$LOGC
Contextlogic Inc

2022 Q4 Form 10-Q Financial Statement

#000095017022023886 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $123.0M $125.0M $289.0M
YoY Change -57.44% -66.03% -63.6%
Cost Of Revenue $97.00M $91.00M $169.0M
YoY Change -42.6% -54.73% -50.58%
Gross Profit $26.00M $34.00M $120.0M
YoY Change -78.33% -79.64% -73.45%
Gross Profit Margin 21.14% 27.2% 41.52%
Selling, General & Admin $108.0M $120.0M $133.0M
YoY Change -18.8% -31.82% -83.64%
% of Gross Profit 415.38% 352.94% 110.83%
Research & Development $40.00M $42.00M $51.00M
YoY Change -21.57% -22.22% -66.0%
% of Gross Profit 153.85% 123.53% 42.5%
Depreciation & Amortization $1.000M $1.000M $2.000M
YoY Change -50.0% -50.0% -33.33%
% of Gross Profit 3.85% 2.94% 1.67%
Operating Expenses $148.0M $162.0M $184.0M
YoY Change -19.57% -29.57% -80.89%
Operating Profit -$122.0M -$128.0M -$64.00M
YoY Change 90.63% 103.17% -87.48%
Interest Expense $5.000M $6.000M $5.000M
YoY Change 0.0% 100.0% -350.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$112.0M -$122.0M -$59.00M
YoY Change 89.83% 103.33% -89.61%
Income Tax -$2.000M $2.000M -$1.000M
% Of Pretax Income
Net Earnings -$110.0M -$124.0M -$58.00M
YoY Change 89.66% 93.75% -89.81%
Net Earnings / Revenue -89.43% -99.2% -20.07%
Basic Earnings Per Share -$0.18
Diluted Earnings Per Share -$0.16 -$0.18 -$89.64K
COMMON SHARES
Basic Shares Outstanding 677.0M 673.0M
Diluted Shares Outstanding 673.0M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $719.0M $837.0M $1.159B
YoY Change -37.96% -31.11% -45.56%
Cash & Equivalents $506.0M $587.0M $1.009B
Short-Term Investments $213.0M $250.0M $150.0M
Other Short-Term Assets $44.00M $40.00M $48.00M
YoY Change -8.33% -45.21% -52.94%
Inventory
Prepaid Expenses
Receivables $14.00M $13.00M $17.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $777.0M $890.0M $1.224B
YoY Change -36.52% -32.32% -47.1%
LONG-TERM ASSETS
Property, Plant & Equipment $9.000M $11.00M $17.00M
YoY Change -47.06% -70.27% -32.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $17.00M
YoY Change -100.0% -100.0% 325.0%
Other Assets $4.000M $3.000M $7.000M
YoY Change -42.86% -50.0% -36.36%
Total Long-Term Assets $22.00M $21.00M $59.00M
YoY Change -62.71% -58.0% -28.92%
TOTAL ASSETS
Total Short-Term Assets $777.0M $890.0M $1.224B
Total Long-Term Assets $22.00M $21.00M $59.00M
Total Assets $799.0M $911.0M $1.283B
YoY Change -37.72% -33.26% -46.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.00M $56.00M $67.00M
YoY Change -20.9% -80.42% -84.56%
Accrued Expenses $130.0M $143.0M $174.0M
YoY Change -25.29% -31.58% -52.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.306M $3.295M
YoY Change 0.46% 72.51%
Total Short-Term Liabilities $309.0M $326.0M $449.0M
YoY Change -31.18% -37.07% -66.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.00M $11.00M $16.00M
YoY Change -18.75% -38.89% -57.89%
Total Long-Term Liabilities $13.00M $11.00M $16.00M
YoY Change -18.75% -38.89% -57.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $309.0M $326.0M $449.0M
Total Long-Term Liabilities $13.00M $11.00M $16.00M
Total Liabilities $322.0M $337.0M $465.0M
YoY Change -30.75% -37.13% -66.06%
SHAREHOLDERS EQUITY
Retained Earnings -$2.929B -$2.819B -$2.545B
YoY Change 15.09% 16.53%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $477.0M $574.0M $818.0M
YoY Change
Total Liabilities & Shareholders Equity $799.0M $911.0M $1.283B
YoY Change -37.72% -33.26% -46.47%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$110.0M -$124.0M -$58.00M
YoY Change 89.66% 93.75% -89.81%
Depreciation, Depletion And Amortization $1.000M $1.000M $2.000M
YoY Change -50.0% -50.0% -33.33%
Cash From Operating Activities -$109.0M -$100.0M -$49.00M
YoY Change 122.45% -70.93% 104.17%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$1.000M
YoY Change -100.0% -100.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities $38.00M $6.000M -$18.00M
YoY Change -311.11% -68.42% -120.22%
Cash From Investing Activities $38.00M $6.000M -$19.00M
YoY Change -300.0% -66.67% -121.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.00M -5.000M 7.000M
YoY Change -285.71% -99.33%
NET CHANGE
Cash From Operating Activities -109.0M -100.0M -49.00M
Cash From Investing Activities 38.00M 6.000M -19.00M
Cash From Financing Activities -13.00M -5.000M 7.000M
Net Change In Cash -84.00M -99.00M -61.00M
YoY Change 37.7% -69.63% -105.49%
FREE CASH FLOW
Cash From Operating Activities -$109.0M -$100.0M -$49.00M
Capital Expenditures $0.00 $0.00 -$1.000M
Free Cash Flow -$109.0M -$100.0M -$48.00M
YoY Change 127.08% -70.85% 108.7%

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SharesWithheldRelatedToNetShareSettlementValue
-10000000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1000000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
53000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-14000000
us-gaap Net Income Loss
NetIncomeLoss
-274000000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
574000000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
862000000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
30000000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1000000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-64000000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
829000000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
1027000000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3000000
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
-5000000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3000000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
104000000
us-gaap Net Income Loss
NetIncomeLoss
-303000000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
829000000
us-gaap Net Income Loss
NetIncomeLoss
-274000000
us-gaap Net Income Loss
NetIncomeLoss
-303000000
us-gaap Inventory Write Down
InventoryWriteDown
3000000
us-gaap Inventory Write Down
InventoryWriteDown
12000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7000000
wish Noncash Lease Expense
NoncashLeaseExpense
5000000
wish Noncash Lease Expense
NoncashLeaseExpense
10000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
11000000
us-gaap Share Based Compensation
ShareBasedCompensation
53000000
us-gaap Share Based Compensation
ShareBasedCompensation
104000000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-3000000
wish Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-11000000
wish Increase Decrease In Merchants Payable
IncreaseDecreaseInMerchantsPayable
-64000000
wish Increase Decrease In Merchants Payable
IncreaseDecreaseInMerchantsPayable
-238000000
wish Increase Decrease In Accrued And Refund Liabilities
IncreaseDecreaseInAccruedAndRefundLiabilities
-36000000
wish Increase Decrease In Accrued And Refund Liabilities
IncreaseDecreaseInAccruedAndRefundLiabilities
-181000000
wish Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-6000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-3000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-24000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-313000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-902000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
303000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
235000000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
50000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
218000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
202000000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-85000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
16000000
wish Proceeds From Sales Of Shares Through Employee Equity Incentive Plans
ProceedsFromSalesOfSharesThroughEmployeeEquityIncentivePlans
1000000
wish Proceeds From Sales Of Shares Through Employee Equity Incentive Plans
ProceedsFromSalesOfSharesThroughEmployeeEquityIncentivePlans
6000000
wish Payment Of Taxes Related To Rsu Settlement
PaymentOfTaxesRelatedToRSUSettlement
10000000
wish Payment Of Taxes Related To Rsu Settlement
PaymentOfTaxesRelatedToRSUSettlement
5000000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-9000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-17000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-424000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-886000000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1018000000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1965000000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
594000000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1079000000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
587000000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1072000000
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
7000000
CY2021Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
7000000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
594000000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1079000000
us-gaap Income Taxes Paid
IncomeTaxesPaid
6000000
us-gaap Income Taxes Paid
IncomeTaxesPaid
4000000
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. These estimates form the basis for judgments the Company makes about the carrying values of its assets and liabilities that are not readily available from other sources. These estimates include, but are not limited to, fair value of financial instruments, useful lives of long-lived assets, fair value of derivative instruments, incremental borrowing rate applied to lease accounting, contingent liabilities, redemption probabilities associated with Wish Cash, allowances for refunds and chargebacks and uncertain tax positions. As of September 30, 2022, the effects of the ongoing COVID-19 pandemic on the Company’s business, results of operations, and financial condition continue to evolve. As a result, many of the Company’s estimates and assumptions required increased judgment and these estimates may change materially in future periods.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Concentrations of Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Credit Risk </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">— Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, funds receivable and marketable securities. The Company’s cash and cash equivalents are held on deposit with creditworthy institutions. Although the Company’s deposits exceed federally insured limits, the Company has not experienced any losses in such accounts. The Company invests its excess cash in money market accounts, U.S. Treasury notes, U.S. Treasury bills, commercial paper, corporate bonds, and non-U.S. government securities. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash, cash equivalents and marketable securities for the amounts reflected on the condensed consolidated balance sheets. The Company’s investment policy limits investments to certain types of debt securities issued by the U.S. government, its agencies and institutions with investment-grade credit ratings and places restrictions on maturities and concentration by type and issuer.</span></p><p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The Company maintains certain bank accounts in China. The Company manages the counterparty risk associated with these funds through diversification with major financial institutions and monitors the concentration of this credit risk on a monthly basis. The total cash balance in these accounts represented approximately </span><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">19</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">% and </span><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">15</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">% of the Company’s total cash and cash equivalents as of September 30, 2022 and December 31, 2021, respectively.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:9.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The Company's derivative financial instruments expose it to credit risk to the extent that the counterparties may be unable to meet the terms of the arrangement. The Company seeks to mitigate such risk by limiting its counterparties to, and by spreading the risk across, major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored on a monthly basis. The Company is not required to pledge, nor is it entitled to receive, collateral related to its foreign exchange derivative transactions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The Company is exposed to credit risk in the event of a default by its Payment Service Providers (“PSPs”). The Company does not generate revenue from PSPs. Significant changes in the Company’s relationship with its PSPs could adversely affect users’ ability to process transactions on the Company’s marketplaces, thereby impacting the Company’s operating results.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><div style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;"><p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The following PSPs each represented 10% or more of the Company’s funds receivable balance:</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span> </p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:63.942%;"/> <td style="width:0.974%;"/> <td style="width:1.0%;"/> <td style="width:15.551%;"/> <td style="width:1.0%;"/> <td style="width:1.122%;"/> <td style="width:1.0%;"/> <td style="width:14.409%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">September 30,</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">December 31,</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">2022</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">2021</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">PSP 1</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">53</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">%</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">62</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">%</span></p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">PSP 2</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">38</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">%</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">32</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">%</span></p></td> </tr> </table></div><p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Services Risk </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">— The Company serves all its users using third-party data center and hosting providers. The Company has disaster recovery protocols at the third-party service providers. Even with these procedures for disaster recovery in place, access to the Company’s service could be significantly interrupted, resulting in an adverse effect on its operating results and financial position. No significant interruptions of service were known to have occurred during the three and nine months ended September 30, 2022 and 2021.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p>
wish Percentage Of Concentrations Of Risk Cash And Cash Equivalents
PercentageOfConcentrationsOfRiskCashAndCashEquivalents
0.19
CY2021 wish Percentage Of Concentrations Of Risk Cash And Cash Equivalents
PercentageOfConcentrationsOfRiskCashAndCashEquivalents
0.15
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
125000000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
368000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
448000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1796000000
CY2022Q3 wish Accrued Logistics Costs Current
AccruedLogisticsCostsCurrent
39000000
CY2021Q4 wish Accrued Logistics Costs Current
AccruedLogisticsCostsCurrent
56000000
CY2022Q3 wish Deferred Revenue And Customer Deposits Current
DeferredRevenueAndCustomerDepositsCurrent
19000000
CY2021Q4 wish Deferred Revenue And Customer Deposits Current
DeferredRevenueAndCustomerDepositsCurrent
25000000
CY2022Q3 wish Accrued Wish Cash Liability Current
AccruedWishCashLiabilityCurrent
15000000
CY2021Q4 wish Accrued Wish Cash Liability Current
AccruedWishCashLiabilityCurrent
20000000
CY2022Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
16000000
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
26000000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
54000000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
47000000
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
143000000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
174000000
CY2022Q3 wish Increase Decrease In Logistics Costs
IncreaseDecreaseInLogisticsCosts
-17000000
CY2022Q3 wish Percentage Of Decrease In Logistics Costs Due To Lower Shipping Volumes
PercentageOfDecreaseInLogisticsCostsDueToLowerShippingVolumes
0.30
CY2022Q3 wish Increase Decrease In Deferred Revenue And Customer Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerDeposits
-6000000
CY2022Q3 wish Percentage Of Decrease In Deferred Revenue And Customer Deposits Due To Lower Logistics Volumes
PercentageOfDecreaseInDeferredRevenueAndCustomerDepositsDueToLowerLogisticsVolumes
0.24
CY2022Q3 wish Unredeemable Cash Balances In Core Marketplace Revenue
UnredeemableCashBalancesInCoreMarketplaceRevenue
2000000
CY2021Q4 wish Unredeemable Cash Balances In Core Marketplace Revenue
UnredeemableCashBalancesInCoreMarketplaceRevenue
3000000
CY2022Q3 wish Increase Decrease In Sales And Indirect Taxes
IncreaseDecreaseInSalesAndIndirectTaxes
-10000000
CY2022Q3 wish Percentage Of Decrease In Sales And Indirect Taxes Due To Less Taxes Collected In Connection With Lower Order Volumes
PercentageOfDecreaseInSalesAndIndirectTaxesDueToLessTaxesCollectedInConnectionWithLowerOrderVolumes
0.38
CY2022Q3 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
179000000
CY2021Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
374000000
us-gaap Operating Lease Payments
OperatingLeasePayments
10000000
CY2022Q3 us-gaap Derivative Assets
DerivativeAssets
3000000
CY2022Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
8000000
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
4000000
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1000000
CY2021Q4 wish Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
2000000
CY2020Q4 wish Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
2000000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-8000000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
22000000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-4000000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
22000000
CY2022Q3 wish Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
-2000000
CY2021Q4 wish Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
2000000
CY2022Q3 us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
0
us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
0
CY2021Q3 us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
0
us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
0
CY2022Q3 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
4000000
us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
8000000
CY2021Q3 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
2000000
us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
13000000
wish Lessee Operating Lease Expiration Date Year
LesseeOperatingLeaseExpirationDateYear
2025
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
2000000
us-gaap Operating Lease Cost
OperatingLeaseCost
6000000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3000000
us-gaap Operating Lease Cost
OperatingLeaseCost
10000000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7000000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18000000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7000000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9000000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11000000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16000000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2000000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7000000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7000000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3000000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19000000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1000000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
18000000
wish Number Of Putative Class Action Lawsuits
NumberOfPutativeClassActionLawsuits
4
wish Loss Contingency Number Of Cases Dismissed By Plaintiff
LossContingencyNumberOfCasesDismissedByPlaintiff
1
wish Loss Contingency Number Of Cases Coordinated And Consolidated
LossContingencyNumberOfCasesCoordinatedAndConsolidated
3
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
45000000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.254
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
8000000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.398
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1000000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.149
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
4000000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.926
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
48000000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.403
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P0Y6M
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
32000000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M4D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0228
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7553
CY2022Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
26
CY2021Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
30
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
53
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
104
wish Increase Decrease In Stock Based Compensation Expenses
IncreaseDecreaseInStockBasedCompensationExpenses
51000000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11000000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-124000000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-64000000
us-gaap Net Income Loss
NetIncomeLoss
-274000000
us-gaap Net Income Loss
NetIncomeLoss
-303000000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
673000000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
673000000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
628000000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
628000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
667000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
667000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
623000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
623000000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
118000000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
114000000
CY2022Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.15
CY2022Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
190
CY2022Q3 wish Impairments Of Lease Assets And Property And Equipment
ImpairmentsOfLeaseAssetsAndPropertyAndEquipment
5000000
us-gaap Severance Costs1
SeveranceCosts1
3000000
wish Impairments Of Lease Assets And Property And Equipment
ImpairmentsOfLeaseAssetsAndPropertyAndEquipment
11000000

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0000950170-22-023886-index.html Edgar Link pending
0000950170-22-023886.txt Edgar Link pending
0000950170-22-023886-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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wish-20220930.htm Edgar Link pending
wish-20220930.xsd Edgar Link pending
wish-ex10_1.htm Edgar Link pending
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wish-20220930_def.xml Edgar Link unprocessable
wish-20220930_lab.xml Edgar Link unprocessable
wish-20220930_pre.xml Edgar Link unprocessable
wish-20220930_htm.xml Edgar Link completed