Coupang, Inc.CPNGEarnings & Financial Report
Coupang, Inc. is an American Delaware-incorporated technology and online retail company headquartered in Seattle, Washington. Founded in 2010 by Bom Kim, the company operates a retail business, food delivery service, and OTT streaming service, with offices and operations in South Korea, Taiwan, the United States, India, Japan and Singapore.
Revenue
$8.8B
Gross Profit
$2.5B
Operating Profit
$8.0M
Net Profit
$-26.0M
Gross Margin
28.8%
Operating Margin
0.1%
Net Margin
-0.3%
YoY Growth
10.9%
EPS
$-0.02
Coupang, Inc. Q4 FY2025 Financial Summary
Coupang, Inc. reported revenue of $8.8B (up 10.9% YoY) for Q4 FY2025, with a net profit of $-26.0M (down 116.7% YoY) (-0.3% margin). Cost of goods sold was $6.3B, operating expenses totaled $2.5B.
Key Financial Metrics
| Total Revenue | $8.8B |
|---|---|
| Net Profit | $-26.0M |
| Gross Margin | 28.8% |
| Operating Margin | 0.1% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
Coupang, Inc. Q4 FY2025 revenue of $8.8B breaks down across 3 segments, led by Products at $6.6B (75.1% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Products | $6.6B | 75.1% |
| Third Party Merchant Services | $1.9B | 21.5% |
| Service Other | $296.0M | 3.4% |
Coupang, Inc. Revenue by Segment — Quarterly Trend
Coupang, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Products and Third Party Merchant Services) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Products | — | $6.6B | $7.1B | $6.5B |
| Third Party Merchant Services | — | $1.9B | $1.9B | $1.8B |
| Service Other | — | $296.0M | $293.0M | $262.0M |
Coupang, Inc. Annual Revenue by Year
Coupang, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $34.5B).
| Year | Annual Revenue |
|---|---|
| 2025 | $34.5B |
| 2024 | $30.3B |
| 2023 | $24.4B |
| 2022 | $20.6B |
Coupang, Inc. Quarterly Revenue & Net Profit History
Coupang, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $8.5B | +7.5% | N/A | N/A |
| Q4 FY2025 | $8.8B | +10.9% | $-26.0M | -0.3% |
| Q3 FY2025 | $9.3B | +17.8% | $95.0M | 1.0% |
| Q2 FY2025 | $8.5B | +16.4% | $32.0M | 0.4% |
| Q1 FY2025 | $7.9B | +11.2% | $107.0M | 1.4% |
| Q4 FY2024 | $8.0B | +21.4% | $156.0M | 2.0% |
| Q3 FY2024 | $7.9B | +27.2% | $70.0M | 0.9% |
| Q2 FY2024 | $7.3B | +25.4% | $-77.0M | -1.1% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.32B | $7.87B | $7.96B | $7.91B | $8.52B | $9.27B | $8.84B | $8.50B |
| YoY Growth | 25.4% | 27.2% | 21.4% | 11.2% | 16.4% | 17.8% | 10.9% | 7.5% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $15.20B | $16.34B | $15.34B | $15.99B | $17.83B | $18.67B | $17.79B | $17.40B |
| Liabilities | $11.25B | $12.06B | $11.17B | $11.59B | $13.15B | $13.93B | $13.16B | $13.47B |
| Equity | $3.85B | $4.19B | $4.10B | $4.37B | $4.68B | $4.74B | $4.62B | $3.93B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $664.0M | $334.0M | $676.0M | $354.0M | $545.0M | $792.0M | $82.0M | $184.0M |