Coupang, Inc.

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 2025 Fourth Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number five on your telephone keypad. If you would like to withdraw your question, press star and the number five once again. Now I'd like to turn the call over to Mike Parker, Vice President of Investor Relations. You may begin your conference.

Thanks, Operator. Welcome, everyone, to Coupang's fourth quarter 2025 earnings conference call. I'm pleased to be joined in the call today by our founder and CEO, Bom Kim, our CFO, Gaurav Anand, and HL Rogers, our General Counsel and Chief Administrative Officer and the interim CEO of our Korean subsidiary. 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 may 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. As we share our fourth quarter 2025 results on today's call, the comparisons we make to prior periods will be on a year over year basis, unless otherwise noted. We may also present both GAAP and non-GAAP financial measures. Additional disclosures regarding these non-GAAP measures, including reconciliations of those 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 Baum.

Thanks everyone for joining us today. Before we discuss our fourth quarter results in detail, I want to address the data incident that we communicated late last year. Let me start with our customers. First, I want to apologize again for the concern and inconvenience this has caused. Everything we've built at Coupang has been driven by a single focus, wowing our customers. Our customers are the only reason we exist, and earning their trust is something we strive to do every single day. There is nothing more serious at Kupang than failing to live up to our customers' expectations. We know we have to do better, and we will. Now, I'd like to turn things over to HL Rogers, our General Counsel and the interim head of our Korean subsidiary, to provide an update on where things stand.