Coupang, Inc. Class A ( (CPNG) ) has released its Q4 earnings. Here is a breakdown of the information Coupang, Inc. Class A presented to its investors.
Coupang, Inc. is a technology-driven company listed on the NYSE, offering a wide range of services including retail, restaurant delivery, video streaming, and fintech solutions globally under brands such as Coupang, Coupang Eats, Coupang Play, and Farfetch.
In its fourth-quarter 2024 earnings report, Coupang, Inc. announced a significant increase in net revenues, reaching $8.0 billion, marking a 21% year-over-year growth. The company also reported a gross profit of $2.5 billion, reflecting a 48% increase from the previous year. Despite these gains, net income attributable to Coupang stockholders saw a decrease due to a non-cash tax benefit recorded in the prior year.
Key financial highlights include a robust performance in the Product Commerce segment, with net revenues of $6.9 billion and a 31% increase in gross profit. The Developing Offerings segment, which includes international ventures and new services like Coupang Eats and Farfetch, saw an impressive 296% increase in net revenues. However, this segment reported a negative adjusted EBITDA, although it showed improvement from the previous year.
For the full year 2024, Coupang reported total net revenues of $30.3 billion, a 24% increase year-over-year. The company’s gross profit improved by 43%, and the adjusted EBITDA margin showed a slight improvement. Despite a decrease in net income due to previous tax benefits, Coupang maintained a strong cash flow position, with operating cash flow at $1.9 billion for the year.
Looking ahead, Coupang’s management remains optimistic about the company’s growth trajectory, focusing on expanding its market reach and enhancing its service offerings. The company aims to continue leveraging its technological capabilities to drive further growth and maintain its competitive edge in the global market.