dLocal (DLO) Research & Development (2020 - 2025)
dLocal's (DLO) quarterly Research & Development came in at -$6.3 million in Q4 2025, down 13.27% year-on-year from -$7.3 million in Q4 2024, and up 22.09% on a QoQ basis from -$8.1 million in Q3 2025.
dLocal (DLO) Research & Development (2020 - 2025) Analysis & Trends
dLocal (DLO) has 6 years of Research & Development data on file, last reported at -$6.3 million in Q4 2025.
- On a quarterly basis, Research & Development fell 13.27% year-over-year to -$6.3 million in Q4 2025; TTM through Dec 2025 was -$26.5 million, a 22.34% decrease from a year earlier, with the FY2025 full-year figure at -$26.5 million, down 22.34% from the prior year.
- Research & Development for Q4 2025 stood at -$6.3 million, up from -$8.1 million in the prior quarter.
- Over the last five years, Research & Development for DLO reached as high as -$1.0 million in Q1 2021 and fell as low as -$8.1 million in Q3 2025.
- Historically, Research & Development has averaged -$4.2 million across 5 years, with a median of -$4.5 million in 2023.
- Across the five-year window, Research & Development tumbled 177.55% in 2022 and advanced 4.65% in 2024, its largest moves.
- Year by year, Research & Development stood at -$2.5 million in 2021, then tumbled by 56.14% to -$3.9 million in 2022, then retreated by 21.05% to -$4.7 million in 2023, then fell by 18.85% to -$5.6 million in 2024, then decreased by 13.27% to -$6.3 million in 2025.
- Per Business Quant data, the three most recent Research & Development figures were -$6.3 million in Q4 2025, -$8.1 million in Q3 2025, and -$4.8 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,921.46 Bn | 2,797.02 Bn | 56.06 Bn | 6.81 Bn |
| 2 | PagSeguro Digital | 2,686.70 Bn | 2,686.70 Bn | 358.92 Mn | - |
| 3 | Oracle | 344.13 Bn | 312.24 Bn | - | 4.01 Bn |
| 4 | Repay Holdings | 342.29 Bn | 342.15 Bn | - | - |
| 5 | Palantir Technologies | 294.57 Bn | 286.54 Bn | 1.42 Bn | 160.98 Mn |
| 6 | Palo Alto Networks | 224.46 Bn | 219.93 Bn | 1.91 Bn | 823.00 Mn |
| 7 | CrowdStrike Holdings | 182.52 Bn | 179.42 Bn | 993.68 Mn | 802.89 Mn |
| 8 | Fortinet | 111.29 Bn | 107.99 Bn | 1.49 Bn | 636.30 Mn |
| 9 | Cloudflare | 93.63 Bn | 92.68 Bn | 455.60 Mn | 271.60 Mn |
| 10 | dLocal | 4.32 Bn | 3.50 Bn | 115.80 Mn | -6.34 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -6.34 Mn |
| Sep 30, 2025 | -8.14 Mn |
| Jun 30, 2025 | -4.84 Mn |
| Mar 31, 2025 | -7.14 Mn |
| Dec 31, 2024 | -5.60 Mn |
| Sep 30, 2024 | -6.89 Mn |
| Jun 30, 2024 | -4.51 Mn |
| Mar 31, 2024 | -4.63 Mn |
| Dec 31, 2023 | -4.71 Mn |
| Sep 30, 2023 | -4.45 Mn |
| Jun 30, 2023 | -3.11 Mn |
| Mar 31, 2023 | -4.86 Mn |
| Dec 31, 2022 | -3.89 Mn |
| Sep 30, 2022 | -3.47 Mn |
| Jun 30, 2022 | -3.13 Mn |
| Mar 31, 2022 | -2.84 Mn |
| Dec 31, 2021 | -2.49 Mn |
| Sep 30, 2021 | -1.26 Mn |
| Jun 30, 2021 | -1.13 Mn |
| Mar 31, 2021 | -1.04 Mn |