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Jun 30, 2023
Wish Q2 2023 Earnings Report
Reported a challenging operating environment with revenue decline, while adjusted EBITDA was in line with expectations. The company is taking actions to lower cost structure and improve operational efficiencies.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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