Discover dLocal's Strong Q2 2023 Results and New Co-CEO Announcement, Showcasing Impressive Growth in Emerging Markets
dLocal Limited ("dLocal"), a leading technology-first payments platform, has revealed its impressive financial performance for the second quarter ending June 30, 2023. The company showcased remarkable growth across various key indicators, demonstrating its commitment to innovation and market expansion.
In an exciting development, dLocal reported a remarkable double-digit growth across all aspects compared to the previous year and the prior quarter. This achievement underscores the company's unique strengths, including cutting-edge technology, wide geographic coverage, effective sales strategies, and substantial market potential. The company remains steadfast in its pursuit of sustained growth, emphasizing profitability while delivering top-tier services to its clientele.
dLocal's success is evident through its wide-reaching impact. The company noted impressive growth in the Brazilian market, a large and competitive landscape that highlights the quality of dLocal's solutions. In addition to Brazil, Africa and Asia exhibited strong growth, with certain smaller markets experiencing triple-digit growth rates. This diversification showcases the company's robustness and adaptability in various regions, positioning it as a leader in emerging markets.
The company's steadfast commitment to growth is evident in its reaffirmed guidance for the year. dLocal anticipates revenue ranging from US$620 million to US$640 million, coupled with an Adjusted EBITDA between US$200 million and US$220 million. This guidance reflects a substantial year-on-year growth potential and maintains focus on superior margins.
In an exciting leadership development, dLocal proudly welcomes Pedro Arnt as the new co-CEO. This addition comes as the company embarks on its next chapter of growth. Sebastian Kanovich, co-CEO of dLocal, expressed enthusiasm about this collaboration, emphasizing the collective dedication to scaling the business and delivering lasting value to stakeholders.
dLocal showcased impressive financial performance for the second quarter of 2023, with key highlights including:
The company's revenue distribution highlights its strong presence across different regions. Latin America accounted for 79% of total revenue, with Brazil being a standout contributor with a 99% YoY growth. Additionally, Africa and Asia contributed 21% of the total revenue, showcasing significant growth despite certain market challenges.
dLocal's continuous focus on customer satisfaction is evident in its revenue growth from existing and new customers. Revenue from existing merchants increased substantially, reaching a net revenue retention rate of 148% in the second quarter of 2023. Furthermore, revenue from new merchants totaled US$11.2 million during the same period.
As dLocal continues its journey towards excellence, the company's outstanding Q2 2023 results and strategic leadership change are strong indicators of its commitment to innovation, growth, and value creation. With an eye on emerging markets, dLocal's trajectory remains one of success and evolution.
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