Group 1 - The article emphasizes the importance of experience in analyzing diverse industries such as airlines, oil, retail, mining, fintech, and ecommerce, highlighting the value of understanding macroeconomic, monetary, and political drivers [1] - The author reflects on their extensive experience through various crises, including the dotcom bubble, 9/11, the great recession, and the Covid-19 pandemic, which enriches their analytical capabilities [1] Group 2 - The article does not provide any specific company or industry analysis, nor does it mention any financial data or performance metrics [2][3]

Coupang (NYSE: CPNG ) reported robust earnings for the first quarter thanks to growing e-Commerce volumes and customer growth on its platform. The South Korean e-Commerce business benefited from double-digit top-line growth as well as an improving EBITDA trajectory (includingAnalyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN, CPNG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving comp ...

Coupang, Inc. (CPNG) came out with quarterly earnings of $0.06 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced earnings of $0.04, delivering a surprise of 500%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Coupang, which belongs to the Za ...

Financial Data and Key Metrics Changes - The company reported consolidated revenue growth of 11% year over year, or 21% on a constant currency basis [6][18] - Gross profit margin increased by 217 basis points to 29.3%, and adjusted EBITDA margins improved nearly 90 basis points to 4.8% [6][20] - Adjusted EBITDA for the trailing twelve months reached $1.5 billion, with free cash flow exceeding $1 billion [6][24] - Operating income grew to $154 million, a year-over-year increase of nearly 300% [22] - Net income attributable to stockholders was $107 million, resulting in diluted earnings per share of $0.06 [22] Business Line Data and Key Metrics Changes - Product Commerce segment revenues grew by 6% year over year, or 16% in constant currency, with active customers increasing by 9% [19] - Developing Offerings segment revenues surged by 67% year over year, or 78% in constant currency, driven by strong customer engagement in Eats and Taiwan [19][20] - Product Commerce gross profit was $2.2 billion, with a gross profit margin of 31.3%, reflecting a margin improvement of over 300 basis points year over year [20] Market Data and Key Metrics Changes - The company experienced strong momentum in Taiwan, with selection expanding by nearly 500% this quarter [12][43] - The Eats segment continued to sustain momentum, with strong customer enthusiasm and growth in both revenue and margin [15][38] Company Strategy and Development Direction - The company is focused on expanding selection, lowering prices, and enhancing delivery experiences to drive sustained growth [7][11] - Significant investments are being made in technology, innovation, automation, and robotics to improve operations and customer experience [10][11] - The company is optimistic about the potential in Taiwan, aiming to replicate the success seen in Korea [12][43] Management's Comments on Operating Environment and Future Outlook - Management noted that there has not been a meaningful impact from recent global events on the business, and they will continue to monitor the macroeconomic environment closely [17][29] - The company expects a full-year constant currency consolidated growth rate of about 20% [29][35] - Management remains confident in the long-term trajectory of investments in Taiwan and other developing offerings [43][54] Other Important Information - The board approved a $1 billion share repurchase program to act opportunistically in the market [26][30] - The effective income tax rate was reported at 47%, influenced by losses in early-stage operations in Taiwan [25] Q&A Session Summary Question: Impact of macro and tariff on business and user behavior - Management indicated limited impact from macro conditions and tariffs, with no significant changes in consumer behavior observed [29] Question: Details on the stock repurchase plan and capital allocation strategy - The share repurchase program is designed to generate meaningful returns for shareholders, with no fixed term for execution [30][31] Question: Revenue growth guidance and product commerce outlook - Management confirmed confidence in achieving the 20% revenue growth target despite current macro conditions [35] Question: Developing offerings loss and margin trends in Eats and Taiwan - Management acknowledged increased losses in developing offerings but highlighted strong growth and engagement in Eats and Taiwan [38][43] Question: Timeline for the share repurchase and user changes in Taiwan - There is no fixed timeline for the $1 billion repurchase, and management is optimistic about growth in Taiwan, expecting more changes in the coming quarters [41][43] Question: Growth for FLC and technology investment cycle - FLC is growing at a high multiple of the overall business, and the company is in the midst of a technology investment cycle that is expected to yield long-term benefits [51][55] Question: Impact of Chinese competitors on the market - Management emphasized a focus on providing the best customer experience and selection, regardless of competitor actions [54]

Financial Data and Key Metrics Changes - The company reported consolidated revenue growth of 11% year over year, or 21% on a constant currency basis [6][17] - Gross profit margin increased by 217 basis points to 29.3%, while adjusted EBITDA margins improved nearly 90 basis points to 4.8% [6][20] - Adjusted EBITDA for the trailing twelve months reached $1.5 billion, with free cash flow exceeding $1 billion [6] Business Line Data and Key Metrics Changes - The Product Commerce segment saw revenue growth of 6% year over year, or 16% in constant currency, with active customers growing by 9% [19] - The Developing Offerings segment experienced a significant revenue increase of 67% year over year, or 78% in constant currency, driven by strong customer engagement in Eats and Taiwan [19][20] - Gross profit for Product Commerce was $2.2 billion, with a gross profit margin of 31.3%, reflecting a margin improvement of over 300 basis points year over year [20] Market Data and Key Metrics Changes - In Taiwan, selection expanded by nearly 500% this quarter, leading to increased customer engagement and spending [11][42] - The company continues to see strong momentum in its Eats segment, sustaining growth and margin improvements throughout 2024 [14][38] Company Strategy and Development Direction - The company is focused on expanding selection, lowering prices, and enhancing delivery experiences to drive sustained growth [7][10] - Significant investments are being made in technology, innovation, automation, and robotics to improve operations and customer experience [9][10] - The company is optimistic about its investments in Taiwan, expecting them to follow a similar trajectory as past investments in Korea [12][43] Management Comments on Operating Environment and Future Outlook - Management noted that there has not been a meaningful impact from recent global events on the business, and they continue to monitor the macroeconomic environment closely [16][29] - The company maintains a growth outlook of approximately 20% for the full year on a constant currency basis, despite potential macroeconomic challenges [29][36] Other Important Information - The board approved a $1 billion share repurchase program as part of the company's capital allocation strategy, allowing for opportunistic buybacks [25][30] - The effective income tax rate was reported at 47%, influenced by losses in early-stage operations in Taiwan [24][25] Q&A Session Summary Question: Impact of macro and tariffs on business - Management indicated limited impact from macroeconomic factors and tariffs, with no significant changes in consumer behavior observed [28][29] Question: Details on the stock repurchase plan - The share repurchase program is designed to act opportunistically based on market conditions, with no fixed term established [30][31] Question: Revenue growth guidance comfort level - Management expressed confidence in achieving the 20% revenue growth target despite the current macro and competitive environment [33][36] Question: Developing offerings loss and margin trends - The company acknowledged increased losses in developing offerings but highlighted strong growth in Eats and Taiwan, expecting continued improvement [34][38] Question: Timeline for the share repurchase program - There is no fixed timeline for the $1 billion repurchase program, and the pace will be opportunistic [40][41] Question: User engagement in Taiwan post-selection increase - Management reported strong growth in Taiwan, with increased engagement and spending following the expansion of selection and the launch of the Wow membership program [42][43] Question: FLC growth and marketplace performance - FLC is growing at a high multiple of the overall business, with marketplace growth outpacing 1P [48][50] Question: Technology investment cycle status - The company is in the midst of a technology investment cycle, with expectations for OG&A expenses to decline as a percentage of revenue in the near to medium term [55][56]

Coupang (CPNG) Q1 2025 Earnings Call May 06, 2025 05:30 PM ET Company Participants Michael Parker - Vice President, Head of Investor RelationsBom Kim - Founder, CEO & ChairmanGaurav Anand - CFO Conference Call Participants Eric Cha - AnalystStanley Yang - AnalystSeyon Park - Equity Research AnalystJiong Shao - Analyst Operator Hello everyone. My name is Krista and I'll be your conference operator today. At this time, I would like to welcome everyone to the Kupong twenty twenty five First Quarter Earnings Co ...

coupang Q1 2025 Financial Results May 6, 2025 Disclaimer Forward-Looking Statements This presentation may contain statements that may be deemed to be "forward-kooking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (together, the "Act") that are intended to enjoy the protection of the safe harbor for for ward looking statements provided by the Act ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File No. 001-40115 COUPANG, INC. (Exact name of Registrant as specified in its charter) Delaware 27-2810505 (State or other jurisdi ...

Financial Performance - Net revenues for Q1 2025 were $7.9 billion, an increase of 11% YoY and 21% on an FX-neutral basis[7]. - Gross profit reached $2.3 billion, up 20% YoY and 31% on an FX-neutral basis, with a gross profit margin of 29.3%, improving by 217 bps YoY[7]. - Operating income was $154 million, an increase of $114 million from the previous year[7]. - Net income attributable to Coupang stockholders was $107 million, a significant increase of $102 million YoY[7]. - Net income for Q1 2025 was $114 million, a significant improvement compared to a net loss of $24 million in Q1 2024[24]. - Adjusted EBITDA for Q1 2025 was $382 million, compared to $281 million in Q1 2024, reflecting a year-over-year increase of 36%[36]. - The net income margin improved to 1.4% in Q1 2025, compared to a loss margin of (0.3)% in Q1 2024[36]. Revenue Segments - Product Commerce segment net revenues were $6.9 billion, up 6% YoY on a reported basis and 16% on an FX-neutral basis[9]. - Developing Offerings segment net revenues were $1.0 billion, up 67% YoY on a reported basis and 78% on an FX-neutral basis[9]. - Total net revenues for Q1 2025 reached $7,908 million, up from $7,114 million in Q1 2024, representing a growth of 11.1%[36]. - Net revenues per Product Commerce Active Customer decreased by 3% to $294 in Q1 2025, compared to $302 in Q1 2024[29]. Customer Metrics - Active customers in the Product Commerce segment reached 23.4 million, growing 9% YoY[7]. - Product Commerce Active Customers grew by 9% year-over-year, reaching 23.4 million in Q1 2025, up from 21.5 million in Q1 2024[29]. Cash Flow and Investments - Operating cash flow for the trailing twelve months was $2.0 billion, a decrease of $335 million YoY[7]. - Free cash flow for the trailing twelve months was $1.0 billion, down $450 million YoY[7]. - Free cash flow for Q1 2025 was $116 million, an increase from $107 million in Q1 2024[35]. - Net cash provided by operating activities for Q1 2025 was $354 million, up from $212 million in Q1 2024[24]. - Net cash provided by operating activities for the trailing twelve months was $2,028 million, down from $2,363 million in the previous year[35]. - Total purchases of property and equipment in Q1 2025 amounted to $239 million, up from $107 million in Q1 2024[35]. - Net cash used in investing activities for the trailing twelve months was $915 million, slightly down from $961 million in the previous year[35]. Balance Sheet - Total assets increased to $15,986 million as of March 31, 2025, up from $15,344 million on December 31, 2024, representing a growth of 4.2%[22]. - The company reported a total equity of $4,374 million as of March 31, 2025, an increase from $4,102 million on December 31, 2024[22]. - Long-term debt increased slightly to $1,002 million as of March 31, 2025, compared to $988 million on December 31, 2024[22]. Stock and Financing Activities - The company announced a stock repurchase program for up to $1 billion of its Class A common stock[6]. - The company reported a net cash used in financing activities of $105 million for the trailing twelve months, compared to a net cash provided of $173 million in the previous year[35].

Core Viewpoint - Coupang (CPNG) is set to report its first-quarter 2025 results on May 6, with expectations of revenue growth and potential challenges impacting earnings performance [1][2]. Financial Performance Expectations - The Zacks Consensus Estimate for CPNG's first-quarter 2025 revenues is $8.07 billion, reflecting a 13.43% increase from the previous year's quarter [2]. - The earnings estimate has decreased slightly to 6 cents per share, indicating a year-over-year growth of 20% [2]. - CPNG has exceeded the Zacks Consensus Estimate for earnings in three of the last four quarters, with an average surprise of 320.83% [3]. Factors Influencing Upcoming Results - The company reported a strong fourth-quarter 2024 performance, with net revenues growing 21% year over year to $8.0 billion and gross profit increasing 48% to $2.5 billion [4]. - The weakening Korean won, which reached its lowest level in over a decade, is expected to create currency headwinds, potentially affecting reported dollar-denominated results [5]. - Macroeconomic conditions in South Korea indicate a slowdown in domestic e-commerce market growth, which could impact CPNG's growth trajectory [6]. Investment and Operational Challenges - CPNG's increasing investment in technology and infrastructure is both an opportunity for long-term innovation and a challenge due to elevated operating expenses, which are expected to moderate only in the near to medium term [7]. - The Developing Offerings segment is projected to incur significant adjusted EBITDA losses of $650-750 million for 2025, despite showing promising growth in international expansion efforts [8]. - The Fulfillment & Logistics by Coupang offering is performing well and is margin-accretive, which may help support overall profitability despite revenue compression [9]. Current Market Position - Given the mixed factors and the current stock valuation, it may be prudent for investors to hold existing positions rather than initiate new ones ahead of the earnings announcement [10]. - CPNG currently has an Earnings ESP of -9.09% and a Zacks Rank of 3, indicating a lower likelihood of an earnings beat [11][12].