MercadoLibre, Inc. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: Q4 2021 net revenue reached $2.1 billion, a year-over-year increase of 61% in USD and 74% FX-neutral. Full-year 2021 net revenue totaled $7.1 billion, up 78% YoY.
  • Profitability: Q4 EBIT was $23.3 million (1.1% margin), improving from a -1.9% margin in Q4 2020. Full-year EBIT margin improved to 6.2% from 3.2% in 2020. Gross profit margin for Q4 increased to 40% from 36.8% in Q4 2020.
  • Marketplace Metrics: Q4 gross merchandise volume (GMV) hit $8 billion (up 32% FX-neutral YoY), with a 71% two-year CAGR. FY’21 GMV totaled $28.4 billion (up 48% FX-neutral YoY). Unique buyers in Q4 reached 40.5 million and items per buyer grew 14% YoY.
  • Shipping & Logistics: Over 275 million items shipped in Q4. 90% of volume flowed through the managed logistics network, up from 77% in Q4 2020. 80% of shipments were delivered in under 48 hours, with 60% delivered same or next day.

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Operator: Ladies and gentlemen, thank you for standing by, and welcome to the MercadoLibre Q4 2021 Earnings Conference Call. Lissa Schreurs: Hello everyone, and welcome to the Mercado Libre earnings conference call for the quarter ended December 31, 2021. I am Lissa Schreurs, Investor Relations Officer for Mercado Libre. Our Chief Financial Officer, Pedro Arnt, will be leading today’s prepared remarks. Joining him on the line is Chief Executive Officer of Mercado Pago, Osvaldo Giménez, who will be available during today’s Q&A session. I remind you that management may make forward-looking statements relating to such matters as continued growth prospects for the company, industry trends, and product and technology initiatives. These statements are based on currently available information and our current assumptions, expectations, and projections about future events. While we believe that our assumptions, expectations and projections are reasonable in view of the currently available information, you are cautioned not to place undue reliance on these forward-looking statements. Our actual results may differ materially from those included in this conference call, for a variety of reasons, including those described in the forward-looking statements and risk factor sections of our upcoming Form 10-K for the year ended December 31, 2021, and any of MercadoLibre Inc.’s other applicable filings with the Securities and Exchange Commission, which are available on our investor relations w

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