This report provides the first comprehensive overview of the conservation status of migratory species listed under the Convention on Migratory Species (CMS). It finds that the status of many CMS-listed species is deteriorating, with one in five threatened with extinction and nearly half experiencing population declines. The situation is particularly dire for CMS-listed fish, with 97% threatened with extinction. Extinction risk is rising across CMS species and other migratory species. The main threats driving this decline are overexploitation, habitat loss, and pollution. While conservation efforts are underway, increased action is urgently needed to address threats, protect habitats, and improve the conservation status of migratory species worldwide.