Coupang’s Q4 Sales Up 10.9% to $8.84B While EPS Misses
Coupang’s Q4 CY2025 revenue rose 10.9% to $8.84 billion, missing the $9.18 billion estimate, and its GAAP loss of $0.01 per share fell short of the $0.04 profit target. Adjusted EBITDA of $267 million and operating margin of 0.1% trailed forecasts, while free cash flow plunged to negative $278 million.
1. Q4 Revenue and EPS Results
Coupang reported Q4 CY2025 revenue of $8.84 billion, up 10.9% year-on-year but below the $9.18 billion consensus. The company recorded a GAAP loss of $0.01 per share, missing the $0.04 profit target.
2. Profitability Metrics
Adjusted EBITDA reached $267 million, slightly under analyst forecasts, and operating margin contracted sharply to 0.1% from 3.9% a year earlier. This reflects rising costs and pressure on core profitability.
3. Cash Flow
Free cash flow swung to a negative $278 million in Q4, a significant decline from positive $442 million in the prior quarter, indicating increased investments or working capital needs.
4. Customer Base
Active customers rose by 1.8 million year-on-year to 24.6 million, delivering a 7.9% increase. While growth remains solid, revenue per buyer growth slowed to 2.8% year-on-year.