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Side-by-side financial comparison of dLocal Ltd (DLO) and LifeStance Health Group, Inc. (LFST). Click either name above to swap in a different company.
LifeStance Health Group, Inc. is the larger business by last-quarter revenue ($382.2M vs $337.9M, roughly 1.1× dLocal Ltd). dLocal Ltd runs the higher net margin — 16.5% vs 3.1%, a 13.4% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 17.4%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $46.6M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Lifestance Health (Lifestance) is an American outpatient behavioral health services provider. They provide their services in person and via tele-health. Their services include therapy, psychiatry, TMS, and ketamine therapies. They have landed in lawsuits multiple times over labor violations, leaking of customer information, and misleading investors.
DLO vs LFST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $382.2M |
| Net Profit | $55.6M | $11.7M |
| Gross Margin | 34.3% | — |
| Operating Margin | 18.6% | 4.7% |
| Net Margin | 16.5% | 3.1% |
| Revenue YoY | 65.2% | 17.4% |
| Net Profit YoY | 87.3% | 264.1% |
| EPS (diluted) | $0.18 | — |
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 | $382.2M | ||
| Q3 25 | $282.5M | $363.8M | ||
| Q2 25 | — | $345.3M | ||
| Q1 25 | — | $333.0M | ||
| Q4 24 | $204.5M | $325.5M | ||
| Q3 24 | $185.8M | $312.7M | ||
| Q2 24 | — | $312.3M | ||
| Q1 24 | — | $300.4M |
| Q4 25 | $55.6M | $11.7M | ||
| Q3 25 | $141.3M | $1.1M | ||
| Q2 25 | — | $-3.8M | ||
| Q1 25 | — | $709.0K | ||
| Q4 24 | $29.7M | $-7.1M | ||
| Q3 24 | $90.8M | $-6.0M | ||
| Q2 24 | — | $-23.3M | ||
| Q1 24 | — | $-21.1M |
| Q4 25 | 34.3% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 18.6% | 4.7% | ||
| Q3 25 | 19.7% | 2.0% | ||
| Q2 25 | — | -0.9% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | 20.7% | 0.3% | ||
| Q3 24 | 22.1% | 0.0% | ||
| Q2 24 | — | -5.1% | ||
| Q1 24 | — | -5.6% |
| Q4 25 | 16.5% | 3.1% | ||
| Q3 25 | 50.0% | 0.3% | ||
| Q2 25 | — | -1.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 14.5% | -2.2% | ||
| Q3 24 | 48.9% | -1.9% | ||
| Q2 24 | — | -7.5% | ||
| Q1 24 | — | -7.0% |
| Q4 25 | $0.18 | — | ||
| Q3 25 | $0.17 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0.09 | — | ||
| Q3 24 | $0.09 | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $248.6M |
| Total DebtLower is stronger | $86.7M | $282.8M |
| Stockholders' EquityBook value | $569.4M | $1.5B |
| Total Assets | $1.5B | $2.2B |
| Debt / EquityLower = less leverage | 0.15× | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $248.6M | ||
| Q3 25 | $604.5M | $203.9M | ||
| Q2 25 | — | $188.9M | ||
| Q1 25 | — | $134.3M | ||
| Q4 24 | $425.2M | $154.6M | ||
| Q3 24 | $560.5M | $102.6M | ||
| Q2 24 | — | $87.0M | ||
| Q1 24 | — | $49.5M |
| Q4 25 | $86.7M | $282.8M | ||
| Q3 25 | $63.1M | $284.6M | ||
| Q2 25 | — | $286.4M | ||
| Q1 25 | — | $288.2M | ||
| Q4 24 | $39.8M | $290.0M | ||
| Q3 24 | — | $287.3M | ||
| Q2 24 | — | $288.0M | ||
| Q1 24 | — | $288.8M |
| Q4 25 | $569.4M | $1.5B | ||
| Q3 25 | $504.7M | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $489.0M | $1.4B | ||
| Q3 24 | $457.0M | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $1.5B | $2.2B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | 0.15× | 0.19× | ||
| Q3 25 | 0.12× | 0.19× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | 0.08× | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.20× | ||
| Q1 24 | — | 0.20× |
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 | $57.6M |
| Free Cash FlowOCF − Capex | $99.8M | $46.6M |
| FCF MarginFCF / Revenue | 29.5% | 12.2% |
| Capex IntensityCapex / Revenue | 0.2% | 2.9% |
| Cash ConversionOCF / Net Profit | 1.80× | 4.93× |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $110.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $57.6M | ||
| Q3 25 | $315.0M | $27.3M | ||
| Q2 25 | — | $64.4M | ||
| Q1 25 | — | $-3.1M | ||
| Q4 24 | $-141.1M | $62.3M | ||
| Q3 24 | $108.3M | $22.7M | ||
| Q2 24 | — | $44.1M | ||
| Q1 24 | — | $-21.8M |
| Q4 25 | $99.8M | $46.6M | ||
| Q3 25 | $313.4M | $17.0M | ||
| Q2 25 | — | $56.6M | ||
| Q1 25 | — | $-10.3M | ||
| Q4 24 | $-141.6M | $56.0M | ||
| Q3 24 | $107.1M | $17.7M | ||
| Q2 24 | — | $39.0M | ||
| Q1 24 | — | $-26.9M |
| Q4 25 | 29.5% | 12.2% | ||
| Q3 25 | 110.9% | 4.7% | ||
| Q2 25 | — | 16.4% | ||
| Q1 25 | — | -3.1% | ||
| Q4 24 | -69.2% | 17.2% | ||
| Q3 24 | 57.6% | 5.7% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | -9.0% |
| Q4 25 | 0.2% | 2.9% | ||
| Q3 25 | 0.6% | 2.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 0.2% | 1.9% | ||
| Q3 24 | 0.7% | 1.6% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | 1.80× | 4.93× | ||
| Q3 25 | 2.23× | 25.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -4.36× | ||
| Q4 24 | -4.75× | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
