Mercado Libre Delivers Record 2025 Sales, 45% 4Q25 Growth

Mercado Libre reported record financial results for fiscal year 2025, with annual net revenue rising 39% to US$28.9 billion (MX$496 billion). The Latin American e-commerce and fintech leader closed the fourth quarter with US$8.8 billion in revenue, a 45% year-over-year increase, driven by strategic investments in logistics, user experience and financial services.

The company gained market share across its core markets — Brazil, Mexico and Argentina — while achieving record Net Promoter Scores (NPS), reflecting strong consumer confidence in both its marketplace platform and the Mercado Pago digital banking ecosystem.

“We ended 2025 with exceptional momentum, gaining market share in our key markets while driving extraordinary growth in Commerce and Fintech,” said Martín de los Santos, CFO, Mercado Libre. He added that record NPS levels in Brazil, Mexico and Argentina provide a strong foundation for future growth, supported by a “bold but disciplined” investment strategy aimed at reinforcing competitive advantages and expanding financial inclusion.

E-commerce Performance and Logistics Expansion

Mercado Libre’s commerce division generated US$16.3 billion in net revenue in 2025, a 34% annual increase. In 4Q25 alone, Gross Merchandise Volume (GMV) reached US$19.9 billion, up 37% year over year in US dollars. Unique quarterly buyers surpassed 80 million for the first time, adding 16 million users compared to the previous year.

Operational improvements supported this growth:

• Logistics efficiency: Approximately 75% of shipments were delivered within 48 hours through the company’s fulfillment network. In December 2025, Mercado Libre inaugurated its first fulfillment center in China to strengthen cross-border trade.
   

• Regional performance: In Mexico, items sold rose 45% year over year, while GMV in constant currency increased 35%. Brazil recorded its highest daily sales volume in history during Black Friday.
   

• Advertising growth: Mercado Ads expanded 67% in constant currency in the fourth quarter, supported by automated campaign tools that scaled its advertising platform.

Fintech Growth and Credit Expansion

Mercado Pago reported US$12.6 billion in net revenue for 2025, a 46% increase from the previous year. Monthly active users reached 78 million, while Total Payment Volume (TPV) totaled US$278 billion for the year.

The company also expanded its credit portfolio significantly. The total credit portfolio rose 90% year over year to US$12.5 billion. Despite this rapid growth, the 15-to-90-day non-performing loan (NPL) ratio declined to a historic low of 4.4%.

Artificial intelligence has become a structural component of operations. In October 2025, Mercado Libre launched an AI Assistant that handled more than 9 million conversations in 4Q25, resolving 87% of inquiries without human intervention. This operational efficiency supported the issuance of nearly 3 million new credit cards during the quarter.

Leadership Transition and 2026 Strategy

The strong 2025 performance coincided with a planned leadership transition. Ariel Szarfsztejn, formerly President of Commerce, assumed the role of CEO on Jan. 1, 2026, following the transition announced in May 2025.

Management reiterated its intention to maintain disciplined investment, focusing on reinforcing e-commerce leadership and expanding financial inclusion across Latin America.

Expansion of Operations in Mexico

In Mexico, Mercado Libre continued expanding its logistics footprint. The company inaugurated a distribution center (CEDIS) in Hermosillo, Sonora, as part of a US$5 million annual investment plan in the state. The 10,000-square-meter facility is the company’s 14th distribution center nationwide and is designed to improve delivery times across northwestern Mexico.

With the Hermosillo center, Mercado Libre introduced same-day delivery services in Hermosillo, Nogales and Ciudad Obregón. The expansion is expected to generate approximately 100 direct jobs.

Alejandro Caballero, Senior Director of Marketplace, Mercado Libre México, said the facility strengthens the delivery network and supports the digitalization of small and medium-sized enterprises (SMEs) in the region.

Earlier in the year, Mercado Libre also inaugurated its XEM3 logistics center in Cuautitlan Izcalli, developed in partnership with industrial real estate firm Vesta. The 80,000-square-meter site represents a joint investment of US$140 million and is the company’s largest cross-dock facility in Latin America.

The XEM3 center currently processes approximately 600,000 packages per day, with automation upgrades planned for 2026 to increase capacity to nearly one million packages daily. Unlike traditional fulfillment centers, the cross-docking model focuses on rapid sorting and dispatch rather than long-term storage, enabling faster delivery cycles.

According to José Ignacio Arias, Senior Director of Transportation, Mercado Libre México, the facility allows for accelerated package processing, which is critical for reducing delivery times and improving operational efficiency.

The integration of XEM3 supports same-day delivery services in more than 28 cities nationwide. The company estimates the facility will support more than 100,000 entrepreneurs and SMEs each month, primarily in the Mexico City metropolitan area and the State of Mexico.