As of the latest data point for Q4'25, Coupang ( CPNG ) reported a net income of -26M USD, reflecting a year-over-year decline of -116.67%. This marks a significant reversal from the previous quarter, where net income was 95M USD in Q3'25. Analyzing the trend from Q1'23 to Q4'25, Coupang's net income has shown considerable volatility, with notable peaks such as 1.03B USD in Q4'23 and sharp declines including negative figures in Q2'24 and Q4'25. The YoY growth rate has also fluctuated dramatically, with highs like 9.12% in Q4'23 and 20.4% in Q1'25, but also steep contractions, particularly in 2024 and Q4'25. Overall, the data indicates an unstable earnings trajectory with periods of strong growth followed by abrupt downturns, highlighting ongoing challenges in maintaining consistent profitability.