Revenue from operations increased 48% year-on-year to ₹3,712.8 crore from ₹2,503.9 crore. Earnings before interest, taxes, depreciation and amortisation (EBITDA) loss stood at ₹224.7 crore during the quarter, compared with an EBITDA loss of ₹264.4 crore in Q1 FY26.
Meesho’s Net Merchandise Value (NMV) grew 34% year-on-year to ₹11,614 crore, driven by continued user growth and higher engagement on the platform.
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Marketplace revenue from operations increased 48% year-on-year to ₹3,707 crore, supported by improved delivery conversion through lower cancellations, reduced Return-to-Origin (RTO) rates and higher platform monetisation.
The company’s contribution margin expanded to 4.6% of NMV, increasing 54 basis points sequentially, supported by logistics efficiencies and improved platform monetisation. Marketplace adjusted EBITDA improved to a loss of 1.2% of NMV.
Meesho’s annual transacting users (ATUs) increased 29% year-on-year to 274 million, while purchase frequency improved to 10.3 transactions per user annually.
The platform recorded 725 million placed orders during the quarter, up 29% year-on-year. Prepaid orders accounted for around 37% of shipped orders, contributing to lower cancellations and Return-to-Origin rates.
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Meesho said it continued investments in artificial intelligence (AI) across its platform. The company accelerated its AI-first engineering transformation by integrating AI across the software development lifecycle, resulting in more than two times productivity gains for engineers, according to the company.
AI-powered cataloguing, demand intelligence and multilingual voice agents helped annual transacting sellers increase 81% year-on-year to more than 1.04 million. The company said 45% of sellers are based in Tier 2 and beyond towns, while growth among Tier 4 sellers stood at 125% year-on-year.
Meesho Mall, the company’s branded marketplace, now includes more than 1,200 brands and grew around 93% year-on-year. The platform expanded participation across categories including beauty and personal care, baby care, health and wellness, grocery and fashion.
Content Commerce NMV increased 141% year-on-year, with active order-generating content rising to 1.7 million, supported by AI-powered creator tools.
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Meesho said its last twelve months (LTM) free cash flow improved by around 15% to a negative ₹537 crore from a negative ₹633 crore in the previous quarter.
As of June 30, 2026, Meesho had a cash balance of ₹6,521 crore, providing flexibility to invest in growth opportunities while maintaining capital allocation discipline.
Shares of Meesho Ltd ended at ₹188.40, down by ₹1.35, or 0.71%, on the BSE.
