Coupang, Inc. (NYSE:CPNG) Q1 2024 Earnings Conference Call May 7, 2024 5:30 PM ET

Company Participants

Mike Parker - VP of IR
Bom Kim - Founder and CEO
Gaurav Anand - CFO

Conference Call Participants

Eric Cha - Goldman Sachs
Stanley Yang - JP Morgan
Seyon Park - Morgan Stanley
Jiong Shao - Barclays
James Lee - Mizuho

Operator

Hello, everyone. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to the Coupang 2024 First 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 first quarter 2024 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, our 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 we dive in, here are five takeaways from a strong start to 2024. First, we continue to deliver results because we focus on what matters most, customer experience and operational excellence. Second, we're still single digit share of a massive retail opportunity in Korea and an even smaller share of Taiwan's. Third, newer services like Rocket Fresh and Fulfillment and Logistics by Coupang, or FLC, are gaining momentum. Offerings like these enable us to expand selection on Rocket exponentially for customers and provide critical support to suppliers, particularly small-and-medium enterprises or SMEs, by giving them access to our Rocket infrastructure and network.