Q2 2026 Earnings

Gross merchandise volume

$21.93B

Other data The following table includes eight key performance indicators, which are calculated as defined in the footnotes to the table. We continuously assess the adequacy of our key performance indicators based on the growth and ever changing nature of our business. Each of these indicators provides a different measure of the level of activity on our ecosystem, which we use to monitor the performance of the business. Six Months Ended June 30, | | | Three Months Ended June 30, 2026 | | | 2025 | | | 2026 | | | 2025 (In millions, except percentages) (1) (In millions, except percentages) (1) Fintech monthly active users (2) 88 | | | | 68 | | | | 88 | | | | 68 Unique active buyers (3) 117 | | | | 90 | | | | 89 | | | | 71 Gross merchandise volume (4) $ | | 40,877 | | | | $ | | 28,588 | | | | $ | | 21,926 | | | | $ | | 15,258 Number of items sold (5) 1,517 | | | | 1,042 | | | | 795 | | | | 550 Total payment volume (6) $ | | 188,138 | | | | $ | | 122,905 | | | | $ | | 100,952 | | | | $ | | 64,602 Acquiring total payments volume (7) $ | | 120,072 | | | | $ | | 84,682 | | | | $ | | 64,079 | | | | $ | | 44,365 Total payment transactions (8) 9,821 | | | | 6,951 | | | | 5,181 | | | | 3,607 NIMAL (9) 19.4 | | % | | | 22.8 | | % | | | 20.7 | | % | | | 23.0 | | % Capital expenditures | | $ | | 712 | | | | $ | | 543 | | | | $ | | 441 | | | | $ | | 287 Depreciation and amortization | | $ | | 538 | | | | $ | | 371 | | | | $ | | 292 | | | | $ | | 199 (1) Growth calculations based on this table may not total due to rounding. (2) Fintech monthly active users is defined as Fintech payers and/or collectors that, during the last month of the reporting period, performed at least one of the following actions during such month: 1) made a debit or credit card payment, 2) made a QR code payment, 3) made an off-platform online payment using our checkout or link of payment solutions while logged in to our Mercado Pago fintech platform, 4) made an investment or employed any of our savings solutions, 5) has an active insurance policy, 6) has an outstanding loan up to date or non performing below 90 days, or 7) received the payment from a sale or transaction either on or off marketplace. (3) Unique active buyers is defined as users that have performed at least one purchase on the Mercado Libre Marketplace during the reported period. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (4) Total U.S. dollar sum of all transactions completed through the Mercado Libre Marketplace, excluding Classifieds transactions. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (5) Number of items that were sold/purchased through the Mercado Libre Marketplace, excluding Classifieds items. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (6) Total U.S. dollar sum of all transactions paid for using Mercado Pago, including marketplace and non-marketplace transactions, excluding peer-to-peer transactions. (7) Total U.S. dollar sum of all transactions settled using our Mercado Pago and Mercado Pago's payment processing and settling services in marketplace and non-marketplace transactions and consist of the following transactions volume: 1) point of sale payment volume, 2) commerce payment volume through our Mercado Libre Marketplace, 3) online payment volume through our checkout or link payment solution for merchants, and 4) QR code payment volume. (8) Number of all transactions paid for using Mercado Pago, excluding peer-to-peer transactions. (9 ) Net interest margins after losses (“NIMAL”) represents the annualized ratio between the total credits revenues (excluding the results of sale of loans receivables) less funding costs and provision for doubtful accounts for the period (excluding the results of sale of loans receivables) and total average gross loans receivable for the period. Management uses NIMAL to monitor how effective our pricing is and managing the credit products relative to their risk and setting targets. Accordingly, Management is of the opinion that NIMAL provides useful information to investors and others related to our risk appetite through the different periods and shows how we effectively prices risk.

Number of items sold

795.0M

Other data The following table includes eight key performance indicators, which are calculated as defined in the footnotes to the table. We continuously assess the adequacy of our key performance indicators based on the growth and ever changing nature of our business. Each of these indicators provides a different measure of the level of activity on our ecosystem, which we use to monitor the performance of the business. Six Months Ended June 30, | | | Three Months Ended June 30, 2026 | | | 2025 | | | 2026 | | | 2025 (In millions, except percentages) (1) (In millions, except percentages) (1) Fintech monthly active users (2) 88 | | | | 68 | | | | 88 | | | | 68 Unique active buyers (3) 117 | | | | 90 | | | | 89 | | | | 71 Gross merchandise volume (4) $ | | 40,877 | | | | $ | | 28,588 | | | | $ | | 21,926 | | | | $ | | 15,258 Number of items sold (5) 1,517 | | | | 1,042 | | | | 795 | | | | 550 Total payment volume (6) $ | | 188,138 | | | | $ | | 122,905 | | | | $ | | 100,952 | | | | $ | | 64,602 Acquiring total payments volume (7) $ | | 120,072 | | | | $ | | 84,682 | | | | $ | | 64,079 | | | | $ | | 44,365 Total payment transactions (8) 9,821 | | | | 6,951 | | | | 5,181 | | | | 3,607 NIMAL (9) 19.4 | | % | | | 22.8 | | % | | | 20.7 | | % | | | 23.0 | | % Capital expenditures | | $ | | 712 | | | | $ | | 543 | | | | $ | | 441 | | | | $ | | 287 Depreciation and amortization | | $ | | 538 | | | | $ | | 371 | | | | $ | | 292 | | | | $ | | 199 (1) Growth calculations based on this table may not total due to rounding. (2) Fintech monthly active users is defined as Fintech payers and/or collectors that, during the last month of the reporting period, performed at least one of the following actions during such month: 1) made a debit or credit card payment, 2) made a QR code payment, 3) made an off-platform online payment using our checkout or link of payment solutions while logged in to our Mercado Pago fintech platform, 4) made an investment or employed any of our savings solutions, 5) has an active insurance policy, 6) has an outstanding loan up to date or non performing below 90 days, or 7) received the payment from a sale or transaction either on or off marketplace. (3) Unique active buyers is defined as users that have performed at least one purchase on the Mercado Libre Marketplace during the reported period. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (4) Total U.S. dollar sum of all transactions completed through the Mercado Libre Marketplace, excluding Classifieds transactions. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (5) Number of items that were sold/purchased through the Mercado Libre Marketplace, excluding Classifieds items. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (6) Total U.S. dollar sum of all transactions paid for using Mercado Pago, including marketplace and non-marketplace transactions, excluding peer-to-peer transactions. (7) Total U.S. dollar sum of all transactions settled using our Mercado Pago and Mercado Pago's payment processing and settling services in marketplace and non-marketplace transactions and consist of the following transactions volume: 1) point of sale payment volume, 2) commerce payment volume through our Mercado Libre Marketplace, 3) online payment volume through our checkout or link payment solution for merchants, and 4) QR code payment volume. (8) Number of all transactions paid for using Mercado Pago, excluding peer-to-peer transactions. (9 ) Net interest margins after losses (“NIMAL”) represents the annualized ratio between the total credits revenues (excluding the results of sale of loans receivables) less funding costs and provision for doubtful accounts for the period (excluding the results of sale of loans receivables) and total average gross loans receivable for the period. Management uses NIMAL to monitor how effective our pricing is and managing the credit products relative to their risk and setting targets. Accordingly, Management is of the opinion that NIMAL provides useful information to investors and others related to our risk appetite through the different periods and shows how we effectively prices risk.

Credit originations year-over-year growth

83.0%

For the six and three-month periods ended June 30, 2026, as compared to the same periods in 2025, the charge related to the provision for doubtful accounts increased $1,227 million and $586 million, respectively, mainly due to the increase in originations growing at 82% and 83%, respectively (mostly related to the credit cards and consumer).

Net interest margin after losses

20.7%

Other data The following table includes eight key performance indicators, which are calculated as defined in the footnotes to the table. We continuously assess the adequacy of our key performance indicators based on the growth and ever changing nature of our business. Each of these indicators provides a different measure of the level of activity on our ecosystem, which we use to monitor the performance of the business. Six Months Ended June 30, | | | Three Months Ended June 30, 2026 | | | 2025 | | | 2026 | | | 2025 (In millions, except percentages) (1) (In millions, except percentages) (1) Fintech monthly active users (2) 88 | | | | 68 | | | | 88 | | | | 68 Unique active buyers (3) 117 | | | | 90 | | | | 89 | | | | 71 Gross merchandise volume (4) $ | | 40,877 | | | | $ | | 28,588 | | | | $ | | 21,926 | | | | $ | | 15,258 Number of items sold (5) 1,517 | | | | 1,042 | | | | 795 | | | | 550 Total payment volume (6) $ | | 188,138 | | | | $ | | 122,905 | | | | $ | | 100,952 | | | | $ | | 64,602 Acquiring total payments volume (7) $ | | 120,072 | | | | $ | | 84,682 | | | | $ | | 64,079 | | | | $ | | 44,365 Total payment transactions (8) 9,821 | | | | 6,951 | | | | 5,181 | | | | 3,607 NIMAL (9) 19.4 | | % | | | 22.8 | | % | | | 20.7 | | % | | | 23.0 | | % Capital expenditures | | $ | | 712 | | | | $ | | 543 | | | | $ | | 441 | | | | $ | | 287 Depreciation and amortization | | $ | | 538 | | | | $ | | 371 | | | | $ | | 292 | | | | $ | | 199 (1) Growth calculations based on this table may not total due to rounding. (2) Fintech monthly active users is defined as Fintech payers and/or collectors that, during the last month of the reporting period, performed at least one of the following actions during such month: 1) made a debit or credit card payment, 2) made a QR code payment, 3) made an off-platform online payment using our checkout or link of payment solutions while logged in to our Mercado Pago fintech platform, 4) made an investment or employed any of our savings solutions, 5) has an active insurance policy, 6) has an outstanding loan up to date or non performing below 90 days, or 7) received the payment from a sale or transaction either on or off marketplace. (3) Unique active buyers is defined as users that have performed at least one purchase on the Mercado Libre Marketplace during the reported period. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (4) Total U.S. dollar sum of all transactions completed through the Mercado Libre Marketplace, excluding Classifieds transactions. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (5) Number of items that were sold/purchased through the Mercado Libre Marketplace, excluding Classifieds items. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (6) Total U.S. dollar sum of all transactions paid for using Mercado Pago, including marketplace and non-marketplace transactions, excluding peer-to-peer transactions. (7) Total U.S. dollar sum of all transactions settled using our Mercado Pago and Mercado Pago's payment processing and settling services in marketplace and non-marketplace transactions and consist of the following transactions volume: 1) point of sale payment volume, 2) commerce payment volume through our Mercado Libre Marketplace, 3) online payment volume through our checkout or link payment solution for merchants, and 4) QR code payment volume. (8) Number of all transactions paid for using Mercado Pago, excluding peer-to-peer transactions. (9 ) Net interest margins after losses (“NIMAL”) represents the annualized ratio between the total credits revenues (excluding the results of sale of loans receivables) less funding costs and provision for doubtful accounts for the period (excluding the results of sale of loans receivables) and total average gross loans receivable for the period. Management uses NIMAL to monitor how effective our pricing is and managing the credit products relative to their risk and setting targets. Accordingly, Management is of the opinion that NIMAL provides useful information to investors and others related to our risk appetite through the different periods and shows how we effectively prices risk.

Renegotiations as a share of loans receivable

1.5%

As of June 30, 2026 and December 31, 2025, renegotiations represented 1.5 % and 1.6 % of the loans receivable portfolio, respectively.

Total payment transactions

5.18B

Other data The following table includes eight key performance indicators, which are calculated as defined in the footnotes to the table. We continuously assess the adequacy of our key performance indicators based on the growth and ever changing nature of our business. Each of these indicators provides a different measure of the level of activity on our ecosystem, which we use to monitor the performance of the business. Six Months Ended June 30, | | | Three Months Ended June 30, 2026 | | | 2025 | | | 2026 | | | 2025 (In millions, except percentages) (1) (In millions, except percentages) (1) Fintech monthly active users (2) 88 | | | | 68 | | | | 88 | | | | 68 Unique active buyers (3) 117 | | | | 90 | | | | 89 | | | | 71 Gross merchandise volume (4) $ | | 40,877 | | | | $ | | 28,588 | | | | $ | | 21,926 | | | | $ | | 15,258 Number of items sold (5) 1,517 | | | | 1,042 | | | | 795 | | | | 550 Total payment volume (6) $ | | 188,138 | | | | $ | | 122,905 | | | | $ | | 100,952 | | | | $ | | 64,602 Acquiring total payments volume (7) $ | | 120,072 | | | | $ | | 84,682 | | | | $ | | 64,079 | | | | $ | | 44,365 Total payment transactions (8) 9,821 | | | | 6,951 | | | | 5,181 | | | | 3,607 NIMAL (9) 19.4 | | % | | | 22.8 | | % | | | 20.7 | | % | | | 23.0 | | % Capital expenditures | | $ | | 712 | | | | $ | | 543 | | | | $ | | 441 | | | | $ | | 287 Depreciation and amortization | | $ | | 538 | | | | $ | | 371 | | | | $ | | 292 | | | | $ | | 199 (1) Growth calculations based on this table may not total due to rounding. (2) Fintech monthly active users is defined as Fintech payers and/or collectors that, during the last month of the reporting period, performed at least one of the following actions during such month: 1) made a debit or credit card payment, 2) made a QR code payment, 3) made an off-platform online payment using our checkout or link of payment solutions while logged in to our Mercado Pago fintech platform, 4) made an investment or employed any of our savings solutions, 5) has an active insurance policy, 6) has an outstanding loan up to date or non performing below 90 days, or 7) received the payment from a sale or transaction either on or off marketplace. (3) Unique active buyers is defined as users that have performed at least one purchase on the Mercado Libre Marketplace during the reported period. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (4) Total U.S. dollar sum of all transactions completed through the Mercado Libre Marketplace, excluding Classifieds transactions. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (5) Number of items that were sold/purchased through the Mercado Libre Marketplace, excluding Classifieds items. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (6) Total U.S. dollar sum of all transactions paid for using Mercado Pago, including marketplace and non-marketplace transactions, excluding peer-to-peer transactions. (7) Total U.S. dollar sum of all transactions settled using our Mercado Pago and Mercado Pago's payment processing and settling services in marketplace and non-marketplace transactions and consist of the following transactions volume: 1) point of sale payment volume, 2) commerce payment volume through our Mercado Libre Marketplace, 3) online payment volume through our checkout or link payment solution for merchants, and 4) QR code payment volume. (8) Number of all transactions paid for using Mercado Pago, excluding peer-to-peer transactions. (9 ) Net interest margins after losses (“NIMAL”) represents the annualized ratio between the total credits revenues (excluding the results of sale of loans receivables) less funding costs and provision for doubtful accounts for the period (excluding the results of sale of loans receivables) and total average gross loans receivable for the period. Management uses NIMAL to monitor how effective our pricing is and managing the credit products relative to their risk and setting targets. Accordingly, Management is of the opinion that NIMAL provides useful information to investors and others related to our risk appetite through the different periods and shows how we effectively prices risk.

Acquiring total payments volume

$64.08B

Other data The following table includes eight key performance indicators, which are calculated as defined in the footnotes to the table. We continuously assess the adequacy of our key performance indicators based on the growth and ever changing nature of our business. Each of these indicators provides a different measure of the level of activity on our ecosystem, which we use to monitor the performance of the business. Six Months Ended June 30, | | | Three Months Ended June 30, 2026 | | | 2025 | | | 2026 | | | 2025 (In millions, except percentages) (1) (In millions, except percentages) (1) Fintech monthly active users (2) 88 | | | | 68 | | | | 88 | | | | 68 Unique active buyers (3) 117 | | | | 90 | | | | 89 | | | | 71 Gross merchandise volume (4) $ | | 40,877 | | | | $ | | 28,588 | | | | $ | | 21,926 | | | | $ | | 15,258 Number of items sold (5) 1,517 | | | | 1,042 | | | | 795 | | | | 550 Total payment volume (6) $ | | 188,138 | | | | $ | | 122,905 | | | | $ | | 100,952 | | | | $ | | 64,602 Acquiring total payments volume (7) $ | | 120,072 | | | | $ | | 84,682 | | | | $ | | 64,079 | | | | $ | | 44,365 Total payment transactions (8) 9,821 | | | | 6,951 | | | | 5,181 | | | | 3,607 NIMAL (9) 19.4 | | % | | | 22.8 | | % | | | 20.7 | | % | | | 23.0 | | % Capital expenditures | | $ | | 712 | | | | $ | | 543 | | | | $ | | 441 | | | | $ | | 287 Depreciation and amortization | | $ | | 538 | | | | $ | | 371 | | | | $ | | 292 | | | | $ | | 199 (1) Growth calculations based on this table may not total due to rounding. (2) Fintech monthly active users is defined as Fintech payers and/or collectors that, during the last month of the reporting period, performed at least one of the following actions during such month: 1) made a debit or credit card payment, 2) made a QR code payment, 3) made an off-platform online payment using our checkout or link of payment solutions while logged in to our Mercado Pago fintech platform, 4) made an investment or employed any of our savings solutions, 5) has an active insurance policy, 6) has an outstanding loan up to date or non performing below 90 days, or 7) received the payment from a sale or transaction either on or off marketplace. (3) Unique active buyers is defined as users that have performed at least one purchase on the Mercado Libre Marketplace during the reported period. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (4) Total U.S. dollar sum of all transactions completed through the Mercado Libre Marketplace, excluding Classifieds transactions. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (5) Number of items that were sold/purchased through the Mercado Libre Marketplace, excluding Classifieds items. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (6) Total U.S. dollar sum of all transactions paid for using Mercado Pago, including marketplace and non-marketplace transactions, excluding peer-to-peer transactions. (7) Total U.S. dollar sum of all transactions settled using our Mercado Pago and Mercado Pago's payment processing and settling services in marketplace and non-marketplace transactions and consist of the following transactions volume: 1) point of sale payment volume, 2) commerce payment volume through our Mercado Libre Marketplace, 3) online payment volume through our checkout or link payment solution for merchants, and 4) QR code payment volume. (8) Number of all transactions paid for using Mercado Pago, excluding peer-to-peer transactions. (9 ) Net interest margins after losses (“NIMAL”) represents the annualized ratio between the total credits revenues (excluding the results of sale of loans receivables) less funding costs and provision for doubtful accounts for the period (excluding the results of sale of loans receivables) and total average gross loans receivable for the period. Management uses NIMAL to monitor how effective our pricing is and managing the credit products relative to their risk and setting targets. Accordingly, Management is of the opinion that NIMAL provides useful information to investors and others related to our risk appetite through the different periods and shows how we effectively prices risk.

Total payment volume

$100.95B

Other data The following table includes eight key performance indicators, which are calculated as defined in the footnotes to the table. We continuously assess the adequacy of our key performance indicators based on the growth and ever changing nature of our business. Each of these indicators provides a different measure of the level of activity on our ecosystem, which we use to monitor the performance of the business. Six Months Ended June 30, | | | Three Months Ended June 30, 2026 | | | 2025 | | | 2026 | | | 2025 (In millions, except percentages) (1) (In millions, except percentages) (1) Fintech monthly active users (2) 88 | | | | 68 | | | | 88 | | | | 68 Unique active buyers (3) 117 | | | | 90 | | | | 89 | | | | 71 Gross merchandise volume (4) $ | | 40,877 | | | | $ | | 28,588 | | | | $ | | 21,926 | | | | $ | | 15,258 Number of items sold (5) 1,517 | | | | 1,042 | | | | 795 | | | | 550 Total payment volume (6) $ | | 188,138 | | | | $ | | 122,905 | | | | $ | | 100,952 | | | | $ | | 64,602 Acquiring total payments volume (7) $ | | 120,072 | | | | $ | | 84,682 | | | | $ | | 64,079 | | | | $ | | 44,365 Total payment transactions (8) 9,821 | | | | 6,951 | | | | 5,181 | | | | 3,607 NIMAL (9) 19.4 | | % | | | 22.8 | | % | | | 20.7 | | % | | | 23.0 | | % Capital expenditures | | $ | | 712 | | | | $ | | 543 | | | | $ | | 441 | | | | $ | | 287 Depreciation and amortization | | $ | | 538 | | | | $ | | 371 | | | | $ | | 292 | | | | $ | | 199 (1) Growth calculations based on this table may not total due to rounding. (2) Fintech monthly active users is defined as Fintech payers and/or collectors that, during the last month of the reporting period, performed at least one of the following actions during such month: 1) made a debit or credit card payment, 2) made a QR code payment, 3) made an off-platform online payment using our checkout or link of payment solutions while logged in to our Mercado Pago fintech platform, 4) made an investment or employed any of our savings solutions, 5) has an active insurance policy, 6) has an outstanding loan up to date or non performing below 90 days, or 7) received the payment from a sale or transaction either on or off marketplace. (3) Unique active buyers is defined as users that have performed at least one purchase on the Mercado Libre Marketplace during the reported period. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (4) Total U.S. dollar sum of all transactions completed through the Mercado Libre Marketplace, excluding Classifieds transactions. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (5) Number of items that were sold/purchased through the Mercado Libre Marketplace, excluding Classifieds items. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (6) Total U.S. dollar sum of all transactions paid for using Mercado Pago, including marketplace and non-marketplace transactions, excluding peer-to-peer transactions. (7) Total U.S. dollar sum of all transactions settled using our Mercado Pago and Mercado Pago's payment processing and settling services in marketplace and non-marketplace transactions and consist of the following transactions volume: 1) point of sale payment volume, 2) commerce payment volume through our Mercado Libre Marketplace, 3) online payment volume through our checkout or link payment solution for merchants, and 4) QR code payment volume. (8) Number of all transactions paid for using Mercado Pago, excluding peer-to-peer transactions. (9 ) Net interest margins after losses (“NIMAL”) represents the annualized ratio between the total credits revenues (excluding the results of sale of loans receivables) less funding costs and provision for doubtful accounts for the period (excluding the results of sale of loans receivables) and total average gross loans receivable for the period. Management uses NIMAL to monitor how effective our pricing is and managing the credit products relative to their risk and setting targets. Accordingly, Management is of the opinion that NIMAL provides useful information to investors and others related to our risk appetite through the different periods and shows how we effectively prices risk.

Fintech monthly active users

88.0M

Other data The following table includes eight key performance indicators, which are calculated as defined in the footnotes to the table. We continuously assess the adequacy of our key performance indicators based on the growth and ever changing nature of our business. Each of these indicators provides a different measure of the level of activity on our ecosystem, which we use to monitor the performance of the business. Six Months Ended June 30, | | | Three Months Ended June 30, 2026 | | | 2025 | | | 2026 | | | 2025 (In millions, except percentages) (1) (In millions, except percentages) (1) Fintech monthly active users (2) 88 | | | | 68 | | | | 88 | | | | 68 Unique active buyers (3) 117 | | | | 90 | | | | 89 | | | | 71 Gross merchandise volume (4) $ | | 40,877 | | | | $ | | 28,588 | | | | $ | | 21,926 | | | | $ | | 15,258 Number of items sold (5) 1,517 | | | | 1,042 | | | | 795 | | | | 550 Total payment volume (6) $ | | 188,138 | | | | $ | | 122,905 | | | | $ | | 100,952 | | | | $ | | 64,602 Acquiring total payments volume (7) $ | | 120,072 | | | | $ | | 84,682 | | | | $ | | 64,079 | | | | $ | | 44,365 Total payment transactions (8) 9,821 | | | | 6,951 | | | | 5,181 | | | | 3,607 NIMAL (9) 19.4 | | % | | | 22.8 | | % | | | 20.7 | | % | | | 23.0 | | % Capital expenditures | | $ | | 712 | | | | $ | | 543 | | | | $ | | 441 | | | | $ | | 287 Depreciation and amortization | | $ | | 538 | | | | $ | | 371 | | | | $ | | 292 | | | | $ | | 199 (1) Growth calculations based on this table may not total due to rounding. (2) Fintech monthly active users is defined as Fintech payers and/or collectors that, during the last month of the reporting period, performed at least one of the following actions during such month: 1) made a debit or credit card payment, 2) made a QR code payment, 3) made an off-platform online payment using our checkout or link of payment solutions while logged in to our Mercado Pago fintech platform, 4) made an investment or employed any of our savings solutions, 5) has an active insurance policy, 6) has an outstanding loan up to date or non performing below 90 days, or 7) received the payment from a sale or transaction either on or off marketplace. (3) Unique active buyers is defined as users that have performed at least one purchase on the Mercado Libre Marketplace during the reported period. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (4) Total U.S. dollar sum of all transactions completed through the Mercado Libre Marketplace, excluding Classifieds transactions. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (5) Number of items that were sold/purchased through the Mercado Libre Marketplace, excluding Classifieds items. From the second quarter of 2025 onwards, we have included food delivery transactions in the current indicator. (6) Total U.S. dollar sum of all transactions paid for using Mercado Pago, including marketplace and non-marketplace transactions, excluding peer-to-peer transactions. (7) Total U.S. dollar sum of all transactions settled using our Mercado Pago and Mercado Pago's payment processing and settling services in marketplace and non-marketplace transactions and consist of the following transactions volume: 1) point of sale payment volume, 2) commerce payment volume through our Mercado Libre Marketplace, 3) online payment volume through our checkout or link payment solution for merchants, and 4) QR code payment volume. (8) Number of all transactions paid for using Mercado Pago, excluding peer-to-peer transactions. (9 ) Net interest margins after losses (“NIMAL”) represents the annualized ratio between the total credits revenues (excluding the results of sale of loans receivables) less funding costs and provision for doubtful accounts for the period (excluding the results of sale of loans receivables) and total average gross loans receivable for the period. Management uses NIMAL to monitor how effective our pricing is and managing the credit products relative to their risk and setting targets. Accordingly, Management is of the opinion that NIMAL provides useful information to investors and others related to our risk appetite through the different periods and shows how we effectively prices risk.