CPNG
Coupang, Inc.23.19
-1.14-4.69%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Incident recovery details, Taiwan logistics gains
Q&A unpacked the data incident's bite, with Product Commerce constant currency growth sliding from 16% pre-December to an estimated 4% in January (Lunar New Year adjusted) before February stabilization and normalized WOW churn. Management dodged granular Developing Offerings loss splits, framing them as a portfolio where Taiwan exceeds expectations—now delivering 75% next-day volume without variable cost spikes via foundational fixed investments. Buybacks progressed, deploying $243 million of the $1 billion authorization. AI poses no threat, just upside for selection, service, savings. Q&A largely reaffirms prepared remarks but adds recovery color. Investors watch incident fade-out and Taiwan leverage.
Key Stats
Market Cap
42.36BP/E (TTM)
110.43Basic EPS (TTM)
0.21Dividend Yield
0%Recent Filings
8-K
Q4 revenues up 11%, breach hit
10-K
FY2025 results
Coupang delivered FY2025 net revenues of $34.5B, up 14% y/y (18% constant currency), with Product Commerce driving $29.6B (16% constant currency) on 8-10% active customer growth to 24.6M in Q4 and steady net revenues per customer. Q4 momentum held firm despite a late-year data incident, as gross profit rose 15% to $10.1B on supply chain gains and FLC adoption, yielding Adjusted EBITDA of $1.5B (4.3% margin). Free cash flow fell to $527M amid $1.3B capex for fulfillment expansion. Strong liquidity persists at $6.4B cash; $757M remains authorized for buybacks after $243M repurchases. Korean regulatory scrutiny, including KFTC probes and data incident fallout, risks quarterly volatility.
8-K
Director eyes Fed Chair role
8-K
Cyber breach hits 33M accounts
Coupang disclosed a cybersecurity incident on November 18, 2025, where a former employee accessed names, phone numbers, addresses, emails, and order histories for up to 33 million Korean customer accounts. No payment data was compromised; operations continue uninterrupted. Korean regulators are investigating, with potential penalties unquantified. The Korean subsidiary CEO resigned December 10; interim led by General Counsel. Risks include revenue loss and litigation.
10-Q
Q3 FY2025 results
Coupang posted Q3 revenue of $9.3B, up 18% y/y, with net retail sales climbing 15% to $7.1B while other revenue surged 27% to $2.2B on stronger marketplace and Eats momentum. Operating income rose 49% y/y to $162M, driving diluted EPS of $0.05 (reconciles to 1,864M shares); gross margin held steady near 29%. Cash swelled to $7.2B, with YTD FCF at $805M (derived) despite $891M capex, while total debt eased to $1.0B including $425M on the new revolver. Farfetch integration advanced with full redeemable NCI buyout. Ongoing KFTC probes pose regulatory risk.
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