• On 20 April 2026, DLocal Limited reported that the New York Appellate Division unanimously upheld the full dismissal of a securities class action alleging misleading disclosures about trends in its take rate.
• The appellate court’s finding that plaintiffs failed to identify a known material trend, given DLocal’s reported TPV, revenue, and gross profit growth, removes a significant legal overhang for investors assessing disclosure risk.
• We’ll now examine how this appellate affirmation of the lawsuit’s dismissal may influence DLocal’s investment narrative and perceived legal-risk profile.

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DLocal Investment Narrative Recap

To own DLocal, you need to believe its emerging market payments platform can keep growing volumes and profits despite pressure on take rates and regulation. The New York appellate ruling largely clears a legal cloud around disclosure practices, but it does not change the near term reliance on a concentrated merchant base or the ongoing risk that pricing and competition could compress margins.

The ruling comes soon after DLocal reported full year 2025 revenue of US$1,093.6 million and net income of US$196.8 million, alongside guidance for 27.5% to 32.5% operating profit growth in 2026. In that context, the court’s affirmation removes one source of uncertainty just as investors are focused on whether earnings delivery and product expansion, including stablecoin rails, can offset structural take rate pressure and regulatory costs.

Yet against this cleaner legal backdrop, investors still need to weigh the risk that rising regulatory demands and cross border frictions could materially alter DLocal’s growth profile...

DLocal's narrative projects $1.7 billion revenue and $346.3 million earnings by 2028. This requires 25.7% yearly revenue growth and about a $200.4 million earnings increase from $145.9 million today.

Uncover how DLocal's forecasts yield a $17.85 fair value, a 34% upside to its current price.

Exploring Other Perspectives

Some of the lowest estimate analysts were already cautious, assuming revenue of about US$2.0 billion and earnings of roughly US$361.9 million by 2029, so this legal win may or may not shift that more pessimistic view of higher regulatory and compliance burdens.

Explore 19 other fair value estimates on DLocal - why the stock might be worth just $14.50!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your DLocal research is our analysis highlighting 4 key rewards that could impact your investment decision.
• Our free DLocal research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate DLocal's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.