Coupang CPNG Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total net revenues by Business | ||||||
| Developing Offerings | $1.33B-6.9% | $1.43B+10.9% | $1.29B+8.2% | $1.19B+14.6% | $1.04B-4.1% | |
| Product Commerce | $7.18B-3.1% | $7.41B-7.2% | $7.98B+8.8% | $7.33B+6.8% | $6.87B-0.2% | |
| Gross Profit by Business | ||||||
| Developing Offerings | $123M-32.8% | $183M+17.3% | $156M-8.8% | $171M+3.6% | $165M-31.3% | |
| Product Commerce | $2.17B-7.9% | $2.36B-7.9% | $2.56B+7.3% | $2.39B+11.1% | $2.15B-4.4% | |
| Total other segment items by Business | ||||||
| Developing Offerings | $452M-6.4% | $483M+7.8% | $448M+10.3% | $406M+21.9% | $333M-7.0% | |
| Product Commerce | $1.82B+1.2% | $1.79B-3.5% | $1.86B+7.6% | $1.73B+7.9% | $1.6B-6.5% | |
| Adjusted Earnings Before Interest, Tax, Depreciation and Amortisation by Business | ||||||
| Developing Offerings | -$329M-9.7% | -$300M-2.7% | -$292M-24.3% | -$235M-39.9% | -$168M-42.4% | |
| Product Commerce | $358M-36.9% | $567M-19.6% | $705M+6.3% | $663M+20.5% | $550M+2.0% | |
| Cost of Sales by Business | ||||||
| Developing Offerings | $1.21B-3.1% | $1.24B+10.0% | $1.13B+11.0% | $1.02B+16.7% | $873M+3.7% | |
| Product Commerce | $5B-0.9% | $5.05B-6.8% | $5.42B+9.5% | $4.94B+4.8% | $4.72B+1.9% | |
| Total net revenues by Product | ||||||
| Other revenue | $261M-11.8% | $296M+1.0% | $293M+11.8% | $262M+1.6% | $258M+2.0% | |
| Third-party merchant services | $1.77B-7.1% | $1.9B+0.5% | $1.89B+7.9% | $1.76B+12.4% | $1.56B-5.9% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Coupang break its business down?
- Coupang (CPNG) reports total net revenues by business across 2 parts — Developing Offerings and Product Commerce. Each is extracted from the segment footnotes and tracked over time.
- Where does Coupang's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Coupang's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
