volume growth and 27.5-32.5% operating profit growth, and it announced a $300M buyback. x.com

Bill 'Latency Lord' Brennan

Fundamental Growth Investor, B2B/Sector Leaders & Picks-and-Shovels

16 Oct

DLO

dLocal faces stronger competitors and margins that will keep falling. Many of its regions are a constant uphill battle; even if it does well long term, payments stocks are uninvestable. x.com

Philipp Haas

Founder of Haas invest4 Innovation Fund, Creator of investresearch

19 Mar

DLO

dLocal could be the Adyen of emerging markets, quietly building payment rails for the next billion consumers. It combines 25-30%+ growth, expanding margins and solid 2026 guidance with a surprisingly low valuation. x.com

Deep Sail Capital

Founder & CIO of Deep Sail Capital, Long/Short GARP, Quality/Growth/Micro-Caps

26 Oct

DLO

dLocal's diversified model makes its sharp selloff look unwarranted. x.com

Pernas Research

Founder of Pernas Research, Fundamental Equity Research, USAF Background

15 May

DLO

dLocal's take rates face merciless, structural pressure from regional competition and market structure. Management, by contrast, expects only an asymptotic take-rate decline and nothing structural. The stock fell 8% after Q1 earnings. x.com x.com x.com x.com

Mindset for Money

CPA, Financial Analyst, Former Big Four Auditor

22 Sep

DLO

dLocal's business is materially better than in 2021, yet its valuation is far lower. It now generates nearly as much gross profit in one quarter as it did in all of 2021, while its market cap is $4B against a $20B peak in 2021. x.com

Fede Sandler

Former IRO at Mercado Libre/Nubank, Forbes Columnist

14 Aug

DLO

The market isn't crediting dLocal for faster payment volume growth, which more than makes up for its lower take rate. Per @realroseceline, TPV grew 92% in Q2, and about 50% of the $127m of gross profit became operating profit, up from 44% last quarter, as gross profit rose 7% while operating expenses fell about 4%. The stock dropped roughly 10% after EPS missed by a penny before recovering most of the decline. x.com

DVB

Deep-Value Investor, Ex-Tech Executive, Agentic Equity Research Builder

14 May

DLO

dLocal sits in payment processing, a sector that 30 years of data show to be dead because margins are low. Fintech is just software, without the asset leverage that banks have. dLocal fell about 11% after EPS of $0.14 missed the $0.15 estimate, per TrendSpider. x.com x.com x.com

Jordan

Long-Term Stock Investor, Compounding & Portfolio Construction

27 Oct

Visa's volume and earnings growth show its network benefits from the global shift to digital payments. FY revenue rose 15% to $45.9B, adjusted EPS 16%, payments volume 9% and cross-border volume 13%. One of the world's highest-quality businesses, it is among the few most comfortable to hold for the next decade. Adjusted operating expenses rose 16%, ahead of revenue; client incentives rose 16% to $18.3B but threaten margins only if they get out of control. Regulation and litigation remain risks. … Show more

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