Strong Revenue Growth: Coupang reported Q2 2025 consolidated revenue growth of 16% year-over-year (YOY), reaching $8.5 billion. In constant currency, this growth was 19%. The growth is primarily driven by existing customer spending, with all cohorts, including the most mature, showing robust double-digit increases.

Margin Expansion: The Product Commerce segment experienced significant gross profit margin expansion of nearly 230 basis points to 32.6%, with adjusted EBITDA margins growing 80 basis points to over 9%. This reflects ongoing improvements in operational efficiency and successful cost management, although the pace of margin expansion may not be linear moving forward.

Investment in Developing Offerings: Coupang expects adjusted EBITDA losses for the Developing Offerings segment, including Taiwan and Eats, to be between $900 million and $950 million for the full year. While these investments reflect growth potential, they pose risks in terms of financial performance, as the company aims to strengthen its position in these expanding markets.