dLocal profit falls 10% as tax charge, costs offset payment-volume surge

dLocal (DLO) reported a 10% drop in first-quarter net profit on May 14, 2026, missing analyst estimates as a one-time tax charge and higher expenses outweighed sharply higher payment volumes. Net profit fell to $41.9 million, below analysts’ expectations of $48.9 million. The payments provider said results were affected by a $9.7 million tax adjustment tied to installment products and costs from a recent investment cycle. Revenue rose 55% to $335.9 million, above the $333.1 million forecast. Total payment volume increased 73% to $14.1 billion from $8.1 billion a year earlier. The Uruguay-based company processes payments for merchants including Amazon, Uber and Spotify across more than 40 emerging markets, with significant exposure to Latin America, Africa and Asia.