dLocal (DLO) Gross Margin (2020 - 2025)
dLocal (DLO) reported Gross Margin of 34.27% for Q4 2025, down 666.0% year-over-year from 6.06% in Q4 2024, and down 6.18% quarter-over-quarter from 36.53% in Q3 2025.
dLocal (DLO) Gross Margin (2020 - 2025) Analysis & Trends
dLocal (DLO) has 6 years of Gross Margin data on file, last reported at 34.27% in Q4 2025.
- Gross Margin for Q4 2025 came in at 34.27%, down 666.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 36.83% (down 267.0% YoY), and the FY2025 annual result was 36.83%, down 267.0% from the prior year.
- Gross Margin slipped to 34.27% in Q4 2025 per DLO's latest filing, from 36.53% in the prior quarter.
- Over five years, Gross Margin peaked at 57.8% in Q1 2021 and troughed at 34.14% in Q1 2024.
- A 5-year average of 44.39% and a median of 44.48% in 2023 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2024 and 2025: Gross Margin slumped 1090 bps in 2024, then jumped 501 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 51.07% in 2021, then retreated by 9 bps to 46.53% in 2022, then decreased by 20 bps to 37.08% in 2023, then gained by 10 bps to 40.94% in 2024, then dropped by 16 bps to 34.27% in 2025.
- Business Quant data shows DLO's Gross Margin at 34.27% in Q4 2025, 36.53% in Q3 2025, and 38.56% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,998.30 Bn | 2,920.03 Bn | 56.06 Bn | 67.63% |
| 2 | Alarum Technologies | 1,040.72 Bn | 1,026.57 Bn | 7.23 Mn | 61.73% |
| 3 | Oracle | 590.32 Bn | 551.74 Bn | 15.14 Bn | 88.06% |
| 4 | Palantir Technologies | 316.31 Bn | 308.39 Bn | 1.42 Bn | 86.78% |
| 5 | Palo Alto Networks | 181.17 Bn | 176.63 Bn | 1.91 Bn | 73.59% |
| 6 | CrowdStrike Holdings | 161.69 Bn | 158.63 Bn | 993.68 Mn | 76.12% |
| 7 | Fortinet | 102.35 Bn | 99.06 Bn | 1.49 Bn | 80.29% |
| 8 | Synopsys | 88.25 Bn | 88.13 Bn | 1.77 Bn | 73.54% |
| 9 | Cloudflare | 83.26 Bn | 82.32 Bn | 455.60 Mn | 71.21% |
| 10 | dLocal | 3.47 Bn | 2.75 Bn | 115.80 Mn | 34.27% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 34.27% |
| Sep 30, 2025 | 36.53% |
| Jun 30, 2025 | 38.56% |
| Mar 31, 2025 | 39.16% |
| Dec 31, 2024 | 40.94% |
| Sep 30, 2024 | 42.08% |
| Jun 30, 2024 | 40.76% |
| Mar 31, 2024 | 34.14% |
| Dec 31, 2023 | 37.08% |
| Sep 30, 2023 | 45.47% |
| Jun 30, 2023 | 43.91% |
| Mar 31, 2023 | 45.04% |
| Dec 31, 2022 | 46.53% |
| Sep 30, 2022 | 48.16% |
| Jun 30, 2022 | 49.06% |
| Mar 31, 2022 | 49.80% |
| Dec 31, 2021 | 51.07% |
| Sep 30, 2021 | 50.18% |
| Jun 30, 2021 | 57.31% |
| Mar 31, 2021 | 57.80% |