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MercadoLibre (MELI) Q4 FY2021 earnings: revenue $2.1 billion, up 60.5% on the year

MercadoLibre, Inc. (MELI) reported revenue of $2.1 billion for Q4 FY2021, the quarter ended 31 December 2021, up 60.5% on the same quarter a year earlier. Net income was -$46 million, and diluted earnings per share $-0.92. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.

Revenue
$2.1 billion
+60.5% on the year · +14.6% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
1.1%
-1.9% a year earlier
Q1 FY2020Q4 FY2021
Net income
-$46 million
Q1 FY2020Q4 FY2021
Diluted EPS
-$0.92
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue2,1301,8581,327+14.6%+60.5%
Cost of revenue1,278n/an/a
Gross profit853n/an/a
Gross margin40.1%n/an/a
Research and development179n/an/a
Operating income24.0160-25.1-85.0%
Operating margin1.1%8.6%-1.9%
Pre-tax income-33.1n/an/a
Income tax4.0n/an/a
Net income-46.095.0-51.0
Net margin-2.2%n/an/a
Diluted EPS-$0.92$1.92-$1.02
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow701n/an/a
Capital expenditure148n/an/a
Free cash flow552n/an/a
Free cash flow margin25.9%n/an/a
Cash from investing-709n/an/a
Cash from financing2,259n/an/a
Depreciation and amortisation67.252.232.6+28.6%+106.4%
Buybacks45.9n/an/a
Diluted shares, weighted50m50m50m+0.7%+0.2%
Shares outstanding at period end50m49m50m+1.9%+1.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity1,5321231,652+1,145.5%-7.3%
Debt3,5182,7361,409+28.6%+149.6%
Operating lease liabilities372n/an/a
Finance lease liabilities35.6n/an/a
Other liabilities4,644n/an/a
Total liabilities and equity10,101n/an/a
Fixed assets807n/an/a
Goodwill148n/an/a
Intangible assets45.0n/an/a
Investments898n/an/a
Loans1,260n/an/a
Cash and equivalents2,5859871,856+161.8%+39.2%
Receivables98.2n/an/a
Inventory253n/an/a
Other assets4,007n/an/a
Total assets10,101n/an/a

Questions

What was MercadoLibre's revenue in Q4 FY2021?

MercadoLibre (MELI) reported revenue of $2.1 billion for Q4 FY2021, the quarter ended 31 December 2021, up 60.5% on the same quarter a year earlier.

How much did MercadoLibre earn in Q4 FY2021?

Net loss for Q4 FY2021 was $46 million, and the diluted loss per share $0.92.

When did MercadoLibre report Q4 FY2021 results?

MercadoLibre filed its 10-K for the quarter ended 31 December 2021 with the SEC on 23 February 2024.

Quarterly results, the last 20 quarters

Q4 FY2021 †Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022Q1 FY2023 †Q2 FY2023 †Q3 FY2023 †Q4 FY2023 †Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue2,1302,2482,5972,6903,0023,1863,5853,9274,4094,3335,0735,3126,0595,9356,7907,4098,7598,84510,16910,750
Cost of revenue1,2781,1751,3131,3421,5441,5721,7541,8322,3592,3092,7082,8733,3103,1643,6964,2004,9754,9836,0106,366
Gross profit8531,0731,2841,3481,4581,6141,8312,0952,0502,0242,3652,4392,7492,7713,0943,2093,7843,8624,1594,384
Gross margin40%48%49%50%49%51%51%53%46%47%47%46%45%47%46%43%43%44%41%41%
R&D179234262278325381368396686458460504512551567567584699729745
Operating income24.0139250296349418669785335528726557820763825724889611683676
Operating margin1%6%10%11%12%13%19%20%8%12%14%10%14%13%12%10%10%7%7%6%
Pre-tax income-33.1111163198308320472531230481668520763706716636784579606601
Tax raten/a41%24%35%47%38%44%32%28%28%21%24%16%30%27%34%29%28%23%25%
Net income-46.065.0123129165201262359165344531397639494523421559417466448
Net margin-2%3%5%5%5%6%7%9%4%8%10%7%11%8%8%6%6%5%5%4%
Diluted EPS-$0.92$1.30$2.43$2.56$3.25$3.97$5.16$7.16$3.25$6.78$10.48$7.83$12.60$9.74$10.31$8.32$11.03$8.23$9.19$8.83
Operating cash flow701-2339077241,5428591,4129411,9281,5121,8821,6002,9241,0312,9172,9595,2092,0753,6622,950
Capital expenditure14813799.010611289.0114126180146183222309272287357427271441503
Free cash flow552-3708086181,4307701,2988151,7481,3661,6991,3782,6157592,6302,6024,7821,8043,2212,447
Buybacks45.939.035.041.033.061.01461490.00.01.00.00.0n/an/a1.0n/an/an/a0.0
Shares outstanding50m50m50m50m50m50m50m50m51m51m51m51m51m51m51m51m51m51m51m51m
Filing10-K10-K10-K10-K10-K10-Q10-Q10-Q10-Q10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 23 February 2024: the filing.