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Side-by-side financial comparison of dLocal Ltd (DLO) and Shutterstock, Inc. (SSTK). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $220.2M, roughly 1.5× Shutterstock, Inc.). dLocal Ltd runs the higher net margin — 16.5% vs -7.3%, a 23.7% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs -12.0%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $25.9M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Shutterstock, Inc. is an American provider of stock photography, stock footage, stock music, and editing tools; it is headquartered in New York. Founded in 2002 by programmer and photographer Jon Oringer, Shutterstock maintains a library of around 200 million royalty-free stock photos, vector graphics, and illustrations, with around 10 million video clips and music tracks available for licensing. Originally a subscription site only, Shutterstock expanded beyond subscriptions into à la carte p...
DLO vs SSTK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $220.2M |
| Net Profit | $55.6M | $-16.0M |
| Gross Margin | 34.3% | 55.8% |
| Operating Margin | 18.6% | -1.1% |
| Net Margin | 16.5% | -7.3% |
| Revenue YoY | 65.2% | -12.0% |
| Net Profit YoY | 87.3% | -1021.0% |
| EPS (diluted) | $0.18 | $-0.47 |
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 | $220.2M | ||
| Q3 25 | $282.5M | $260.1M | ||
| Q2 25 | — | $267.0M | ||
| Q1 25 | — | $242.6M | ||
| Q4 24 | $204.5M | $250.3M | ||
| Q3 24 | $185.8M | $250.6M | ||
| Q2 24 | — | $220.1M | ||
| Q1 24 | — | $214.3M |
| Q4 25 | $55.6M | $-16.0M | ||
| Q3 25 | $141.3M | $13.4M | ||
| Q2 25 | — | $29.4M | ||
| Q1 25 | — | $18.7M | ||
| Q4 24 | $29.7M | $-1.4M | ||
| Q3 24 | $90.8M | $17.6M | ||
| Q2 24 | — | $3.6M | ||
| Q1 24 | — | $16.1M |
| Q4 25 | 34.3% | 55.8% | ||
| Q3 25 | 36.5% | 60.6% | ||
| Q2 25 | — | 60.3% | ||
| Q1 25 | — | 58.4% | ||
| Q4 24 | 40.9% | 55.1% | ||
| Q3 24 | 42.1% | 58.3% | ||
| Q2 24 | — | 58.5% | ||
| Q1 24 | — | 58.8% |
| Q4 25 | 18.6% | -1.1% | ||
| Q3 25 | 19.7% | 12.5% | ||
| Q2 25 | — | 13.0% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 20.7% | 5.3% | ||
| Q3 24 | 22.1% | 7.2% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | — | 7.8% |
| Q4 25 | 16.5% | -7.3% | ||
| Q3 25 | 50.0% | 5.1% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | 14.5% | -0.6% | ||
| Q3 24 | 48.9% | 7.0% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 7.5% |
| Q4 25 | $0.18 | $-0.47 | ||
| Q3 25 | $0.17 | $0.37 | ||
| Q2 25 | — | $0.82 | ||
| Q1 25 | — | $0.53 | ||
| Q4 24 | $0.09 | $-0.04 | ||
| Q3 24 | $0.09 | $0.50 | ||
| Q2 24 | — | $0.10 | ||
| Q1 24 | — | $0.45 |
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 | $178.2M |
| Total DebtLower is stronger | $86.7M | — |
| Stockholders' EquityBook value | $569.4M | $581.0M |
| Total Assets | $1.5B | $1.4B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $178.2M | ||
| Q3 25 | $604.5M | $165.5M | ||
| Q2 25 | — | $116.4M | ||
| Q1 25 | — | $112.2M | ||
| Q4 24 | $425.2M | $111.3M | ||
| Q3 24 | $560.5M | $131.4M | ||
| Q2 24 | — | $74.9M | ||
| Q1 24 | — | $71.8M |
| 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 | $581.0M | ||
| Q3 25 | $504.7M | $594.4M | ||
| Q2 25 | — | $586.2M | ||
| Q1 25 | — | $547.2M | ||
| Q4 24 | $489.0M | $518.4M | ||
| Q3 24 | $457.0M | $522.9M | ||
| Q2 24 | — | $520.4M | ||
| Q1 24 | — | $541.3M |
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.0B |
| 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 | $36.2M |
| Free Cash FlowOCF − Capex | $99.8M | $25.9M |
| FCF MarginFCF / Revenue | 29.5% | 11.8% |
| Capex IntensityCapex / Revenue | 0.2% | 4.7% |
| Cash ConversionOCF / Net Profit | 1.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $123.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $36.2M | ||
| Q3 25 | $315.0M | $78.4M | ||
| Q2 25 | — | $26.8M | ||
| Q1 25 | — | $25.2M | ||
| Q4 24 | $-141.1M | $8.0M | ||
| Q3 24 | $108.3M | $-11.6M | ||
| Q2 24 | — | $28.0M | ||
| Q1 24 | — | $8.3M |
| Q4 25 | $99.8M | $25.9M | ||
| Q3 25 | $313.4M | $68.0M | ||
| Q2 25 | — | $15.5M | ||
| Q1 25 | — | $14.4M | ||
| Q4 24 | $-141.6M | $-952.0K | ||
| Q3 24 | $107.1M | $-26.3M | ||
| Q2 24 | — | $18.9M | ||
| Q1 24 | — | $-6.2M |
| Q4 25 | 29.5% | 11.8% | ||
| Q3 25 | 110.9% | 26.1% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | -69.2% | -0.4% | ||
| Q3 24 | 57.6% | -10.5% | ||
| Q2 24 | — | 8.6% | ||
| Q1 24 | — | -2.9% |
| Q4 25 | 0.2% | 4.7% | ||
| Q3 25 | 0.6% | 4.0% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | 4.5% | ||
| Q4 24 | 0.2% | 3.6% | ||
| Q3 24 | 0.7% | 5.9% | ||
| Q2 24 | — | 4.1% | ||
| Q1 24 | — | 6.7% |
| Q4 25 | 1.80× | — | ||
| Q3 25 | 2.23× | 5.86× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | — | 1.35× | ||
| Q4 24 | -4.75× | — | ||
| Q3 24 | 1.19× | -0.66× | ||
| Q2 24 | — | 7.71× | ||
| Q1 24 | — | 0.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
