$CPNG

Coupang, Inc.

CIK:0001834584|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total net revenues	$ 8,856	$ 8,524	$ 17,360	$ 16,432
Cost of sales	6,362	5,963	12,569	11,555
Operating, general and administrative	3,050	2,412	5,589	4,574
Total operating cost and expenses	9,412	8,375	18,158	16,129
Operating (loss) income	(556)	149	(798)	303
Interest income	42	51	86	100
Interest expense	(25)	(25)	(38)	(48)
Other income (expense), net	6	19	(38)	55
(Loss) income before income taxes	(533)	194	(788)	410
Income tax expense	37	163	48	265
Net (loss) income	(570)	31	(836)	145
Net (loss) income attributable to noncontrolling interests	0	(1)	0	6
Net (loss) income attributable to Coupang stockholders	$ (570)	$ 32	$ (836)	$ 139
Earnings per share
Basic (in usd per share)	$ (0.32)	$ 0.02	$ (0.46)	$ 0.08
Diluted (in usd per share)	$ (0.32)	$ 0.02	$ (0.46)	$ 0.08
Weighted-average shares outstanding
Basic (in shares)	1,799	1,817	1,812	1,812
Diluted (in shares)	1,799	1,855	1,812	1,847
Net retail sales
Total net revenues	$ 6,744	$ 6,507	$ 13,220	$ 12,595
Net other revenue
Total net revenues	$ 2,112	$ 2,017	$ 4,140	$ 3,837

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net (loss) income	$ (836)	$ 145
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	288	248
Provision for severance benefits	133	115
Equity-based compensation	283	234
Non-cash operating lease expense	286	237
Deferred income taxes	(70)	23
Other	137	89
Change in operating assets and liabilities, net of acquisition:
Accounts receivable, net	(26)	(80)
Inventories	77	(110)
Other assets	(192)	(276)
Accounts payable	520	370
Accrued expenses	378	(55)
Other liabilities	(427)	(41)
Net cash provided by operating activities	551	899
Investing activities
Purchases of property and equipment	(613)	(538)
Proceeds from sale of property and equipment	3	2
Other investing activities	(18)	24
Net cash used in investing activities	(628)	(512)
Financing activities
Proceeds from issuance of common stock, equity-based compensation plan	1	3
Repurchase of Class A common stock	(850)	0
Proceeds from short-term borrowings and long-term debt	3,082	781
Repayment of short-term borrowings and long-term debt	(2,019)	(649)
Other financing activities	0	(27)
Net cash provided by financing activities	214	108
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(345)	363
Net (decrease) increase in cash and cash equivalents and restricted cash	(208)	858
Cash and cash equivalents and restricted cash, as of beginning of period	6,412	6,031
Cash and cash equivalents and restricted cash, as of end of period	$ 6,204	$ 6,889

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 6,110	$ 6,318
Restricted cash	94	94
Accounts receivable, net	363	363
Inventories	2,067	2,256
Prepaids and other current assets	626	660
Total current assets	9,260	9,691
Property and equipment, net	3,753	3,722
Operating lease right-of-use assets	2,762	2,765
Intangible assets, net	167	190
Deferred tax assets	626	596
Long-term lease deposits and other	826	823
Total assets	17,394	17,787
Liabilities and equity
Accounts payable	6,328	6,298
Accrued expenses	876	515
Deferred revenue	204	188
Short-term borrowings	1,985	960
Current portion of long-term operating lease obligations	560	545
Other current liabilities	686	851
Total current liabilities	10,639	9,357
Long-term debt	618	648
Long-term operating lease obligations	2,470	2,482
Defined severance benefits and other	680	677
Total liabilities	14,407	13,164
Commitments and contingencies (Note 10)
Equity
Class A — shares authorized 10,000, outstanding 1,634 and 1,665 Class B — shares authorized 250, outstanding 158 and 158	0	0
Additional paid-in capital	8,453	9,025
Accumulated other comprehensive loss	(609)	(381)
Accumulated deficit	(4,857)	(4,021)
Total equity	2,987	4,623
Total liabilities and equity	$ 17,394	$ 17,787