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EX - 99.1 2 cpng - 06302021ex991.htm EX - 99.1 coupang Coupang Announces Second Quarter Revenue Growth of 71 % and Adjusted Gross Profit Growth¹ of 86 % 15th consecutive quarter of over 50 % constant - currency revenue growth Revenue growing at a multiple of the Korean e - commerce segment , reaching $ 18 billion run - rate . ¹ Adjusted gross profit growth excludes $ 158 million in inventory write - offs related to the FC Fire ( see below ) ; total gross profit growth was 50 % . SEOUL- ( BUSINESS WIRE ) August 11 , 2021 — Coupang , Inc. ( NYSE : CPNG ) today announced financial results for its second quarter ended June 30 , 2021 . Exhibit 99.1 Key Financial and Operational Highlights Total net revenues continued to grow at a multiple of the Korean e - commerce segment , growing 71 % on a reported basis , 57 % on a constant - currency basis , as our flywheel continues to propel strong growth across all our product offerings . Q2 marked the 15th consecutive quarter with over 50 % year over year growth on a constant - currency basis . ● ● Our top of the funnel continues to expand as total Active Customers increased 26 % year over year to 17 million and Revenue per Active Customer grew 36 % year over year . Gross Profit was $ 658 million in the second quarter , a growth of 50 % year over year . Excluding $ 158 million in inventory write offs related to the fire at the fulfillment center in Deokpyeong , Korea ( " FC Fire " ) , Gross Profit increased 86 % year over year to a record $ 816 million . In Q2 2021 , direct investments related to just two of our new initiatives our grocery offering , Rocket Fresh ( “ Fresh ” ) , and our food delivery offering , Coupang Eats ( “ Eats ” ) — accounted for almost the entire adjusted EBITDA loss , highlighting the profitability of our mature offerings . Fresh revenue grew over 100 % year over year exceeding $ 2 billion run - rate and the contribution margin improved by nearly a 1000 basis points over the last year . Eats revenue nearly tripled over just the past two quarters and the loss per order was down over 50 % year over year . Employee and Economy Highlights Small and medium - sized enterprises ( SMEs ) in our marketplace grew sales over 87 % year over year in Q2 compared to a 7 % decline for total SME offline sales in Korea . The Company is on track to be the # 1 private job creator for the second consecutive year , adding over 5,000 jobs in Korea in the first half of 2021. Close to 80 % of jobs were created in regions outside of Seoul . Coupang became the first Company in Korea to make frontline employees stockholders at scale , providing over 39,000 frontline workers with restricted stock unit awards . Since the beginning of 2020 we've added over 600 safety employees and invested over $ 200 million in worker safety initiatives . Coupang accounted for 43 % of all U.S. foreign direct investment into Korea in the first half of 2021 .