Dlocal Ltd (NASDAQ:DLO) stock plummets 17.43% (As on Nov 17, 10:38:34 AM UTC-4, Source: Google Finance) after the company has reported 217% year-over-year growth in the Total Payment Volume (“TPV”) to US$1.8 billion in the quarter compared to US$572 million in the third quarter of 2020 and 24% growth compared to US$1.5 million in the second quarter of 2021. The quarter over quarter TPV growth is attributable to the performance and continued growth of our enterprise merchants across most verticals, particularly in ride hailing, streaming, advertising, SAAS (“software as a service”) and retail, while other verticals such as financial services remained relatively stable. The company has achieved 185% NRR in Q3 2021 versus 196% in Q2 2021. For the year-to-date 2021, the company had added six new countries to the network infrastructure. The company had added 10-plus new merchants with material volumes in the third quarter of 2021. Profit for the third quarter of 2021 was US$19.7 million, compared with profit of US$8.6 million for the third quarter of 2020 and with profit of US$17.7 million for the second quarter of 2021. As of September 30, 2021, dLocal had US$293.1 million in cash, cash equivalents and marketable securities, compared with US$266.0 million as of June 30, 2021. The increase of US$27.1 reflects an increase of US$16.3 million in the funds and an increase of US$10.8 million in funds due to the merchants with respect to the second quarter of 2021.

DLO in the third quarter of FY 21 has reported the adjusted earnings per share of 6 cents, missing the analysts’ estimates for the adjusted earnings per share of 7 cents. The company had reported the adjusted revenue growth of 123 percent to $68.6 million in the third quarter of FY 21. Revenues from new clients were $12 million in the third quarter 2021 in comparison with $9 million for full year 2020 and $3 million in the third quarter of 2020. Adjusted EBITDA was US$26.3 million in the third quarter of 2021 compared to US$12.5 million in the third quarter of 2020 and US$25.9 million in the second quarter of 2021. Adjusted EBITDA Margin was 38% in the third quarter of 2021 compared to 41% in the third quarter of 2020 and 44% in the second quarter of 2021.

Additionally, dLocal continued to focus on its expansion efforts and added Thailand and El Salvador to its geographic network during the quarter, bringing the total number of countries in which dLocal makes its services available to 32.