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Mar 31, 2024
Wish Q1 2024 Earnings Report
Reported financial results for the first quarter of 2024.
Key Takeaways
ContextLogic Inc. reported a decrease in revenue by 63% year-over-year, with a net loss of $59 million. The company completed the sale of substantially all of its assets to Qube Network Pte. Ltd. after the quarter ended.
Revenues were $36 million, a decrease of 63% YoY.
Core Marketplace revenues were $11 million, down 61% YoY.
Net Loss was $59 million, compared to a net loss of $89 million in the first quarter of fiscal 2023.
As of March 31, 2024, the company had $250 million in cash and cash equivalents.
Forward Guidance
Due to the sale of operating assets and liabilities in the Asset Sale, ContextLogic has discontinued providing guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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