Docoh
Loading...

CPNG Coupang

Coupang is one of the largest eCommerce companies in Asia, with a mission to revolutionize the everyday lives of its customers and create a world where people wonder, “How did we ever live without Coupang?” Coupang offers a variety of services, including same-day and next-morning delivery of groceries and general merchandise, delivery of prepared foods through Coupang Eats, and video streaming through Coupang Play. Founded in 2010, Coupang, which operates in Korea, has offices in Beijing, Los Angeles, Seattle, Seoul, Singapore, Shanghai, and Silicon Valley.

CPNG stock data

(
)

Calendar

16 Aug 21
17 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Coupang earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Cash on hand (at last report) 4.46B 4.46B 4.46B
Cash burn (monthly) 24.34M 172.83M (positive/no burn)
Cash used (since last report) 87.01M 617.91M n/a
Cash remaining 4.37B 3.84B n/a
Runway (months of cash) 179.7 22.2 n/a

Beta Read what these cash burn values mean

My notes
No notes yet
My annotations
No annotations yet

Community content

Community notes
No notes yet
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Oct 21 Thuan Pham Class A Common Stock Sell Dispose S No No 26.94 54,118 1.46M 2,920,390
5 Oct 21 Thuan Pham Class A Common Stock Sell Dispose S No No 26.6 65,805 1.75M 2,974,508
15 Sep 21 Greenoaks Capital Partners Class A Common Stock Other Dispose J Yes No 0 1,515,511 0 221,913,150
14 Sep 21 SVF Investments Class A Common Stock Sell Dispose S Yes No 29.685 57,000,000 1.69B 568,156,413
13 Sep 21 Benjamin Sun Class A Common Stock Other Dispose J Yes No 30.52 757,128 23.11M 3,941,562

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

78.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 262 191 +37.2%
Opened positions 110 189 -41.8%
Closed positions 39 0 NEW
Increased positions 71 0 NEW
Reduced positions 39 0 NEW
13F shares
Current Prev Q Change
Total value 51.12B 59.4B -13.9%
Total shares 1.22B 1.21B +0.4%
Total puts 4.04M 517.7K +680.3%
Total calls 7.7M 3.41M +126.0%
Total put/call ratio 0.5 0.2 +245.3%
Largest owners
Shares Value Change
SB Investment Advisers 568.16M $23.76B 0.0%
Greenoaks Capital Partners 280.9M $11.75B -0.0%
Maverick Capital 110.53M $4.51B 0.0%
TROW T. Rowe Price 39.23M $1.62B +17.5%
BLK Blackrock 38.27M $1.6B +0.1%
Baillie Gifford & Co 35.84M $1.5B +62.5%
Wellington Management 19.09M $783.6M 0.0%
MS Morgan Stanley 15.54M $650.06M -6.2%
Scge Management 14.29M $597.75M 0.0%
SCHF (gpe) 12.15M $508.14M 0.0%
Largest transactions
Shares Bought/sold Change
RITPF Rit Capital Partners 0 -16.28M EXIT
Baillie Gifford & Co 35.84M +13.79M +62.5%
TROW T. Rowe Price 39.23M +5.85M +17.5%
BAC Bank Of America 2.23M +2.23M +48046.6%
BEN Franklin Resources 1.17M -1.68M -58.8%
WFC Wells Fargo & Co. 80.07K -1.51M -95.0%
1832 Asset Management 0 -1.31M EXIT
Davis Selected Advisers 4.02M +1.17M +40.8%
MS Morgan Stanley 15.54M -1.03M -6.2%
CIBC Private Wealth 912.79K +912.79K NEW

Financial report summary

?
Risks
  • Investing in our Class A common stock involves a high degree of risk because our business is subject to numerous risks and uncertainties, as further described below. The occurrence of any such risks could adversely affect our business, financial condition, results of operations, and prospects. The principal factors and uncertainties that make investing in our Class A common stock speculative or risky include, among others:
  • Risks Related to Our Limited Operating History and Growth
  • We have a history of net losses, we anticipate increasing expenses in the future, and we may not be able to generate sufficient revenue to achieve or maintain profitability, which would materially and adversely affect our business, financial condition, and results of operations.
  • Our limited operating history and evolving business make it difficult to evaluate our future prospects, including our revenue growth rate, as well as the risks and challenges we may encounter.
  • We may experience significant fluctuations in our results of operations.
  • We may be unable to accurately forecast our revenue and plan our expenses in the future.
  • Risks Related to Our Business and Our Industry
  • If we fail to timely identify or effectively respond to changing customer preferences and spending patterns, fail to expand the products being purchased by customers, or fail or are unable to obtain or offer appropriate categories of products, our relationship with our customers could be negatively affected, the demand for our products and services could decrease, and our revenue and results of operations may decline.
  • If we are unable to successfully implement some or all of our major strategic initiatives in a timely manner, our ability to maintain and improve our market position may be adversely affected.
  • If we fail to effectively manage our growth, our business, financial condition, and results of operations could be harmed.
  • If we do not successfully operate and manage the expansion of our fulfillment and delivery infrastructure, our business, financial condition, and results of operations could be harmed.
  • We are dependent on the performance of certain members of management and other highly qualified and skilled personnel, and if we are unable to attract, retain, and motivate these and other well-qualified employees, our business could be harmed.
  • Our culture has been critical to our success and if we cannot maintain this culture as we grow, our business could be harmed.
  • Health epidemics, including the ongoing COVID-19 pandemic, have had, and could in the future have, an adverse impact on our business, operations, and the markets and communities in which we, our customers, suppliers, merchants, and advertisers operate.
  • Our expansion into new geographic markets and offerings and substantial increase in the number of our offerings may expose us to new and increased challenges and risks.
  • We operate in a highly competitive industry and we may be unsuccessful in competing against current and future competitors, which could have a negative impact on the success of our business.
  • Any harm to our brand or reputation may materially and adversely affect our business, financial condition, and results of operations.
  • We are subject to risks associated with sourcing and manufacturing goods from countries outside of Korea.
  • We operate in a rapidly changing industry and our business model is continuing to evolve, which makes it difficult to evaluate our business and prospects.
  • If we are unable to continue to innovate or if we fail to adapt to changes in our industry, our business, financial condition, and results of operations would be adversely affected.
  • If we fail to retain existing suppliers or merchants or to add new suppliers or merchants, or if our existing suppliers or merchants fail to supply high-quality and compliant merchandise in a timely manner, our business, financial condition, and results of operations will be adversely affected.
  • Efforts to increase advertising revenue may impact our sales or results of operations.
  • Inventory risks may adversely affect our results of operations.
  • The seasonality of our business affects our quarterly results and places an increased strain on our operations.
  • We may expand our operations into new geographic markets, which would present new challenges and which may prove unsuccessful and adversely affect our business.
  • Acquisitions, strategic investments, partnerships, or alliances could be difficult to identify, pose integration challenges, divert the attention of management, disrupt our business, dilute stockholder value, and adversely affect our business, financial condition, and results of operations.
  • Our business depends on the continued growth of online commerce and the increased acceptance of online transactions by potential customers.
  • If the mobile solutions available to our merchants and customers are not effective, the use of our apps, websites, and marketplaces could decline.
  • Failure to deal effectively with fraudulent activities on our apps or websites would increase our fraud losses and harm our business and could severely diminish merchant and customer confidence in and use of our services.
  • The nature of our food delivery services, including Coupang Eats and Rocket Fresh, could subject us to potential liability for foodborne illnesses experienced by our customers.
  • The nature of our delivery logistics, including those related to our own delivery services and our services that use independent delivery partners, exposes us to potential liability and expenses for legal claims that could adversely affect our business, financial condition, and results of operations.
  • We rely on Coupang Pay to conduct a substantial amount of the payment processing across our business. If Coupang Pay’s services were limited, restricted, curtailed, or degraded in any way, or become unavailable to us or our customers for any reason, our business may be adversely affected.
  • Increases in food, energy, labor, and other costs could adversely affect our results of operations.
  • We rely on our merchants to provide a fulfilling experience to our customers.
  • Failure by our suppliers or merchants to comply with product safety, intellectual property, or other laws may subject us to liability, damage our reputation and brand, and harm our business.
  • Changes to our customer satisfaction program could increase our expenses.
  • We are subject to payment-related risks, and if payment processors are unwilling or unable to provide us with payment processing services or impose onerous requirements on us in order to access their services, or if they increase the fees they charge us for these services, our business, financial condition, and results of operations could be adversely affected.
  • Government regulation of the Internet, e-commerce, and mobile commerce is evolving, and unfavorable changes or failure by us to comply with these regulations could adversely affect our business, financial condition, and results of operations.
  • Any failure to protect our apps, websites, networks, and systems against security breaches or otherwise protect our confidential information could damage our reputation and brand and adversely affect our business, financial condition, and results of operations.
  • Our business depends on network and mobile infrastructure, third-party data center hosting facilities, other third-party providers, and our ability to maintain and scale our technology. Any significant interruptions or delays in service on our apps or websites or any undetected errors or design faults could result in limited capacity, reduced demand, processing delays, and loss of customers, suppliers, or merchants.
  • We are subject to claims, litigation, governmental audits, inspections, investigations, and various legal proceedings, and face potential liability, expenses for legal claims, and harm to our business.
  • Our business could be disrupted by catastrophic occurrences and similar events.
  • We may require additional capital to support the growth of our business, and this capital might not be available on acceptable terms, if at all.
  • Restrictions in our new revolving credit facility could adversely affect our operating flexibility.
  • We have identified certain material weaknesses in our internal control over financial reporting, and if our remediation of such material weaknesses is not effective, or if we experience additional material weaknesses or otherwise fail to design and maintain effective internal control over financial reporting, our ability to timely and accurately report our financial condition and results of operations in compliance with reporting requirements applicable for public companies in the United States could be impaired, which may adversely affect investor confidence in us and, as a result, the value of our Class A common stock.
  • As a public reporting company, we are subject to rules and regulations established from time to time by the SEC and the NYSE regarding our internal control over financial reporting. We may not complete needed improvements to our internal control over financial reporting in a timely manner, or these internal controls may not be determined to be effective, which may adversely affect investor confidence in us and, as a result, the price per share of our Class A common stock could decline.
  • The requirements of being a public company may strain our resources, divert management’s attention, and affect our ability to attract and retain executive management and qualified board members.
  • If our estimates or judgments relating to our critical accounting policies prove to be incorrect, our results of operations could be adversely affected.
  • Failure to comply with anti-corruption and anti-money laundering laws, including the FCPA and similar laws, could subject us to penalties and other adverse consequences.
  • We are subject to governmental economic and trade sanctions laws and regulations and violations of such laws could subject us to liabilities, penalties, and other potential consequences.
  • A failure to comply with current laws, rules and regulations or changes to such laws, rules, and regulations and other legal uncertainties may adversely affect our business, financial performance, results of operations, or business growth.
  • Our results of operations and financial condition may be adversely affected by governmental regulation and associated environmental and regulatory costs.
  • Risks Related to Labor and Employment
  • If we are unable to recruit, train, and retain qualified personnel or sufficient workforce while controlling our labor costs, our business may be materially and adversely affected.
  • We are subject to fair trade, labor, employment, and workplace health and safety laws and regulations in Korea and other jurisdictions, which continue to evolve and have and will continue to affect some of our operations and our financial performance.
  • Union activities could affect our business.
  • Our business could be adversely affected from an accident, safety incident, or workforce disruption.
  • Risks Related to Doing Business in Korea
  • There are special risks involved with investing in Korean companies, including the possibility of restrictions being imposed by the Korean government in emergency circumstances, accounting and corporate disclosure standards that differ from those in other jurisdictions, and the risk of direct or vicarious criminal liability for executive officers of our Korean affiliates.
  • Coupang Corp.’s transactions with its subsidiaries and affiliates may be restricted under Korean fair trade regulations.
  • As of May 1, 2021, our Korean subsidiary, Coupang Corp., and a group of companies affiliated with it have been designated an affiliated group under Korean law, which would require that group of companies to make certain disclosures and implement additional corporate governance requirements.
  • Coupang Corp. is subject to certain requirements and restrictions under Korean law that may, in certain circumstances, require it to act in a manner that may not be in our or our stockholders’ best interest.
  • Coupang Corp.’s transactions with related parties are subject to close scrutiny by the Korean tax authorities, which may result in adverse tax consequences.
  • A focus on regulating copyright and patent infringement by the Korean government subjects us to extra scrutiny in our operations and could subject us to sanctions, fines, or other penalties, which could adversely affect our business and operations in Korea.
  • Our business may be adversely affected by developments that negatively impact the Korean economy and uncertainties in economic conditions that impact spending patterns of our customers in Korea.
  • Fluctuations in exchange rates could result in foreign currency exchange losses to us.
  • Tensions with North Korea could have an adverse effect on our business, financial condition, results of operations, and the price per share of our Class A common stock.
  • New legislative proposals may expose our business to additional risks from litigation, regulation, and government investigations.
  • As Coupang Corp. is incorporated in Korea, it may be more difficult to enforce judgments obtained in courts outside Korea.
  • Risks Related to Intellectual Property
  • We may not be able to adequately protect our intellectual property rights.
  • We may be accused of infringing intellectual property rights of third parties.
  • Some of our software and systems contain open source software, which may pose particular risks to our proprietary software and solutions.
  • Changes in the tax treatment of companies engaged in e-commerce may adversely affect the commercial use of our apps and websites and our financial results.
  • Because of our organizational structure, we may be subject to U.S. federal income tax on our non-U.S. income as well as non-U.S. withholding taxes on distributions from non-U.S. affiliates.
  • Future changes to tax laws could materially and adversely affect us and reduce net returns to our stockholders.
  • We may experience fluctuations in our tax obligations and effective tax rate, which could materially and adversely affect our results of operations.
  • Our Korean and U.S. affiliates’ ability to use net operating loss carryforwards may be limited.
  • Our international operations may subject us to greater than anticipated tax liabilities.
  • Risks Related to Ownership of Our Class A Common Stock
  • The dual class structure of our common stock has the effect of concentrating voting control with Bom Suk Kim, who beneficially holds all of our Class B common stock representing in the aggregate 76.5% of the voting power of our capital stock.
  • We cannot predict the effect our dual class structure may have on the price per share of our Class A common stock.
  • The market price of shares of our Class A common stock may be volatile, which could cause the value of your investment to decline.
  • An active public market for our Class A common stock may not be sustained, and you may not be able to resell your shares of Class A common stock.
  • Future sales of our Class A common stock in the public market could cause the price per share of our Class A common stock to decline.
  • Our business and financial performance may differ from any projections that we disclose or any information that may be attributed to us by third parties.
  • If securities or industry analysts do not publish research or reports about our business, or if they change their recommendations regarding our stock adversely, our stock price and trading volume could decline.
  • We do not intend to pay dividends for the foreseeable future.
  • Our certificate of incorporation designates the Court of Chancery of the State of Delaware and, to the extent enforceable, the federal district courts of the United States as the exclusive forums for certain disputes between us and our stockholders, which will restrict our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers, or employees.
  • Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good

Proxies

No filings