Coupang, Inc. income statement
In fiscal 2025, Coupang, Inc. reported revenue of $34.53bn, up 14.1% on the year before, operating income of $473m (a 1.4% margin) and net income of $208m, or $0.11 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6.3 | 12.0 | 18.4 | 20.6 | 24.4 | 30.3 | 34.5 | 35.5 |
| Cost of revenue | 5.2 | 10.0 | 15.5 | 15.9 | 18.2 | 21.4 | 24.4 | 25.4 |
| Gross profit | 1.0 | 2.0 | 3.0 | 4.7 | 6.2 | 8.8 | 10.1 | 10.1 |
| General and administrative | 1.7 | 2.5 | 4.4 | 4.8 | 5.7 | 8.4 | 9.7 | 10.7 |
| Operating income | −0.6 | −0.5 | −1.5 | −0.1 | 0.5 | 0.4 | 0.5 | −0.6 |
| Interest expense | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 |
| Income before tax | −0.7 | −0.5 | −1.5 | −0.1 | 0.6 | 0.5 | 0.6 | −0.6 |
| Income tax | −0.0 | 0.0 | 0.0 | −0.0 | −0.8 | 0.4 | 0.4 | 0.2 |
| Net income | −0.7 | −0.5 | −1.5 | −0.1 | 1.4 | 0.2 | 0.2 | −0.8 |
| Diluted EPS | −$39.48 | −$19.16 | −$1.08 | −$0.05 | $0.75 | $0.08 | $0.11 | −$0.42 |
| Diluted shares (average) | 19m | 29m | 1,424m | 1,765m | 1,803m | 1,826m | 1,855m | 1,837m |
| EBITDA | −0.6 | −0.4 | −1.3 | 0.1 | 0.7 | 0.9 | 1.0 | −0.1 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,866 | 7,965 | 7,908 | 8,524 | 9,267 | 8,835 | 8,504 | 8,856 |
| Cost of revenue | 5,597 | 5,474 | 5,592 | 5,963 | 6,547 | 6,291 | 6,207 | 6,362 |
| Gross profit | 2,269 | 2,491 | 2,316 | 2,561 | 2,720 | 2,544 | 2,297 | 2,494 |
| General and administrative | 2,160 | 2,179 | 2,162 | 2,412 | 2,558 | 2,536 | 2,539 | 3,050 |
| Operating income | 109 | 312 | 154 | 149 | 162 | 8 | −242 | −556 |
| Interest expense | 36 | 40 | 23 | 25 | 22 | 16 | 13 | 25 |
| Income before tax | 132 | 279 | 216 | 194 | 165 | 22 | −255 | −533 |
| Income tax | 68 | 148 | 102 | 163 | 70 | 48 | 11 | 37 |
| Net income | 70 | 156 | 107 | 32 | 95 | −26 | −266 | −570 |
| Diluted EPS | $0.04 | $0.08 | $0.06 | $0.02 | $0.05 | −$0.02 | −$0.15 | −$0.32 |
| EBITDA | 221 | 432 | 276 | 275 | 295 | 144 | −99 | −411 |
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