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Side-by-side financial comparison of dLocal Ltd (DLO) and PROCORE TECHNOLOGIES, INC. (PCOR). Click either name above to swap in a different company.
PROCORE TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($349.1M vs $337.9M, roughly 1.0× dLocal Ltd). dLocal Ltd runs the higher net margin — 16.5% vs -10.8%, a 27.2% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 15.6%). PROCORE TECHNOLOGIES, INC. produced more free cash flow last quarter ($109.2M vs $99.8M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters in Carpinteria, California. Procore hosts a platform to connect those involved in the construction industry on a global platform. The software allows for the creation of simplified workflows and displays a consolidated view of construction products that includes the tracking of tasks, management of project workflows, and scheduling.
DLO vs PCOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $349.1M |
| Net Profit | $55.6M | $-37.6M |
| Gross Margin | 34.3% | 80.1% |
| Operating Margin | 18.6% | -12.3% |
| Net Margin | 16.5% | -10.8% |
| Revenue YoY | 65.2% | 15.6% |
| Net Profit YoY | 87.3% | 39.6% |
| EPS (diluted) | $0.18 | $-0.25 |
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 | $349.1M | ||
| Q3 25 | $282.5M | $338.9M | ||
| Q2 25 | — | $323.9M | ||
| Q1 25 | — | $310.6M | ||
| Q4 24 | $204.5M | $302.0M | ||
| Q3 24 | $185.8M | $295.9M | ||
| Q2 24 | — | $284.3M | ||
| Q1 24 | — | $269.4M |
| Q4 25 | $55.6M | $-37.6M | ||
| Q3 25 | $141.3M | $-9.1M | ||
| Q2 25 | — | $-21.1M | ||
| Q1 25 | — | $-33.0M | ||
| Q4 24 | $29.7M | $-62.3M | ||
| Q3 24 | $90.8M | $-26.4M | ||
| Q2 24 | — | $-6.3M | ||
| Q1 24 | — | $-11.0M |
| Q4 25 | 34.3% | 80.1% | ||
| Q3 25 | 36.5% | 79.7% | ||
| Q2 25 | — | 79.1% | ||
| Q1 25 | — | 79.1% | ||
| Q4 24 | 40.9% | 81.2% | ||
| Q3 24 | 42.1% | 81.4% | ||
| Q2 24 | — | 83.1% | ||
| Q1 24 | — | 83.0% |
| Q4 25 | 18.6% | -12.3% | ||
| Q3 25 | 19.7% | -4.4% | ||
| Q2 25 | — | -9.3% | ||
| Q1 25 | — | -11.7% | ||
| Q4 24 | 20.7% | -21.9% | ||
| Q3 24 | 22.1% | -12.3% | ||
| Q2 24 | — | -5.2% | ||
| Q1 24 | — | -7.0% |
| Q4 25 | 16.5% | -10.8% | ||
| Q3 25 | 50.0% | -2.7% | ||
| Q2 25 | — | -6.5% | ||
| Q1 25 | — | -10.6% | ||
| Q4 24 | 14.5% | -20.6% | ||
| Q3 24 | 48.9% | -8.9% | ||
| Q2 24 | — | -2.2% | ||
| Q1 24 | — | -4.1% |
| Q4 25 | $0.18 | $-0.25 | ||
| Q3 25 | $0.17 | $-0.06 | ||
| Q2 25 | — | $-0.14 | ||
| Q1 25 | — | $-0.22 | ||
| Q4 24 | $0.09 | $-0.42 | ||
| Q3 24 | $0.09 | $-0.18 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-0.08 |
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 | $768.5M |
| Total DebtLower is stronger | $86.7M | — |
| Stockholders' EquityBook value | $569.4M | $1.3B |
| Total Assets | $1.5B | $2.2B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $768.5M | ||
| Q3 25 | $604.5M | $684.0M | ||
| Q2 25 | — | $620.9M | ||
| Q1 25 | — | $566.7M | ||
| Q4 24 | $425.2M | $775.4M | ||
| Q3 24 | $560.5M | $756.9M | ||
| Q2 24 | — | $735.4M | ||
| Q1 24 | — | $744.6M |
| 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 | $1.3B | ||
| Q3 25 | $504.7M | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $489.0M | $1.3B | ||
| Q3 24 | $457.0M | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $1.5B | $2.2B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $1.9B |
| 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 | $114.9M |
| Free Cash FlowOCF − Capex | $99.8M | $109.2M |
| FCF MarginFCF / Revenue | 29.5% | 31.3% |
| Capex IntensityCapex / Revenue | 0.2% | 1.6% |
| Cash ConversionOCF / Net Profit | 1.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $282.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $114.9M | ||
| Q3 25 | $315.0M | $88.5M | ||
| Q2 25 | — | $30.8M | ||
| Q1 25 | — | $66.0M | ||
| Q4 24 | $-141.1M | $29.1M | ||
| Q3 24 | $108.3M | $39.3M | ||
| Q2 24 | — | $58.7M | ||
| Q1 24 | — | $69.1M |
| Q4 25 | $99.8M | $109.2M | ||
| Q3 25 | $313.4M | $83.1M | ||
| Q2 25 | — | $27.9M | ||
| Q1 25 | — | $62.0M | ||
| Q4 24 | $-141.6M | $17.4M | ||
| Q3 24 | $107.1M | $35.7M | ||
| Q2 24 | — | $56.8M | ||
| Q1 24 | — | $67.1M |
| Q4 25 | 29.5% | 31.3% | ||
| Q3 25 | 110.9% | 24.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 20.0% | ||
| Q4 24 | -69.2% | 5.8% | ||
| Q3 24 | 57.6% | 12.1% | ||
| Q2 24 | — | 20.0% | ||
| Q1 24 | — | 24.9% |
| Q4 25 | 0.2% | 1.6% | ||
| Q3 25 | 0.6% | 1.6% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | 0.2% | 3.9% | ||
| Q3 24 | 0.7% | 1.2% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | 1.80× | — | ||
| Q3 25 | 2.23× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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.
Revenue Breakdown by Segment
DLO
Segment breakdown not available.
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
