Coupang (CPNG) Q1 FY25 earnings call

Earnings call· Mar 2025 (Q1 FY25)· Consumer Discretionary· May 6, 2025

Source: earnings call transcript

Coupang commenced FY25 with robust constant currency revenue growth and significant margin expansion, driven by strategic investments in its Product Commerce segment and operational efficiencies. The company is aggressively expanding its Developing Offerings, particularly in Taiwan, and announced a new $1 billion share repurchase program, signaling confidence in its long-term value creation despite near-term losses in new ventures. Management maintains its full-year constant currency consolidated growth outlook of 20%.

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CPNG operating KPIs by quarter

CPNG operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2025 Q4 FY25	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Active Customers Product Commerce	24.6M Product Commerce Active Customers for the quarter were 24.6 million, growing 8% year-over-year but down slightly from 24.7 million active customers reported last quarter. Source: earnings call transcript	23.9M Product Commerce active customers for the quarter were 23.9 million, growing 2% year-over-year but down 3% over last quarter. Source: earnings call transcript	24.7M Product Commerce active customers for the quarter were 24.7 million, growing 3% year-over-year and up from 23.9 million last quarter. Source: earnings call transcript	+3.3%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.