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  "documentTitle": "dLocal | Results Presentation Deck | 28 slides",
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  "authorName": "dLocal",
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  "presentationDate": "2023-11-01 00:00:00",
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      "text": "Adjusted EBITDA¹ margin QoQ bridge (%) 32.3% 1.8% 0.1% -0.2% -0.3% -0.1% 0.4% -0.2% 0.2% 33.9% Lower expatriation costs Adjusted EBITDA margin 2Q23 Processing costs Hosting expenses Amort. of intangible assets Tech & Dev. ex. salaries S&M ex. salaries G&A ex. salaries Salaries and wages 2 Depreciation & amortization Adjusted EBITDA margin 3Q23",
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      "text": "Note: 'dLocal has only one operating segment. Although Adjusted EBITDA and Adjusted EBITDA Margin may be commonly viewed as non-IFRS measures in other contexts, pursuant to IFRS 8, Adjusted EBITDA and Adjusted EBITDA Margin are treated by dLocal as IFRS measures based on the manner in which dLocal utilizes these measures. 2Salaries and wages exclude share-based non-cash charges as it is excluded from the Adjusted EBITDA calculation. See detailed methodology for Adjusted EBITDA and Adjusted EBITDA Margin in appendix.",
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