MercadoLibre, Inc. (MELI)

MELI Income Statement

Revenue, expenses, and profitability analysis

MELI Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Gross Profit	13.949B	3.862B	3.784B	3.209B	3.094B	2.771B	2.749B	2.439B	2.365B
Revenue	31.803B	8.845B	8.759B	7.409B	6.790B	5.935B	6.059B	5.312B	5.073B
Cost of Goods Sold	17.854B	4.983B	4.975B	4.200B	3.696B	3.164B	3.310B	2.873B	2.708B
Gross Profit Margin	43.7%	43.7%	43.2%	43.3%	45.6%	46.7%	45.4%	45.9%	46.6%
Total Operating Expenses	10.900B	3.251B	2.895B	2.485B	2.269B	2.008B	1.929B	1.882B	1.639B
Research & Development	2.417B	699.000M	584.000M	567.000M	567.000M	551.000M	512.000M	504.000M	460.000M
Selling, General & Administrative	2.104B	-656.000M	2.311B	-563.000M	1.012B	854.000M	890.000M	871.000M	729.000M
Operating Income (EBIT)	3.049B	611.000M	889.000M	724.000M	825.000M	763.000M	820.000M	557.000M	726.000M
Operating Margin	6.9%	6.9%	10.1%	9.8%	12.2%	12.9%	13.5%	10.5%	14.3%
Income Before Tax (EBT)	2.320B	579.000M	784.000M	241.000M	716.000M	706.000M	763.000M	520.000M	668.000M
Interest Income	128.000M	27.000M	8.000M	49.000M	44.000M	37.000M	41.000M	43.000M	39.000M
Interest Expense	174.000M	65.000M	38.000M	35.000M	36.000M	39.000M	48.000M	40.000M	39.000M
Other Income/Expense	-729.000M	-32.000M	-105.000M	-483.000M	-109.000M	-57.000M	-57.000M	-37.000M	-58.000M
Net Income	1.920B	417.000M	559.000M	421.000M	523.000M	494.000M	639.000M	397.000M	531.000M
Income Tax Expense	365.000M	162.000M	225.000M	-215.000M	193.000M	212.000M	124.000M	123.000M	137.000M
Net Profit Margin	4.7%	4.7%	6.4%	5.7%	7.7%	8.3%	10.5%	7.5%	10.5%
EBITDA	3.353B	857.000M	1.060B	485.000M	951.000M	917.000M	963.000M	717.000M	861.000M
EBITDA Margin	9.7%	9.7%	12.1%	6.5%	14.0%	15.5%	15.9%	13.5%	17.0%
Depreciation & Amortization	892.000M	246.000M	238.000M	209.000M	199.000M	172.000M	152.000M	157.000M	154.000M
EPS Basic	37.88	8.23	11.03	8.30	10.32	9.74	12.61	7.83	10.47
EPS Diluted	37.88	8.23	11.03	8.30	10.32	9.74	12.60	7.83	10.47
Shares Outstanding	50.697M	50.697M	50.697M	50.697M	50.697M	50.697M	50.697M	50.697M	50.697M
Diluted Shares Outstanding	50.697M	50.697M	50.697M	50.698M	50.698M	50.697M	50.697M	50.697M	50.697M

MELI Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Gross Profit	12.858B	9.577B	7.590B	5.198B	3.005B	1.709B	1.102B	697.008M
Revenue	28.893B	20.777B	15.107B	10.780B	7.069B	3.974B	2.296B	1.440B
Cost of Goods Sold	16.035B	11.200B	7.517B	5.582B	4.064B	2.265B	1.194B	742.645M
Gross Profit Margin	44.5%	46.1%	50.2%	48.2%	42.5%	43.0%	48.0%	48.4%
Total Operating Expenses	9.657B	6.946B	5.383B	4.129B	2.564B	1.581B	1.255B	766.490M
Research & Development	2.269B	1.934B	1.831B	1.099B	590.000M	353.000M	223.807M	146.273M
Selling, General & Administrative	7.388B	3.154B	2.502B	1.957B	1.539B	1.095B	1.031B	620.217M
Operating Income (EBIT)	3.201B	2.631B	2.207B	1.069B	441.000M	128.000M	-153.161M	-69.482M
Operating Margin	11.1%	12.7%	14.6%	9.9%	6.2%	3.2%	-6.7%	-4.8%
Income Before Tax (EBT)	2.842B	2.432B	1.556B	780.000M	232.000M	81.000M	-107.246M	-65.452M
Interest Income	138.000M	148.000M	135.000M	265.000M	137.962M	102.767M	113.523M	42.039M
Interest Expense	148.000M	153.000M	176.000M	272.000M	228.704M	106.690M	65.876M	56.249M
Other Income/Expense	-359.000M	-199.000M	-651.000M	-289.000M	-209.000M	-47.000M	45.915M	4.030M
Net Income	1.997B	1.911B	987.000M	482.000M	83.000M	-1.000M	-171.999M	-36.585M
Income Tax Expense	845.000M	521.000M	569.000M	298.000M	149.000M	82.000M	64.753M	-28.867M
Net Profit Margin	6.9%	9.2%	6.5%	4.5%	1.2%	-0.0%	-7.5%	-2.5%
EBITDA	3.561B	3.214B	2.251B	1.318B	674.000M	293.000M	31.950M	36.589M
EBITDA Margin	12.3%	15.5%	14.9%	12.2%	9.5%	7.4%	1.4%	2.5%
Depreciation & Amortization	571.000M	617.000M	524.000M	403.000M	204.000M	105.000M	73.320M	45.792M
EPS Basic	39.39	37.69	19.64	9.57	1.67	-0.01	-3.53	-0.82
EPS Diluted	39.39	37.69	19.46	9.53	1.67	-0.01	-3.53	-0.82
Shares Outstanding	50.697M	50.697M	50.262M	50.345M	49.803M	49.740M	48.693M	44.530M
Diluted Shares Outstanding	50.697M	50.697M	51.007M	51.336M	49.803M	49.740M	48.693M	44.530M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About MercadoLibre, Inc.

MercadoLibre, Inc. operates as a prominent provider of digital commerce platforms throughout Latin America. Its primary service, the Mercado Libre Marketplace, is an automated online system allowing businesses, independent vendors, and private individuals to list merchandise and finalize sales. Supporting this, the Mercado Pago FinTech platform offers a financial technology solution, facilitating transactions both on and off its e-commerce sites by enabling users to securely send and receive online payments and transfer funds via web and mobile applications. The company further expands its financial offerings through Mercado Fondo, a service that permits users to invest balances held in their Mercado Pago accounts, and Mercado Credito, which extends credit options to qualified merchants and consumers. For logistics, Mercado Envios provides a comprehensive solution, empowering sellers on its platform to utilize third-party delivery services and other logistical partners, including warehousing and fulfillment capabilities. Beyond these core services, MercadoLibre also runs Mercado Libre Classifieds, an online classifieds platform for motor vehicles, real estate, and professional services. Mercado Libre Ads serves as an advertising platform, assisting major retailers and brands in promoting their products and services across the internet. Lastly, Mercado Shops offers a solution for users to establish, manage, and market their personalized online storefronts. Founded in 1999, MercadoLibre, Inc. is headquartered in Montevideo, Uruguay.

Montevideo

84,207 employees

www.mercadolibre.com

Consumer Cyclical / Specialty Retail

Sector: Consumer Cyclical
Industry: Specialty Retail
CEO: Ariel Szarfsztejn

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