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Side-by-side financial comparison of dLocal Ltd (DLO) and Dynatrace, Inc. (DT). Click either name above to swap in a different company.
Dynatrace, Inc. is the larger business by last-quarter revenue ($515.5M vs $337.9M, roughly 1.5× dLocal Ltd). dLocal Ltd runs the higher net margin — 16.5% vs 7.8%, a 8.7% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 18.2%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $27.2M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Dynatrace, Inc. is an American multinational technology company that provides an AI-powered observability platform. Their software is used to monitor, analyze, and optimize application performance, software development, cyber security practices, IT infrastructure, and user experience.
DLO vs DT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $515.5M |
| Net Profit | $55.6M | $40.1M |
| Gross Margin | 34.3% | 81.4% |
| Operating Margin | 18.6% | 14.1% |
| Net Margin | 16.5% | 7.8% |
| Revenue YoY | 65.2% | 18.2% |
| Net Profit YoY | 87.3% | -88.9% |
| EPS (diluted) | $0.18 | $0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $337.9M | $515.5M | ||
| Q3 25 | $282.5M | $493.8M | ||
| Q2 25 | — | $477.3M | ||
| Q1 25 | — | $445.2M | ||
| Q4 24 | $204.5M | $436.2M | ||
| Q3 24 | $185.8M | $418.1M | ||
| Q2 24 | — | $399.2M | ||
| Q1 24 | — | $380.8M |
| Q4 25 | $55.6M | $40.1M | ||
| Q3 25 | $141.3M | $57.2M | ||
| Q2 25 | — | $48.0M | ||
| Q1 25 | — | $39.3M | ||
| Q4 24 | $29.7M | $361.8M | ||
| Q3 24 | $90.8M | $44.0M | ||
| Q2 24 | — | $38.6M | ||
| Q1 24 | — | $37.9M |
| Q4 25 | 34.3% | 81.4% | ||
| Q3 25 | 36.5% | 81.8% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 80.9% | ||
| Q4 24 | 40.9% | 81.1% | ||
| Q3 24 | 42.1% | 81.4% | ||
| Q2 24 | — | 81.3% | ||
| Q1 24 | — | 81.1% |
| Q4 25 | 18.6% | 14.1% | ||
| Q3 25 | 19.7% | 14.8% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | 20.7% | 10.9% | ||
| Q3 24 | 22.1% | 11.2% | ||
| Q2 24 | — | 10.5% | ||
| Q1 24 | — | 6.1% |
| Q4 25 | 16.5% | 7.8% | ||
| Q3 25 | 50.0% | 11.6% | ||
| Q2 25 | — | 10.0% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | 14.5% | 82.9% | ||
| Q3 24 | 48.9% | 10.5% | ||
| Q2 24 | — | 9.7% | ||
| Q1 24 | — | 10.0% |
| Q4 25 | $0.18 | $0.13 | ||
| Q3 25 | $0.17 | $0.19 | ||
| Q2 25 | — | $0.16 | ||
| Q1 25 | — | $0.12 | ||
| Q4 24 | $0.09 | $1.19 | ||
| Q3 24 | $0.09 | $0.15 | ||
| Q2 24 | — | $0.13 | ||
| Q1 24 | — | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $719.9M | $1.2B |
| Total DebtLower is stronger | $86.7M | — |
| Stockholders' EquityBook value | $569.4M | $2.7B |
| Total Assets | $1.5B | $4.1B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $1.2B | ||
| Q3 25 | $604.5M | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $425.2M | $1.0B | ||
| Q3 24 | $560.5M | $1.0B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $836.9M |
| Q4 25 | $86.7M | — | ||
| Q3 25 | $63.1M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $39.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $569.4M | $2.7B | ||
| Q3 25 | $504.7M | $2.8B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $489.0M | $2.6B | ||
| Q3 24 | $457.0M | $2.1B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.0B |
| Q4 25 | $1.5B | $4.1B | ||
| Q3 25 | $1.4B | $4.1B | ||
| Q2 25 | — | $4.1B | ||
| Q1 25 | — | $4.1B | ||
| Q4 24 | $1.2B | $3.7B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | — | $3.4B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $100.4M | $33.8M |
| Free Cash FlowOCF − Capex | $99.8M | $27.2M |
| FCF MarginFCF / Revenue | 29.5% | 5.3% |
| Capex IntensityCapex / Revenue | 0.2% | 1.3% |
| Cash ConversionOCF / Net Profit | 1.80× | 0.84× |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $465.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $33.8M | ||
| Q3 25 | $315.0M | $32.0M | ||
| Q2 25 | — | $269.7M | ||
| Q1 25 | — | $162.8M | ||
| Q4 24 | $-141.1M | $42.2M | ||
| Q3 24 | $108.3M | $23.6M | ||
| Q2 24 | — | $230.7M | ||
| Q1 24 | — | $131.7M |
| Q4 25 | $99.8M | $27.2M | ||
| Q3 25 | $313.4M | $27.8M | ||
| Q2 25 | — | $262.2M | ||
| Q1 25 | — | $148.2M | ||
| Q4 24 | $-141.6M | $37.6M | ||
| Q3 24 | $107.1M | $20.1M | ||
| Q2 24 | — | $227.4M | ||
| Q1 24 | — | $121.9M |
| Q4 25 | 29.5% | 5.3% | ||
| Q3 25 | 110.9% | 5.6% | ||
| Q2 25 | — | 54.9% | ||
| Q1 25 | — | 33.3% | ||
| Q4 24 | -69.2% | 8.6% | ||
| Q3 24 | 57.6% | 4.8% | ||
| Q2 24 | — | 57.0% | ||
| Q1 24 | — | 32.0% |
| Q4 25 | 0.2% | 1.3% | ||
| Q3 25 | 0.6% | 0.8% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | 0.2% | 1.1% | ||
| Q3 24 | 0.7% | 0.8% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 2.6% |
| Q4 25 | 1.80× | 0.84× | ||
| Q3 25 | 2.23× | 0.56× | ||
| Q2 25 | — | 5.62× | ||
| Q1 25 | — | 4.14× | ||
| Q4 24 | -4.75× | 0.12× | ||
| Q3 24 | 1.19× | 0.54× | ||
| Q2 24 | — | 5.97× | ||
| Q1 24 | — | 3.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLO
Segment breakdown not available.
DT
| Subscription And Circulation | $493.4M | 96% |
| Services | $22.1M | 4% |
