Coupang (CPNG) Company Report

Coupang reported Q4 2025 total net revenues of $8.8 billion, an 11% year-over-year increase (14% in constant currency), with a net loss of $26 million and diluted loss per share of $0.01.
A data incident in late 2025, involving unauthorized access to basic customer data from over 33 million user accounts, led to a $1.2 billion customer compensation program and impacted Q4 revenue growth and customer metrics, with Product Commerce constant currency growth reaching an estimated 4% in January.
The Product Commerce segment generated $7.4 billion in net revenue, growing 12% in constant currency, while Developing Offerings saw $1.4 billion in net revenue, growing 31% in constant currency, primarily driven by hypergrowth in Taiwan.
For Q1 2026, Coupang anticipates consolidated constant currency revenue growth in the 5%-10% range, and projects full-year 2026 adjusted EBITDA losses for Developing Offerings to be between $950 million and $1 billion.
The company repurchased approximately 5.9 million shares during the quarter, having utilized $243 million of its $1 billion share repurchase authorization to date.

1 day ago

Transcript

Coupang Reports Q4 2025 Results Amidst Data Incident Impact and Provides Q1 2026 Guidance

CPNG

Earnings

Guidance Update

Legal Proceedings

Coupang reported Q4 2025 total net revenues of $8.8 billion, an 11% increase (14% constant currency), but experienced a net loss of $26 million and a 37% decrease in adjusted EBITDA to $267 million. These results were significantly impacted by a data incident that led to a slowdown in Product Commerce revenue growth and customer metrics in December.
The data incident involved a former employee illegally accessing data from over 33 million user accounts, though no financial data or passwords were compromised. Coupang has initiated a $1.2 billion customer compensation program in vouchers and has observed customer trends stabilize and begin to recover.
For Q1 2026, the company anticipates consolidated constant currency revenue growth in the 5%-10% range. Investments in Developing Offerings, particularly Taiwan's hypergrowth, are expected to result in full-year 2026 adjusted EBITDA losses of $950 million to $1 billion.
Coupang repurchased 5.9 million shares during Q4 2025, utilizing $243 million of its $1 billion share repurchase authorization.

1 day ago

Transcript

Coupang Reports Q4 and Full Year 2025 Financial Results

CPNG

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Coupang's total net revenues for Q4 2025 reached $8,835 million, an 11% increase year-over-year, contributing to a full-year 2025 total of $34,534 million, up 14% year-over-year.
While the company reported a net loss attributable to stockholders of $26 million for Q4 2025, it achieved positive net income attributable to stockholders of $208 million for the full year 2025, an increase of $54 million year-over-year.
Full year 2025 Adjusted EBITDA increased by $115 million year-over-year, reaching $1.5 billion with a 4.3% margin.
Free Cash Flow for full year 2025 decreased by $489 million year-over-year to $527 million, primarily due to the impact of a data incident on working capital in Q4 2025 and increased capital expenditures.
Gross Profit, excluding items not reflective of ongoing operations, for the full year 2025 grew 17% year-over-year to $10.2 billion, with a margin of 29.5%.

Metric	Q4 2025	FY 2025
Total Net Revenues ($USD Millions)	$8,835	$34,534
Net Income (Loss) Attributable to Coupang Stockholders ($USD Millions)	-$26	$208
Adjusted EBITDA ($USD Millions)	$267	$1,490
Adjusted EBITDA Margin (%)	3.0%	4.3%
Free Cash Flow ($USD Millions)	N/A	$527
Gross Profit, Excl. Items Not Reflective of Ongoing Operations ($USD Millions)	$2,544	$10,173
Gross Profit Margin, Excl. Items Not Reflective of Ongoing Operations (%)	28.8%	29.5%

1 day ago

Presentation

Coupang Reports Q4 2025 Results, Addresses Data Incident, and Provides Q1 2026 Outlook

CPNG

Earnings

Guidance Update

Legal Proceedings

Coupang reported Q4 2025 consolidated net revenues of $8.8 billion, an 11% year-over-year increase (14% in constant currency), and a net loss of $26 million.
A data incident in Q4 2025, affecting over 33 million user accounts, led to a slowdown in Product Commerce revenue growth, a slight decrease in active customers, and elevated WOW membership churn, though trends are now stabilizing. The company issued $1.2 billion in customer compensation vouchers.
The Developing Offerings segment saw strong growth, with net revenues increasing 31% in constant currency to $1.4 billion, primarily driven by triple-digit growth in Taiwan.
For Q1 2026, Coupang anticipates consolidated constant currency revenue growth in the 5%-10% range and projects full-year 2026 adjusted EBITDA losses for Developing Offerings between $950 million and $1 billion.
Coupang repurchased 5.9 million shares in Q4 2025, having utilized $243 million of its $1 billion share repurchase authorization.

1 day ago

Transcript

Coupang Announces Q4 2025 Results

CPNG

Earnings

Share Buyback

Coupang reported total net revenues of $8.8 billion for the fourth quarter of 2025, marking an 11% increase year-over-year on a reported basis.
The company recorded a net loss attributable to Coupang stockholders of $(26) million, resulting in a diluted EPS of $(0.01) for Q4 2025.
Adjusted EBITDA for the quarter was $267 million, with a 3.0% margin.
The Product Commerce segment generated $7.4 billion in net revenues, an 8% increase year-over-year, and its adjusted EBITDA reached $567 million.
During Q4 2025, Coupang repurchased 5.9 million shares of Class A common stock for an aggregate amount of $162 million.

1 day ago

8-K

Coupang Announces Fourth Quarter 2025 Results

CPNG

Earnings

Share Buyback

Demand Weakening

Coupang reported total net revenues of $8.8 billion for Q4 2025, an 11% increase year-over-year (14% on a constant currency basis), but recorded a net loss attributable to Coupang stockholders of $(26) million and a diluted EPS of $(0.01).
Adjusted EBITDA for the quarter was $267 million with a 3.0% margin, a decrease of 226 bps from last year.
The Product Commerce segment generated $7.4 billion in net revenues (up 8% YoY) and $567 million in adjusted EBITDA (up $28 million YoY), while the Developing Offerings segment had $1.4 billion in net revenues (up 32% YoY) but an adjusted EBITDA loss of $300 million.
Coupang repurchased 5.9 million shares of Class A common stock for $162 million during Q4 2025.
A data incident in Q4 2025, which involved illegal access to data from over 33 million user accounts, is estimated to have adversely impacted Q4 2025 revenue growth rates, active customers, and profitability.

1 day ago

Press Release

Coupang Faces Securities Class Action Deadline Amid Data Breach and Perjury Investigation

CPNG

Legal Proceedings

CEO Change

Investors in Coupang, Inc. (CPNG) are alerted to a February 17, 2026, deadline to participate in a securities class action lawsuit.
The lawsuit alleges Coupang misled investors by touting "proactive security" while failing to detect a data breach for nearly six months, which impacted 33.7 million accounts and an additional 165,000 users.
This incident has resulted in a $1.2 billion compensation plan, a CEO resignation, and the wiping out of over $8 billion in market value.
Coupang's interim CEO, Harold Rogers, is under investigation by South Korean authorities for alleged perjury regarding statements made about government direction in the breach investigation.

Feb 16, 2026, 5:09 PM

Press Release

Coupang Faces Securities Class Action Amid Data Breach and CEO Investigation

CPNG

Legal Proceedings

Management Change

Coupang's shares fell over 13% on February 5, 2026, following reports of an additional 165,000 user data leak, bringing the total to over 33 million affected users.
The company's interim CEO, Harold Rogers, is under investigation by South Korean authorities for alleged perjury related to statements about the data breach investigation.
A securities class action lawsuit has been filed against Coupang, alleging the company misled investors about its security and failed to detect a data breach impacting 33.7 million accounts for nearly six months.
This incident has led to a $1.2 billion compensation plan, a CEO resignation, and a loss of over $8 billion in market value. The Lead Plaintiff Deadline for the class action is February 17, 2026.

Feb 12, 2026, 10:23 PM

Press Release

Coupang Faces New Data Leak and CEO Perjury Investigation

CPNG

Legal Proceedings

Management Change

Coupang's shares fell over 13% on February 5, 2026, after reports of an additional 165,000 users' data leak, adding to the previously reported 33 million users affected by a security breach.
The company's interim CEO, Harold Rogers, is under investigation by South Korean authorities for potential perjury concerning statements made in late December 2025 about the cybersecurity incident.
A securities class action lawsuit is pending against Coupang, alleging the company misled investors about its security measures. The breach, which impacted 33.7 million accounts, has led to a $1.2 billion compensation plan and a loss of over $8 billion in market value.

Feb 11, 2026, 1:52 PM

Press Release

Coupang Faces Securities Class Action Amid Data Breach and CEO Investigation

CPNG

Legal Proceedings

CEO Change

Coupang (CPNG) shares dropped over 13% on February 5, 2026, following reports of an additional 165,000 user data leak, compounding a prior breach affecting 33 million users.
The company's interim CEO, Harold Rogers, is under investigation for alleged perjury by South Korean authorities regarding statements about the data breach investigation.
A securities class action has been filed for investors who purchased Coupang securities between May 7, 2025, and December 16, 2025, claiming the company misrepresented its security measures.
The breach, impacting 33.7 million accounts, has led to a $1.2 billion compensation plan and a CEO resignation, resulting in over $8 billion in lost market value.