Slide 1: Q1 2023 Financial Results
coupang Q1 2023 Financial Results May 9, 2023
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation may contain statements that may be deemed to be "forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Act”), that are intended to enjoy the protection of the safe harbor for forw
Slide 3: Total Net Revenues
Total Net Revenues Up 13% YoY Up 20% YoY FX-neutral $5.8B ; / Q122 Q2 22 Q3 22 Q4 22 Q123 Note: FX-neutral represents the change in net revenues as though the foreign exchange rates remained the same as those in effectin the comparable prior year period. coupang | 2
Slide 4: Total Net Revenues - TTM
Total Net Revenues - TTM Up 10% YoY Up 24% YoY FX-neutral $21.3B j i; ; ; ' Q122 Q2 22 Q3 22 Q4 22 Q123 Note: TTM represents trailing twelve months. coupang | 3
Slide 5: Gross Profit
Gross Profit Up 36% YoY GPM up 410 bps YoY $1.4B $1.0B 24.5% 20.4% Q122 Q2 22 Q3 22 Q4 22 Q123 @ margin coupang | 4
Slide 6: Gross Profit - TTM
Gross Profit - TTM Up 56% YoY GPM up 700 bps YoY $5.1B $3.3B 23.9% 16.9% i Q122 Q2 22 Q3 22 Q4 22 Q123 © margin coupang | 5
Slide 7: Operating Income (Loss)
Operating Income (Loss) Up $312M YoY $107M $(206M) Q122 Q2 22 Q3 22 Q4 22 Q123 coupang | 6
Slide 8: Operating Income (Loss) - TTM
Operating Income (Loss) - TTM Up $1.6B YoY $201M - $(1.4B) Q122 Q2 22 Q3 22 Q4 22 Q123 coupang | 7
Slide 9: Net Income (Loss)
Net Income (Loss) Up $300M YoY $91M $(209M) Q122 Q2 22 Q3 22 Q4 22 Q1 23 coupang | 8
Slide 10: Net Income (Loss) - TTM
Net Income (Loss) - TTM Up $1.7B YoY $208M if $(1.5B) Q122 Q2 22 Q3 22 Q4 22 Q123 coupang | 9
Slide 11: Adjusted EBITDA
Adjusted EBITDA Up $332M YoY $241M Th Q122 Q2 22 Q3 22 Q4 22 Q1 23 $(91M) @ margin Note: Adjusted EBITDA defined as net income (loss) excluding the effects of: depreciation and amortization, interest expense and income, other income (expense), income tax expense (benefit), coupan: | 10 equity-based
Slide 12: Adjusted EBITDA - TTM
Adjusted EBITDA - TTM Up $1.4B YoY $713M 34% | (3.7)% $(706M) Q122 Q2 22 Q3 22 Q4 22 Q123 © margin coupang | 11
Slide 13: Operating Cash Flow - TTM
Operating Cash Flow - TTM Up $1.4B YoY $118 $(282M) a Q122 Q2 22 Q3 22 Q4 22 Q123 coupang | 12
Slide 14: Free Cash Flow - TTM
Free Cash Flow - TTM $(1.0B) Up $1.5B YoY $451M Q122 Q2 22 Q3 22 Q4 22 Q123 Note: Free cash flow defined as cash flow from operations, less capital expenditures, plus proceeds from sale of property and equipment. See Appendix for a reconciliation of operating cash coupan: 113 flow to free cash flow.
Slide 15: Common Stock
Common Stock 1.2% YoY Dilution 1,812M 1,833M ; ; ; - Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 "Outstanding Common Stock = Outstanding Equity-based Awards Note: Dilution represents the change in the total of outstanding common stock and outstanding equity-based awards. coupang | 14
Slide 16: Active Customers
Active Customers 19M : Q122 Q2 22 Q3 22 Q4 22 Q1 23 Up 5% YoY coupang | 15
Slide 17: Segment Results: Product Commerce
Segment Results: Product Commerce Net Revenue Adj. EBITDA Up 15% YoY Up $285M YoY UP 21% YoY F/X neutral $5.7B $288M $4.9B 5.1% 0.1% e Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 @ margin coupang | 16
Slide 18: Segment Results: Product Commerce - TTM
Segment Results: Product Commerce - TTM Net Revenue - TTM Adj. EBITDA - TTM Up 11% YoY Up $1.2B YoY UP 24% YoY F/X neutral $891M $20.7B $18.7B ~* (1.5)% | | $(289M) Q122 Q2 22 Q3 22 Q4 22 Q123 Q122 Q2 22 Q3 22 Q4 22 Q123 @ margin coupang | 17
Slide 19: Segment Results: Developing Offerings
Segment Results: Developing Offerings Net Revenue Adj. EBITDA Down 21% YoY Improved 49% YoY Down 17% YoY F/X neutral $181M $142M LJ a 7 eo (33.4)% (51.9)% $(47M) $(94M) Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q122 Q2 22 Q3 22 Q4 22 Q123 @ margin coupang | i
Slide 20: Segment Results: Developing Offerings - TTM
Segment Results: Developing Offerings - TTM Net Revenue - TTM Adj. EBITDA - TTM Down 8% YoY Improved 57% YoY Up 3% YoY F/X neutral (65.1% $(178M) $(417M) Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q122 Q2 22 Q3 22 Q4 22 Q123 @ margin coupang | 19
Slide 21: Our Operating Tenets
Our Operating Tenets One, we exist to deliver new moments of wow for customers. Two, we don’t start with what looks easy. We work backwards from imagining jaw-dropping customer experiences and we embrace the hard work required to challenge trade-offs that customers take for granted. Three, we will e
Slide 22: Appendix
id Create a wor mers wonder ey iv je withe oupang?” oe — i ( Appendix
Slide 23: Non-GAAP Measure: Adjusted EBITDA
Non-GAAP Measure: Adjusted EBITDA Three Months Ended (in thousands) March 31, June 30, September 30, December 31, March 31, 2022 2022 2022 2022 2023 Total net revenues $ 516686 8 $ 5,037,821 $ 5,101,334 $5,326,774 $5,800,530 Net income (loss) (209,294) (75,491) 90,679 102,064 90,855 Net income (loss
Slide 24: Non-GAAP Measure: Adjusted EBITDA - TTM
Non-GAAP Measure: Adjusted EBITDA - TTM Trailing Twelve Months Ended (in thousands) March 31, June 30, September 30, December 31, March 31, 2022 2022 2022 2022 2023 Total net revenues $ 19,316,198 $ 19,875,905 $ 20,332,534 $ 20582615 $ 21,266,459 Net income (loss) (1,456,851) (1,013,741) (599,085) (
Slide 25: Non-GAAP Measure: Free Cash Flow - TTM
Non-GAAP Measure: Free Cash Flow - TTM Trailing Twelve Months Ended (in thousands) March 31, June 30, September 30, December 31, March 31, 2022 2022 2022 2022 2023 Netcash provided by (used in) operating $ (282168) $ (331313) $ (217783) $ 565439 $ 1,121,681 Adjustments: Purchases of land and buildin