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Coupang Announces Q4 2022 with Positive Net Income.

Philip Lee profile image
by Philip Lee
Source: Coupang

Coupang (NYSE: CPNG) has announced its financial results for the fourth quarter that ended December 31, 2022.

The Company reported total net revenues of $5.3 billion, an increase of 5% yearly.

The Company’s total gross profit increased 59% year over year to $1.3 billion, with a gross profit margin of 24.0%, an improvement of more than 810 basis points yearly.

Net income was $102 million, an improvement of $507 million year over year, and Adjusted EBITDA was $211 million, an increase of $496 million yearly.

Coupang’s Product Commerce net revenue for the quarter was $5.2 billion, up 5% year over year.

The company’s Product Commerce segment adjusted EBITDA margin reached a record 5.1%, demonstrating the long-term profit potential of the company’s core offerings.

Developing Offerings reported an adjusted EBITDA loss of $55 million, an improvement of $105 million year-over-year.

For the full year 2022, Coupang reported total net revenue of $20.6 billion, an increase of 12% year-over-year.

The company’s total gross profit improved 60% year-over-year to $4.7 billion, with a gross profit margin of 22.9%, an expansion of over 680 basis points year-over-year.

The company’s net loss was $92 million, an improvement of $1.5 billion year over year, and Adjusted EBITDA was positive $381 million, a gain of $1.1 billion year over year.

Coupang’s Product Commerce net revenue for the year reached $20.0 billion, up 12% year over year.

Product Commerce adjusted EBITDA margin was 3.0%, an expansion of more than 500 basis points year-over-year.

The Company’s cash flow from operations was $565 million, an improvement of $976 million year-over-year, and free cash flow was $(246) million, an increase of $837 million year-over-year.

The Company’s WOW membership program had 11 million paid members at the end of 2022, an increase of more than 20% year over year.

Please also read.

Coupang’s Daegu Fulfillment Center: A Look Inside the Future of Logistics

Coupang secured 48% of FDI from the US to South Korea.

Coupang Turns To Net Profit In Q3 FY 2022.

Coupang launches the next-delivery service in Taiwan.

Coupang releases its collaboration results with SMB partners.

Coupang turns to positive adjusted EBITDA in Q2 2022.

Coupang now enters credit financing via Coupang Financial.

Thuan Pham, Coupang CTO, leaves Coupang in September.

Philip Lee profile image
by Philip Lee

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