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Edge3 Jan 2025
Mercado Libre: The Digital Backbone of Latin America
From shopping to logistics and fintech, Mercado Libre is shaping the digital transformation of Latin America.
MercadoLibre
MercadoLibre (MELI) investor relations material
MercadoLibre Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 May, 2026
Executive summary
Net revenues and financial income reached $8.8B, up 49% year-over-year, with strong growth across both commerce and fintech segments.
Net income was $417M, representing a 4.7% margin, while income from operations was $611M, a 6.9% margin.
GMV grew 42% year-over-year to $19.0B, and total payment volume (TPV) surged 50% to $87.2B.
Unique active buyers increased 26% year-over-year, with Brazil leading growth.
Financial highlights
Commerce net revenues rose 47% year-over-year to $4.9B, with a 39% FX-neutral growth rate.
Fintech net revenues grew 51% year-over-year to $4.0B, with a 54% FX-neutral growth rate.
Adjusted EBITDA was $857M, down from $935M in Q1'25.
Adjusted free cash flow was -$56M, reflecting seasonal factors and investments in capex and loan book growth.
Gross profit margin was 43.7%, down 300bps year-over-year.
Outlook and guidance
Margin compression is expected to continue as investments in long-term growth opportunities persist.
Continued focus on expanding credit offerings and fintech services, especially in Brazil.
Explain the Q1 $1.07B increase in net debt
FX impact on the 19.9% operating income decline
Impact of Fintech loan growth on adjusted FCF
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Latest events from MercadoLibre
- Virtual meeting to vote on directors, executive pay, and auditor ratification for 2026.MELI
Proxy filing23 Apr 2026 - Board recommends all proposals, highlights leadership transition, and prioritizes ESG and performance-based pay.MELIProxy filing23 Apr 2026
- Q4 revenue up 45% YoY, record GMV, and robust fintech and commerce growth; margins pressured by investments.MELIQ4 202525 Feb 2026
- Net revenues rose 36.8% to $20.1B, with record GMV and user growth amid margin pressure.MELIQ3 202524 Feb 2026
- Record revenue, user, and credit growth, with strong margins and disciplined investment.MELIQ4 20243 Feb 2026
- Q1 2025 saw 43% revenue growth, 44% net income rise, and record user gains, led by Argentina.MELIQ1 20253 Feb 2026
- Q2 revenue up 42% to $5.1B, net income up 103%, with Brazil and Mexico driving growth.MELIQ2 20242 Feb 2026
- Record growth, strategic focus, and all proposals approved at the annual meeting.MELIAGM 20241 Feb 2026
- Record revenue and user growth, but margins declined due to credit and logistics costs.MELIQ3 202416 Jan 2026
Next MercadoLibre earnings date
AGM 20269 Jun, 2026
MercadoLibre
Next MercadoLibre earnings date
AGM 20269 Jun, 2026
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@theshortbearx.com
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