MercadoLibre Files Q3 2024 10-Q

TL;DR

MELI Q3 10-Q is in. Check financials for e-comm & fintech performance.

AI Summary

MercadoLibre Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial data and business segments are presented, reflecting the company's ongoing activities in the e-commerce and fintech sectors.

Why It Matters

This filing provides investors with the latest financial results and operational insights from MercadoLibre, a major player in Latin American e-commerce and fintech.

Risk Assessment

Risk Level: medium — As a publicly traded company with significant operations, MercadoLibre faces inherent market, regulatory, and operational risks detailed in its SEC filings.

Key Numbers

• 3,050 — Total Assets (As of September 30, 2024)
• 3,042 — Total Assets (As of December 31, 2023)

Key Players & Entities

• MERCADOLIBRE INC (company) — Filer
• 0001099590-24-000042 (other) — Accession Number
• 20240930 (date) — Period of Report
• 20241107 (date) — Filed as of Date
• MONTEVIDEO (location) — Business Address City

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share MELI Nasdaq Global

Filing Documents

• meli-20240930.htm (10-Q) — 3358KB
• meli-20240930xexx311.htm (EX-31.1) — 10KB
• meli-20240930xexx312.htm (EX-31.2) — 10KB
• meli-20240930xexx321.htm (EX-32.1) — 6KB
• meli-20240930xexx322.htm (EX-32.2) — 6KB
• 0001099590-24-000042.txt ( ) — 17210KB
• meli-20240930.xsd (EX-101.SCH) — 101KB
• meli-20240930_cal.xml (EX-101.CAL) — 132KB
• meli-20240930_def.xml (EX-101.DEF) — 476KB
• meli-20240930_lab.xml (EX-101.LAB) — 991KB
• meli-20240930_pre.xml (EX-101.PRE) — 729KB
• meli-20240930_htm.xml (XML) — 3805KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

— UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1

ITEM 1 — UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1 Interim Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Interim Condensed Consolidated Statements of Income for the nine and three-month periods ended September 30, 2024 and 2023 2 Interim Condensed Consolidated Statements of Comprehensive Income for the nine and three-month periods ended September 30, 2024 and 2023 3 Interim Condensed Consolidated Statements of Equity for the nine and three-month periods ended September 30, 2024 and 2023 4 Interim Condensed Consolidated Statements of Cash Flows for the nine-month periods ended September 30, 2024 and 2023 5 Notes to Interim Condensed Consolidated Financial Statements (unaudited) 7

— MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2 — MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 44

— QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3 — QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 68

— CONTROLS AND PROCEDURES

ITEM 4 — CONTROLS AND PROCEDURES 71

OTHER INFORMATION

PART II. OTHER INFORMATION 71

— LEGAL PROCEEDINGS

ITEM 1 — LEGAL PROCEEDINGS 71

— RISK FACTORS

ITEM 1A — RISK FACTORS 71

— UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2 — UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 72

— OTHER INFORMATION

ITEM 5 — OTHER INFORMATION 72

— EXHIBITS

ITEM 6 — EXHIBITS 72 INDEX TO EXHIBITS 73

SIGNATURES

SIGNATURES 74 Table of Contents MercadoLibre, Inc. - Interim Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (In millions of U.S. dollars, except par value) (Unaudited) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 2,162 $ 2,556 Restricted cash and cash equivalents 1,316 1,292 Short-term investments 4,511 3,480 Accounts receivable, net 216 156 Credit card receivables and other means of payments, net 4,585 3,632 Loans receivable, net of allowances of $ 1,565 and $ 1,042 4,248 2,629 Inventories 322 238 Customer crypto-assets safeguarding assets 81 34 Other assets 383 277 Total current assets 17,824 14,294 Non-current assets: Long-term investments 1,226 162 Loans receivable, net of allowances of $ 47 and $ 42 156 65 Property and equipment, net 1,283 1,250 Operating lease right-of-use assets 968 899 Goodwill 149 163 Intangible assets, net 12 11 Intangible assets at fair value 34 24 Deferred tax assets 780 710 Other assets 191 68 Total non-current assets 4,799 3,352 Total assets $ 22,623 $ 17,646 Liabilities Current liabilities: Accounts payable and accrued expenses $ 2,940 $ 2,117 Funds payable to customers 5,854 4,475 Amounts payable due to credit and debit card transactions 1,681 1,072 Salaries and social security payable 665 545 Taxes payable 426 477 Loans payable and other financial liabilities 2,250 2,292 Operating lease liabilities 201 166 Customer crypto-assets safeguarding liabilities 81 34 Other liabilities 215 119 Total current liabilities 14,313 11,297 Non-current liabilities: Amounts payable due to credit and debit card transactions 35 20 Loans payable and other financial liabilities 3,103 2,203 Operating lease liabilities 770 672 Deferred tax liabilities 193 183 Other liabilities 207 200 Total non-current liabilities 4,308 3,278 Total liabilities $ 18,621 $ 14,575 Commitments and contingencies (Note 11) Equity Common stock,

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View this 10-Q filing on SEC EDGAR