Coupang(US:CPNG)2025-11-04 21:08Financial Performance - Net revenues for Q3 2025 were $9.3 billion, representing an 18% increase year-over-year (YoY) and a 20% increase on a constant currency basis[5]. - Gross profit increased to $2.7 billion, up 20% YoY and 22% on a constant currency basis, with a gross profit margin of 29.4%, an improvement of 51 basis points YoY[5]. - Operating income reached $162 million, an increase of $53 million compared to the previous year[5]. - Net income attributable to Coupang stockholders was $95 million, up $31 million YoY, with diluted EPS of $0.05, an increase of $0.01[5]. - Adjusted EBITDA for the quarter was $413 million, with a margin of 4.5%, up 10 basis points from last year[5]. - Net income for the nine months ended September 30, 2025, was $240 million, a significant improvement compared to a net loss of $65 million in the same period of 2024[22]. - Net income attributable to Coupang stockholders for Q3 2025 was $95 million, compared to $70 million in Q3 2024[35]. - The company reported a net income margin of 1.0% for Q3 2025, compared to 0.8% in Q3 2024[35]. Cash Flow and Assets - Operating cash flow for the trailing twelve months was $2.4 billion, an increase of $549 million YoY, while free cash flow was $1.3 billion, up $333 million YoY[5]. - Cash and cash equivalents increased to $7,324 million as of September 30, 2025, compared to $5,962 million at the end of the previous year, marking a rise of 22.8%[22]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $1,691 million, compared to $1,210 million in 2024, showing a growth of 39.7%[22]. - Net cash provided by operating activities for the trailing twelve months ended September 30, 2025, was $2,367 million, up from $1,818 million in the previous year[34]. - Free cash flow for Q3 2025 was $442 million, a significant improvement from a negative $42 million in Q3 2024[34]. Customer Metrics - Active Customers in the Product Commerce segment reached 24.7 million, growing 10% YoY[5]. - Product Commerce Active Customers grew to 24.7 million, a 10% increase from 22.5 million in the previous year[28]. - Net revenues per Product Commerce Active Customer reached $323, reflecting a 5% increase from $307 in the prior year[28]. Segment Performance - Product Commerce segment net revenues were $8.0 billion, up 16% YoY, with gross profit of $2.6 billion, reflecting a 24% increase YoY[7]. - Developing Offerings segment net revenues were $1.3 billion, up 32% YoY, but reported an adjusted EBITDA loss of $292 million, increasing $165 million YoY[7]. - Developing offerings segment reported revenues of $1,287 million in Q3 2025, a 32% increase from $975 million in Q3 2024[33]. - Net retail sales for Q3 2025 were $7,081 million, reflecting a 15% year-over-year growth from $6,140 million in Q3 2024[33]. Equity and Liabilities - Total assets increased to $18,668 million as of September 30, 2025, up from $15,344 million on December 31, 2024, representing a growth of 21.1%[20]. - Total liabilities rose to $13,927 million, up from $11,167 million, indicating a 24.9% increase[20]. - The company reported a total equity of $4,741 million as of September 30, 2025, an increase from $4,102 million at the end of 2024, representing a growth of 15.6%[20]. Strategic Focus - Adjusted EBITDA margin is a key measure used by the company to evaluate performance and allocate resources effectively[31]. - The company plans to continue focusing on increasing customer engagement and retention to drive future revenue growth[25]. Share Repurchase - Coupang repurchased 2.8 million shares of Class A common stock for an aggregate amount of $81 million during the quarter[5]. Capital Expenditures - Total purchases of property and equipment for Q3 2025 amounted to $353 million, a decrease from $380 million in Q3 2024[34].