Wish Q3 2022 Earnings Report
Key Takeaways
Wish reported a significant decrease in revenue, with a 66% year-over-year decline, totaling $125 million for Q3 2022. The company experienced a net loss of $124 million, and the adjusted EBITDA was a loss of $95 million. Despite these challenges, Wish saw positive operational results, including an increase in order volume and improvements in refund rates and on-time delivery.
Total revenue decreased by 66% year-over-year to $125 million.
Core Marketplace revenue declined by 78% year-over-year to $40 million.
Net loss amounted to $124 million, compared to a $64 million loss in the same quarter of the previous year.
Free cash flow was negative $100 million, an improvement from negative $344 million in the third quarter of fiscal 2021.
Wish
Wish
Forward Guidance
Wish expects Adjusted EBITDA to be a loss in the range of $90 million to $110 million for the fourth quarter of fiscal year 2022.