Coupang Sees 13%-14% Q4 Constant-Currency Growth, 50-150-Bp Adjusted EBITDA Margin Rise

Coupang expects fourth-quarter revenue to grow 13% to 14% in constant currency and adjusted EBITDA margin to expand 50 to 150 basis points sequentially, setting a higher growth target than its third-quarter pace.

Revenue grew 11% year over year on a constant-currency basis in Q3. “Consolidated revenue grew 11% year over year in constant currency, exceeding the guidance range we provided,” Founder, CEO and Chairman Bom Suk Kim said.

Coupang’s third-quarter revenue reached $10 billion, up 7% from a year earlier on a reported basis and 11% in constant currency.

Management described Q3 as the low point for Product Commerce margins and expects them to return to about pre-incident levels by mid-2027. A fulfillment-center fire added about $248 million in expenses; excluding those costs, operating loss was $202 million.