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Jun 30, 2022
Wish Q2 2022 Earnings Report
Wish's financial performance declined due to macroeconomic factors and consumer spending habits.
Key Takeaways
Wish reported a significant decrease in revenue for Q2 2022, with an 80% year-over-year decline. Despite the revenue drop, the company managed to improve its net loss and adjusted EBITDA compared to the previous year.
Revenues decreased by 80% year-over-year to $134 million.
Core Marketplace revenues declined by 86% year-over-year to $54 million.
Net loss improved by 19% year-over-year to $90 million.
Free cash flow was negative $67 million, an improvement from negative $205 million in the second quarter of fiscal year 2021.
Wish
Wish
Forward Guidance
Wish expects Adjusted EBITDA to be a loss in the range of ($110) million to ($130) million for Q3 2022.