Revenue Growth - Net revenues of 7.9billion,up27975 million, up 347% YoY on a reported basis and 356% on an FX-neutral basis[3] - Product Commerce segment net revenues were 6.9billion,up166,140 million, up 15.5% from 5,315millioninQ32023[14]−TotalnetrevenuesforQ32024reached7,866 million, a 27.2% increase from 6,184millioninQ32023[14]−TotalnetrevenuesforQ32024were7.866 billion, representing a 27% year-over-year growth, and 32% on a constant currency basis[26] - Net retail sales grew 16% year-over-year to 6.140billioninQ32024,and201.726 billion in Q3 2024, and 105% on a constant currency basis[26] - Consolidated total net revenues including Farfetch reached 7,866million,withayear−over−yeargrowthof277,427 million, showing a year-over-year growth of 20% on a reported basis and 25% on a constant currency basis[35] - Developing offerings net revenues excluding Farfetch were 536million,reflectingayear−over−yeargrowthof1462.3 billion, with a gross profit margin of 28.8%, up 350 bps YoY[3] - Adjusted EBITDA for the quarter was 343millionwithamarginof4.4343 million, with an Adjusted EBITDA margin of 4.4%, up from 3.9% in Q3 2023[29] - Gross profit excluding Farfetch was 2,086million,withagrossprofitmarginof28.1345 million, with an adjusted EBITDA margin of 4.6%, compared to 3.9% in the previous year[37] Customer Metrics - Product Commerce Active Customers reached 22.5 million, growing 11% YoY[3] - Product Commerce Active Customers grew to 22.5 million in Q3 2024, an 11% increase from 20.2 million in Q3 2023[22] - Net revenues per Product Commerce Active Customer rose to 307inQ32024,up4296 in Q3 2023[22] Cash Flow and Financial Position - Operating cash flow for the trailing twelve months was 1.8billion,adecreaseof805 million YoY[3] - Free cash flow was 935millionforthetrailingtwelvemonths,adecreaseof920 million YoY[3] - Cash and cash equivalents increased to 5,822millionasofSeptember30,2024,upfrom5,243 million at the end of 2023[16] - Total assets grew to 16,342millionasofSeptember30,2024,comparedto13,346 million at the end of 2023[16] - Net cash provided by operating activities for the nine months ended September 30, 2024, was 1,210million,downfrom2,043 million in the same period of 2023[18] - Purchases of property and equipment for the nine months ended September 30, 2024, totaled 665million,slightlyupfrom662 million in the same period of 2023[18] - Long-term debt increased to 1,194millionasofSeptember30,2024,upfrom529 million at the end of 2023[16] - Outstanding common stock and equity-based awards totaled 1,875 million as of September 30, 2024, up from 1,850 million at the end of 2023[19] - Free cash flow for Q3 2024 was -42million,comparedto536 million in Q3 2023[27] Net Income and Earnings - Net income attributable to Coupang stockholders was 70million,adecreaseof21 million from last year[3] - Developing Offerings segment adjusted EBITDA was negative 127million,adecreaseof34 million YoY and 73millionQoQ[3]−AdjustednetincomeattributabletoCoupangstockholderswas108 million in Q3 2024, up from 91millioninQ32023[31]−Adjusteddilutedearningspershareincreasedto0.06 in Q3 2024 from 0.05inQ32023[32]SegmentPerformance−ProductCommercesegmentnetrevenueswere6.9 billion, up 16% YoY on a reported basis and 20% on an FX-neutral basis[3] - Developing Offerings segment net revenues were 975million,up347127 million, a decrease of 34millionYoYand73 million QoQ[3] - Product Commerce segment gross profit margin improved to 30.0% in Q3 2024 from 27.1% in Q3 2023[30] - Developing Offerings segment gross profit margin turned positive at 20.6% in Q3 2024, compared to -24.6% in Q3 2023[30] - Developing offerings net revenues excluding Farfetch were $536 million, reflecting a year-over-year growth of 146% on a reported basis and 155% on a constant currency basis[39]
Coupang(CPNG)2024-11-05 21:06