Coupang Reports 16% Revenue Growth and Net Income Turnaround in Latest Quarterly Results

Coupang, Inc. reported significant financial improvements in its latest quarterly results, as detailed in its Form 10-Q filing for the period ending June 30, 2025. The company achieved total net revenues of $8.524 billion, marking a 16% increase from $7.323 billion in the same quarter of the previous year. This growth was driven by a 13% rise in net retail sales, which reached $6.507 billion, and a 31% increase in net other revenue, totaling $2.017 billion. The company also reported a net income of $31 million, a notable recovery from a loss of $105 million in the prior year, reflecting a significant turnaround in profitability.

Comparatively, the first half of 2025 saw total net revenues of $16.432 billion, up 14% from $14.437 billion in the first half of 2024. The company’s operating income improved to $303 million from just $15 million a year earlier, indicating enhanced operational efficiency. Coupang's gross profit also increased by 20% to $2.561 billion for the quarter, driven by higher margins from its Product Commerce segment, which includes its core retail operations in Korea.

Strategically, Coupang has been expanding its offerings and geographic reach. The acquisition of Farfetch Holdings plc in January 2024 has allowed Coupang to enter the luxury fashion market, contributing to its Developing Offerings segment. The company has also been restructuring its operations post-acquisition, including reducing headcount and exiting certain lease agreements. As of June 30, 2025, Coupang reported 23.9 million active customers in its Product Commerce segment, a 10% increase year-over-year, indicating strong customer engagement and retention.

Operationally, Coupang's investments in technology and logistics have continued to pay off, with the company reporting a decrease in cost of sales as a percentage of revenue, from 70.7% to 70.0% year-over-year. The company’s cash and cash equivalents stood at $6.796 billion, up from $5.879 billion at the end of 2024, providing a solid liquidity position to support ongoing investments and growth initiatives. Looking ahead, Coupang anticipates continued growth in its retail and developing offerings, although it acknowledges potential challenges from market conditions and competition. The company remains focused on enhancing its operational efficiencies and expanding its market presence.