DLocal Limited (NASDAQ:DLO) Q1 2023 Earnings Conference Call May 18, 2023 8:00 AM ET

Company Participants

Soledad Nager - Head of Investor Relations

Sebastian Kanovich - Chief Executive Officer

Maria Oldham - Vice President of Corporate Development and Investor Relations

Jacobo Singer - President and Chief Operating Officer

Diego Cabrera Canay - Chief Financial Officer

Conference Call Participants

Jorge Kuri - Morgan Stanley

Tito Labarta - Goldman Sachs

Domingos Falavina - J.P. Morgan

Jason Kupferberg - Bank of America

Ashwin Shirvaikar - Citi

Neha Agarwala - HSBC

Soomit Datta - New Street Research

John Coffey - Barclays

Operator

Good day, and welcome to the DLocal First Quarter 2023 Results Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this call maybe recorded.

I would like to turn the call over to Soledad Nager, Head of Investor Relations. You may begin.

Soledad Nager

Thank you very much, Operator. Good morning, everyone, and thank you for joining our first quarter 2023 earnings call today. If you have not seen our earnings release, a copy is posted in the Financial section of our Investor Relation website.

On the call today, I'm joined by Sebastian Kanovich, our Chief Executive Officer; Jaco Singer, our President and COO; Diego Cabrera Canay, our Chief Financial Officer; and Maria Oldham, Vice President of Corporate Development and Investor Relations.

We are providing a slide presentation to accompany our prepared remarks. This event is being broadcast live via webcast, and both the webcast and presentation may be accessed through DLocal's website at investor.dlocal.com. The recording will be available shortly after the event is concluded.

Before proceeding, let me mention that any forward-looking statements included in the presentation or mentioned in this conference call are based on currently available information and DLocal's current assumptions, expectations, and projections about future events. While the company believes that our assumptions, expectations, and projections are reasonable given currently available information, you are cautioned not to place undue reliance on those forward-looking statements.

Actual results may differ materially from those included in DLocal's presentation or discussed in this conference call for a variety of reasons, including those described in the forward-looking statements and Risk Factors section of DLocal's filings with the Securities and Exchange Commission, which are available on DLocal's Investor Relations website.

Now, I will turn the conference over to Seba. Thank you.

Sebastian Kanovich

Good morning, everyone. Thanks for joining the call today. I'm pleased to share that we had a very strong start to the year. Our TPV grew 70% year-over-year and 8% quarter-over-quarter, reaching $3.6 billion. Our revenue grew 57% year-over-year and 16% quarter-over-quarter to $137 million. We continue to focus on growing our absolute gross profit and EBITDA dollars.