$LOGC
ContextLogic Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023060294 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $53.00M $60.00M
YoY Change -56.91% -52.0%
Cost Of Revenue $44.00M $46.00M
YoY Change -54.64% -49.45%
Gross Profit $9.000M $14.00M
YoY Change -65.38% -58.82%
Gross Profit Margin 16.98% 23.33%
Selling, General & Admin $56.00M $56.00M
YoY Change -48.15% -53.33%
% of Gross Profit 622.22% 400.0%
Research & Development $25.00M $38.00M
YoY Change -37.5% -9.52%
% of Gross Profit 277.78% 271.43%
Depreciation & Amortization $1.000M $1.000M
YoY Change 0.0% 0.0%
% of Gross Profit 11.11% 7.14%
Operating Expenses $81.00M $94.00M
YoY Change -45.27% -41.98%
Operating Profit -$72.00M -$80.00M
YoY Change -40.98% -37.5%
Interest Expense $3.000M $3.000M
YoY Change -40.0% -50.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$69.00M -$77.00M
YoY Change -38.39% -36.89%
Income Tax -$1.000M $3.000M
% Of Pretax Income
Net Earnings -$68.00M -$80.00M
YoY Change -38.18% -35.48%
Net Earnings / Revenue -128.3% -133.33%
Basic Earnings Per Share -$3.35
Diluted Earnings Per Share -$2.82 -$3.35
COMMON SHARES
Basic Shares Outstanding 24.01M 23.78M
Diluted Shares Outstanding 23.90M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $382.0M $445.0M
YoY Change -46.87% -46.83%
Cash & Equivalents $238.0M $303.0M
Short-Term Investments $144.0M $142.0M
Other Short-Term Assets $21.00M $27.00M
YoY Change -52.27% -32.5%
Inventory
Prepaid Expenses
Receivables $7.000M $6.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $410.0M $478.0M
YoY Change -47.23% -46.29%
LONG-TERM ASSETS
Property, Plant & Equipment $4.000M $4.000M
YoY Change -55.56% -63.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.000M $4.000M
YoY Change 0.0% 33.33%
Total Long-Term Assets $13.00M $14.00M
YoY Change -40.91% -33.33%
TOTAL ASSETS
Total Short-Term Assets $410.0M $478.0M
Total Long-Term Assets $13.00M $14.00M
Total Assets $423.0M $492.0M
YoY Change -47.06% -45.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.00M $35.00M
YoY Change -43.4% -37.5%
Accrued Expenses $90.00M $95.00M
YoY Change -30.77% -33.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $196.0M $209.0M
YoY Change -36.57% -35.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.000M $4.000M
YoY Change -69.23% -63.64%
Total Long-Term Liabilities $4.000M $4.000M
YoY Change -69.23% -63.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $196.0M $209.0M
Total Long-Term Liabilities $4.000M $4.000M
Total Liabilities $206.0M $220.0M
YoY Change -36.02% -34.72%
SHAREHOLDERS EQUITY
Retained Earnings -$3.200B -$3.178B
YoY Change 9.25% 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 $217.0M $272.0M
YoY Change
Total Liabilities & Shareholders Equity $423.0M $492.0M
YoY Change -47.06% -45.99%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$68.00M -$80.00M
YoY Change -38.18% -35.48%
Depreciation, Depletion And Amortization $1.000M $1.000M
YoY Change 0.0% 0.0%
Cash From Operating Activities -$75.00M -$86.00M
YoY Change -31.19% -14.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.000M $72.00M
YoY Change -102.63% 1100.0%
Cash From Investing Activities -$1.000M $72.00M
YoY Change -102.63% 1100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -1.000M
YoY Change -100.0% -80.0%
NET CHANGE
Cash From Operating Activities -75.00M -86.00M
Cash From Investing Activities -1.000M 72.00M
Cash From Financing Activities 0.000 -1.000M
Net Change In Cash -76.00M -15.00M
YoY Change -9.52% -84.85%
FREE CASH FLOW
Cash From Operating Activities -$75.00M -$86.00M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$75.00M -$86.00M
YoY Change -31.19% -14.0%

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3000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5000000
wish Noncash Lease Expense
NoncashLeaseExpense
3000000
wish Noncash Lease Expense
NoncashLeaseExpense
5000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
11000000
us-gaap Share Based Compensation
ShareBasedCompensation
54000000
us-gaap Share Based Compensation
ShareBasedCompensation
53000000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
6000000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1000000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-3000000
wish Increase Decrease In Funds Receivable
IncreaseDecreaseInFundsReceivable
8000000
wish Increase Decrease In Funds Receivable
IncreaseDecreaseInFundsReceivable
4000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-16000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2000000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-17000000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-10000000
wish Increase Decrease In Merchants Payable
IncreaseDecreaseInMerchantsPayable
-43000000
wish Increase Decrease In Merchants Payable
IncreaseDecreaseInMerchantsPayable
-64000000
wish Increase Decrease In Accrued And Refund Liabilities
IncreaseDecreaseInAccruedAndRefundLiabilities
-32000000
wish Increase Decrease In Accrued And Refund Liabilities
IncreaseDecreaseInAccruedAndRefundLiabilities
-36000000
wish Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-5000000
wish Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-6000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-3000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-266000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-313000000
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
239000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
303000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
317000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
218000000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
75000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-85000000
wish Proceeds From Sales Of Shares Through Employee Equity Incentive Plans
ProceedsFromSalesOfSharesThroughEmployeeEquityIncentivePlans
1000000
wish Payment Of Taxes Related To Rsu Settlement
PaymentOfTaxesRelatedToRSUSettlement
5000000
wish Payment Of Taxes Related To Rsu Settlement
PaymentOfTaxesRelatedToRSUSettlement
10000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5000000
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
-7000000
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
-203000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-424000000
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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
310000000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
594000000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
303000000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
587000000
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
7000000
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
7000000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
310000000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
594000000
us-gaap Income Taxes Paid
IncomeTaxesPaid
1000000
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:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:5.667%;font-size:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Concentrations of Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:5.667%;font-size:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Credit Risk </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">37</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">24</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">% of the Company’s total cash and cash equivalents as of September 30, 2023 and December 31, 2022, respectively.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="text-indent:5.667%;font-size:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><div style="font-size:10pt;font-family:Arial;"><p style="text-indent:5.667%;font-size:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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:5.667%;font-size:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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:66.84%;"></td> <td style="width:1.16%;"></td> <td style="width:1%;"></td> <td style="width:13.42%;"></td> <td style="width:1%;"></td> <td style="width:1.16%;"></td> <td style="width:1%;"></td> <td style="width:13.42%;"></td> <td style="width:1%;"></td> </tr> <tr style="height:10pt;"> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">September 30,</span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">December 31,</span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;"> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">2023</span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">2022</span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;"> <td style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">PSP 1</span></p></td> <td style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#cff0fc;word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">69</span></p></td> <td style="background-color:#cff0fc;word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">%</span></p></td> <td style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#cff0fc;word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#cff0fc;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">32</span></p></td> <td style="background-color:#cff0fc;word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">%</span></p></td> </tr> <tr style="height:10pt;"> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">PSP 2</span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">28</span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">%</span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">56</span></p></td> <td style="background-color:#ffffff;word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">%</span></p></td> </tr> </table></div><p style="text-indent:5.667%;font-size:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Services Risk </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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, 2023 and 2022.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p>
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wish Number Of Putative Class Action Lawsuits
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wish Loss Contingency Number Of Cases Dismissed By Plaintiff
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1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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0.7553
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEstimatedFairValuePerShare
11.27
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CY2023Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2022Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2023Q3 us-gaap Unrecognized Tax Benefits
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CY2023Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2023Q3 us-gaap Restructuring Reserve
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Files In Submission

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