Shares of dLocal (NASDAQ: DLO) plunged 17.5% on Tuesday after the Uruguay-based fintech announced weaker-than-expected quarterly results.
Fourth-quarter 2023 revenue grew 59% year over year to $188 million, translating to adjusted (non-IFRS) net income of $40.6 million, or $0.14 per share. Analysts on average were modeling slightly higher adjusted net income of $0.15 per share, but lower revenue of $173.2 million.
Within dLocal's results, fourth-quarter total payment volume (TPV) grew 55% year over year to $5.1 billion, and the company's net revenue retention rate came in at a strong 149%.
Source Fool.com