Gross profit is calculated as total net revenues minus cost of sales.Ĭoupang, Inc. See the “Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures” sections herein for more information regarding our use of these measures and reconciliations to the most directly comparable financial measures calculated in accordance with accounting principles generally accepted in the United States of America (“U.S. Total net revenues growth, constant currency, total net revenues per Active Customer, constant currency, and adjusted EBITDA are non-GAAP financial measures as defined by the Securities and Exchange Commission (the “SEC”). Thanks to our sustained focus on operational excellence, we’ve now achieved a level of financial strength that positions us well for the future.”
“This milestone again demonstrates the power of our accelerating flywheel and the commitment of our teams to deliver our goals.
COMPUTE TOTAL CASHFLOWS FROM OPPERATING ACTIVITIES FREE
In Q1, we generated positive free cash flow of $451M on a trailing twelve-month basis,” added Coupang’s CFO, Gaurav Anand. “2022 was a year of significant milestones, and we begin 2023 with another major achievement. Our goal is to keep expanding membership benefits to make WOW the best deal on the planet.” These benefits will generate more savings for customers and make WOW even harder to resist. We’ve also started rolling out new Coupang Eats benefits to all WOW members. We’ve been delighted by the response from merchants and customers alike and are excited about the growth ahead. This program will expand selection on Rocket dramatically for customers.
And now any merchant can capture the growth of our end-to-end network through Fulfillment and Logistics by Coupang, or Rocket Growth, where units sold are up nearly 90% year over year. We’ve made unmatched investments to offer customers something much better: vast selection, low prices, and exceptional service. According to one study, Korean consumers have access to less than 10% of the retail space per capita available to their US counterparts. “The overwhelming majority of the retail market is still offline, where prices are high and selection limited. “We have an opportunity to transform the lives of our customers in the coming years,” said Bom Kim, Founder and CEO of Coupang. Product Commerce segment adjusted EBITDA margin was 5.1%, up over 500 bps YoY.ĭeveloping Offerings segment (including Coupang Eats, International, Play and Fintech) adjusted EBITDA was negative $47 million, an improvement of $46 million over last year. Product Commerce segment adjusted EBITDA was positive $288 million, up $285 million YoY. Product Commerce segment net revenues was $5.7 billion, up 15% YoY on a reported basis, or 21% on an FX-neutral basis.
Operating Cash flow for trailing twelve months was positive $1.1 billion, an increase of $1.4 billion YoY.Īchieved milestone of positive free cash flow of $451 million for trailing twelve months, an increase of $1.5 billion YoY.Īctive customers exceeded 19 million, up 5% both YoY and QoQ. Net income was $91 million, an improvement of $300 million over last year.Īdjusted EBITDA was $241 million with a margin of 4.2%, an improvement of nearly 600 bps over last year. Gross profit margin was 24.5%, an improvement of over 400 bps YoY. Gross profit increased 36% YoY to $1.4 billion. Net revenues were $5.8 billion, up 13% YoY on a reported basis, or 20% YoY on an FX-neutral basis. Q1 2023 Key Financial and Operational Highlights (NYSE: CPNG) today announced financial results for its first quarter ended March 31, 2023. SEATTLE & SEOUL, South Korea-( BUSINESS WIRE)-Coupang, Inc.
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