Filing Flows › Coupang (CPNG) › Q2 2026
Coupang (CPNG) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Coupang (CPNG) reported revenue of $8.9B for the second quarter 2026 (Q2 2026), +4% from a year earlier and +4% from the quarter before. Operating margin was -6.3%, net loss $570M (6.4% of revenue).
Coupang, Q2 2026: revenue $8.9B (+4% year over year), operating margin -6.3%, net loss $570M, operating cash flow $367M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.9B | +4% | +4% |
| Operating profit | −$556M | — | -473% |
| Net earnings | −$570M | — | -1881% |
| Operating cash flow | $367M | +99% | -33% |
| Free cash flow | $51.0M | — | -79% |
What changed
Revenue was $8.9B in Q2 2026, up 4% year over year and up 4% from the previous quarter. Net retail sales was the largest line at 76% of revenue. Net retail sales added $0.24B year over year (up 4%), 71% of the total change.
Gross margin was 28.2%, down 1.9 points from Q2 2025. Operating costs exceeded revenue by $0.56B, an operating margin of -6.3%. Operating expenses grew 26% against revenue growth of 4%. The quarter ended with a net loss of $0.57B, wider than the previous quarter's $0.27B loss.
Operating cash flow was $0.37B (down 33% year over year). Non-cash charges added back $0.14B of depreciation and amortization and $0.16B of share-based compensation. Working capital and other items added $0.63B. After purchases of equipment, net ($0.18B) and purchases of land and buildings ($0.13B), free cash flow as the company reports it was $0.05B.
Questions
What was Coupang's revenue in the second quarter 2026?
Coupang (CPNG) reported revenue of $8.9B for the second quarter 2026 (Q2 2026), +4% from a year earlier and +4% from the quarter before.
Was Coupang profitable in the second quarter 2026?
Operating loss was $556M (-6.3% of revenue) and net loss $570M.
Source: Coupang 10-Q on SEC EDGAR.