Coupang (CPNG) Q4 FY25 earnings call

Earnings call· Dec 2025 (Q4 FY25)· Consumer Discretionary· Feb 26, 2026

Source: earnings call transcript

Coupang's Q4 FY25 performance was significantly impacted by a data incident, leading to a slowdown in Product Commerce revenue growth and a slight decline in active customers, though trends are stabilizing. Despite these headwinds, the company continues aggressive investments in Developing Offerings, particularly Taiwan, which is experiencing hyper-growth and expanding its last-mile logistics, reflecting a long-term strategy focused on customer experience and scalability.

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CPNG operating KPIs by quarter

CPNG operating KPIs stated on its earnings calls, by fiscal quarter
KPI	This call 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.