Coupang CPNG Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total net revenues by Business | ||||||
| Developing Offerings | $1.33B+27.9% | $1.43B+31.9% | $1.29B+32.0% | $1.19B+33.4% | $1.04B+67.4% | |
| Product Commerce | $7.18B+4.5% | $7.41B+7.6% | $7.98B+15.8% | $7.33B+14.0% | $6.87B+5.8% | |
| Gross Profit by Business | ||||||
| Developing Offerings | $123M-25.5% | $183M-23.8% | $156M-22.4% | $171M-10.9% | $165M+77.4% | |
| Product Commerce | $2.17B+1.1% | $2.36B+4.9% | $2.56B+24.0% | $2.39B+22.6% | $2.15B+17.2% | |
| Total other segment items by Business | ||||||
| Developing Offerings | $452M+35.7% | $483M+34.9% | $448M+36.6% | $406M+3.6% | $333M+19.4% | |
| Product Commerce | $1.82B+13.4% | $1.79B+4.8% | $1.86B+16.3% | $1.73B+21.6% | $1.6B+16.9% | |
| Adjusted Earnings Before Interest, Tax, Depreciation and Amortisation by Business | ||||||
| Developing Offerings | -$329M-95.8% | -$300M-154% | -$292M-130% | -$235M-17.5% | -$168M+9.7% | |
| Product Commerce | $358M-34.9% | $567M+5.2% | $705M+50.0% | $663M+25.1% | $550M+17.8% | |
| Cost of Sales by Business | ||||||
| Developing Offerings | $1.21B+38.0% | $1.24B+47.7% | $1.13B+46.1% | $1.02B+45.6% | $873M+65.7% | |
| Product Commerce | $5B+6.0% | $5.05B+9.0% | $5.42B+12.3% | $4.94B+10.3% | $4.72B+1.3% | |
| Total net revenues by Product | ||||||
| Other revenue | $261M+1.2% | $296M+17.0% | $293M+29.1% | $262M+54.1% | $258M+50.0% | |
| Third-party merchant services | $1.77B+13.1% | $1.9B+14.6% | $1.89B+26.3% | $1.76B+27.7% | $1.56B+49.2% |
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.
