Coupang (CPNG) Q4 2025 Earnings Impacted by Data Incident Involving 33M Accounts

Coupang Inc. (NYSE:CPNG) is one of the most promising stocks under $20. On February 26, Coupang announced its Q4 2025 earnings, which were significantly impacted by a major data incident involving a former employee who illegally accessed 33 million user accounts. Although a forensic investigation by Mandiant and Palo Alto Networks confirmed that no sensitive financial data or passwords were compromised, the event triggered a visible slowdown in December.

Product Commerce revenue grew 12% on a constant currency basis, which was a decline from 18% in the previous quarter, as some customers deleted accounts or removed payment methods. To rebuild trust, Coupang issued ~$1.2 billion in customer compensation vouchers and has seen engagement trends begin to stabilize in early 2026. The company missed earnings expectations in Q4 with a reported loss of $0.01 per share due to increased investments and the data incident’s impact on working capital.

Total net revenue reached $8.8 billion, up 14% on a constant currency basis, while consolidated adjusted EBITDA fell 37% year-over-year to $267 million. Despite the domestic headwinds in Korea, Coupang’s Developing Offerings segment saw record revenues of $1.4 billion. Taiwan remains a standout success, achieving triple-digit revenue growth as the company rapidly scales its last-mile logistics network to cover 70% of the island’s geography. Looking toward 2026, Coupang Inc. (NYSE:CPNG) anticipates muted growth, forecasting Q1 revenue growth between 5% and 10%.

Coupang Inc. (NYSE:CPNG), together with its subsidiaries, owns & operates a retail business through its mobile applications and internet websites in South Korea and internationally. It operates through the Product Commerce and Developing Offerings segments.

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