{ "ticker": "MELI", "cik": "0001099590", "company": "MercadoLibre, Inc.", "business_type": "e-commerce and fintech", "schema_template": "standard (industrial/tech/consumer) template adapted for a combined e-commerce marketplace and consumer-credit fintech: top line is net revenues and financial income, provision for doubtful accounts shown as its own operating expense, balance sheet adds loans receivable, funds payable to customers and loans payable; segments are the four reporting geographies", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual US dollars (not millions); share counts in actual shares; per-share figures in US dollars. Costs and expenses in the income statement are stated as positive amounts; cash flow lines carry the sign the cash flow statement prints (outflows negative), except capex, which is stated as a positive amount spent", "units_notes_seen": { "FY2025 10-K Consolidated Balance Sheets": "As of December 31, 2025 and 2024 (In millions of U.S. dollars, except par value)", "FY2025 10-K Consolidated Statements of Income": "(In millions of U.S. dollars, except for share data); weighted-average share counts printed in actual shares, per-share amounts in dollars", "FY2025 10-K Consolidated Statements of Cash Flows": "(In millions of U.S. dollars)", "FY2025 10-K Note 8 (Segments)": "(In millions)", "FY2025 10-K Item 7 reconciliation of adjusted free cash flow": "(In millions)", "Q3 2026 10-Q Interim Condensed Consolidated Balance Sheets": "(In millions of U.S. dollars, except par value) (Unaudited)", "Q3 2026 10-Q Interim Condensed Consolidated Statements of Income": "(In millions of U.S. dollars, except for share data) (Unaudited); weighted-average share counts printed in actual shares, per-share amounts in dollars", "Q3 2026 10-Q Interim Condensed Consolidated Statements of Cash Flows": "(In millions of U.S. dollars) (Unaudited)", "Q3 2026 10-Q Note 6 (Segments)": "(In millions)", "Q3 2026 10-Q Item 2 reconciliation of adjusted free cash flow": "(In millions)" }, "adjustments": { "splits_applied": [], "adr_ratio": null, "fx": null, "note": "No adjustment applied. MercadoLibre reports in U.S. dollars, its common stock trades directly on the Nasdaq Global Select Market rather than as American Depositary Shares, and it had no stock split in the periods covered." }, "annual": [ { "fiscal_year": 2025, "label": "FY2025", "period_start": "2025-01-01", "period_end": "2025-12-31", "period_type": "fiscal year", "source_accession": "0001099590-26-000006", "source_statement": "FY2025 Form 10-K: Consolidated Statements of Income and Consolidated Statements of Cash Flows (2025 column); Consolidated Balance Sheets; Note 8 (Segments); Item 7 reconciliation of adjusted free cash flow", "income_statement": { "net_service_revenues_and_financial_income": 25286000000, "net_product_revenues": 3607000000, "total_net_revenue": 28893000000, "cost_of_revenue": 16035000000, "gross_profit": 12858000000, "product_and_technology_development": 2269000000, "sales_and_marketing": 3219000000, "provision_for_doubtful_accounts": 3091000000, "general_and_administrative": 1078000000, "total_operating_expenses": 9657000000, "operating_income": 3201000000, "interest_income_and_other_financial_gains_net": 138000000, "interest_expense_and_other_financial_losses": 160000000, "foreign_currency_losses_net": 337000000, "income_before_income_taxes": 2842000000, "income_tax_expense": 845000000, "net_income": 1997000000, "basic_eps": 39.4, "diluted_eps": 39.4, "equity_in_earnings_of_unconsolidated_entity": 0, "basic_shares": 50697299, "diluted_shares": 50697320 }, "balance_sheet": { "cash_and_cash_equivalents": 3670000000, "restricted_cash_and_cash_equivalents": 9867000000, "short_term_investments": 2629000000, "credit_card_receivables_and_other_means_of_payments_current": 6893000000, "loans_receivable_net_current": 8855000000, "inventories": 570000000, "total_current_assets": 33573000000, "long_term_investments": 1764000000, "loans_receivable_net_non_current": 510000000, "property_and_equipment_net": 2303000000, "goodwill": 163000000, "total_assets": 42667000000, "accounts_payable_and_accrued_expenses": 4502000000, "funds_payable_to_customers": 13029000000, "loans_payable_and_other_financial_liabilities_current": 4623000000, "total_current_liabilities": 28633000000, "loans_payable_and_other_financial_liabilities_non_current": 4570000000, "total_liabilities": 35919000000, "total_equity": 6748000000, "total_liabilities_and_equity": 42667000000, "total_loans_receivable_net": 9365000000, "total_loans_payable_and_other_financial_liabilities": 9193000000 }, "cash_flow": { "depreciation_and_amortization": 818000000, "operating_cash_flow": 12116000000, "changes_in_loans_receivable_net": -6659000000, "capex": 1343000000, "net_cash_from_investing_activities": -6179000000, "proceeds_from_loans_payable_and_other_financial_liabilities": 44050000000, "payments_on_loans_payable_and_other_financial_liabilities": -41088000000, "common_stock_repurchased": -1000000, "net_cash_from_financing_activities": 2904000000, "effect_of_exchange_rate_changes_on_cash": -3000000, "net_increase_in_cash_cash_equivalents_and_restricted_cash": 8838000000, "cash_cash_equivalents_and_restricted_cash_end_of_period": 13537000000, "free_cash_flow": 10773000000 }, "non_gaap": { "adjusted_free_cash_flow": 1481000000 }, "segments": { "brazil": { "net_revenues_and_financial_income": 15201000000, "direct_contribution": 2075000000 }, "mexico": { "net_revenues_and_financial_income": 6475000000, "direct_contribution": 1171000000 }, "argentina": { "net_revenues_and_financial_income": 5962000000, "direct_contribution": 2481000000 }, "other_countries": { "net_revenues_and_financial_income": 1255000000, "direct_contribution": 176000000 } } }, { "fiscal_year": 2024, "label": "FY2024", "period_start": "2024-01-01", "period_end": "2024-12-31", "period_type": "fiscal year", "source_accession": "0001099590-26-000006", "source_statement": "FY2025 Form 10-K: Consolidated Statements of Income and Consolidated Statements of Cash Flows (2024 column); Consolidated Balance Sheets; Note 8 (Segments); Item 7 reconciliation of adjusted free cash flow", "income_statement": { "net_service_revenues_and_financial_income": 18638000000, "net_product_revenues": 2139000000, "total_net_revenue": 20777000000, "cost_of_revenue": 11200000000, "gross_profit": 9577000000, "product_and_technology_development": 1934000000, "sales_and_marketing": 2191000000, "provision_for_doubtful_accounts": 1858000000, "general_and_administrative": 963000000, "total_operating_expenses": 6946000000, "operating_income": 2631000000, "interest_income_and_other_financial_gains_net": 148000000, "interest_expense_and_other_financial_losses": 165000000, "foreign_currency_losses_net": 182000000, "income_before_income_taxes": 2432000000, "income_tax_expense": 521000000, "net_income": 1911000000, "basic_eps": 37.69, "diluted_eps": 37.69, "equity_in_earnings_of_unconsolidated_entity": 0, "basic_shares": 50697428, "diluted_shares": 50697428 }, "balance_sheet": { "cash_and_cash_equivalents": 2635000000, "restricted_cash_and_cash_equivalents": 2064000000, "short_term_investments": 4485000000, "credit_card_receivables_and_other_means_of_payments_current": 5288000000, "loans_receivable_net_current": 4716000000, "inventories": 296000000, "total_current_assets": 20142000000, "long_term_investments": 1203000000, "loans_receivable_net_non_current": 179000000, "property_and_equipment_net": 1380000000, "goodwill": 149000000, "total_assets": 25196000000, "accounts_payable_and_accrued_expenses": 3196000000, "funds_payable_to_customers": 6954000000, "loans_payable_and_other_financial_liabilities_current": 2828000000, "total_current_liabilities": 16603000000, "loans_payable_and_other_financial_liabilities_non_current": 2887000000, "total_liabilities": 20845000000, "total_equity": 4351000000, "total_liabilities_and_equity": 25196000000, "total_loans_receivable_net": 4895000000, "total_loans_payable_and_other_financial_liabilities": 5715000000 }, "cash_flow": { "depreciation_and_amortization": 617000000, "operating_cash_flow": 7918000000, "changes_in_loans_receivable_net": -4688000000, "capex": 860000000, "net_cash_from_investing_activities": -8287000000, "proceeds_from_loans_payable_and_other_financial_liabilities": 19472000000, "payments_on_loans_payable_and_other_financial_liabilities": -17461000000, "common_stock_repurchased": -1000000, "net_cash_from_financing_activities": 1959000000, "effect_of_exchange_rate_changes_on_cash": -739000000, "net_increase_in_cash_cash_equivalents_and_restricted_cash": 851000000, "cash_cash_equivalents_and_restricted_cash_end_of_period": 4699000000, "free_cash_flow": 7058000000 }, "non_gaap": { "adjusted_free_cash_flow": 1215000000 }, "segments": { "brazil": { "net_revenues_and_financial_income": 11406000000, "direct_contribution": 2286000000 }, "mexico": { "net_revenues_and_financial_income": 4664000000, "direct_contribution": 854000000 }, "argentina": { "net_revenues_and_financial_income": 3818000000, "direct_contribution": 1675000000 }, "other_countries": { "net_revenues_and_financial_income": 889000000, "direct_contribution": 117000000 } } }, { "fiscal_year": 2023, "label": "FY2023", "period_start": "2023-01-01", "period_end": "2023-12-31", "period_type": "fiscal year", "source_accession": "0001099590-26-000006", "source_statement": "FY2025 Form 10-K: Consolidated Statements of Income and Consolidated Statements of Cash Flows (2023 column); Note 8 (Segments); Item 7 reconciliation of adjusted free cash flow", "income_statement": { "net_service_revenues_and_financial_income": 13617000000, "net_product_revenues": 1490000000, "total_net_revenue": 15107000000, "cost_of_revenue": 7517000000, "gross_profit": 7590000000, "product_and_technology_development": 1831000000, "sales_and_marketing": 1736000000, "provision_for_doubtful_accounts": 1050000000, "general_and_administrative": 766000000, "total_operating_expenses": 5383000000, "operating_income": 2207000000, "interest_income_and_other_financial_gains_net": 135000000, "interest_expense_and_other_financial_losses": 174000000, "foreign_currency_losses_net": 615000000, "income_before_income_taxes": 1553000000, "income_tax_expense": 569000000, "net_income": 987000000, "basic_eps": 19.64, "diluted_eps": 19.46, "equity_in_earnings_of_unconsolidated_entity": 3000000, "basic_shares": 50262302, "diluted_shares": 51006860 }, "cash_flow": { "depreciation_and_amortization": 524000000, "operating_cash_flow": 5140000000, "changes_in_loans_receivable_net": -2047000000, "capex": 509000000, "net_cash_from_investing_activities": -3450000000, "proceeds_from_loans_payable_and_other_financial_liabilities": 24963000000, "payments_on_loans_payable_and_other_financial_liabilities": -24841000000, "common_stock_repurchased": -356000000, "net_cash_from_financing_activities": -267000000, "effect_of_exchange_rate_changes_on_cash": -938000000, "net_increase_in_cash_cash_equivalents_and_restricted_cash": 485000000, "cash_cash_equivalents_and_restricted_cash_end_of_period": 3848000000, "free_cash_flow": 4631000000 }, "non_gaap": { "adjusted_free_cash_flow": 1439000000 }, "segments": { "brazil": { "net_revenues_and_financial_income": 7821000000, "direct_contribution": 1861000000 }, "mexico": { "net_revenues_and_financial_income": 3071000000, "direct_contribution": 700000000 }, "argentina": { "net_revenues_and_financial_income": 3550000000, "direct_contribution": 1680000000 }, "other_countries": { "net_revenues_and_financial_income": 665000000, "direct_contribution": 50000000 } } } ], "quarterly": [ { "fiscal_year": 2026, "fiscal_quarter": "Q3", "label": "Q3 2026", "period_start": "2026-07-01", "period_end": "2026-09-30", "period_type": "three months", "source_accession": "0001099590-26-000029", "source_statement": "Form 10-Q for the quarter ended September 30, 2026: Interim Condensed Consolidated Statements of Income (three months ended September 30, 2026); Interim Condensed Consolidated Balance Sheet at September 30, 2026; Note 6 (Segments)", "income_statement": { "net_service_revenues_and_financial_income": 9205000000, "net_product_revenues": 1545000000, "total_net_revenue": 10750000000, "cost_of_revenue": 6366000000, "gross_profit": 4384000000, "product_and_technology_development": 745000000, "sales_and_marketing": 1243000000, "provision_for_doubtful_accounts": 1342000000, "general_and_administrative": 378000000, "total_operating_expenses": 3708000000, "operating_income": 676000000, "interest_income_and_other_financial_gains_net": 55000000, "interest_expense_and_other_financial_losses": 58000000, "foreign_currency_losses_net": 72000000, "income_before_income_taxes": 601000000, "income_tax_expense": 153000000, "net_income": 448000000, "basic_eps": 8.83, "diluted_eps": 8.83, "basic_shares": 50696994, "diluted_shares": 50697106 }, "balance_sheet": { "cash_and_cash_equivalents": 4162000000, "restricted_cash_and_cash_equivalents": 14559000000, "short_term_investments": 3213000000, "credit_card_receivables_and_other_means_of_payments_current": 9055000000, "loans_receivable_net_current": 12451000000, "inventories": 1028000000, "total_current_assets": 46111000000, "long_term_investments": 1456000000, "loans_receivable_net_non_current": 589000000, "property_and_equipment_net": 2998000000, "goodwill": 172000000, "total_assets": 57254000000, "accounts_payable_and_accrued_expenses": 6231000000, "funds_payable_to_customers": 17400000000, "loans_payable_and_other_financial_liabilities_current": 6909000000, "total_current_liabilities": 39422000000, "total_liabilities": 49054000000, "total_equity": 8200000000, "total_liabilities_and_equity": 57254000000, "loans_payable_and_other_financial_liabilities_non_current": 6281000000, "total_loans_receivable_net": 13040000000, "total_loans_payable_and_other_financial_liabilities": 13190000000 }, "segments": { "brazil": { "net_revenues_and_financial_income": 6001000000, "direct_contribution": 479000000 }, "mexico": { "net_revenues_and_financial_income": 2429000000, "direct_contribution": 346000000 }, "argentina": { "net_revenues_and_financial_income": 1818000000, "direct_contribution": 613000000 }, "other_countries": { "net_revenues_and_financial_income": 502000000, "direct_contribution": 45000000 } } }, { "fiscal_year": 2025, "fiscal_quarter": "Q3", "label": "Q3 2025", "period_start": "2025-07-01", "period_end": "2025-09-30", "period_type": "three months", "source_accession": "0001099590-26-000029", "source_statement": "Form 10-Q for the quarter ended September 30, 2026, prior-year comparative columns: Interim Condensed Consolidated Statements of Income (three months ended September 30, 2025); 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Note 6 (Segments); reconciliation of adjusted free cash flow in Item 2", "note": "The balance sheet at September 30, 2026 is reported with the third quarter of 2026 in the quarterly series; it is a point in time and is not repeated here.", "income_statement": { "net_service_revenues_and_financial_income": 25612000000, "net_product_revenues": 4152000000, "total_net_revenue": 29764000000, "cost_of_revenue": 17359000000, "gross_profit": 12405000000, "product_and_technology_development": 2173000000, "sales_and_marketing": 3356000000, "provision_for_doubtful_accounts": 3862000000, "general_and_administrative": 1044000000, "total_operating_expenses": 10435000000, "operating_income": 1970000000, "interest_income_and_other_financial_gains_net": 112000000, "interest_expense_and_other_financial_losses": 185000000, "foreign_currency_losses_net": 111000000, "income_before_income_taxes": 1786000000, "income_tax_expense": 455000000, "net_income": 1331000000, "basic_eps": 26.25, "diluted_eps": 26.25, "basic_shares": 50697115, "diluted_shares": 50697234 }, "cash_flow": { "depreciation_and_amortization": 844000000, "operating_cash_flow": 8687000000, "changes_in_loans_receivable_net": -6212000000, "capex": 1215000000, "net_cash_from_investing_activities": -7708000000, "proceeds_from_loans_payable_and_other_financial_liabilities": 55676000000, "payments_on_loans_payable_and_other_financial_liabilities": -51816000000, "common_stock_repurchased": -1000000, "net_cash_from_financing_activities": 3810000000, "effect_of_exchange_rate_changes_on_cash": 395000000, "net_increase_in_cash_cash_equivalents_and_restricted_cash": 5184000000, "cash_cash_equivalents_and_restricted_cash_end_of_period": 18721000000, "free_cash_flow": 7472000000 }, "non_gaap": { "adjusted_free_cash_flow": 443000000 }, "segments": { "brazil": { "net_revenues_and_financial_income": 16305000000, "direct_contribution": 1418000000 }, "mexico": { "net_revenues_and_financial_income": 6742000000, "direct_contribution": 996000000 }, "argentina": { "net_revenues_and_financial_income": 5355000000, "direct_contribution": 1843000000 }, "other_countries": { "net_revenues_and_financial_income": 1362000000, "direct_contribution": 174000000 } }, "prior_year_comparative": { "label": "Nine months ended September 30, 2025", "period_start": "2025-01-01", "period_end": "2025-09-30", "period_type": "nine months", "source_accession": "0001099590-26-000029", "source_statement": "Form 10-Q for the quarter ended September 30, 2026, prior-year comparative nine-month columns: Interim Condensed Consolidated Statements of Income and of Cash Flows; Note 6 (Segments); reconciliation of adjusted free cash flow in Item 2", "income_statement": { "net_service_revenues_and_financial_income": 17760000000, "net_product_revenues": 2374000000, "total_net_revenue": 20134000000, "cost_of_revenue": 11060000000, "gross_profit": 9074000000, "product_and_technology_development": 1685000000, "sales_and_marketing": 2183000000, "provision_for_doubtful_accounts": 2108000000, "general_and_administrative": 786000000, "total_operating_expenses": 6762000000, "operating_income": 2312000000, "interest_income_and_other_financial_gains_net": 130000000, "interest_expense_and_other_financial_losses": 110000000, "foreign_currency_losses_net": 274000000, "income_before_income_taxes": 2058000000, "income_tax_expense": 620000000, "net_income": 1438000000, "basic_eps": 28.37, "diluted_eps": 28.37, "basic_shares": 50697338, "diluted_shares": 50697344 }, "cash_flow": { "depreciation_and_amortization": 580000000, "operating_cash_flow": 6907000000, "changes_in_loans_receivable_net": -4586000000, "capex": 916000000, "net_cash_from_investing_activities": -4178000000, "proceeds_from_loans_payable_and_other_financial_liabilities": 30703000000, "payments_on_loans_payable_and_other_financial_liabilities": -29140000000, "common_stock_repurchased": -1000000, "net_cash_from_financing_activities": 1522000000, "effect_of_exchange_rate_changes_on_cash": 249000000, "net_increase_in_cash_cash_equivalents_and_restricted_cash": 4500000000, "cash_cash_equivalents_and_restricted_cash_end_of_period": 9199000000, "free_cash_flow": 5991000000 }, "non_gaap": { "adjusted_free_cash_flow": 718000000 }, "segments": { "brazil": { "net_revenues_and_financial_income": 10564000000, "direct_contribution": 1558000000 }, "mexico": { "net_revenues_and_financial_income": 4379000000, "direct_contribution": 790000000 }, "argentina": { "net_revenues_and_financial_income": 4350000000, "direct_contribution": 1881000000 }, "other_countries": { "net_revenues_and_financial_income": 841000000, "direct_contribution": 116000000 } } } }, "trailing_twelve_months": { "label": "Trailing twelve months ended September 30, 2026", "period_start": "2025-10-01", "period_end": "2026-09-30", "period_type": "trailing twelve months", "source_accession": "0001099590-26-000029", "also_sourced_from": [ "0001099590-26-000006" ], "derivation": "Full year 2025 as reported in the FY2025 Form 10-K (accession 0001099590-26-000006), plus the nine months ended September 30, 2026, less the nine months ended September 30, 2025, both as reported in the Form 10-Q for the quarter ended September 30, 2026 (accession 0001099590-26-000029). Earnings per share and share counts are averages rather than sums and are not reported on this basis; balance sheet items are points in time and are likewise omitted.", "income_statement": { "net_service_revenues_and_financial_income": 33138000000, "net_product_revenues": 5385000000, "total_net_revenue": 38523000000, "cost_of_revenue": 22334000000, "gross_profit": 16189000000, "product_and_technology_development": 2757000000, "sales_and_marketing": 4392000000, "provision_for_doubtful_accounts": 4845000000, "general_and_administrative": 1336000000, "total_operating_expenses": 13330000000, "operating_income": 2859000000, "interest_income_and_other_financial_gains_net": 120000000, "interest_expense_and_other_financial_losses": 235000000, "foreign_currency_losses_net": 174000000, "income_before_income_taxes": 2570000000, "income_tax_expense": 680000000, "net_income": 1890000000 }, "cash_flow": { "depreciation_and_amortization": 1082000000, "operating_cash_flow": 13896000000, "changes_in_loans_receivable_net": -8285000000, "capex": 1642000000, "net_cash_from_investing_activities": -9709000000, "proceeds_from_loans_payable_and_other_financial_liabilities": 69023000000, "payments_on_loans_payable_and_other_financial_liabilities": -63764000000, "common_stock_repurchased": -1000000, "net_cash_from_financing_activities": 5192000000, "effect_of_exchange_rate_changes_on_cash": 143000000, "net_increase_in_cash_cash_equivalents_and_restricted_cash": 9522000000, "free_cash_flow": 12254000000 }, "non_gaap": { "adjusted_free_cash_flow": 1206000000 } }, "notes": [ "Sources: annual figures for 2025, 2024 and 2023 are from the FY2025 Form 10-K (accession 0001099590-26-000006); the balance sheet is reported there for December 31, 2025 and 2024 only, so FY2023 carries no balance sheet. The third quarters of 2026 and 2025, the nine-month periods, and the balance sheet at September 30, 2026 are from the Form 10-Q for the quarter ended September 30, 2026 (accession 0001099590-26-000029). The December 31, 2025 balance sheet printed in the 10-Q matches the 10-K line for line.", "The top line is what MercadoLibre calls net revenues and financial income: net service revenues and financial income from its commerce and Mercado Pago fintech businesses, plus net product revenues from goods it sells directly (stored as total_net_revenue). Cost of revenue is the company's cost of net revenues and financial expenses, which includes funding costs of the fintech business. Provision for doubtful accounts is reported as an operating expense in its own right and was the fastest-growing cost line: $3.86 billion in the first nine months of 2026 against $2.11 billion a year earlier.", "Beginning January 1, 2024, MercadoLibre moved certain fintech-related interest income, interest expense and hedging results out of other income (expenses) and into net revenues and financial income and cost of net revenues and financial expenses; the 10-K presents 2023 recast on the same basis. The company states the reclassification did not change previously reported net income or earnings per share.", "Free cash flow here is the arithmetic of the cash flow statement: net cash provided by operating activities less investments in property and equipment, intangible assets and intangible assets at fair value. For MercadoLibre it is dominated by growth in customer balances held by Mercado Pago (funds payable to customers added $3.82 billion to operating cash flow in the first nine months of 2026), while the loan book it funds is reported in investing activities (changes in loans receivable, net). The company's own non-GAAP adjusted free cash flow, which also deducts the increase in regulated customer funds, the growth in loans receivable and net fintech funding, is shown separately under non_gaap: $443 million for the first nine months of 2026 against $718 million a year earlier, and $1.48 billion for 2025.", "The company's adjusted free cash flow reconciliation deducts investments in property and equipment and intangible assets of $1,327 million for 2025, slightly less than the $1,343 million on the face of the cash flow statement that is used as capex here. The 10-K presents 2024 and 2023 adjusted free cash flow recast for the company's current definition.", "total_loans_receivable_net adds the current and non-current loans receivable lines of the balance sheet; total_loans_payable_and_other_financial_liabilities adds the current and non-current loans payable and other financial liabilities lines. Both are sums of printed lines, not totals the filings print, and the second excludes operating lease liabilities.", "Segments are the four geographic reporting segments (Brazil, Mexico, Argentina and other countries). Direct contribution is the company's segment measure: segment net revenues and financial income less segment costs, before corporate operating expenses and indirect costs that are not allocated to segments. The four segments' direct contribution sums to the total each filing prints.", "The 10-Q prints cash flows for the nine-month periods only, so the quarterly series carries no cash flow figures. The trailing twelve months are derived as full-year 2025 plus the nine months of 2026 less the nine months of 2025.", "MercadoLibre suspended its dividend from the first quarter of 2018 and paid none in any period covered.", "Diluted earnings per share for 2023 ($19.46) was computed under the if-converted method for the 2.00% Convertible Senior Notes due 2028, which were fully converted or redeemed in November 2023 and added 744,558 shares to the diluted count. The filing does not print the adjusted numerator; the reported $19.46 is slightly above net income divided by the diluted weighted-average share count ($19.35)." ], "uncertainties": [ "The cash flow statements in the 10-Q and the accompanying earnings release cover the nine months ended September 30, 2026 and 2025 only, so no three-month operating, investing or financing cash flow is reported for the third quarter of 2026 or 2025. The filings give only selected three-month figures outside those statements (capital expenditures and depreciation and amortization in the 10-Q's management discussion, and adjusted free cash flow in the release); these are not carried as quarterly cash flow statement lines here.", "The 10-Q's management discussion also prints net revenues and financial income for each quarter of 2025 and the first two quarters of 2026; those single-line quarterly figures are not carried as separate quarterly periods here because the financial statements themselves present only the third quarters of 2026 and 2025." ], "headline": { "period": "Q3 FY2026", "period_end_words": "September 30, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 10750000000, "text": "$10.75 billion", "exact": "$10,750,000,000", "compact": "$10.75B", "abs": "$10.75 billion", "prior_value": 7409000000, "prior": "$7.41 billion", "priorabs": "$7.41 billion", "yoy": "up 45.1%", "source": { "array": "quarterly", "field": "income_statement.total_net_revenue", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001099590-26-000029", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001099590-26-000029", "gap_days": 365 } }, { "label": "Net income", "format": "usd", "value": 448000000, "text": "$448 million", "exact": "$448,000,000", "compact": "$448.00M", "abs": "$448 million", "prior_value": 421000000, "prior": "$421 million", "priorabs": "$421 million", "yoy": "up 6.4%", "source": { "array": "quarterly", "field": "income_statement.net_income", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001099590-26-000029", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001099590-26-000029", "gap_days": 365 } }, { "label": "Diluted EPS", "format": "eps", "value": 8.83, "text": "$8.83", "exact": "$8.83", "compact": "$8.83", "abs": "$8.83", "prior_value": 8.32, "prior": "$8.32", "priorabs": "$8.32", "yoy": "up 6.1%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001099590-26-000029", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001099590-26-000029", "gap_days": 365 } }, { "label": "Operating income", "format": "usd", "value": 676000000, "text": "$676 million", "exact": "$676,000,000", "compact": "$676.00M", "abs": "$676 million", "prior_value": 724000000, "prior": "$724 million", "priorabs": "$724 million", "yoy": "down 6.6%", "source": { "array": "quarterly", "field": "income_statement.operating_income", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001099590-26-000029", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001099590-26-000029", "gap_days": 365 } }, { "label": "Provision for doubtful accounts", "format": "usd", "value": 1342000000, "text": "$1.34 billion", "exact": "$1,342,000,000", "compact": "$1.34B", "abs": "$1.34 billion", "prior_value": 815000000, "prior": "$815 million", "priorabs": "$815 million", "yoy": "up 64.7%", "source": { "array": "quarterly", "field": "income_statement.provision_for_doubtful_accounts", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001099590-26-000029", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001099590-26-000029", "gap_days": 365 } } ], "summary": "MercadoLibre reported net revenues and financial income of $10.75 billion for Q3 FY2026, the quarter ended September 30, 2026, up 45.1% from a year earlier, and net income of $448 million, up 6.4%. Income from operations fell to $676 million, down 6.6%, as the costs of shipping, marketing and a fast-growing credit book rose faster than revenue, with the provision for doubtful accounts reaching $1.34 billion against $815 million a year earlier. Net income still rose, mainly because of a lower effective tax rate, with smaller foreign-exchange losses also helping, and diluted earnings per share were $8.83, compared with $8.32.", "qa": [ { "q": "How much revenue did MercadoLibre make in Q3 FY2026?", "a": "MercadoLibre reported net revenues and financial income of $10.75 billion for Q3 FY2026, the quarter ended September 30, 2026. That is up 45.1% from $7.41 billion in the same quarter a year earlier." }, { "q": "What were MercadoLibre's net income and EPS in Q3 FY2026?", "a": "MercadoLibre earned net income of $448 million in Q3 FY2026, up 6.4% from $421 million a year earlier, or $8.83 per diluted share against $8.32. Net income rose even though operating income fell, mainly because of a lower effective tax rate, with smaller foreign-exchange losses also helping." }, { "q": "Why did MercadoLibre's operating income fall in Q3 FY2026?", "a": "MercadoLibre's income from operations was $676 million in Q3 FY2026, down 6.6% from $724 million a year earlier, even as revenue rose to $10.75 billion. Shipping and fulfillment costs, marketing and provisions for doubtful accounts grew faster than revenue, with the provision for doubtful accounts at $1.34 billion as the company expanded its credit card and loan book." }, { "q": "How much did MercadoLibre set aside for bad loans in Q3 FY2026?", "a": "MercadoLibre recorded a provision for doubtful accounts of $1.34 billion in Q3 FY2026, the quarter ended September 30, 2026, up 64.7% from $815 million a year earlier, as originations in credit cards and consumer and merchant loans grew." } ] }, "company_details": { "Name": "Mercadolibre Inc", "Ticker": "MELI", "CIK": "0001099590", "Exchange": "Nasdaq", "State": "Uruguay", "Incorporation": "", "SIC": "7389", "Office": "Trade & Services", "Industry": "Services-Business Services, NEC" }, "next_filing": { "predicted_date": "2027-02-24", "predicted_type": "10-K" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-09-30", "form": "10-Q", "accession": "0001099590-26-000029", "fiscal_year_end": "1231", "source": "facts" }, "source_filings": [ { "role": "annual", "current": false, "form": "10-K", "fiscal_year": 2025, "fiscal_period": "FY", "tag": "FY25", "period_end": "2025-12-31", "filed": "2026-02-25", "accession": "0001099590-26-000006", "url": "https://www.sec.gov/Archives/edgar/data/1099590/000109959026000006/meli-20251231.htm", "source": "reported" }, { "role": "quarterly", "current": true, "form": "10-Q", "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-09-30", "filed": "2026-11-05", "accession": "0001099590-26-000029", "url": "https://www.sec.gov/Archives/edgar/data/1099590/000109959026000029/meli-20260930.htm", "source": "facts" } ], "figure_sources": { "about": "Where each figure in this file is printed in its SEC filing. 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A figure with no entry is not printed in a tagged filing, either because it was calculated (margins, free cash flow, trailing twelve months, a quarter derived by subtraction) or because it comes from an untagged earnings release.", "documents": { "d1": "https://www.sec.gov/Archives/edgar/data/1099590/000109959026000006/meli-20251231.htm", "d2": "https://www.sec.gov/Archives/edgar/data/1099590/000109959026000029/meli-20260930.htm" }, "annual": [ { "period_end": "2025-12-31", "income_statement": { "net_service_revenues_and_financial_income": "d1#f-174", "net_product_revenues": "d1#f-177", "total_net_revenue": "d1#f-180", "cost_of_revenue": "d1#f-183", "gross_profit": "d1#f-186", "product_and_technology_development": "d1#f-189", "sales_and_marketing": "d1#f-192", "provision_for_doubtful_accounts": "d1#f-195", "general_and_administrative": "d1#f-198", "total_operating_expenses": "d1#f-201", "operating_income": "d1#f-204", "interest_income_and_other_financial_gains_net": "d1#f-207", 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