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Side-by-side financial comparison of dLocal Ltd (DLO) and Bio-Techne (TECH). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $295.9M, roughly 1.1× Bio-Techne). dLocal Ltd runs the higher net margin — 16.5% vs 12.8%, a 3.6% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs -6.4%).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
DLO vs TECH — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $295.9M |
| Net Profit | $55.6M | $38.0M |
| Gross Margin | 34.3% | 64.6% |
| Operating Margin | 18.6% | 18.4% |
| Net Margin | 16.5% | 12.8% |
| Revenue YoY | 65.2% | -6.4% |
| Net Profit YoY | 87.3% | 68.3% |
| EPS (diluted) | $0.18 | $0.24 |
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 | $295.9M | ||
| Q3 25 | $282.5M | — | ||
| Q2 25 | — | $317.0M | ||
| Q1 25 | — | $316.2M | ||
| Q4 24 | $204.5M | $297.0M | ||
| Q3 24 | $185.8M | $289.5M | ||
| Q2 24 | — | $306.1M | ||
| Q1 24 | — | $303.4M |
| Q4 25 | $55.6M | $38.0M | ||
| Q3 25 | $141.3M | — | ||
| Q2 25 | — | $-17.7M | ||
| Q1 25 | — | $22.6M | ||
| Q4 24 | $29.7M | $34.9M | ||
| Q3 24 | $90.8M | $33.6M | ||
| Q2 24 | — | $40.6M | ||
| Q1 24 | — | $49.1M |
| Q4 25 | 34.3% | 64.6% | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | 62.7% | ||
| Q1 25 | — | 67.9% | ||
| Q4 24 | 40.9% | 65.3% | ||
| Q3 24 | 42.1% | 63.2% | ||
| Q2 24 | — | 66.4% | ||
| Q1 24 | — | 67.4% |
| Q4 25 | 18.6% | 18.4% | ||
| Q3 25 | 19.7% | — | ||
| Q2 25 | — | -7.5% | ||
| Q1 25 | — | 12.2% | ||
| Q4 24 | 20.7% | 16.0% | ||
| Q3 24 | 22.1% | 13.8% | ||
| Q2 24 | — | 15.0% | ||
| Q1 24 | — | 22.1% |
| Q4 25 | 16.5% | 12.8% | ||
| Q3 25 | 50.0% | — | ||
| Q2 25 | — | -5.6% | ||
| Q1 25 | — | 7.1% | ||
| Q4 24 | 14.5% | 11.7% | ||
| Q3 24 | 48.9% | 11.6% | ||
| Q2 24 | — | 13.3% | ||
| Q1 24 | — | 16.2% |
| Q4 25 | $0.18 | $0.24 | ||
| Q3 25 | $0.17 | — | ||
| Q2 25 | — | $-0.11 | ||
| Q1 25 | — | $0.14 | ||
| Q4 24 | $0.09 | $0.22 | ||
| Q3 24 | $0.09 | $0.21 | ||
| Q2 24 | — | $0.26 | ||
| Q1 24 | — | $0.31 |
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 | $172.9M |
| Total DebtLower is stronger | $86.7M | $260.0M |
| Stockholders' EquityBook value | $569.4M | $2.0B |
| Total Assets | $1.5B | $2.5B |
| Debt / EquityLower = less leverage | 0.15× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $172.9M | ||
| Q3 25 | $604.5M | — | ||
| Q2 25 | — | $162.2M | ||
| Q1 25 | — | $140.7M | ||
| Q4 24 | $425.2M | $177.5M | ||
| Q3 24 | $560.5M | $187.5M | ||
| Q2 24 | — | $152.9M | ||
| Q1 24 | — | $145.3M |
| Q4 25 | $86.7M | $260.0M | ||
| Q3 25 | $63.1M | — | ||
| Q2 25 | — | $346.0M | ||
| Q1 25 | — | $330.0M | ||
| Q4 24 | $39.8M | $300.0M | ||
| Q3 24 | — | $300.0M | ||
| Q2 24 | — | $319.0M | ||
| Q1 24 | — | $389.0M |
| Q4 25 | $569.4M | $2.0B | ||
| Q3 25 | $504.7M | — | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $489.0M | $2.1B | ||
| Q3 24 | $457.0M | $2.1B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.0B |
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $1.2B | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
| Q4 25 | 0.15× | 0.13× | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | 0.08× | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.19× |
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 | — |
| Free Cash FlowOCF − Capex | $99.8M | — |
| FCF MarginFCF / Revenue | 29.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 1.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | — | ||
| Q3 25 | $315.0M | — | ||
| Q2 25 | — | $98.2M | ||
| Q1 25 | — | $41.1M | ||
| Q4 24 | $-141.1M | $84.3M | ||
| Q3 24 | $108.3M | $63.9M | ||
| Q2 24 | — | $75.5M | ||
| Q1 24 | — | $81.0M |
| Q4 25 | $99.8M | — | ||
| Q3 25 | $313.4M | — | ||
| Q2 25 | — | $93.3M | ||
| Q1 25 | — | $31.0M | ||
| Q4 24 | $-141.6M | $77.5M | ||
| Q3 24 | $107.1M | $54.7M | ||
| Q2 24 | — | $57.5M | ||
| Q1 24 | — | $64.5M |
| Q4 25 | 29.5% | — | ||
| Q3 25 | 110.9% | — | ||
| Q2 25 | — | 29.4% | ||
| Q1 25 | — | 9.8% | ||
| Q4 24 | -69.2% | 26.1% | ||
| Q3 24 | 57.6% | 18.9% | ||
| Q2 24 | — | 18.8% | ||
| Q1 24 | — | 21.3% |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | 0.2% | 2.3% | ||
| Q3 24 | 0.7% | 3.2% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | 5.4% |
| Q4 25 | 1.80× | — | ||
| Q3 25 | 2.23× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | -4.75× | 2.42× | ||
| Q3 24 | 1.19× | 1.90× | ||
| Q2 24 | — | 1.86× | ||
| Q1 24 | — | 1.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLO
Segment breakdown not available.
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
