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Dec 31, 2022
Coupang Q4 2022 Earnings Report
Coupang's Q4 2022 results were announced, featuring record profit and significant improvements in key financial metrics.
Key Takeaways
Coupang reported a strong Q4 2022 with total net revenues of $5.3 billion, a net income of $102 million, and an adjusted EBITDA of $211 million. The company saw significant year-over-year improvements in gross profit and adjusted EBITDA, demonstrating progress towards profitability. They are updating their long-term adjusted EBITDA guidance to 10% or higher.
Total net revenues increased by 5% year-over-year to $5.3 billion.
Net income reached $102 million, a $507 million improvement year-over-year.
Gross profit surged by 59% year-over-year to $1.3 billion, with a gross profit margin of 24.0%.
Adjusted EBITDA was $211 million, reflecting a $496 million improvement year-over-year.
Revenue by Segment
Forward Guidance
Coupang expects to see margin expansion in 2023 and anticipates further penetration in the retail market.
Positive Outlook
- Company expects to see margin expansion in 2023.
- Company anticipates further penetration in the vast retail market.
- Strong foundation and momentum give them confidence in their ability to drive growth.
- Investments in new initiatives like food delivery, video streaming, fintech and international have the potential to unlock outsized value for customers and shareholders
- The overwhelming majority of the retail market is still offline with high prices and limited selection
Challenges Ahead
- Margin expansion may not be meaningful or consistent each quarter.
- Continued growth of the retail market and the increased acceptance of online transactions by potential customers
- Competition in the industry
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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