MercadoLibre Inc 2025年季度报告

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 For the transition period from _________ to _________ MercadoLibre, Inc.(Exact name of Registrant as specified in its Charter)___________________________________________________________________________________________________ incorporation or organization) WTC Free ZoneDr. Luis Bonavita 1294,Of. 1733, Tower II Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. (603) For the three-month periods ended March31, 2025 and 2024(In millions of U.S. dollars)(Unaudited) MercadoLibre, Inc. (“MercadoLibre,” and together with its consolidated entities, the “Company”) was incorporated in thestate of Delaware, in the United States of America (“U.S.”), in October 1999. MercadoLibre is the largest online commerce andfintech ecosystem in Latin America. The Company’s ecosystem provides consumers and merchants with a complete portfolio of The Company enables commerce through its marketplace platform, which allows users to buy and sell in most of LatinAmerica. Through Mercado Pago, the fintech platform, MercadoLibre offers a comprehensive set of financial technology servicesto users of its e-commerce platform, and to users outside of its e-commerce platform; through Mercado Envios, MercadoLibrefacilitates the shipping of goods from the Company and sellers to buyers; through the advertising products, MercadoLibrefacilitates advertising services for large retailers and brands to promote their products and services on the web; through MercadoShops, MercadoLibre allows users to set-up, manage, and promote their own online web-stores under a subscription-based NOTE2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentationTheaccompanying unaudited interim condensed consolidated financial statements are prepared in conformity withaccounting principles generally accepted in the U.S. (“U.S. GAAP”) and include the accounts of the Company, its wholly-ownedsubsidiaries and consolidated Variable Interest Entities (“VIEs”). These unaudited interim condensed consolidated financialstatements are stated in U.S. dollars, except for where otherwise indicated. Intercompany transactions and balances have beeneliminated for consolidation purposes. Because all of the disclosures required by U.S. GAAP for annual consolidated financial statements are not included herein, Annual Report on Form 10-K for the year ended December31, 2024 filed with the Securities and Exchange Commission (“SEC”)(the “Company’s 2024 10-K”). The Company has evaluated all subsequent events through the date these unaudited interim condensedconsolidated financial statements were issued.The interim condensed consolidated statements of income,comprehensive income, equity and cash flows for the periods presented herein are not necessarily indicative of results expectedfor any future period. For a more detailed discussion of the Company’s significant accounting policies, see Note 2 to thefinancial statements in the Company’s 2024 10-K. During the three-month period ended March31, 2025, there were no material The preparation of these unaudited interim condensed consolidated financial statements in conformity with U.S. GAAP disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues andexpenses during the reporting period. Estimates are used for, but not limited to, accounting and disclosures for allowance for doubtful accounts and chargeback provisions, inventories valuation reserves, recoverability of goodwill, intangible assets withindefinite useful lives and deferred tax assets, impairment of cash and cash equivalents, short-term and long-term investments, compensation costs relating to the Company’s long term retention program, fair value of certain loans payable and otherfinancialliabilities,fair value of loans receivable,fair value of derivative instruments,income taxes,contingencies anddetermination of the incremental borrowing rate at commencement date of lease operating agreements. Actual results could TheCompany and certain financial institutions participate in a supplier finance program that enables certain of theCompany’s suppliers, at their own election, to request the payment of their invoices to the financial institutions earlier than the For further information related to Supplier Finance Programs please refer to Note 6 to the consolidated financial statements in the Company’s 2024 10-K.Revenue recognitionRevenue recognition criteria for the services provided and goods sold by the Company are described in Note 2 to the month periods ended March31, 2025 and 2024, respectively.Revenues recognized under ASC 606, Revenue from contracts with customers, amounted to $4,191million and $3,099millionfor the three-month periods ended March31, 2025 and 2024, respectively. Revenues not recognized under ASC 606 amounted to Tim