MercadoLibre, Inc. (MELI) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and welcome to the MercadoLibre earnings conference call for the quarter ended March 31st, 2025. Thank you for joining us. I'm Richard Cathcart, MercadoLibre's Investor Relations Officer. Today, we will share our quarterly highlights on video, after which we will begin our live Q&A session with our management team. Before we go on to discuss our results for the first quarter of 2025, I remind you that management may make or refer to, and this presentation may contain, forward-looking statements and non-GAAP measures. So please refer to the disclaimer on screen, which will also be available in our earnings materials on our investor relations website. Please note that this call is being recorded and a replay will be made available on our IR website as well. With that, let's begin with a short message from our CFO. Hello, everyone. We are excited to kick off 2025 with another great quarter at MercadoLibre as we continue to deliver strong growth across both e-commerce and fintech. In Q1, we maintained the rapid pace of net revenue growth achieved in 2024 while making solid progress on all of our strategic initiatives. This momentum is fueled by continued investments and improvements in the valuable position for our users. In commerce, we continue to deliver strong growth outpacing all of our major markets. Brand preference metrics for our marketplace reached all-time highs in Brazil, Mexico, Argentina, and Chile during the quarter. This is clear evidence that our investments are working and that we're further consolidating our position as a destination of choice for online purchasing in Latin America. In fintech services, monthly active users continue to grow at startup rates of more than 30% year-on-year, reaching a total of 64 million. Our strategy of ...