---
schema_version: "secwatch.filing_event.v1"
accession: "0001834584-23-000016"
form_type: "8-K"
ticker: "CPNG"
cik: "0001834584"
company_name: "Coupang, Inc."
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T22:41:21.536360+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Coupang Q4 net income $102M (record profit); revenue $5.3B (+21% FX-neutral); raises long-term EBITDA guidance to 10%+

## Summary
- Q4 net income $102M vs loss $405M YoY; adjusted EBITDA $211M (4.0% margin) vs loss $285M.
- Total net revenues $5.3B, up 5% reported / 21% FX-neutral; full-year revenue $20.6B (+26% FX-neutral).
- Product Commerce segment adjusted EBITDA margin hit record 5.1% in Q4; full-year margin 3.0% (+500 bps).
- WOW paid members 11M at year-end, up >20% YoY; free cash flow TTM improved to $(246)M from $(1.1B).
- CFO updated long-term adjusted EBITDA guidance to 10% or higher; expects margin expansion in 2023.

## SEC filing metadata
- accession: 0001834584-23-000016
- form_type: 8-K
- ticker: CPNG
- cik: 0001834584
- company_name: Coupang, Inc.
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1834584/000183458423000016/0001834584-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1834584/000183458423000016/cpng-20230228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001834584-23-000016
- JSON: https://secwatch.observer/filing/0001834584-23-000016.json
- Plain text: https://secwatch.observer/filing/0001834584-23-000016.txt

## Key facts
- Earnings Releases
  Coupang, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $5.3 billion, net income $102 million. Guidance raised.
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $5.3 billion
  - Net income: $102 million
  - Guidance: raised
  - Result: reported results
  source text: Coupang Announces Results for Fourth Quarter 2022 Total net revenues of $5.3 billion, up 21% year over year on an FX-neutral basis Net income of $102 million, representing record profit Adjusted EBITDA of $211 million and a margin of 4.0%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1834584/000183458423000016/0001834584-23-000016-index.htm
- Earnings Releases
  Coupang, Inc. reported the year ended December 31, 2022 results: revenue $20.6 billion, net income $92 million. Guidance raised.
  - Period: the year ended December 31, 2022
  - Revenue: $20.6 billion
  - Net income: $92 million
  - Guidance: raised
  - Result: reported results
  source text: FY2022 Key Financial and Operational Highlights • Total net revenues was $20.6 billion, increasing 12% YoY on a reported basis, or 26% YoY on an FX-neutral basis. • Total gross profit improved 60% YoY to $4.7 billion, with gross profit margin of 22.9%, an expansion of over 680 bps YoY. • Net loss was $92 million, an improvement of $1.5 billion over 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1834584/000183458423000016/0001834584-23-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.