$LOGC
ContextLogic Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023038022 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $60.00M $78.00M $134.0M
YoY Change -52.0% -41.79% -79.57%
Cost Of Revenue $46.00M $62.00M $92.00M
YoY Change -49.45% -32.61% -66.18%
Gross Profit $14.00M $16.00M $42.00M
YoY Change -58.82% -61.9% -89.06%
Gross Profit Margin 23.33% 20.51% 31.34%
Selling, General & Admin $56.00M $60.00M $85.00M
YoY Change -53.33% -29.41% -80.94%
% of Gross Profit 400.0% 375.0% 202.38%
Research & Development $38.00M $38.00M $46.00M
YoY Change -9.52% -17.39% -11.54%
% of Gross Profit 271.43% 237.5% 109.52%
Depreciation & Amortization $1.000M $1.000M $2.000M
YoY Change 0.0% -50.0% -33.33%
% of Gross Profit 7.14% 6.25% 4.76%
Operating Expenses $94.00M $98.00M $131.0M
YoY Change -41.98% -25.19% -73.69%
Operating Profit -$80.00M -$82.00M -$89.00M
YoY Change -37.5% -7.87% -21.93%
Interest Expense $3.000M $6.000M $2.000M
YoY Change -50.0% 200.0% -75.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$77.00M -$77.00M -$89.00M
YoY Change -36.89% -13.48% -16.04%
Income Tax $3.000M $3.000M $1.000M
% Of Pretax Income
Net Earnings -$80.00M -$80.00M -$90.00M
YoY Change -35.48% -11.11% -18.92%
Net Earnings / Revenue -133.33% -102.56% -67.16%
Basic Earnings Per Share -$3.35 -$3.38 -$4.05
Diluted Earnings Per Share -$3.35 -$3.38 -$134.9K
COMMON SHARES
Basic Shares Outstanding 23.78M 23.56M 22.24M
Diluted Shares Outstanding 23.90M 23.65M 22.24M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $445.0M $531.0M $947.0M
YoY Change -46.83% -43.93% -39.8%
Cash & Equivalents $303.0M $318.0M $693.0M
Short-Term Investments $142.0M $213.0M $254.0M
Other Short-Term Assets $27.00M $30.00M $41.00M
YoY Change -32.5% -26.83% -42.25%
Inventory
Prepaid Expenses
Receivables $6.000M $4.000M $12.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $478.0M $565.0M $1.000B
YoY Change -46.29% -43.5% -40.83%
LONG-TERM ASSETS
Property, Plant & Equipment $4.000M $15.00M $24.00M
YoY Change -63.64% -37.5% 26.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $4.000M $4.000M $4.000M
YoY Change 33.33% 0.0% -60.0%
Total Long-Term Assets $14.00M $19.00M $28.00M
YoY Change -33.33% -32.14% -54.1%
TOTAL ASSETS
Total Short-Term Assets $478.0M $565.0M $1.000B
Total Long-Term Assets $14.00M $19.00M $28.00M
Total Assets $492.0M $584.0M $1.028B
YoY Change -45.99% -43.19% -41.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.00M $123.0M $187.0M
YoY Change -37.5% -34.22% -26.67%
Accrued Expenses $95.00M $110.0M $119.0M
YoY Change -33.57% -7.56% -52.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.302M
YoY Change 0.43%
Total Short-Term Liabilities $209.0M $236.0M $333.0M
YoY Change -35.89% -29.13% -61.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.000M $11.00M $13.00M
YoY Change -63.64% -15.38% -58.06%
Total Long-Term Liabilities $4.000M $11.00M $13.00M
YoY Change -63.64% -15.38% -58.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $209.0M $236.0M $333.0M
Total Long-Term Liabilities $4.000M $11.00M $13.00M
Total Liabilities $220.0M $247.0M $346.0M
YoY Change -34.72% -28.61% -61.08%
SHAREHOLDERS EQUITY
Retained Earnings -$3.178B -$3.098B
YoY Change 12.74%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $272.0M $337.0M $682.0M
YoY Change
Total Liabilities & Shareholders Equity $492.0M $584.0M $1.028B
YoY Change -45.99% -43.19% -41.29%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$80.00M -$80.00M -$90.00M
YoY Change -35.48% -11.11% -18.92%
Depreciation, Depletion And Amortization $1.000M $1.000M $2.000M
YoY Change 0.0% -50.0% -33.33%
Cash From Operating Activities -$86.00M -$88.00M -$67.00M
YoY Change -14.0% 31.34% -67.16%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $3.000M $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $72.00M $46.00M $14.00M
YoY Change 1100.0% 228.57% -187.5%
Cash From Investing Activities $72.00M $43.00M $14.00M
YoY Change 1100.0% 207.14% -187.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.000M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.000M -1.000M -4.000M
YoY Change -80.0% -75.0% -180.0%
NET CHANGE
Cash From Operating Activities -86.00M -88.00M -67.00M
Cash From Investing Activities 72.00M 43.00M 14.00M
Cash From Financing Activities -1.000M -1.000M -4.000M
Net Change In Cash -15.00M -46.00M -57.00M
YoY Change -84.85% -19.3% -73.49%
FREE CASH FLOW
Cash From Operating Activities -$86.00M -$88.00M -$67.00M
Capital Expenditures $0.00 $3.000M $0.00
Free Cash Flow -$86.00M -$91.00M -$67.00M
YoY Change -14.0% 35.82% -67.19%

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CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8000000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-80000000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
337000000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
477000000
wish Shares Withheld Related To Net Share Settlement Value
SharesWithheldRelatedToNetShareSettlementValue
-4000000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
41000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
170000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
226000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
176000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
137000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-91000000
wish Proceeds From Sales Of Shares Through Employee Equity Incentive Plans
ProceedsFromSalesOfSharesThroughEmployeeEquityIncentivePlans
1000000
us-gaap Net Income Loss
NetIncomeLoss
-169000000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
337000000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
755000000
CY2022Q2 wish Shares Withheld Related To Net Share Settlement Value
SharesWithheldRelatedToNetShareSettlementValue
-5000000
CY2022Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1000000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
29000000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8000000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-90000000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
682000000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
818000000
wish Shares Withheld Related To Net Share Settlement Value
SharesWithheldRelatedToNetShareSettlementValue
-5000000
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
27000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-9000000
us-gaap Net Income Loss
NetIncomeLoss
-150000000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
682000000
us-gaap Net Income Loss
NetIncomeLoss
-169000000
us-gaap Net Income Loss
NetIncomeLoss
-150000000
us-gaap Inventory Write Down
InventoryWriteDown
3000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4000000
wish Noncash Lease Expense
NoncashLeaseExpense
2000000
wish Noncash Lease Expense
NoncashLeaseExpense
3000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
6000000
us-gaap Share Based Compensation
ShareBasedCompensation
41000000
us-gaap Share Based Compensation
ShareBasedCompensation
27000000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
4000000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1000000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-5000000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-2000000
wish Increase Decrease In Funds Receivable
IncreaseDecreaseInFundsReceivable
10000000
wish Increase Decrease In Funds Receivable
IncreaseDecreaseInFundsReceivable
5000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-14000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2000000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-16000000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-12000000
wish Increase Decrease In Merchants Payable
IncreaseDecreaseInMerchantsPayable
-33000000
wish Increase Decrease In Merchants Payable
IncreaseDecreaseInMerchantsPayable
-52000000
wish Increase Decrease In Accrued And Refund Liabilities
IncreaseDecreaseInAccruedAndRefundLiabilities
-18000000
wish Increase Decrease In Accrued And Refund Liabilities
IncreaseDecreaseInAccruedAndRefundLiabilities
-42000000
wish Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4000000
wish Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-180000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-213000000
wish Payment Of Taxes Related To Rsu Settlement
PaymentOfTaxesRelatedToRSUSettlement
4000000
wish Payment Of Taxes Related To Rsu Settlement
PaymentOfTaxesRelatedToRSUSettlement
5000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-7000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-9000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-188000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-317000000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
513000000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1018000000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
325000000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
701000000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
318000000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
693000000
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
7000000
CY2022Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
8000000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
325000000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
701000000
us-gaap Income Taxes Paid
IncomeTaxesPaid
6000000
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-30
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
Reverse Stock Split, every thirty shares of the common stock were combined into one issued and outstanding share of common stock and no fractional shares were issued.
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:5.667%;font-size:10.0pt;margin-top:9.0pt;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;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.</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:5.733%;font-size:10.0pt;margin-top:9.0pt;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;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;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;">37</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;">24</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 June 30, 2023 and December 31, 2022, 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;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;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;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;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:66.653%;"></td> <td style="width:1.214%;"></td> <td style="width:1.0%;"></td> <td style="width:13.46%;"></td> <td style="width:1.0%;"></td> <td style="width:1.214%;"></td> <td style="width:1.0%;"></td> <td style="width:13.46%;"></td> <td style="width:1.0%;"></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;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;"> </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;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;"> </span></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;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;">June 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;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;"> </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;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;"> </span></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;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;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;"> </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;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;"> </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;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;"> </span></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;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;">2023</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;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;"> </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;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;"> </span></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;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;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;"> </span></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;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;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;"> </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;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;"> </span></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;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;">68</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;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;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;"> </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;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;"> </span></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;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(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;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;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;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;"> </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;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;"> </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:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;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;">26</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;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;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;"> </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;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;"> </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:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;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;">56</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;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;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 six months ended June 30, 2023 and 2022.</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
0.37
CY2022 wish Percentage Of Concentrations Of Risk Cash And Cash Equivalents
PercentageOfConcentrationsOfRiskCashAndCashEquivalents
0.24
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
78000000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
134000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
174000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
323000000
CY2023Q2 wish Accrued Logistics Costs Current
AccruedLogisticsCostsCurrent
29000000
CY2022Q4 wish Accrued Logistics Costs Current
AccruedLogisticsCostsCurrent
44000000
CY2023Q2 wish Deferred Revenue And Customer Deposits Current
DeferredRevenueAndCustomerDepositsCurrent
14000000
CY2022Q4 wish Deferred Revenue And Customer Deposits Current
DeferredRevenueAndCustomerDepositsCurrent
18000000
CY2023Q2 wish Accrued Wish Cash Liability Current
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13000000
CY2022Q4 wish Accrued Wish Cash Liability Current
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14000000
CY2023Q2 us-gaap Sales And Excise Tax Payable Current
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13000000
CY2022Q4 us-gaap Sales And Excise Tax Payable Current
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15000000
CY2023Q2 us-gaap Other Accrued Liabilities Current
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41000000
CY2022Q4 us-gaap Other Accrued Liabilities Current
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39000000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
110000000
CY2022Q4 us-gaap Accrued Liabilities Current
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130000000
CY2023Q2 wish Increase Decrease In Logistics Costs
IncreaseDecreaseInLogisticsCosts
-15000000
CY2023Q2 wish Percentage Of Decrease In Logistics Costs Due To Lower Shipping Volumes
PercentageOfDecreaseInLogisticsCostsDueToLowerShippingVolumes
0.34
CY2023Q2 wish Increase Decrease In Deferred Revenue And Customer Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerDeposits
-4000000
CY2023Q2 wish Percentage Of Decrease In Deferred Revenue And Customer Deposits Due To Lower Logistics Volumes
PercentageOfDecreaseInDeferredRevenueAndCustomerDepositsDueToLowerLogisticsVolumes
0.22
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
13000000
wish Unredeemable Cash Balances In Core Marketplace Revenue
UnredeemableCashBalancesInCoreMarketplaceRevenue
1000000
CY2023Q2 wish Increase Decrease In Sales And Indirect Taxes
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-2000000
CY2023Q2 wish Percentage Of Decrease In Sales And Indirect Taxes Due To Less Taxes Collected In Connection With Lower Order Volumes
PercentageOfDecreaseInSalesAndIndirectTaxesDueToLessTaxesCollectedInConnectionWithLowerOrderVolumes
0.13
CY2023Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
131000000
CY2022Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
179000000
CY2023Q2 us-gaap Derivative Assets
DerivativeAssets
1000000
CY2023Q2 us-gaap Derivative Liabilities
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8000000
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
6000000
CY2022Q4 us-gaap Derivative Liabilities
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2000000
CY2022Q4 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
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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-5000000
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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-6000000
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-6000000
CY2023Q2 wish Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
-3000000
CY2022Q4 wish Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
2000000
CY2023Q2 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
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CY2022Q2 us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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0
us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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CY2023Q2 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
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4000000
CY2022Q2 us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
5000000
us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
4000000
CY2023Q2 us-gaap Operating Lease Cost
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1000000
us-gaap Operating Lease Cost
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2000000
CY2022Q2 us-gaap Operating Lease Cost
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2000000
us-gaap Operating Lease Cost
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4000000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
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6000000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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9000000
CY2023Q2 us-gaap Operating Lease Liability Current
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7000000
CY2022Q4 us-gaap Operating Lease Liability Current
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7000000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
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9000000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
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13000000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
us-gaap Operating Lease Payments
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4000000
us-gaap Operating Lease Payments
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5000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17000000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1000000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
16000000
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
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
67000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.17
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
299000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.03
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
366000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.00
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
995000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0415
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.017
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9151
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.732
wish Share Based Compensation Arrangement By Share Based Payment Award Estimated Fair Value Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardEstimatedFairValuePerShare
11.27
wish Share Based Compensation Arrangement By Share Based Payment Award Estimated Fair Value Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardEstimatedFairValuePerShare
56.1
CY2023Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
15000000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
29000000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
41000000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
27000000
CY2023Q2 wish Increase Decrease In Stock Based Compensation Expenses
IncreaseDecreaseInStockBasedCompensationExpenses
-14000000
wish Increase Decrease In Stock Based Compensation Expenses
IncreaseDecreaseInStockBasedCompensationExpenses
14000000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
14000000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9000000
CY2023Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
2000000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-80000000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-90000000
us-gaap Net Income Loss
NetIncomeLoss
-169000000
us-gaap Net Income Loss
NetIncomeLoss
-150000000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23651000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23651000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22241000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22241000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23451000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23451000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22146000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22146000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.38
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.38
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.05
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.77
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.77
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4159000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4396000
CY2023Q2 wish Property And Equipment Net And Operating Lease Right Of Use Assets Net
PropertyAndEquipmentNetAndOperatingLeaseRightOfUseAssetsNet
15000000
CY2023Q2 wish Property And Equipment Net And Operating Lease Right Of Use Assets Net Percentage
PropertyAndEquipmentNetAndOperatingLeaseRightOfUseAssetsNetPercentage
1
CY2022Q4 wish Property And Equipment Net And Operating Lease Right Of Use Assets Net
PropertyAndEquipmentNetAndOperatingLeaseRightOfUseAssetsNet
18000000
CY2022Q4 wish Property And Equipment Net And Operating Lease Right Of Use Assets Net Percentage
PropertyAndEquipmentNetAndOperatingLeaseRightOfUseAssetsNetPercentage
1
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
150
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.17
CY2023Q1 us-gaap Severance Costs1
SeveranceCosts1
3000000
us-gaap Severance Costs1
SeveranceCosts1
3000000
us-gaap Payments For Restructuring
PaymentsForRestructuring
3000000

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