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Coupang Inc. Posts Record Q3 Revenue of 14.2 Trillion Won, Operating Loss of 642.3 Billion Won

SoftwareNovember 4, 20262 min read

Coupang Inc., the U.S. parent company of Korean e-commerce firm Coupang, reported record third-quarter sales. It still posted an operating loss of more than 600 billion won, its third straight quarterly loss.

Record sales, but another loss

Coupang Inc. filed its third-quarter results with the U.S. Securities and Exchange Commission (SEC) on the 3rd, local time. Sales hit a record $9.962 billion, up 7% in dollars from a year earlier. In won terms, sales rose 11%. But the company lost $450 million on its operations, after making a $162 million operating profit a year earlier. A fire at its Incheon logistics center also added about 354 billion won in losses.

Key numbers

Sales: $9.962 billion (about 14.22 trillion won), up 7% year on year
Operating loss: $450 million (about 642.3 billion won), versus a $162 million profit a year earlier
Net loss: $501 million (about 715.1 billion won), versus a $95 million profit a year earlier
Fire-related losses: $248 million (about 354 billion won)
Loss without the fire: about $202 million operating loss, still a loss

What is behind the numbers

Coupang's main business is product commerce. This includes Rocket Delivery, which ships orders fast, and Rocket Fresh for groceries. It also includes Rocket Growth and a marketplace where outside sellers sell goods. A fire at its Incheon warehouse in July caused the losses. The company had warned in its last report that the fire would cost about $246 million, and it recorded that cost in the third quarter. Its growth businesses, including Taiwan Rocket Delivery, Farfetch, and Coupang Eats, grew 23% in sales, but still lost money.

Why it matters

Coupang is growing its sales, but costs are rising faster than the money it earns. Even without the fire, the company would still have lost money in the quarter. Investors will watch whether it can return to profit while it keeps spending on new businesses abroad.

What to watch

Whether the company returns to an operating profit in coming quarters
How much more the Incheon fire will cost
Whether customer numbers and spending per customer keep growing
How much the spending on overseas businesses slows losses

Glossary

Coupang Inc.: The U.S. parent company of Coupang, the Korean online shopping and delivery company.
SEC: The U.S. Securities and Exchange Commission, the government agency that oversees stock markets and company reports.
Rocket Delivery: Coupang's fast delivery service that gets orders to customers quickly.
Operating loss: When a company's costs from running its business are higher than its sales, leaving it with a loss.

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