Meesho
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Meesho (MEESHO) investor relations material

Meesho Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary30 Jan, 2026

Executive summary

  • Annual transacting user base reached 251 million, up 34% year-over-year, maintaining leadership in user and order volume among Indian platforms.

  • Seller base grew 81% year-over-year to 846,000, driven by onboarding non-GST sellers and improved technology for sellers.

  • Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved and published following a Board meeting on January 30, 2026.

  • The company completed its IPO, listing shares on NSE and BSE on December 10, 2025.

  • Major corporate restructuring included a composite scheme of arrangement, demerger of grocery and marketplace businesses, and amalgamation of the erstwhile holding company.

Financial highlights

  • Consolidated revenue from operations for the quarter ended December 31, 2025, was ₹35,175.98 million; for the nine months, ₹90,951.36 million.

  • Consolidated net loss for the quarter was ₹4,906.75 million; for the nine months, ₹11,913.93 million.

  • NMV for Q3 was INR 10,995 crore, up 26% year-over-year; nine-month NMV grew 37%.

  • LTM free cash flow was INR 56 crore, with free cash flow to equity at INR 437 crore and a cash balance of INR 7,277 crore.

  • Standalone revenue for the quarter was ₹15,788.85 million; net profit was ₹7,335.34 million, driven by a one-time gain on demerger.

Segment performance

  • Marketplace segment contributed ₹35,151.66 million in revenue for the quarter; New Initiatives contributed ₹24.32 million.

  • Segment results showed a loss of ₹4,602.31 million for Marketplace and a loss of ₹193.91 million for New Initiatives in the quarter.

  • Home and kitchen, beauty, personal care, kids, and grocery categories are growing rapidly, with Meesho Mall driving branded product growth.

  • Top quartile users transact over 20 times a year, with frequency increasing as cohorts mature.

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