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Sep 30, 2023
Wish Q3 2023 Earnings Report
Reported financial results for Q3 2023 and initiated a process to explore strategic alternatives.
Key Takeaways
Wish's Q3 2023 revenues were $60 million, a 52% decrease year-over-year. The company narrowed its adjusted EBITDA loss to $54 million. The Board of Directors has initiated a process to explore strategic alternatives to maximize shareholder value.
Revenues were $60 million, a decrease of 52% year-over-year.
Core Marketplace revenues were $19 million, down 53% year-over-year.
Net loss was $80 million, compared to a net loss of $124 million in the third quarter of 2022.
Free Cash Flow was negative $86 million, compared to negative $100 million in the third quarter of 2022.
Wish
Wish
Forward Guidance
Revenue is expected to be in the range of $50 million to $60 million. Adjusted EBITDA is expected to be a loss in the range of $55 million to $65 million.