Wish Q2 2023 Earnings Report
Key Takeaways
Wish's Q2 2023 results reflect a challenging operating environment with a 42% year-over-year decrease in revenue. The company reported a net loss of $80 million and an adjusted EBITDA loss of $66 million. In response to macroeconomic uncertainties and competitive pressures, Wish is taking aggressive actions to lower its cost structure and improve operational efficiencies.
Revenues were $78 million, a decrease of 42% year-over-year.
Core Marketplace revenues were $24 million, down 56% year-over-year.
Net loss was $80 million, compared to a net loss of $90 million in the second quarter of 2022.
Free Cash Flow was negative $91 million, compared to negative $67 million in the second quarter of 2022.
Wish
Wish
Forward Guidance
Revenue is expected to be in the range of $55 million to $65 million. Adjusted EBITDA is expected to be a loss in the range of $55 million to $65 million.