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CoupangCPNG

Reported results from SEC filings: quarterly trend (up to twelve quarters) and annual results.

Quarterly results

Q3 2023 – Q2 2026
Revenue
Revenue
Coupang Revenue$0B$2B$4B$6B$8B$10BQ3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Revenue · Q3 '23: $6.2BRevenue · Q4 '23: $6.6BRevenue · Q1 '24: $7.1BRevenue · Q2 '24: $7.3BRevenue · Q3 '24: $7.9BRevenue · Q4 '24: $8BRevenue · Q1 '25: $7.9BRevenue · Q2 '25: $8.5BRevenue · Q3 '25: $9.3BRevenue · Q4 '25: $8.8BRevenue · Q1 '26: $8.5BRevenue · Q2 '26: $8.9B

Source: SEC EDGAR XBRL (10-Q, 10-K), latest filing included August 4, 2026. Some quarterly values (typically Q4 and quarterly cash flow) are derived from reported year-to-date totals.

Operating income and net income
Operating incomeNet income
Coupang Operating income and net income−$1B−$0.5B$0B$0.5B$1B$1.5BQ3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Operating income · Q3 '23: $88MOperating income · Q4 '23: $131MOperating income · Q1 '24: $40MOperating income · Q2 '24: −$25MOperating income · Q3 '24: $109MOperating income · Q4 '24: $312MOperating income · Q1 '25: $154MOperating income · Q2 '25: $149MOperating income · Q3 '25: $162MOperating income · Q4 '25: $8MOperating income · Q1 '26: −$242MOperating income · Q2 '26: −$556MNet income · Q3 '23: $91MNet income · Q4 '23: $1BNet income · Q1 '24: $5MNet income · Q2 '24: −$77MNet income · Q3 '24: $70MNet income · Q4 '24: $156MNet income · Q1 '25: $107MNet income · Q2 '25: $32MNet income · Q3 '25: $95MNet income · Q4 '25: −$26MNet income · Q1 '26: −$266MNet income · Q2 '26: −$570M

Source: SEC EDGAR XBRL (10-Q, 10-K), latest filing included August 4, 2026. Some quarterly values (typically Q4 and quarterly cash flow) are derived from reported year-to-date totals.

Cash flow
Operating cash flowCapital expenditureFree cash flow
Coupang Cash flow−$0.5B−$0.2B$0B$0.2B$0.5B$0.8B$1BQ3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Operating cash flow · Q3 '23: $722MOperating cash flow · Q4 '23: $609MOperating cash flow · Q1 '24: $212MOperating cash flow · Q2 '24: $664MOperating cash flow · Q3 '24: $334MOperating cash flow · Q4 '24: $676MOperating cash flow · Q1 '25: $354MOperating cash flow · Q2 '25: $545MOperating cash flow · Q3 '25: $792MOperating cash flow · Q4 '25: $82MOperating cash flow · Q1 '26: $184MOperating cash flow · Q2 '26: $367MCapital expenditure · Q3 '23: $190MCapital expenditure · Q4 '23: $234MCapital expenditure · Q1 '24: $107MCapital expenditure · Q2 '24: $178MCapital expenditure · Q3 '24: $380MCapital expenditure · Q4 '24: $214MCapital expenditure · Q1 '25: $239MCapital expenditure · Q2 '25: $299MCapital expenditure · Q3 '25: $353MCapital expenditure · Q4 '25: $360MCapital expenditure · Q1 '26: $296MCapital expenditure · Q2 '26: $317MFree cash flow · Q3 '23: $532MFree cash flow · Q4 '23: $375MFree cash flow · Q1 '24: $105MFree cash flow · Q2 '24: $486MFree cash flow · Q3 '24: −$46MFree cash flow · Q4 '24: $462MFree cash flow · Q1 '25: $115MFree cash flow · Q2 '25: $246MFree cash flow · Q3 '25: $439MFree cash flow · Q4 '25: −$278MFree cash flow · Q1 '26: −$112MFree cash flow · Q2 '26: $50M

Source: SEC EDGAR XBRL (10-Q, 10-K), latest filing included August 4, 2026. Some quarterly values (typically Q4 and quarterly cash flow) are derived from reported year-to-date totals. FCF = operating cash flow − capital expenditure.

Margins
Operating marginNet marginFCF margin
Coupang Margins-10%-5.0%0%5.0%10%15%20%Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Operating margin · Q3 '23: 1.4%Operating margin · Q4 '23: 2.0%Operating margin · Q1 '24: 0.60%Operating margin · Q2 '24: -0.30%Operating margin · Q3 '24: 1.4%Operating margin · Q4 '24: 3.9%Operating margin · Q1 '25: 1.9%Operating margin · Q2 '25: 1.7%Operating margin · Q3 '25: 1.7%Operating margin · Q4 '25: 0.10%Operating margin · Q1 '26: -2.8%Operating margin · Q2 '26: -6.3%-6.3%Net margin · Q3 '23: 1.5%Net margin · Q4 '23: 16%Net margin · Q1 '24: 0.10%Net margin · Q2 '24: -1.1%Net margin · Q3 '24: 0.90%Net margin · Q4 '24: 2.0%Net margin · Q1 '25: 1.4%Net margin · Q2 '25: 0.40%Net margin · Q3 '25: 1.0%Net margin · Q4 '25: -0.30%Net margin · Q1 '26: -3.1%Net margin · Q2 '26: -6.4%-6.4%FCF margin · Q3 '23: 8.6%FCF margin · Q4 '23: 5.7%FCF margin · Q1 '24: 1.5%FCF margin · Q2 '24: 6.6%FCF margin · Q3 '24: -0.60%FCF margin · Q4 '24: 5.8%FCF margin · Q1 '25: 1.5%FCF margin · Q2 '25: 2.9%FCF margin · Q3 '25: 4.7%FCF margin · Q4 '25: -3.1%FCF margin · Q1 '26: -1.3%FCF margin · Q2 '26: 0.60%0.60%

Source: SEC EDGAR XBRL (10-Q, 10-K), latest filing included August 4, 2026. Some quarterly values (typically Q4 and quarterly cash flow) are derived from reported year-to-date totals. As a percentage of revenue.

Annual results

FY2021 – FY2025
Annual results
RevenueOperating incomeFree cash flow
Coupang Annual results−$10B$0B$10B$20B$30B$40BFY2021FY2022FY2023FY2024FY2025Revenue · FY2021: $18.4BRevenue · FY2022: $20.6BRevenue · FY2023: $24.4BRevenue · FY2024: $30.3BRevenue · FY2025: $34.5BOperating income · FY2021: −$1.5BOperating income · FY2022: −$112MOperating income · FY2023: $473MOperating income · FY2024: $436MOperating income · FY2025: $473MFree cash flow · FY2021: −$1.1BFree cash flow · FY2022: −$259MFree cash flow · FY2023: $1.8BFree cash flow · FY2024: $1BFree cash flow · FY2025: $522M

Source: SEC EDGAR XBRL (10-K), latest filing included August 4, 2026.

Margins
Operating marginNet marginFCF margin
Coupang Margins-10%-5.0%0%5.0%10%FY2021FY2022FY2023FY2024FY2025Operating margin · FY2021: -8.1%Operating margin · FY2022: -0.50%Operating margin · FY2023: 1.9%Operating margin · FY2024: 1.4%Operating margin · FY2025: 1.4%1.4%Net margin · FY2021: -8.4%Net margin · FY2022: -0.40%Net margin · FY2023: 5.6%Net margin · FY2024: 0.50%Net margin · FY2025: 0.60%0.60%FCF margin · FY2021: -5.9%FCF margin · FY2022: -1.3%FCF margin · FY2023: 7.2%FCF margin · FY2024: 3.3%FCF margin · FY2025: 1.5%1.5%

Source: SEC EDGAR XBRL (10-K), latest filing included August 4, 2026.

Quarterly data (USD millions)

Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue6,1846,5617,1147,3237,8667,9657,9088,5249,2678,8358,5048,856
Operating income8813140−251093121541491628−242−556
Net income911,0335−77701561073295−26−266−570
Operating cash flow72260921266433467635454579282184367
Capital expenditure190234107178380214239299353360296317
Free cash flow532375105486−46462115246439−278−11250
Operating margin %1.42.00.6−0.31.43.91.91.71.70.1−2.8−6.3
Net margin %1.515.70.1−1.10.92.01.40.41.0−0.3−3.1−6.4
FCF margin %8.65.71.56.6−0.65.81.52.94.7−3.1−1.30.6

Annual data (USD millions)

FY2021FY2022FY2023FY2024FY2025
Revenue18,40620,58324,38330,26834,534
Operating income−1,494−112473436473
Net income−1,543−921,360154208
Operating cash flow−4115652,6521,8861,773
Capital expenditure6748248968791,251
Free cash flow−1,085−2591,7561,007522
Operating margin %−8.1−0.51.91.41.4
Net margin %−8.4−0.45.60.50.6
FCF margin %−5.9−1.37.23.31.5

Notes

Data files: financials.json