CPNG

EX-99.1

2 cpng-03312026ex991.htm

EX-99.1

Document

Exhibit 99.1

Coupang Announces Results for First Quarter 2026

Net Revenues of $8.5 billion, up 8% YoY and 8% on a constant currency basis

Product Commerce Segment Net Revenues of $7.2 billion, up 4% YoY and 5% on a constant currency basis

Developing Offerings Segment Net Revenues of $1.3 billion, up 28% YoY and 25% on a constant currency basis

SEATTLE - (BUSINESS WIRE) May 5, 2026—Coupang, Inc. (NYSE: CPNG) today announced financial results for its first quarter ended March 31, 2026.

Q1 2026 Consolidated Highlights:

•Total net revenues were $8.5 billion, up 8% YoY on both a reported and constant currency basis.

•Gross profit was $2.3 billion, decreasing 1% YoY and flat on a constant currency basis. Gross profit margin was 27.0%, a decrease of 228 bps YoY.

•Operating (loss) income was $(242) million, a decrease of $396 million from the operating income last year.

•Net (loss) income attributable to Coupang stockholders was $(266) million, a decrease of $373 million from the net income last year.

•Diluted EPS was $(0.15), down $0.21 YoY.

•Adjusted EBITDA for the quarter was $29 million with a margin of 0.3%, down 449 bps versus last year.

•Operating cash flow for the trailing twelve months was $1.6 billion, a decrease of $425 million YoY and free cash flow was $301 million for the trailing twelve months, a decrease of $724 million YoY.

•20.4 million shares of Class A common stock were repurchased during the quarter for an aggregate amount of $391 million. Our Board of Directors have recently approved an additional $1 billion to be added to our stock repurchase program as part of our ongoing capital allocation strategy.

Q1 2026 Segment Highlights:

•Product Commerce segment net revenues were $7.2 billion, up 4% YoY on a reported basis and 5% YoY on a constant currency basis.

•Product Commerce gross profit was $2.2 billion, up 1% YoY and 2% YoY on a constant currency basis. Gross profit margin was 30.3%, a decrease of 101 bps YoY.

•Product Commerce segment adjusted EBITDA was $358 million, down $192 million YoY, with a margin of 5.0%, down 302 bps YoY.

•Product Commerce Active Customers grew to 23.9 million, up 2% YoY.

•Developing Offerings segment net revenues were $1.3 billion, up 28% YoY on a reported basis and 25% YoY on a constant currency basis.

•Developing Offerings segment adjusted EBITDA losses were $329 million, increasing $161 million YoY.

Coupang, Inc.

Q1 2026 Earnings Release

1

First Quarter 2026 Results

Consolidated Financial Summary

(in millions, except net revenues per Product Commerce Active Customer and earnings per share) Three Months Ended March 31,

20262025% Change

Total net revenues$8,504 $7,908 8 %

Total net revenues growth, constant currency(1) 8 %

Net revenues per Product Commerce Active Customer $300 $294 2 %

Net revenues per Product Commerce Active Customer, constant currency $303 3 %

Product Commerce Active Customers 23.923.42 %

Gross profit(2) $2,297 $2,316 (1)%

Gross profit growth, constant currency(1)(2) — %

Operating (loss) income$(242)$154

NM(3)

Net (loss) income$(266)$114

NM(3)

Net (loss) income attributable to Coupang stockholders$(266)$107

NM(3)

Adjusted EBITDA(1) $29 $382 (92)%

Earnings per share, basic and diluted $(0.15)$0.06

NM(3)

Net cash provided by operating activities$184 $354 (48)%

Free cash flow(1) $(110)$116

NM(3)

Trailing Twelve Months Ended March 31,% Change

(in millions)20262025

Net cash provided by operating activities $1,603 $2,028 (21)%

Free cash flow(1) $301 $1,025 (71)%

Segment Information

Three Months Ended March 31,

(in millions) 20262025% Change

Product Commerce

Net revenues$7,176 $6,870 4 %

Net revenues growth, constant currency(1) 5 %

Gross profit(2) $2,174 $2,151 1 %

Gross profit growth, constant currency(1)(2) 2 %

Segment adjusted EBITDA$358 $550 (35)%

Developing Offerings

Net revenues$1,328 $1,038 28 %

Net revenues growth, constant currency(1) 25 %

Gross profit(2) $123 $165 (25)%

Gross profit growth, constant currency(1)(2) (32)%

Segment adjusted EBITDA$(329)$(168)96 %

(1)Total net revenues growth, constant currency, gross profit growth, constant currency, adjusted EBITDA, and free cash flow 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.

Q1 2026 Earnings Release

2

Webcast and Conference Call

Coupang, Inc. will host a conference call to discuss first quarter results on May 5, 2026 at 2:30 PM PT/ 5:30 PM ET. A live webcast of the con

cpng-202602260001834584FALSE00018345842026-02-262026-02-26

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

February 26, 2026 Date of Report (Date of earliest event reported)

COUPANG, INC.

(Exact name of registrant as specified in its charter)

Delaware001-4011527-2810505 (State or other jurisdiction of incorporation or organization) (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 February 26, 2026, Coupang, Inc. released its financial results for the fourth quarter 2025 and year ended December 31, 2025. 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 99.1Press Release dated February 26, 2026 announcing Coupang, Inc.’s Fourth Quarter 2025 and Year Ended December 31, 2025 Financial Results.

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: February 26, 2026

cpng-202511040001834584FALSE00018345842025-11-042025-11-04

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 4, 2025 Date of Report (Date of earliest event reported)

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 4, 2025, Coupang, Inc. released its financial results for the third quarter 2025. 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 99.1Press Release dated November 4, 2025 announcing Coupang, Inc.’s Third Quarter 2025 Financial Results.

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 4, 2025