DLocal Limited (NASDAQ:DLO) Q1 2024 Earnings Conference Call May 14, 2024 5:00 PM ET

Company Participants

Soledad Nager - Head, Investors Relations
Pedro Arnt - Chief Executive Officer
Mark Ortiz - Chief Financial Officer
Maria Oldham - SVP of Corporate Development, Investor Relations and Strategic Finance

Conference Call Participants

Jorge Kuri - Morgan Stanley
Tito Labarta - Goldman Sachs
Melissa Chen - BofA
Jamie Friedman - Susquehanna International Group
Neha Agarwala - HSBC
John Coffey - Barclays
Matt Coad with - Autonomous Research
Kaio Da Prato - UBS

Operator

Good day, and thank you for standing by. Welcome to the DLocal First Quarter 2024 Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised today's conference may be recorded.

I would now like to hand the conference over to your speakers today. Please go ahead.

Soledad Nager

Good afternoon, everyone and thank you for joining the first quarter 2024 earnings call today. If you have not seen the earnings release, a copy is posted in the Financial section of the Investor Relations website.

On the call today, you have Pedro Arnt, Chief Executive Officer; Mark Ortiz, Chief Financial Officer; Maria Oldham, SVP of Corporate Development, Investor Relations and Strategic Finance; and Soledad Nager, Head of Investors Relations.

A slide presentation has been provided to accompany the prepared remarks. This event has been broadcast live via webcast, and both the 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 these 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 Factor sections 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 DLocal.

Pedro Arnt

Thanks everyone for joining us today. 2024 has gotten off to a contrasting start. The year started with us once again posting record quarterly TPV of $5.3 billion a growth of nearly 50% year-on-year. This TPV growth was solid across multiple verticals with e-commerce nearly tripling in size, remittances practically doubling and ride hailing, software as a service, each growing north of 50% year-on-year. This is all a testament to the value of our solution that we offer merchants in varying verticals and of our increasingly strong competitive position and sustained share of wallet gains. We believe that nothing will set us up better for long-term success than this kind of sustained TPV growth compounding over multiple years.