SEATTLE- Fourth quarter results from Coupang, Inc. (pictured at Prosper 2026 in Las Vegas) showed total net revenues of $8.8 billion, up 11% year-over-year on a reported basis, and 14% year-over-year on a constant currency or FX-neutral basis. Product Commerce Segment Adjusted EBITDA was $567 million, up $28 million year-over-year. The Developing Offerings Segment yielded net revenues of $1.4 billion, up 32% YoY and 31% on a constant currency basis. Click Here for full report.
Walmart eCommerce Grows in 4Q
BENTONVILLE, AR – Fourth quarter results at Prosper exhibitor Walmart Inc. showed strong growth in revenue and adjusted operating income. Globally, eCommerce grew 24%. “The pace of change in retail is accelerating,” said John Furner, president and CEO via press release. “It’s exciting. And our financial results show that we’re not only embracing this change, we’re leading it. For our customers and members, the future is fast, convenient, and personalized.”
Shopify Hits 31% Revenue Growth
ONTARIO – Fourth quarter results at Canada-based Shopify showed revenue growth of 31% and a 19% free cash flow margin, marking ten consecutive quarters of double-digit free cash flow margins. “2025 was Shopify at full throttle – driving compounding growth, while laying the rails for the new era of AI commerce,” said Harley Finkelstein, president of Shopify via press release. “2026 will be the year of the builders, and we’ll be powering them – from first sale to full scale.”
“We closed Q4 with strong top-line growth and disciplined cash generation with revenue up 31% year-over-year and a 19% free cash flow margin,” said Jeff Hoffmeister, chief financial officer. “This brings 2025 to 30% revenue growth, 4 percentage points higher than 2024, and a 17% free cash flow margin. With AI reshaping how buyers discover and purchase, we delivered these strong margins while investing in Catalog, Sidekick, Universal Commerce Protocol, and our full platform of commerce solutions. We ended 2025 with strength across all merchant sizes, regions, and channels, setting us up well for 2026.”