Free tools Windows power users keep installed
One-click scans. No signup required.
Coupang’s revenue kept growing in the second quarter of 2026, but at a slower reported rate than a year earlier. Net revenue was $8.856 billion, up 4% year over year in U.S. dollars; at constant currency, growth was 10%. That difference matters: exchange rates account for much of the gap, so the reported figure and the currency-adjusted figure tell different parts of the story.
Is Coupang’s revenue growth slowing?
Yes, on the reported year-over-year comparison. Coupang’s Q2 2026 reported revenue growth was 4%, versus 16% in Q2 2025. But the slowdown looks less pronounced after adjusting for currency: Q2 2026 constant-currency growth was 10%, compared with 19% a year earlier. Revenue is still increasing; the rate of increase depends on whether the comparison is in U.S. dollars or at constant exchange rates.
As an Amazon Associate I earn from qualifying purchases.
The first half of 2026 provides broader context: net revenue was $17.360 billion, up 6% reported and 9% at constant currency. These figures show positive growth across the periods reported, but do not establish how Coupang will perform in the second half of 2026.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
What the growth figures show
| Period | Net revenue | Reported year-over-year growth | Constant-currency growth |
|---|---|---|---|
| Q2 2025 | $8.5 billion | 16% | 19% (FX-neutral) |
| FY2025 | $34.5 billion | 14% | 18% (FX-neutral) |
| Q2 2026 | $8.856 billion | 4% | 10% |
| H1 2026 | $17.360 billion | 6% | 9% |
Figures are from Coupang’s published results: Q2 2026 earnings release, Q2 2026 Form 10-Q, FY2025 results, and Q2 2025 results. The supplied materials identify these sources but provide no distinct release URLs for the earnings releases; the company investor-relations news page is linked here.
#1 Best Overall
- Gift Cards are shipped active and ready for use.
- This card is non-reloadable. No cash or ATM access. Funds do not expire. If available funds remain on your card after the valid thru date has passed, please call customer service for a replacement card. A one-time purchase fee applies at the time of checkout. No fees after purchase.
- To access your card information safely, type the complete website address shown on your Gift Card (MyGift.GiftCardMall.com) directly into your browser's address bar. Don't use search engines or shortened versions of the website address, as these may lead you to fake or fraudulent sites. Do not provide any Gift Card details (example: Card Number) to someone you do not know or trust. If you believe you've reached an illegitimate website, contact cardholder service at 1-888-524-1283. Be cautious of phishing sites, there are a variety of scams in which fraudsters try to trick others into paying with gift cards.
- To report your Lost or Stolen Physical Visa Card, call Customer Service 24/7 at 1 (888) 524-1283 to cancel your Gift Card as soon as you can. You will be asked to provide the Gift Card number and other identifying information.
- Use your Visa Gift Card in the U.S. everywhere Visa debit cards are accepted, including online.
Why reported growth is below constant-currency growth
Coupang generates most of its revenue in Korean won but reports its results in U.S. dollars. When the won’s value changes against the dollar, translating revenue into dollars can make reported growth lower or higher than the underlying comparison at unchanged exchange rates.
For Q2 2026, Coupang’s Form 10-Q attributes a 7-percentage-point negative foreign-exchange effect to Product Commerce growth. The company defines constant-currency information as comparing periods “as if exchange rates had remained constant.” This is a company-defined non-GAAP measure, not a replacement for reported results. Read the two together: reported growth reflects the dollars Coupang recorded, while constant currency helps isolate performance from translation effects.
Rank #2
- Visa Virtual eGift Cards are designed for online use only. Gift Cards are subject to Terms and Conditions: a.co/5bw3qXJ
- When you access your Visa Virtual eGift Card for the first time, you’ll need to register your name, address, phone number, and email address via activationspot.com. These details should also be used as your billing address for online purchases, as many merchants require address verification for purchase authorization.
- This Visa Virtual eGift Card is non-reloadable. No cash or ATM access. Visa Virtual eGift Cards are emailed active.
- Funds do not expire but your Visa Virtual eGift Card has a ‘valid thru’ date (9 years from date of purchase). If funds remain after this date has passed, please call the Toll Free number found on your Visa Virtual eGift Card for a replacement card. A one-time purchase fee applies at the time of checkout.
- This item is not eligible for refund, resale, or return. Available for sale within the United States only. Not available to residents of Puerto Rico, Hawaii, New Mexico, South Dakota, West Virginia and the US Virgin Islands.
Which Coupang business is growing fastest?
Developing Offerings had the faster growth rate in Q2 2026, while Product Commerce remained much larger by revenue.
Outdated Drivers Are Slowing You Down
One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchWindows Errors? Fix Them Before They Spread
Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstall| Business segment | Q2 2026 revenue | Reported growth | Constant-currency growth | H1 2026 constant-currency growth |
|---|---|---|---|---|
| Product Commerce | $7.425 billion | 1% | 8% | 7% |
| Developing Offerings | $1.431 billion | 20% | 24% | 25% |
The faster rate at Developing Offerings comes from a smaller revenue base; it does not mean the segment has overtaken Product Commerce in scale. For Product Commerce, Coupang attributed growth to increased customer engagement and a 3% increase in active customers. Constant-currency revenue per Product Commerce active customer rose 5% in Q2. These are company-reported metrics and attributions.
Rank #3
- Get thousands of restaurants, convenience stores, pet stores, grocery stores, gifts, and more at your fingertips.
- Easy ordering, order customizations, and real-time tracking
- Pickup, group order, and scheduled delivery options available
- No returns and no refunds on gift cards.
How the customer data incident fits the trend
Coupang said a customer data incident beginning in November 2025 adversely affected Q4 revenue growth, active customers, WOW membership and profitability beginning in December. In its Q4 release, the company said the effects on growth had stabilized and were beginning to recover in Q1 2026. The Q2 2026 filing also attributed pressure on Product Commerce active-customer growth and cost of sales, among other factors, to incident effects.
The company’s Korean subsidiary announced approximately $1.2 billion in customer vouchers in December 2025. Coupang said redeemed vouchers were recorded as reductions to selling price and revenue, and that redemption concluded in mid-April 2026. These disclosures provide context for the reported results, but are the company’s explanations rather than independent estimates of the incident’s precise effect.
Rank #4
- Visa Virtual eGift Cards are designed for online use only. Gift Cards are subject to Terms and Conditions: a.co/5bw3qXJ
- When you access your Visa Virtual eGift Card for the first time, you’ll need to register your name, address, phone number, and email address via activationspot.com. These details should also be used as your billing address for online purchases, as many merchants require address verification for purchase authorization.
- This Visa Virtual eGift Card is non-reloadable. No cash or ATM access. Visa Virtual eGift Cards are emailed active.
- Funds do not expire but your Visa Virtual eGift Card has a ‘valid thru’ date (9 years from date of purchase). If funds remain after this date has passed, please call the Toll Free number found on your Visa Virtual eGift Card for a replacement card. A one-time purchase fee applies at the time of checkout.
- This item is not eligible for refund, resale, or return. Available for sale within the United States only. Not available to residents of Puerto Rico, Hawaii, New Mexico, South Dakota, West Virginia and the US Virgin Islands.
Revenue growth did not mean stronger profitability
Q2 2026 revenue increased, but several profitability and cash-flow measures were weaker year over year. Gross profit fell 3% as reported, although it rose 3% at constant currency. Adjusted EBITDA was $163 million, equal to a 1.8% margin and down 318 basis points year over year. Coupang also reported trailing-twelve-month operating cash flow of $1.4 billion and free cash flow of $105 million, both lower year over year.
Recommended Free Tools
Coupang disclosed approximately $410 million in certain Korean administrative fines in Q2 2026 and presented adjusted operating-loss information excluding those fines. That adjustment is relevant when interpreting operating results, but it does not change the revenue-growth figures above.
Best Value
- Gift Cards are shipped active and ready for use.
- This card is non-reloadable. No cash or ATM access. Funds do not expire. If available funds remain on your card after the valid thru date has passed, please call customer service for a replacement card. A one-time purchase fee applies at the time of checkout. No fees after purchase.
- To access your card information safely, type the complete website address shown on your Gift Card (MyGift.GiftCardMall.com) directly into your browser's address bar. Don't use search engines or shortened versions of the website address, as these may lead you to fake or fraudulent sites. Do not provide any Gift Card details (example: Card Number) to someone you do not know or trust. If you believe you've reached an illegitimate website, contact cardholder service at 1-888-524-1283. Be cautious of phishing sites, there are a variety of scams in which fraudsters try to trick others into paying with gift cards.
- To report your Lost or Stolen Physical Visa Card, call Customer Service 24/7 at 1 (888) 524-1283 to cancel your Gift Card as soon as you can. You will be asked to provide the Gift Card number and other identifying information.
- Use your Visa Gift Card in the U.S. everywhere Visa debit cards are accepted, including online.
What to watch in future results
- Reported and constant-currency growth: A narrowing or widening gap can change how much exchange rates contribute to the headline comparison.
- Product Commerce activity: Active customers, engagement and revenue per active customer help explain growth in Coupang’s larger segment.
- Developing Offerings’ scale: Its growth rate is higher, but its revenue base remains smaller than Product Commerce.
- Profitability alongside sales: Gross profit, adjusted EBITDA margin and cash flow show whether revenue growth is accompanied by stronger financial performance.
The next reported periods will determine whether the Q2 pattern continues; the available results do not establish a second-half growth rate or a formal company commitment to stable growth.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
