Coupang, Inc. (NYSE:CPNG) Q2 2023 Results Conference Call August 8, 2023 5:30 PM ET

Company Participants

Mike Parker - Vice President of Investor Relations

Bom Kim - Founder and Chief Executive Officer

Gaurav Anand - Chief Financial Officer

Conference Call Participants

Stanley Yang - JP Morgan

Eric Cha - Goldman Sachs

John Yu - Citi

Seyon Park - Morgan Stanley

James Lee - Mizuho

Jiong Shao - Barclays

Operator

Hello, my name is Crissa and I'll be your conference operator today. At this time, I would like to welcome everyone to the Coupang 2023 Second Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Now, I'd like to turn the call over to Mike Parker, Vice President of Investor Relations. You may begin your conference.

Mike Parker

Thanks, operator. Welcome, everyone, to Coupang's second quarter 2023 earnings conference call. I'm pleased to be joined on the call today by our Founder and CEO, Bom Kim; and our CFO, Gaurav Anand.

The following discussion, including responses to your questions, reflects management's views as of today's date only. We do not undertake any obligation to update or revise this information, except as required by law.

Certain statements made on today's call include forward-looking statements. Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in today's press release and in our filings with the SEC, including our most recent annual report on Form 10-K and subsequent filings.

During today's call, we may present both GAAP and non-GAAP financial measures. Additional disclosures regarding these non-GAAP measures, including reconciliations of these measures to the most comparable GAAP measures, are included in our earnings release slides accompanying this webcast and our SEC filings, which are posted on the Company's Investor Relations website.

And now, I'll turn the call over to Bom.

Bom Kim

Thanks, everyone, for joining us today. Before Gaurav goes over our financial results in greater detail, I’d like to take a moment to frame our Q2 results under five key takeaways.

First, we continue to deliver expanding profitability and sustained high growth, not one at the expense of the other, because of our years of unparalleled investment and an unrelenting focus on both the Customer Experience and Operational excellence.

Second, our flywheel is accelerating, both revenue and active customers increased at a faster pace this quarter. It’s worth highlighting that the growth of Active Customers accelerated from 1% year-over-year in Q4 of last year to 5% in Q1 to 10% this quarter.