Third-party merchant services — Total net revenues
Coupang Third-party merchant services — Total net revenues decreased by 7.1% to $1.77B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 13.1%, from $1.56B to $1.77B. Over 4 years (FY 2021 to FY 2025), Third-party merchant services — Total net revenues shows an upward trend with a 43.1% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase indicates growing adoption of the marketplace platform by third-party sellers and successful monetization of value-added services like logistics and advertising. A decrease may signal reduced merchant participation, increased competition, or a shift in the company's retail strategy.
Detailed definition
This metric represents the total revenue generated from services provided to third-party sellers operating on the compan...
Peer comparison
Comparable to marketplace service revenue or third-party seller fees reported by major global e-commerce platforms, often analyzed as a percentage of total Gross Merchandise Value (GMV).
cpng_segment_third_party_merchant_services_total_net_revenuesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $430.23M | $450.63M | $463.62M | $491.35M | $475.55M | $447.87M | $454.73M | $460.98M | $562.76M | $708.51M | $843.76M | $1.05B | $1.37B | $1.50B | $1.66B | $1.56B | $1.76B | $1.89B | $1.90B | $1.77B |
| QoQ Change | — | +4.7% | +2.9% | +6.0% | -3.2% | -5.8% | +1.5% | +1.4% | +22.1% | +25.9% | +19.1% | +24.1% | +31.2% | +9.1% | +10.7% | -5.9% | +12.4% | +7.9% | +0.5% | -7.1% |
| YoY Change | — | — | — | — | +10.5% | -0.6% | -1.9% | -6.2% | +18.3% | +58.2% | +85.6% | +127.1% | +144.2% | +111.6% | +96.7% | +49.2% | +27.7% | +26.3% | +14.6% | +13.1% |
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Frequently Asked Questions
- What is Coupang's third-party merchant services — total net revenues?
- Coupang (CPNG) reported third-party merchant services — total net revenues of $1.77B in Q1 2026.
- How has Coupang's third-party merchant services — total net revenues changed year-over-year?
- Coupang's third-party merchant services — total net revenues increased by 13.1% year-over-year, from $1.56B to $1.77B.
- What is the long-term trend for Coupang's third-party merchant services — total net revenues?
- Over 4 years (2021 to 2025), Coupang's third-party merchant services — total net revenues has grown at a 43.1% compound annual growth rate (CAGR), from $1.70B to $7.11B.
- What does third-party merchant services — total net revenues mean?
- Total revenue earned from fees and services charged to third-party merchants selling products on the company's marketplace.