MercadoLibre, Inc. (MELI) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 8.85B | 8.76B | 7.41B | 6.79B | 5.93B | 6.06B | 5.31B | 5.07B | 4.33B | 4.26B | 3.93B | 3.58B | 3.19B | 3B | 2.69B | 2.6B | 2.25B | 2.13B | 1.86B | 1.7B |
| Revenue Growth % | 49.03% | 44.56% | 39.48% | 33.85% | 36.97% | 42.2% | 35.27% | 41.51% | 36% | 41.94% | 45.99% | 38.04% | 41.73% | 40.89% | 44.78% | 52.5% | 63.13% | 60.53% | 66.53% | 93.88% |
| Cost of Goods Sold | 4.98B | 4.97B | 4.2B | 3.7B | 3.16B | 3.31B | 2.87B | 2.71B | 2.31B | 2.31B | 1.83B | 1.75B | 1.57B | 1.54B | 1.34B | 1.31B | 1.18B | 1.28B | 1.05B | 949M |
| COGS % of Revenue | 56.34% | 56.8% | 56.69% | 54.43% | 53.31% | 54.63% | 54.09% | 53.38% | 53.29% | 54.12% | 46.65% | 48.93% | 49.34% | 51.43% | 49.89% | 50.56% | 52.27% | 59.96% | 56.57% | 55.73% |
| Gross Profit | 3.86B | 3.78B | 3.21B | 3.09B | 2.77B | 2.75B | 2.44B | 2.37B | 2.02B | 1.96B | 2.1B | 1.83B | 1.61B | 1.46B | 1.35B | 1.28B | 1.07B | 853.16M | 807M | 754M |
| Gross Margin % | 43.66% | 43.2% | 43.31% | 45.57% | 46.69% | 45.37% | 45.91% | 46.62% | 46.71% | 45.88% | 53.35% | 51.07% | 50.66% | 48.57% | 50.11% | 49.44% | 47.73% | 40.04% | 43.43% | 44.27% |
| Gross Profit Growth % | 39.37% | 37.65% | 31.57% | 30.82% | 36.91% | 40.61% | 16.42% | 29.16% | 25.4% | 34.09% | 55.42% | 42.6% | 50.42% | 70.89% | 67.04% | 70.29% | 81.56% | 74.46% | 68.06% | 76.51% |
| Operating Expenses | 3.25B | 2.9B | 2.48B | 2.27B | 2.01B | 1.93B | 1.88B | 1.64B | 1.5B | 1.72B | 1.31B | 1.16B | 1.2B | 1.11B | 1.05B | 1.03B | 934M | 829.85M | 647M | 588M |
| OpEx % of Revenue | 36.76% | 33.05% | 33.54% | 33.42% | 33.83% | 31.84% | 35.43% | 32.31% | 34.53% | 40.25% | 33.36% | 32.41% | 37.54% | 36.94% | 39.11% | 39.82% | 41.55% | 38.95% | 34.82% | 34.53% |
| Selling, General & Admin | -656M | 2.31B | -563M | 1.01B | 854M | 890M | 871M | 729M | 664M | 730M | 637M | 572M | 563M | 556M | 486M | 469M | 445M | 650.21M | 404M | 359M |
| SG&A % of Revenue | -7.42% | 26.38% | -7.6% | 14.9% | 14.39% | 14.69% | 16.4% | 14.37% | 15.32% | 17.13% | 16.22% | 15.96% | 17.67% | 18.52% | 18.07% | 18.06% | 19.8% | 30.52% | 21.74% | 21.08% |
| Research & Development | 699M | 584M | 567M | 567M | 551M | 512M | 504M | 460M | 458M | 686M | 396M | 368M | 381M | 325M | 278M | 262M | 234M | 179.64M | 138M | 147M |
| R&D % of Revenue | 7.9% | 6.67% | 7.65% | 8.35% | 9.28% | 8.45% | 9.49% | 9.07% | 10.57% | 16.1% | 10.08% | 10.27% | 11.96% | 10.83% | 10.33% | 10.09% | 10.41% | 8.43% | 7.43% | 8.63% |
| Other Operating Expenses | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 1000K | 1000K |
| Operating Income | 611M | 889M | 724M | 825M | 763M | 820M | 557M | 726M | 528M | 240M | 785M | 669M | 418M | 349M | 296M | 250M | 139M | 23.32M | 160M | 166M |
| Operating Margin % | 6.91% | 10.15% | 9.77% | 12.15% | 12.86% | 13.53% | 10.49% | 14.31% | 12.19% | 5.63% | 19.99% | 18.66% | 13.12% | 11.63% | 11% | 9.63% | 6.18% | 1.09% | 8.61% | 9.75% |
| Operating Income Growth % | -19.92% | 8.41% | 29.98% | 13.64% | 44.51% | 241.67% | -29.04% | 8.52% | 26.32% | -31.23% | 165.2% | 167.6% | 200.72% | 1396.83% | 85% | 50.6% | 52.75% | 192.8% | 92.6% | 66.94% |
| EBITDA | 857M | 1.13B | 933M | 1.02B | 935M | 972M | 714M | 880M | 682M | 375M | 920M | 797M | 544M | 471M | 393M | 350M | 223M | 90.5M | 212M | 213M |
| EBITDA Margin % | 9.69% | 12.87% | 12.59% | 15.08% | 15.75% | 16.04% | 13.44% | 17.35% | 15.74% | 8.8% | 23.43% | 22.23% | 17.07% | 15.69% | 14.61% | 13.48% | 9.92% | 4.25% | 11.41% | 12.51% |
| EBITDA Growth % | -8.34% | 15.95% | 30.67% | 16.36% | 37.1% | 159.2% | -22.39% | 10.41% | 25.37% | -20.38% | 134.1% | 127.71% | 143.95% | 420.46% | 85.38% | 64.32% | 72.87% | 1117.99% | 90.46% | 74.46% |
| D&A (Non-Cash Add-back) | 246M | 238M | 209M | 199M | 172M | 152M | 157M | 154M | 154M | 135M | 135M | 128M | 126M | 122M | 97M | 100M | 84M | 67.18M | 52M | 47M |
| EBIT | 611M | 822M | 276M | 752M | 745M | 811M | 560M | 707M | 519M | 311M | 584M | 521M | 354M | 408M | 290M | 236M | 167M | 19.74M | 170M | 178M |
| Net Interest Income | -38M | -30M | 14M | 8M | -2M | -7M | 3M | 0 | -13M | 2M | -15M | -15M | -11M | 23M | -27M | -27M | 24M | -304K | -9.04M | -15.18M |
| Interest Income | 27M | 8M | 49M | 44M | 37M | 41M | 43M | 39M | 25M | 40M | 38M | 34M | 23M | 123M | 65M | 46M | 31M | 53.37M | 35.35M | 24.16M |
| Interest Expense | 65M | 38M | 35M | 36M | 39M | 48M | 40M | 39M | 38M | 38M | 53M | 49M | 34M | 100M | 92M | 73M | 7M | 53.68M | 44.4M | 39.34M |
| Other Income/Expense | -32M | -105M | -483M | -109M | -57M | -57M | -37M | -58M | -47M | -10M | -254M | -197M | -95M | -40M | -98M | -88M | -28M | -65.78M | -34M | -28M |
| Pretax Income | 579M | 784M | 241M | 716M | 706M | 763M | 520M | 668M | 481M | 230M | 531M | 472M | 323M | 309M | 198M | 162M | 111M | -42.46M | 126M | 138M |
| Pretax Margin % | 6.55% | 8.95% | 3.25% | 10.54% | 11.9% | 12.59% | 9.79% | 13.17% | 11.1% | 5.4% | 13.52% | 13.17% | 10.14% | 10.29% | 7.36% | 6.24% | 4.94% | -1.99% | 6.78% | 8.1% |
| Income Tax | 162M | 225M | -215M | 193M | 212M | 124M | 123M | 137M | 137M | 65M | 172M | 210M | 122M | 144M | 69M | 39M | 46M | 3.64M | 31M | 70M |
| Effective Tax Rate % | 27.98% | 28.7% | -89.21% | 26.96% | 30.03% | 16.25% | 23.65% | 20.51% | 28.48% | 28.26% | 32.39% | 44.49% | 37.77% | 46.6% | 34.85% | 24.07% | 41.44% | -8.58% | 24.6% | 50.72% |
| Net Income | 417M | 559M | 421M | 523M | 494M | 639M | 397M | 531M | 344M | 165M | 359M | 262M | 201M | 165M | 129M | 123M | 65M | -46.1M | 95M | 68M |
| Net Margin % | 4.71% | 6.38% | 5.68% | 7.7% | 8.32% | 10.55% | 7.47% | 10.47% | 7.94% | 3.87% | 9.14% | 7.31% | 6.31% | 5.5% | 4.8% | 4.74% | 2.89% | -2.16% | 5.11% | 3.99% |
| Net Income Growth % | -15.59% | -12.52% | 6.05% | -1.51% | 43.6% | 287.27% | 10.59% | 102.67% | 71.14% | 0% | 178.29% | 113.01% | 209.23% | 457.89% | 35.79% | 80.88% | 291.18% | 8.85% | 531.86% | 21.54% |
| Net Income (Continuing) | 417M | 559M | 456M | 523M | 494M | 639M | 397M | 531M | 344M | 165M | 359M | 262M | 201M | 165M | 129M | 123M | 65M | -46.1M | 95M | 68M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 8.23 | 11.03 | 8.30 | 10.32 | 9.74 | 12.60 | 7.83 | 10.47 | 6.79 | 3.25 | 7.15 | 5.12 | 3.92 | 3.22 | 2.51 | 2.44 | 1.29 | -0.94 | 1.92 | 1.37 |
| EPS Growth % | -15.5% | -12.46% | 6% | -1.43% | 43.45% | 287.69% | 9.51% | 104.49% | 73.21% | 0.93% | 184.86% | 109.84% | 203.88% | 442.55% | 30.73% | 78.1% | 289.71% | 7.84% | 540% | 21.24% |
| EPS (Basic) | 8.23 | 11.03 | 8.30 | 10.32 | 9.74 | 12.61 | 7.83 | 10.47 | 6.79 | 3.26 | 7.18 | 5.22 | 4.00 | 3.28 | 2.56 | 2.44 | 1.29 | -0.94 | 1.92 | 1.37 |
| Diluted Shares Outstanding | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.21M | 51.15M | 51.24M | 51.27M | 51.32M | 50.36M | 50.41M | 49.8M | 49.6M | 49.82M |
| Basic Shares Outstanding | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.7M | 50.63M | 50.01M | 50.16M | 50.25M | 50.28M | 50.33M | 50.36M | 50.41M | 49.8M | 49.6M | 49.82M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |