Coupang Surpasses $4.2 Billion in Q1 Sales, Up 74% Year-on-Year (Update)

Impact of One-Time Costs Including Increased Loss Scale and Stock Guarantee Expenses

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced on the 12th (local time) that it recorded sales of $4.2686 billion in the first quarter of this year. In Korean won, this amounts to 4.7348 trillion won. This represents a 74% increase compared to the same period last year. This announcement is the first quarterly earnings disclosure since its listing on the New York Stock Exchange. However, the net loss also reached $295.033 million, equivalent to 332 billion won, which is a 180% increase compared to the previous year.

The increase in sales is attributed to the growth in active customers in the first quarter. Coupang's number of active customers was 16.037 million, a 21% increase from the same period last year. Net revenue per active customer was $262 (approximately 294,900 won), a 44% increase from $182 in the previous year. The increase in customers and the amount each customer spent on Coupang contributed to the explosive sales growth. Gross profit, which is sales minus cost of sales, was $732.506 million, a 70% increase compared to the previous year.

The expansion of net loss compared to the previous year appears to be mainly due to one-time expenses. First, $87 million (approximately 97.9 billion won) was spent solely on stock-based compensation costs. Expenses related to stock compensation payments associated with the initial public offering (IPO) amounted to $66 million. Additionally, investments to expand order fulfillment center capacity, technology infrastructure, and workforce to continuously improve service and customer experience are also cited as causes for the increased losses.

This content was produced with the assistance of AI translation services.