SEOUL, May 6 — E-commerce company Coupang, Inc. reported a net loss for the first quarter of 2026, driven by costs associated with a customer compensation program following a November 2025 data incident[cite: 10, 565, 568].

The company posted a net loss attributable to stockholders of $266 million, or $0.15 per diluted share, a decrease of $373 million from the net income reported in the same period last year[cite: 10, 11]. Total net revenues for the quarter were $8.5 billion, an 8% increase year-over-year on both a reported and constant currency basis[cite: 6].

Gross profit was $2.3 billion, decreasing 1% year-over-year, while the gross profit margin dropped 228 basis points to 27.0%[cite: 7, 8]. Adjusted EBITDA fell 92% to $29 million, with the margin shrinking to 0.3%[cite: 12].

Coupang attributed the profitability decline to two primary factors stemming from the November breach[cite: 565, 685]. First, the company issued approximately $1.2 billion in vouchers to affected customers[cite: 568]. These vouchers, which were netted against revenue upon redemption primarily during the first quarter, directly impacted margins[cite: 569, 570]. Second, company executives stated that the incident caused a temporary disruption in demand, leading to the underutilization of fixed logistics, fulfillment centers, and supply chain infrastructure that had been scaled for pre-incident growth projections[cite: 646, 652].

By segment, Product Commerce net revenues increased 4% to $7.2 billion[cite: 17]. Product Commerce active customers grew 2% year-over-year to 23.9 million[cite: 21]. The Developing Offerings segment, which includes Coupang Eats, Taiwan retail operations, Play, and Farfetch, generated $1.3 billion in net revenues, a 28% increase from the prior year[cite: 22, 582, 583]. However, adjusted EBITDA losses for this segment widened by $161 million to $329 million as the company continued to invest in early-stage initiatives and infrastructure[cite: 23, 689].

The company also announced that its Board of Directors approved an additional $1 billion to its ongoing stock repurchase program as part of its capital allocation strategy[cite: 15]. During the first quarter, Coupang repurchased 20.4 million shares of Class A common stock for an aggregate amount of $391 million[cite: 14].