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Mar 31, 2021
Wish Q1 2021 Earnings Report
Revenue increased and exceeded expectations, with core marketplace and ProductBoost revenue showing growth. The company improved Adjusted EBITDA margin.
Key Takeaways
Wish reported strong Q1 2021 results with revenue growth accelerating to 75% year over year. The company saw momentum build for newer initiatives, including Wish Local expansion, and efforts to diversify product selection.
Revenue grew 75% year over year, an acceleration from Q4 2020.
Core Marketplace revenue per active buyer increased 76% year over year
ProductBoost revenue returned to year over year growth
Adjusted EBITDA margin improved on both a sequential and year over year basis.
Wish
Wish
Forward Guidance
For the second quarter of 2021, Wish expects revenue between $715 million and $730 million, representing a growth of 2% to 4% year-over-year. Adjusted EBITDA is expected to be between $(60) million and $(55) million, representing (8)% to (7)% of revenue.