DLocal Limited (DLO) stock plummeted 20.26% in the pre-market trading session at the price of $42.00 after reporting its financial results for the third quarter ended 30th September 2021.
DLocal controls local payments in emerging markets. It connects global enterprise traders with billions of market customers across Latin America, the Middle East, and Africa.
DLO Third Quarter 2021 Financial Results
On 17th November 2021, DLO published its financial results for the third quarter ended 30th September 2021, and presented corporate updates.
Financial Highlights
DLO reported revenues of $68.6 million for the third quarter ended 30th September 2021. It represents year-over-year growth of 123% from $30.9 million in the same quarter of the previous year. For the second quarter of 2021, revenue totaled $59.0 million. Total Payment Volume touched $1.8 billion in the third quarter of 2021. It represents year-over-year growth of 217% from $572 million in the last year same quarter. In the second quarter of 2021, the total Payment Volume was $1.5 billion.
For the third quarter of 2021, DLO reported an adjusted EBITDA of $26.3 million. Adjusted EBITDA was $12.5 million for the third quarter of last year. For the second quarter of 2021, the adjusted EBITDA was $25.9 million. The company reported an adjusted EBITDA margin of 38% for the third quarter of 2021. Adjusted EBITDA margin was 41% in the third quarter of 2020.
Profit was $19.7 million, or per diluted share of $0.06, for the third quarter of 2021. For the third quarter of 2020, a profit was $8.6 million, or per diluted share of $0.03. The profit was $17.7 million, or per diluted share of $0.06, for the second quarter of 2021. Profit in the third quarter of 2021 includes $0.9 million from secondary offering expenses.
As of 30th September 2021, DLO reported cash, cash equivalents, and marketable securities of $293.1 million. Cash, cash equivalents, and marketable securities totaled $266.0 million as of 30th June 2021. The $27.1 gain from the second quarter indicates an increase of $16.3 million from the company’s funds and $10.8 million funds from the merchants.
