dLocal (DLO) Gross Margin (2020 - 2025)

dLocal has disclosed Gross Margin across 6 years of filings, most recently posting 34.27% for Q4 2025.

• In Q4 2025, Gross Margin fell 666.0% year-over-year to 34.27%; the TTM figure through Dec 2025 stood at 36.83% (down 267.0% YoY), while the FY2025 annual figure was 36.83%, down 267.0% from the prior year.
• Gross Margin declined to 34.27% in Q4 2025, from 36.53% in the prior quarter.
• Over the last five years, Gross Margin for DLO reached as high as 57.8% in Q1 2021 and fell as low as 34.14% in Q1 2024.
• The 5-year median for Gross Margin is 44.48% (2023), against an average of 44.39%.
• Annual changes were most pronounced in 2024 — Gross Margin plunged 1090 bps — and 2025, when it jumped 501 bps.
• 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.
• According to Business Quant data, Gross Margin over the past three periods registered 34.27%, 36.53%, and 38.56% for Q4 2025, Q3 2025, and Q2 2025 respectively.