0001834584FALSE00018345842023-11-072023-11-07

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

November 7, 2023
Date of Report
(Date of earliest event reported)
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COUPANG, INC.
(Exact name of registrant as specified in its charter)

Delaware001-4011527-2810505
(State or other jurisdiction of
incorporation)
(Commission File Number)
(I.R.S. Employer
Identification Number)
720 Olive Way, Suite 600
Seattle, Washington 98101
(Address of principal executive offices, including zip code)

(206) 333-3839
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Class A Common Stock, par value $0.0001 per shareCPNGNew York Stock Exchange
(Title of Each Class)(Trading Symbol)(Name of Each Exchange on Which Registered)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02 Results of Operations and Financial Condition.

On November 7, 2023, Coupang, Inc. released its financial results for the third quarter 2023. A copy of the press release is attached as Exhibit 99.1 to this current Report on Form 8-K and is incorporated herein by reference.

The information in Item 2.02 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit NumberDescription of Exhibit
99.1
104Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


COUPANG, INC. (REGISTRANT)
By:/s/ Jonathan Lee
Jonathan Lee
Chief Accounting Officer

Dated: November 7, 2023

Exhibit 99.1
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Coupang Announces Results for Third Quarter 2023
Net Revenues of $6.2 billion, up 21% YoY and 18% on an FX-neutral basis
Gross Profit of $1.6 billion, up 27% YoY
Operating Cash Flow of $2.6 billion and Free Cash Flow of $1.9 billion for the trailing twelve months
SEATTLE - (BUSINESS WIRE) November 7, 2023—Coupang, Inc. (NYSE: CPNG) today announced financial results for its third quarter ended September 30, 2023.
Q3 2023 Key Financial and Operational Highlights
Consolidated Highlights:
•Net revenues were $6.2 billion, up 21% YoY on a reported basis and 18% YoY on an FX-neutral basis.
•The revenue growth rate would have been an estimated 635 bps higher than the 18% growth without the accounting change in FLC revenue, which we began recording on a net basis starting in Q2 2023.
•Gross profit increased 27% YoY to $1.6 billion.
•Gross profit margin was 25.3%, an improvement of 113 bps YoY. The accounting change in FLC revenue this quarter had a positive 140 bps impact.
•Net income was $91 million with a margin of 1.5%, an improvement of $1 million over last year.
•EPS was $0.05, consistent with the prior year.
•Adjusted EBITDA for the quarter was $239 million with a margin of 3.9%, an improvement of 10 bps over last year.
•Adjusted EBITDA for the trailing twelve months was $991 million with a margin of 4.3%, a YoY improvement of 490 bps.
•Operating cash flow for the trailing twelve months was $2.6 billion, an increase of $2.8 billion YoY.
•Free cash flow was $1.9 billion for the trailing twelve months, an increase of $2.9 billion YoY.
•Active customers surpassed 20.4 million, growing at 14% YoY.
Segment Highlights:
•Product Commerce segment net revenues was $6.0 billion, up 21% YoY on a reported basis and 18% on an FX-neutral basis.
•Product Commerce segment adjusted EBITDA was $399 million, up $160 million YoY.
•Product Commerce segment adjusted EBITDA margin was 6.7%, up 190 bps YoY.
•Developing Offerings segment (including International, Coupang Eats, Play and Fintech) net revenues was $218 million, up 41% YoY on a reported basis and 40% on an FX-neutral basis.
•Developing Offerings segment adjusted EBITDA was negative $161 million.

“Our unrelenting focus on the customer experience and operational excellence drove record results again this quarter,” said Bom Kim, Founder and CEO of Coupang. “Our revenue and active customers growth accelerated for the third consecutive quarter. Our Developing Offerings also generated over 40% revenue growth this quarter. In Taiwan, we’ve expanded Rocket Delivery and helped 12,000 small business export their products to a new market over the past year.”

“Over the past twelve months, we’ve generated a record $991 million in adjusted EBITDA, increasing margins by 490 basis points,” said Coupang’s CFO, Gaurav Anand. “We’ve expanded profitability while making investments in Developing Offerings, and we expect our consolidated margin to continue its march upwards on an annual basis.”
Coupang, Inc.
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Q3 2023 Earnings Release
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Third Quarter 2023 Results
Consolidated Financial Summary
(in thousands, except net revenues per Active Customer and net income per share)
Three Months Ended September 30,
20232022% Change
Total net revenues$6,183,555 $5,101,334 21 %
Total net revenues growth, constant currency(1)
18 %
Active Customers20,42117,99214 %
Total net revenues per Active Customer$303 $284 7 %
Total net revenues per Active Customer, constant currency(1)
$296 4 %
Gross profit(2)
$1,565,787 $1,233,888 27 %
Net income
$91,300 $90,679 1 %
Adjusted EBITDA(1)
$238,672 $194,919 22 %
Net income attributable to Class A and Class B common stockholders per share, basic and diluted$0.05 $0.05 — %
Net cash provided by operating activities$721,639 $58,164 
NM(3)
Free cash flow(1)
$536,237 $(222,446)
NM(3)
Segment Information
Three Months Ended September 30,
(in thousands)20232022% Change
Product Commerce
Net revenues$5,966,027 $4,947,174 21 %
Net revenues growth, constant currency(1)
18 %
Segment adjusted EBITDA$399,494 $239,222 67 %
Developing Offerings
Net revenues$217,528 $154,160 41 %
Net revenues growth, constant currency(1)
40 %
Segment adjusted EBITDA$(160,822)$(44,303)
NM(3)
_________
(1)Total net revenues growth, constant currency, total net revenues per Active Customer, constant currency, and adjusted EBITDA are non-GAAP financial measures as defined by the Securities and Exchange Commission (the “SEC”). See the “Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures” sections herein for more information regarding our use of these measures and reconciliations to the most directly comparable financial measures calculated in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
(2)Gross profit is calculated as total net revenues minus cost of sales.
(3)Non-meaningful
Coupang, Inc.
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Webcast and Conference Call
Coupang, Inc. will host a conference call to discuss third quarter results on November 7, 2023 at 5:30 PM Eastern Time (November 8, 2023 at 7:30 AM Korea Standard Time). A live webcast of the conference call will be available on our Investor Relations website, ir.aboutcoupang.com, and a replay of the conference call will be available for at least three months. This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable U.S. GAAP measures, as well as our third quarter earnings presentation, are also available on that site.
About Coupang
Coupang is one of the largest retailers in Asia, with a mission to revolutionize the everyday lives of its customers and create a world where people wonder, “How did we ever live without Coupang?” Coupang offers a variety of services, including same-day and next-morning delivery of general merchandise and groceries, delivery of prepared foods through Coupang Eats, and video streaming through Coupang Play. Coupang is headquartered in the United States, with operations and support services performed in markets including South Korea, Taiwan, Singapore, China, and India.
Investor Contact:Media Contact:
Coupang IRCoupang PR
ir@coupang.compress@coupang.com
Coupang, Inc.
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Q3 2023 Earnings Release
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FORWARD-LOOKING STATEMENTS
This earnings release or related management commentary may contain statements that may be deemed to be "forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Act”), that are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws.
We have based the forward-looking statements contained in this report on our current expectations and projections about future events and trends that we believe may affect our industry, business, financial condition, and results of operations. Actual results and outcomes could differ materially for a variety of reasons, including, among others: the continued growth of the retail market and the increased acceptance of online transactions by potential customers, competition in our industry, managing our growth and expansion into new markets and offerings, our financial performance, our ability to retain existing suppliers and to add new suppliers, our market position, our operation and management of our fulfillment and logistics infrastructure, other legal and regulatory developments, and the impact of the global economy including inflation and foreign currency exchange rates. For additional information on other potential risks and uncertainties that could cause actual results to differ from the results predicted, please see our most recent Annual Report on Form 10-K and subsequent filings. All forward-looking statements in this earnings release or related management commentary are based on information available to Coupang and assumptions and beliefs as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.
Investors and others should note that we may announce material business and financial information to our investors using our investor relations website (ir.aboutcoupang.com), our filings with the SEC, webcasts, press releases, and conference calls. We use these mediums, including our website, to communicate with investors and the general public about our company, our offerings, and other issues. It is possible that the information that we make available on our website may be deemed to be material information. We therefore encourage investors and others interested in our company to review the information that we make available on our website.
Coupang, Inc.
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Q3 2023 Earnings Release
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COUPANG, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in thousands, except per share amounts)2023202220232022
Net retail sales$5,314,683 $4,540,393 $15,659,829 $13,577,665 
Net other revenue868,872 560,941 2,162,145 1,678,176 
Total net revenues6,183,555 5,101,334 17,821,974 15,255,841 
Cost of sales4,617,768 3,867,446 13,312,472 11,824,754 
Operating, general and administrative1,478,303 1,156,468 4,167,601 3,626,515 
Total operating cost and expenses6,096,071 5,023,914 17,480,073 15,451,269 
Operating income (loss)87,484 77,420 341,901 (195,428)
Interest income50,237 15,403 123,728 26,301 
Interest expense(13,295)(6,485)(34,386)(19,996)
Other (expense) income, net(7,776)11,224 (19,556)2,485 
Income (loss) before income taxes116,650 97,562 411,687 (186,638)
Income tax expense25,350 6,883 84,340 7,468 
Net income (loss)91,300 90,679 327,347 (194,106)
Net income (loss) attributable to Class A and Class B common stockholders per share:
Basic and diluted$0.05 $0.05 $0.18 $(0.11)
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders:
Basic1,784,363 1,767,275 1,779,606 1,762,465 
Diluted1,808,311 1,790,941 1,801,006 1,762,465 

Coupang, Inc.
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COUPANG, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(in thousands, except par value)September 30, 2023December 31, 2022
Assets
Cash and cash equivalents$4,857,920 $3,509,334 
Restricted cash400,255 176,316 
Accounts receivable, net285,081 184,463 
Inventories1,640,567 1,656,851 
Prepaids and other current assets245,868 303,166 
Total current assets7,429,691 5,830,130 
Long-term restricted cash2,435 1,624 
Property and equipment, net2,200,638 1,819,945 
Operating lease right-of-use assets1,484,273 1,405,248 
Long-term lease deposits and other445,732 455,956 
Total assets$11,562,769 $9,512,903 
Liabilities and stockholders' equity
Accounts payable$4,616,045 $3,622,332 
Accrued expenses311,886 298,869 
Deferred revenue85,529 92,361 
Short-term borrowings232,094 175,403 
Current portion of long-term debt382,430 128,936 
Current portion of long-term operating lease obligations351,025 325,924 
Other current liabilities526,765 418,681 
Total current liabilities6,505,774 5,062,506 
Long-term debt527,711 537,880 
Long-term operating lease obligations1,295,117 1,233,680 
Defined severance benefits and other305,790 264,924 
Total liabilities8,634,392 7,098,990 
Contingencies
Stockholders' equity
Class A common stock, $0.0001 par value, 10,000,000 shares authorized, 1,611,084 and 1,597,804 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively; Class B common stock, $0.0001 par value, 250,000 shares authorized, 174,803 shares issued and outstanding as of September 30, 2023 and December 31, 2022
179 177 
Additional paid-in capital8,401,998 8,154,076 
Accumulated other comprehensive (loss) income(58,588)2,219 
Accumulated deficit(5,415,212)(5,742,559)
Total stockholders' equity2,928,377 2,413,913 
Total liabilities and stockholders' equity$11,562,769 $9,512,903 

Coupang, Inc.
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Q3 2023 Earnings Release
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COUPANG, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Nine Months Ended September 30,
(in thousands)20232022
Operating activities
Net income (loss)$327,347 $(194,106)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization197,816 174,063 
Provision for severance benefits117,243 124,056 
Equity-based compensation240,098 191,584 
Non-cash operating lease expense247,938 231,333 
Other99,594 56,536 
Change in operating assets and liabilities:
Accounts receivable, net(114,032)(39,325)
Inventories(86,692)(288,761)
Other assets(65,268)(273,554)
Accounts payable1,235,365 163,508 
Accrued expenses15,400 (6,359)
Other liabilities(172,116)(154,012)
Net cash provided by (used in) operating activities2,042,693 (15,037)
Investing activities
Purchases of property and equipment(662,273)(703,074)
Proceeds from sale of property and equipment12,461 10,600 
Other investing activities(13,898)(25,979)
Net cash used in investing activities(663,710)(718,453)
Financing activities
Proceeds from issuance of common stock, equity-based compensation plan7,826 14,998 
Proceeds from short-term borrowings and long-term debt416,508 543,185 
Repayment of short-term borrowings and long-term debt(63,654)(337,071)
Net short-term borrowings and other financing activities1,222 5,377 
Net cash provided by financing activities361,902 226,489 
Effect of exchange rate changes on cash and cash equivalents, and restricted cash(167,549)(243,132)
Net increase (decrease) in cash and cash equivalents, and restricted cash1,573,336 (750,133)
Cash and cash equivalents, and restricted cash, as of beginning of period3,687,274 3,810,347 
Cash and cash equivalents, and restricted cash, as of end of period$5,260,610 $3,060,214 
Coupang, Inc.
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Q3 2023 Earnings Release
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Supplemental Financial Information
Share Information
As of September 30,
(in thousands)20232022
Outstanding common stock
1,785,887 1,768,943 
Outstanding equity-based awards
63,594 58,259 
Outstanding common stock and equity-based awards1,849,481 1,827,202 

Key Business Metrics and Non-GAAP Financial Measures
We review the key business and financial metrics discussed below. We use these measures to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans, and make strategic decisions.
Key Business Metrics
Active Customers
As of the last date of each reported period, we determine our number of Active Customers by counting the total number of individual customers who have ordered at least once directly from our apps or websites in Korea during the relevant period. A customer is anyone who has created an account on our apps or websites, identified by a unique email address. The change in Active Customers in a reported period captures both the inflow of new customers as well as the outflow of existing customers who have not made a purchase in the period. We view the number of Active Customers as a key indicator of our potential for growth in total net revenues, the reach of our network, the awareness of our brand, and the engagement of our customers.
Total Net Revenues per Active Customer
Total net revenues per Active Customer is the total net revenues generated in a period divided by the total number of Active Customers in that period. A key driver of growth is increasing the frequency and the level of spend of Active Customers who are shopping on our apps or websites. We therefore view total net revenues per Active Customer as a key indicator of engagement and retention of our customers and our success in increasing the share of wallet.
Three Months Ended September 30,
(in thousands, except net revenues per Active Customer)20232022% Change
Active Customers20,42117,99214 %
Total net revenues per Active Customer$303 $284 7 %
Total net revenues per Active Customer, constant currency (YoY)$296 4 %
Non-GAAP Financial Measures
We report our financial results in accordance with U.S. GAAP. However, management believes that certain non-GAAP financial measures provide investors with additional useful information in evaluating our performance. These non-GAAP financial measures may be different than similarly titled measures used by other companies.
Our non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with U.S. GAAP. Non-GAAP measures have limitations in that they do not reflect all the amounts associated with our results of operations as determined in accordance with U.S. GAAP. These measures should only be used to evaluate our results of operations in conjunction with the corresponding U.S. GAAP measures.
Coupang, Inc.
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Non-GAAP MeasureDefinitionHow We Use The Measure
Adjusted EBITDA
• Net income (loss), excluding the effects of:
- depreciation and amortization,
- interest expense,
- interest income,
- other income (expense), net,
- income tax expense (benefit),
- equity-based compensation,
- impairments, and
- other items not reflective of our ongoing operations.
• Provides information to management to evaluate and assess our performance and allocate internal resources.
• We believe Adjusted EBITDA and Adjusted EBITDA Margin are frequently used by investors and other interested parties in evaluating companies in the retail industry for period-to-period comparisons as they remove the impact of certain items that are not representative of our ongoing business, such as material non-cash items and certain variable charges.
Adjusted EBITDA Margin• Adjusted EBITDA as a percentage of total net revenues.
Constant Currency Revenue• Constant currency information compares results between periods as if exchange rates had remained constant.
• We define constant currency revenue as total revenue excluding the effect of foreign exchange rate movements, and use it to determine the constant currency revenue growth on a comparative basis.
• Constant currency revenue is calculated by translating current period revenues using the prior period exchange rate.		• The effect of currency exchange rates on our business is an important factor in understanding period-to-period comparisons. Our financial reporting currency is the U.S. dollar (“USD”) and changes in foreign exchange rates can significantly affect our reported results and consolidated trends. For example, our business generates sales predominantly in Korean Won (“KRW”), which are favorably affected as the USD weakens relative to the KRW, and unfavorably affected as the USD strengthens relative to the KRW.
• We use constant currency revenue and constant currency revenue growth for financial and operational decision-making and as a means to evaluate comparisons between periods. We believe the presentation of our results on a constant currency basis in addition to U.S. GAAP results helps improve the ability to understand our performance because they exclude the effects of foreign currency volatility that are not indicative of our actual results of operations.
Constant Currency Revenue Growth• Constant currency revenue growth (as a percentage) is calculated by determining the increase in current period revenue over prior period revenue, where current period foreign currency revenue is translated using prior period exchange rates.
Free Cash Flow• Cash flow from operations
Less: purchases of property and equipment,
Plus: proceeds from sale of property and equipment.		• Provides information to management and investors about the amount of cash generated from our ongoing operations that, after purchases and sales of property and equipment, can be used for strategic initiatives, including investing in our business and strengthening our balance sheet, including paying down debt, and paying dividends to stockholders.
Segment Gross Profit
• Gross profit for a period attributable to each respective reportable segment.
• We believe segment gross profit and segment gross profit margin are frequently used by investors and other interested parties in evaluating companies in the retail industry for period-to-period comparisons. However, other companies may calculate segment gross profit and segment gross profit margin in a manner different from ours and therefore they may not be directly comparable to similar terms used by other companies.
Segment Gross Profit Margin
• Segment gross profit as a percentage of segment net revenues.
Coupang, Inc.
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Reconciliations of Non-GAAP Measures
A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future. Although, it is important to note that these factors could be material to Coupang’s results computed in accordance with GAAP.
The following tables present the reconciliations from each U.S. GAAP measure to its corresponding non-GAAP measure for the periods noted:
Coupang, Inc.
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Constant Currency Revenue and Constant Currency Revenue Growth (YoY)
Three Months Ended September 30,Year over Year Growth
20232022
(in thousands)As ReportedExchange Rate EffectConstant Currency BasisAs ReportedExchange Rate EffectConstant Currency BasisAs ReportedConstant Currency Basis
Consolidated
Net retail sales$5,314,683 $(132,709)$5,181,974 $4,540,393 $723,839 $5,264,232 17 %14 %
Net other revenue868,872 (11,527)857,345 560,941 89,440 650,381 55 %53 %
Total net revenues$6,183,555 $(144,236)$6,039,319 $5,101,334 $813,279 $5,914,613 21 %18 %
Net Revenues by Segment
Product Commerce$5,966,027 $(141,996)$5,824,031 $4,947,174 $788,061 $5,735,235 21 %18 %
Developing Offerings217,528 (2,240)215,288 154,160 25,218 179,378 41 %40 %
Total net revenues$6,183,555 $(144,236)$6,039,319 $5,101,334 $813,279 $5,914,613 21 %18 %
Nine Months Ended September 30,Year over Year Growth
20232022
(in thousands)As ReportedExchange Rate EffectConstant Currency BasisAs ReportedExchange Rate EffectConstant Currency BasisAs ReportedConstant Currency Basis
Consolidated
Net retail sales$15,659,829 $387,762 $16,047,591 $13,577,665 $1,655,356 $15,233,021 15 %18 %
Net other revenue2,162,145 53,539 2,215,684 1,678,176 204,599 1,882,775 29 %32 %
Total net revenues$17,821,974 $441,301 $18,263,275 $15,255,841 $1,859,955 $17,115,796 17 %20 %
Net Revenues by Segment
Product Commerce$17,305,966 $428,524 $17,734,490 $14,760,758 $1,799,596 $16,560,354 17 %20 %
Developing Offerings516,008 12,777 528,785 495,083 60,359 555,442 4 %7 %
Total net revenues$17,821,974 $441,301 $18,263,275 $15,255,841 $1,859,955 $17,115,796 17 %20 %
Free Cash Flow
Three Months Ended
September 30,
Nine Months Ended
September 30,
Trailing Twelve Months Ended September 30,
(in thousands)202320222023202220232022
Net cash provided by (used in) operating activities$721,639 $58,164 $2,042,693 $(15,037)$2,623,169 $(217,783)
Adjustments:
Purchases of land and buildings(32,670)(156,782)(331,281)(205,274)(352,594)(243,609)
Purchases of equipment(157,980)(126,618)(330,992)(497,800)(430,867)(627,574)
Total purchases of property and equipment(190,650)(283,400)(662,273)(703,074)(783,461)(871,183)
Proceeds from sale of property and equipment5,248 2,790 12,461 10,600 15,043 11,504 
Total adjustments$(185,402)$(280,610)$(649,812)$(692,474)$(768,418)$(859,679)
Free cash flow$536,237 $(222,446)$1,392,881 $(707,511)$1,854,751 $(1,077,462)
Net cash used in investing activities$(151,590)$(288,755)$(663,710)$(718,453)$(793,511)$(887,166)
Net cash provided by financing activities
$33,222 $145,821 $361,902 $226,489 $382,765 $131,148 
Coupang, Inc.
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Adjusted EBITDA and Adjusted EBITDA Margin
Three Months Ended September 30,Nine Months Ended September 30,Trailing Twelve Months Ended September 30,
(in thousands)202320222023202220232022
Total net revenues$6,183,555 $5,101,334 $17,821,974 $15,255,841 $23,148,748 $20,332,534 
Net income (loss)91,300 90,679 327,347 (194,106)429,411 (599,085)
Net income (loss) margin1.5 %1.8 %1.8 %(1.3)%1.9 %(2.9)%
Adjustments:
Depreciation and amortization67,393 54,424 197,816 174,063 254,718 229,677 
Interest expense13,295 6,485 34,386 19,996 41,559 27,307 
Interest income(50,237)(15,403)(123,728)(26,301)(150,225)(29,496)
Income tax expense25,350 6,883 84,340 7,468 75,809 8,299 
Other expense (income), net7,776 (11,224)19,556 (2,485)28,756 949 
Equity-based compensation83,795 63,075 240,098 191,584 310,780 247,479 
Adjusted EBITDA$238,672 $194,919 $779,815 $170,219 $990,808 $(114,870)
Adjusted EBITDA margin3.9 %3.8 %4.4 %1.1 %4.3 %(0.6)%
Segment Gross Profit and Segment Gross Profit Margin
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2023202220232022
Gross profit$1,565,787 $1,233,888 $4,509,502 $3,431,087 
Segment gross profit and gross profit margin:
Product Commerce$1,619,339 $1,217,593 4,564,390 3,410,027 
     Gross profit margin27.1 %24.6 %26.4 %23.1 %
Developing Offerings(53,552)16,295 (54,888)21,060 
     Gross profit margin(24.6)%10.6 %(10.6)%4.3 %
Coupang, Inc.
profileimg-icon.jpg
Q3 2023 Earnings Release
12
v3.23.3
Cover
Nov. 07, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 07, 2023
Entity Registrant Name COUPANG, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 001-40115
Entity Tax Identification Number 27-2810505
Entity Address, Address Line One 720 Olive Way
Entity Address, City or Town Seattle
Entity Address, Postal Zip Code 98101
City Area Code 206
Local Phone Number 333-3839
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share
Trading Symbol CPNG
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001834584
Amendment Flag false
Entity Addresses [Line Items]  
Entity Address, State or Province WA
Local Phone Number 333-3839
Entity Address, Address Line One 720 Olive Way
Entity Address, City or Town Seattle
Entity Address, Postal Zip Code 98101
City Area Code 206
Entity Address, Address Line Two Suite 600
Document Period End Date Nov. 07, 2023
Document Information [Line Items]  
Document Type 8-K
Coupang (NYSE:CPNG)
過去 株価チャート
から 4 2024 まで 5 2024 Coupangのチャートをもっと見るにはこちらをクリック
Coupang (NYSE:CPNG)
過去 株価チャート
から 5 2023 まで 5 2024 Coupangのチャートをもっと見るにはこちらをクリック