Want to see MELI full AI Analyst Report?
Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.Operating expenses show a clear strategic reallocation: sales & marketing and product/tech are being ramped aggressively to drive market share, advertising and fintech scale, while provisions for doubtful accounts have surged with rapid credit‑card issuance — reflecting deliberate growth‑oriented choices management said will compress margins ~5–6 percentage points near‑term. That mix explains the strong top‑line and fintech momentum but increases short‑term profitability and credit‑risk sensitivity (Argentina and early delinquencies flagged). Expect continued revenue and TPV scale, but constrained operating leverage until new credit cohorts mature.
Date | Sales and Marketing | General and Administrative | Product and Technology Development | Provision for Doubtful Accounts |
|---|---|---|---|---|
Jun 30, 2026 | $1.13B | $340.00M | $729.00M | $1.28B |
Mar 31, 2026 | $982.00M | $326.00M | $699.00M | $1.24B |
Dec 31, 2025 | $1.04B | $292.00M | $584.00M | $983.00M |
Sep 30, 2025 | $833.00M | $270.00M | $567.00M | $815.00M |
Jun 30, 2025 | $751.00M | $261.00M | $567.00M | $690.00M |
Mar 31, 2025 | $599.00M | $255.00M | $551.00M | $603.00M |
Dec 31, 2024 | $636.00M | $254.00M | $512.00M | $527.00M |
Sep 30, 2024 | $566.00M | $305.00M | $504.00M | $507.00M |
Jun 30, 2024 | $383.00M | $180.00M | $381.00M | $252.00M |
Mar 31, 2024 | $479.00M | $186.00M | $458.00M | $374.00M |