product · May 15, 2026
dLocal Q1 2026 Earnings Show Pricing Pressure and Brazil Gross Profit Drop
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dLocal faced pricing pressure from large enterprise clients on transaction fees and foreign exchange spreads in Q1 2026. Brazil gross profit dropped 20% sequentially due to seasonality and increased Pix real-time payment adoption with lower monetization rates than cards. Adjusted free cash flow fell 63% year-over-year to $14.7 million. Management reaffirmed full-year 2026 guidance unchanged despite the pressures.
Spend governor blocked model creation: provider_circuit_open (lane=dev, provider=together)