METAMeta Platforms

Communication · Internet & Software Services · Nasdaq

Our mission is to build the future of human connection and the technology that makes it possible. 10-K, Item 1

Employees: 78,865
Headquarters: Menlo Park, CA
CEO: Mark Zuckerberg
Next results: around Jan 27, 2027

Key numbers

Latest fiscal year, with ten years behind each

RevenueFY2016–25 $201.0B+22.2% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $60.5B−3.1% FY2024: $62.4B 10-K FY2025 · XBRL Free cash flowFY2016–25 $46.1B−14.7% FY2024: $54.1B 10-K FY2025 · XBRL Operating marginFY2016–25 41.4%−0.7 pts 45.0% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Jan 29, 2026 against Jan 30, 2025

Area	What changed	Source
Risk factors	7 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Critical audit matters changed	New this year: Consolidation accounting for a variable interest entity (“As described in Note 5 to the consolidated financial statements, the Company entered into an arrangement (the “Venture”) to co-develop a data center campus. The Company determined whether it holds a variable interest in the Venture, whether the entity in which the Company has a variable interest is ”). No longer listed: Table of Contents; Table of Contents. Same as last year: Loss Contingencies; Uncertain Tax Positions	10-K · XBRL
Accounting checks	9 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	7 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Jan 29, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-01-30. Quoted as filed.

Our ability to support these investments is dependent on generating sufficient profits from other areas of our business. From time to time we may also seek to raise additional capital through debt, equity, or other financing arrangements to support our business operations, strategic initiatives, or other corporate purposes. Such…
10-K, Item 1A

All 7 new paragraphs →

Accounting checks

latest 10-K

9 of 10 clear 1 worth a look. Checks, not verdicts.

!
Critical audit matters changedNew this year: Consolidation accounting for a variable interest entity (“As described in Note 5 to the consolidated financial statements, the Company entered into an arrangement (the “Venture”) to co-develop a data center campus. The Company determined whether it holds a variable interest in the Venture, whether the entity in which the Company has a variable interest is ”). No longer listed: Table of Contents; Table of Contents. Same as last year: Loss Contingencies; Uncertain Tax Positions
✓
Receivables +16.3% vs revenue +22.2% (-5.8 pts)
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Cash from operations $115.8B vs net income $60.5B (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: Ernst & Young LLP
✓
No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 5, 20268-K Other events 8-K item 8.01
Oct 29, 20268-K Material agreement signed, Shareholder rights changed, Bylaws or fiscal year changed 8-K items 1.01, 3.03, 5.03
Oct 28, 2026Offering Sale of 40.0M new shares 424B5 · are offering 40,000,000 shares of our Class A Common Stock, par value $0.000006 per share (our “Class A Common Stock”).
Oct 28, 2026Offering Convertible preferred stock: 250.0M shares 424B5 · We are offering 250,000,000 of our Series A Depositary Shares (“Series A Depositary Shares”), each of which represents a 1/20th interest in a share of our 6.50% Series A Mandatory Convertible Preferred Stock, par value $0.000006 per share (“Series A Mandatory Convertible Preferred Stock”).
Oct 26, 2026Offering Shelf registration: shares and other securities, amount not fixed S-3ASR · from time to time, offer and sell, in one or more offerings, shares of common stock, preferred stock, depositary shares, warrants, purchase contracts, or units (collectively, the “securities”).

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Work on META in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/META/export.csv") into a cell.