v3.26.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
Reportable segment financial information is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)
2026202520262025
Net revenues
Product Commerce$8,374 $7,980 $22,975 $22,184 
Developing Offerings1,588 1,287 4,347 3,515 
Total net revenues$9,962 $9,267 $27,322 $25,699 
Cost of sales
Product Commerce$5,998 $5,416 $16,157 $15,079 
Developing Offerings1,403 1,131 3,813 3,023 
Total cost of sales$7,401 $6,547 $19,970 $18,102 
Gross profit
Product Commerce$2,376 $2,564 $6,818 $7,105 
Developing Offerings185 156 534 492 
Total gross profit$2,561 $2,720 $7,352 $7,597 
Other segment items (1)
Product Commerce$1,991 $1,859 $5,693 $5,187 
Developing Offerings454 448 1,351 1,187 
Total other segment items$2,445 $2,307 $7,044 $6,374 
Segment adjusted EBITDA
Product Commerce$385 $705 $1,125 $1,918 
Developing Offerings(269)(292)(817)(695)
Total segment adjusted EBITDA$116 $413 $308 $1,223 
(1)Other segment items relate to operating, general and administrative expense, excluding depreciation and amortization, equity-based compensation expense, impairments and other items that we do not believe are reflective of our ongoing operations. The CODM does not regularly review disaggregated expense information included within “Other segment items” for any individual segment.
Reconciliations of segment profit or loss:
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2026202520262025
Total gross profit$2,561 $2,720 $7,352 $7,597 
Operating, general and administrative(3,011)(2,558)(8,600)(7,132)
Interest expense(22)(22)(60)(70)
Interest income45 52 131 152 
Other (expense) income, net(87)(27)(125)28 
(Loss) income before income taxes$(514)$165 $(1,302)$575 
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2026202520262025
Total segment adjusted EBITDA
$116 $413 $308 $1,223 
Depreciation and amortization(149)(133)(437)(381)
Equity-based compensation(169)(118)(461)(352)
Acquisition and restructuring related losses, net— — — (25)
Certain administrative fines(1)
— — (410)— 
Incheon FC Fire losses (see Note 8)(248)— (248)— 
Interest expense(22)(22)(60)(70)
Interest income45 52 131 152 
Other (expense) income, net(87)(27)(125)28 
(Loss) income before income taxes$(514)$165 $(1,302)$575 
Note: Amounts may not foot due to rounding.
(1)Administrative fines include only certain significant regulatory fines and penalties that Coupang does not consider to be normal operating expenses related to the Company’s ongoing operations, revenue generating activities, business strategy, industry, and regulatory environment, as discussed in Note 10 — “Commitments and Contingencies”.