Coupang, Inc. reported a total net revenue of $34.5 billion for the fiscal year ending December 31, 2025, marking a 14% increase from $30.3 billion in 2024. The company achieved a net income of $214 million, a significant recovery from a net loss of $66 million in the previous year. This turnaround reflects a net income margin of 0.6%, up from 0.2% in 2024. The gross profit also rose to $10.1 billion, a 15% increase compared to $8.8 billion in 2024. Adjusted EBITDA for the year was $1.5 billion, representing an 8% increase from $1.4 billion in 2024.
Coupang's financial performance was bolstered by a 10% increase in net retail sales, which reached $26.3 billion, and a 28% rise in net other revenue, totaling $8.2 billion. The growth in net revenues was driven by an increase in customer engagement and the expansion of product offerings, despite a slight decline in the growth rate of Product Commerce Active Customers in the fourth quarter due to seasonality and the impact of a data incident. The company reported a total of 24.6 million Product Commerce Active Customers by the end of 2025, an 8% increase from the previous year.
Strategically, Coupang completed the acquisition of Farfetch Holdings plc in January 2024, which has allowed the company to expand into the luxury retail market. The integration of Farfetch has been a focus for Coupang, with ongoing restructuring efforts to optimize operations. Additionally, the company has launched a customer compensation program in response to a data incident that occurred in November 2025, which involved unauthorized access to customer accounts. This program is expected to issue approximately $1.2 billion in vouchers to affected customers, potentially impacting net revenue growth and profitability in early 2026.
Operationally, Coupang has continued to invest in its fulfillment and logistics infrastructure, with a total employee headcount of approximately 108,000 as of December 31, 2025. The company has also reported significant investments in technology and customer service enhancements. As part of its growth strategy, Coupang aims to expand its offerings in various markets, including Taiwan and other international locations, while also focusing on improving customer experience through its WOW membership program.
Looking ahead, Coupang anticipates continued growth in its core markets, although it acknowledges potential challenges related to regulatory scrutiny, competition, and market conditions. The company remains committed to enhancing its operational capabilities and customer engagement strategies to drive future profitability.
About Coupang, Inc.
Coupang, Inc. is a leading e-commerce and technology company offering retail, food delivery, video streaming, and fintech services primarily in Korea and Taiwan. It provides fast delivery, membership benefits, private-label products, and a marketplace for SMEs and luxury brands. The company leverages integrated technology, logistics infrastructure, and customer-centric innovation to deliver a superior shopping experience and compete globally across multiple digital and offline channels.
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