MELI: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	28.89bn	20.78bn
Cost of revenue	16.04bn	11.20bn
Gross profit	12.86bn	9.58bn
Research and development	2.27bn	1.93bn
Selling, general and administrative	1.08bn	963m
Operating expenses	9.66bn	6.95bn
Operating income	3.20bn	2.63bn
Pre-tax income	2.84bn	2.43bn
Income tax	845m	521m
Net income	2.00bn	1.91bn
Earnings per share	39.40	37.69
Earnings per share, diluted	39.40	37.69
Weighted average shares	51m	51m
Weighted average shares, diluted	51m	51m

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	3.68bn	3.67bn	2.58bn	3.01bn	2.98bn	2.64bn	3.48bn	3.82bn
Short-term investments	1.97bn	2.63bn	3.72bn	4.63bn	5.08bn	4.49bn	4.51bn	4.07bn
Receivables	370m	369m	298m	313m	261m	255m	216m	190m
Inventory	677m	570m	532m	434m	358m	296m	322m	257m
Current assets	37.12bn	33.57bn	28.80bn	26.06bn	21.74bn	20.14bn	17.82bn	16.48bn
Goodwill	165m	163m	161m	160m	155m	149m	149m	149m
Total assets	46.93bn	42.67bn	36.69bn	32.95bn	27.68bn	25.20bn	22.62bn	20.03bn
Current liabilities	31.97bn	28.63bn	24.52bn	21.75bn	18.07bn	16.60bn	14.31bn	12.91bn
Total liabilities	39.65bn	35.92bn	30.47bn	27.24bn	22.68bn	20.85bn	18.62bn	16.37bn
Equity	7.28bn	6.75bn	6.22bn	5.71bn	5.00bn	4.35bn	4.00bn	3.66bn
Shares outstanding	51m	51m	51m	51m	51m	51m	51m	51m
Shares issued	51m	51m	51m	51m	51m	51m	51m	51m
Treasury shares	225,931	225,931	225,931	225,474	225,474	225,474	225,474	225,474

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	12.12bn	7.92bn
Depreciation and amortisation	818m	617m
Capital expenditure	1.34bn	860m
Investing cash flow	−6.18bn	−8.29bn
Share buybacks	1m	1m
Financing cash flow	2.90bn	1.96bn