Coupang, Inc. reported a significant increase in total net revenues for Q2 2024, with a 25% year-over-year growth to $7.32 billion, and a 24% increase to $14.44 billion for the first half of the year. The company's net loss widened to $105 million for the quarter and $129 million for the six-month period, compared to a net income of $145 million and $236 million in the same periods of the previous year. Adjusted EBITDA rose by 10% to $330 million for the quarter and by 13% to $611 million for the six-month period. Free cash flow saw an 8% increase to $488 million for the quarter, but a 31% decrease to $595 million for the six-month period. The acquisition of Farfetch, a luxury fashion marketplace, contributed $460 million in net revenues for the...Show More

Coupang, Inc. reported a significant increase in total net revenues for Q2 2024, with a 25% year-over-year growth to $7.32 billion, and a 24% increase to $14.44 billion for the first half of the year. The company's net loss widened to $105 million for the quarter and $129 million for the six-month period, compared to a net income of $145 million and $236 million in the same periods of the previous year. Adjusted EBITDA rose by 10% to $330 million for the quarter and by 13% to $611 million for the six-month period. Free cash flow saw an 8% increase to $488 million for the quarter, but a 31% decrease to $595 million for the six-month period. The acquisition of Farfetch, a luxury fashion marketplace, contributed $460 million in net revenues for the quarter and $748 million for the six months since its acquisition in January 2024. Coupang's Product Commerce segment, which includes core retail and marketplace offerings, saw a 30% increase in segment adjusted EBITDA for the quarter and a 43% increase for the six-month period. However, the Developing Offerings segment, which includes nascent offerings and services, experienced an 87% increase in adjusted EBITDA loss for the quarter and a 149% increase for the six-month period. Coupang's liquidity remains strong with $5.8 billion in cash, cash equivalents, and restricted cash as of June 30, 2024. The company plans to continue investing in growth, particularly in its Developing Offerings segment and in expanding its fulfillment, logistics, and technology capabilities.