$LOGC
Contextlogic Inc

2024 Q3 Form 10-Q Financial Statement

#000095017024094026 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $7.000M
YoY Change -91.03%
Cost Of Revenue $6.000M
YoY Change -90.32%
Gross Profit $1.000M
YoY Change -93.75%
Gross Profit Margin 14.29%
Selling, General & Admin $16.00M
YoY Change -73.33%
% of Gross Profit 1600.0%
Research & Development $4.000M
YoY Change -89.47%
% of Gross Profit 400.0%
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit 0.0%
Operating Expenses $20.00M
YoY Change -79.59%
Operating Profit -$19.00M
YoY Change -76.83%
Interest Expense $2.000M
YoY Change -66.67%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$13.00M
YoY Change -83.12%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$13.00M
YoY Change -83.75%
Net Earnings / Revenue -185.71%
Basic Earnings Per Share -$0.50
Diluted Earnings Per Share -$0.50
COMMON SHARES
Basic Shares Outstanding 26.27M 24.49M
Diluted Shares Outstanding 25.86M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $150.0M
YoY Change -71.75%
Cash & Equivalents $162.0M
Short-Term Investments $47.00M
Other Short-Term Assets $9.000M
YoY Change -70.0%
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $159.0M
YoY Change -71.86%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $159.0M
Total Long-Term Assets $0.00
Total Assets $159.0M
YoY Change -72.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00
YoY Change -100.0%
Accrued Expenses $5.000M
YoY Change -95.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.000M
YoY Change -97.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.000M
Total Long-Term Liabilities $0.00
Total Liabilities $5.000M
YoY Change -97.98%
SHAREHOLDERS EQUITY
Retained Earnings -$3.327B
YoY Change 7.39%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $154.0M
YoY Change
Total Liabilities & Shareholders Equity $159.0M
YoY Change -72.77%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$13.00M
YoY Change -83.75%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$15.00M
YoY Change -82.95%
INVESTING ACTIVITIES
Capital Expenditures $133.0M
YoY Change 4333.33%
Acquisitions
YoY Change
Other Investing Activities $8.000M
YoY Change -82.61%
Cash From Investing Activities -$125.0M
YoY Change -390.7%
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
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -15.00M
Cash From Investing Activities -125.0M
Cash From Financing Activities 0.000
Net Change In Cash -140.0M
YoY Change 204.35%
FREE CASH FLOW
Cash From Operating Activities -$15.00M
Capital Expenditures $133.0M
Free Cash Flow -$148.0M
YoY Change 62.64%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001822250
dei Amendment Flag
AmendmentFlag
false
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2010-06-30
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q2 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrent
CY2023Q4 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrent
CY2024Q2 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
CY2023Q4 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
CY2023Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39775
dei Entity Registrant Name
EntityRegistrantName
ContextLogic Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
27-2930953
dei Entity Address Address Line1
EntityAddressAddressLine1
2648 International Blvd Ste 115
dei Entity Address City Or Town
EntityAddressCityOrTown
Oakland
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94601
dei City Area Code
CityAreaCode
415
dei Local Phone Number
LocalPhoneNumber
965-8476
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2024Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
26274640
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
103000000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
238000000
CY2024Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
47000000
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
144000000
CY2023Q4 wish Funds Receivable
FundsReceivable
7000000
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9000000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
21000000
CY2024Q2 us-gaap Assets Current
AssetsCurrent
159000000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
410000000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4000000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5000000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2000000
CY2023Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
2000000
CY2024Q2 us-gaap Assets
Assets
159000000
CY2023Q4 us-gaap Assets
Assets
423000000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
30000000
CY2023Q4 wish Merchants Payable
MerchantsPayable
74000000
CY2023Q4 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
2000000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5000000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
90000000
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
5000000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
196000000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6000000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4000000
CY2024Q2 us-gaap Liabilities
Liabilities
5000000
CY2023Q4 us-gaap Liabilities
Liabilities
206000000
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3000000000
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26211000
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26211000
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
24229000
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
24229000
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3481000000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3470000000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-7000000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3327000000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3246000000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
154000000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
217000000
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
159000000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
423000000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7000000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
78000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
174000000
CY2024Q2 us-gaap Cost Of Revenue
CostOfRevenue
6000000
CY2023Q2 us-gaap Cost Of Revenue
CostOfRevenue
62000000
us-gaap Cost Of Revenue
CostOfRevenue
36000000
us-gaap Cost Of Revenue
CostOfRevenue
138000000
CY2024Q2 us-gaap Gross Profit
GrossProfit
1000000
CY2023Q2 us-gaap Gross Profit
GrossProfit
16000000
us-gaap Gross Profit
GrossProfit
7000000
us-gaap Gross Profit
GrossProfit
36000000
CY2024Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3000000
CY2023Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
39000000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
18000000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
76000000
CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4000000
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
38000000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26000000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
89000000
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13000000
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
22000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
35000000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
47000000
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
20000000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
99000000
us-gaap Operating Expenses
OperatingExpenses
79000000
us-gaap Operating Expenses
OperatingExpenses
212000000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-19000000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-83000000
us-gaap Operating Income Loss
OperatingIncomeLoss
-72000000
us-gaap Operating Income Loss
OperatingIncomeLoss
-176000000
CY2024Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2000000
CY2023Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
6000000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2000000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
10000000
CY2024Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
4000000
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
4000000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-13000000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-77000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-66000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-166000000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-13000000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-80000000
us-gaap Net Income Loss
NetIncomeLoss
-72000000
us-gaap Net Income Loss
NetIncomeLoss
-169000000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.5
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.5
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.38
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.87
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.87
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.21
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25858000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25858000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23651000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23651000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25086000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25086000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23451000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23451000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-13000000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-80000000
us-gaap Net Income Loss
NetIncomeLoss
-72000000
us-gaap Net Income Loss
NetIncomeLoss
-169000000
CY2023Q2 wish Other Comprehensive Income Unrealized Holding Gain Loss On Derivatives And Marketable Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnDerivativesAndMarketableSecuritiesArisingDuringPeriodNetOfTax
-4000000
wish Other Comprehensive Income Unrealized Holding Gain Loss On Derivatives And Marketable Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnDerivativesAndMarketableSecuritiesArisingDuringPeriodNetOfTax
-1000000
wish Other Comprehensive Income Unrealized Holding Gain Loss On Derivatives And Marketable Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnDerivativesAndMarketableSecuritiesArisingDuringPeriodNetOfTax
-4000000
CY2024Q2 wish Other Comprehensive Income Loss Foreign Exchange Related Adjustment Included In Asset Sale
OtherComprehensiveIncomeLossForeignExchangeRelatedAdjustmentIncludedInAssetSale
9000000
wish Other Comprehensive Income Loss Foreign Exchange Related Adjustment Included In Asset Sale
OtherComprehensiveIncomeLossForeignExchangeRelatedAdjustmentIncludedInAssetSale
9000000
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-4000000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1000000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-4000000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4000000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-88000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-65000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-177000000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
164000000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3000000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-13000000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
154000000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
217000000
wish Shares Withheld Related To Net Share Settlement Value
SharesWithheldRelatedToNetShareSettlementValue
-1000000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2000000
us-gaap Net Income Loss
NetIncomeLoss
-72000000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
154000000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
411000000
CY2023Q2 wish Shares Withheld Related To Net Share Settlement Value
SharesWithheldRelatedToNetShareSettlementValue
-1000000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15000000
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 Net Income Loss
NetIncomeLoss
-169000000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
337000000
us-gaap Net Income Loss
NetIncomeLoss
-72000000
us-gaap Net Income Loss
NetIncomeLoss
-169000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2000000
wish Noncash Lease Expense
NoncashLeaseExpense
1000000
wish Noncash Lease Expense
NoncashLeaseExpense
2000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1000000
us-gaap Share Based Compensation
ShareBasedCompensation
12000000
us-gaap Share Based Compensation
ShareBasedCompensation
41000000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1000000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
4000000
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
4000000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-5000000
wish Increase Decrease In Funds Receivable
IncreaseDecreaseInFundsReceivable
10000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1000000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-14000000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-16000000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-16000000
wish Increase Decrease In Merchants Payable
IncreaseDecreaseInMerchantsPayable
-8000000
wish Increase Decrease In Merchants Payable
IncreaseDecreaseInMerchantsPayable
-33000000
wish Increase Decrease In Accrued And Refund Liabilities
IncreaseDecreaseInAccruedAndRefundLiabilities
-6000000
wish Increase Decrease In Accrued And Refund Liabilities
IncreaseDecreaseInAccruedAndRefundLiabilities
-18000000
wish Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-2000000
wish Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-4000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
6000000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-90000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-180000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3000000
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
-133000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
47000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
170000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
145000000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
176000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3000000
wish Payment Of Taxes Related To Rsu Settlement
PaymentOfTaxesRelatedToRSUSettlement
1000000
wish Payment Of Taxes Related To Rsu Settlement
PaymentOfTaxesRelatedToRSUSettlement
4000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1000000
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
-2000000
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 Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-128000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-188000000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
238000000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
513000000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110000000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
325000000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
103000000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
318000000
CY2024Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
7000000
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
7000000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110000000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
325000000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
162000000
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-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-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-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Credit Risk </span><span style="color:#000000;white-space:pre-wrap;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-size:10pt;font-family:Arial;min-width:fit-content;">Following the Asset Sale, the Company only maintains bank accounts in the United States. The total cash balance in former bank accounts maintained in China represented approximately </span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">49</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">% of the Company’s total cash and cash equivalents as of December 31, 2023.</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-size:10pt;font-family:Arial;min-width:fit-content;">Prior to the Asset Sale, the Company's derivative financial instruments exposed it to credit risk to the extent that the counterparties were unable to meet the terms of the arrangement. Following the Asset Sale, the Company did not have any derivative instruments as of June 30, 2024. Refer to Note 4 – Asset sale for additional information on Asset Sale.</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-size:10pt;font-family:Arial;min-width:fit-content;">Prior to the Asset Sale, the Company was exposed to credit risk in the event of a default by its Payment Service Providers (“PSPs”)</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">. Following the Asset Sale, the Company did not have any funds receivable as of June 30, 2024. The two PSPs that represented more than 10% of the Company's fund receivable balance as of December 31, 2023, amounted to </span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">57</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">28</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">%, in the order of magnitude. Refer to Note 4 – Asset sale for additional information on Asset Sale.</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-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Services Risk </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">— Prior to the Asset Sale, the Company served all of its users using third-party data center and hosting providers. No significant interruptions of service were known to have occurred during the three and six months ended June 30, 2024 and 2023. The Company does not have any service risk as of June 30, 2024 as the Company no longer has marketplace and logistics </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">operations as of the Asset Sale on April 19, 2024. Refer to Note 4 – Asset sale for additional information on Asset Sale.</span></p>
CY2023 wish Percentage Of Concentrations Of Risk Cash And Cash Equivalents
PercentageOfConcentrationsOfRiskCashAndCashEquivalents
0.49
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7000000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
78000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
174000000
CY2024Q2 wish Funds Receivable
FundsReceivable
0
CY2024Q2 us-gaap Derivative Assets
DerivativeAssets
0
CY2024Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
0
CY2024Q2 wish Merchants Payable
MerchantsPayable
0
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Consideration
DisposalGroupIncludingDiscontinuedOperationConsideration
162000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
177000000
CY2024Q2 wish Disposal Group Including Discontinued Operation Funds Receivable
DisposalGroupIncludingDiscontinuedOperationFundsReceivable
6000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Prepaid And Other Assets Current
DisposalGroupIncludingDiscontinuedOperationPrepaidAndOtherAssetsCurrent
20000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Noncurrent
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent
3000000
CY2024Q2 wish Disposal Group Including Discontinued Operation Right Of Use Assets
DisposalGroupIncludingDiscontinuedOperationRightOfUseAssets
5000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Other Noncurrent Assets
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets
3000000
CY2024Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
214000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
13000000
CY2024Q2 wish Disposal Group Including Discontinued Operation Merchants Payable
DisposalGroupIncludingDiscontinuedOperationMerchantsPayable
67000000
CY2024Q2 wish Disposal Group Including Discontinued Operation Refunds Liability
DisposalGroupIncludingDiscontinuedOperationRefundsLiability
1000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent
79000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Other Noncurrent Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentLiabilities
13000000
CY2024Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
173000000
CY2024Q2 wish Net Assets Of Disposal Group Including Discontinued Operation
NetAssetsOfDisposalGroupIncludingDiscontinuedOperation
41000000
CY2024Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
4000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
173000000
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
6000000
CY2024Q2 wish Disposal Group Including Discontinued Operation Excluded Cash At Closing
DisposalGroupIncludingDiscontinuedOperationExcludedCashAtClosing
123000000
CY2024Q2 wish Disposal Group Including Discontinued Operation Cash Adjustment Pursuant To The Asset Sale
DisposalGroupIncludingDiscontinuedOperationCashAdjustmentPursuantToTheAssetSale
11000000
CY2024Q2 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
45000000
CY2024Q2 wish Disposal Group Including Discontinued Operation Net Assets Sold Pursuant To The Asset Sale
DisposalGroupIncludingDiscontinuedOperationNetAssetsSoldPursuantToTheAssetSale
41000000
CY2024Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
4000000
CY2023Q4 wish Accrued Logistics Costs Current
AccruedLogisticsCostsCurrent
25000000
CY2023Q4 wish Deferred Revenue And Customer Deposits Current
DeferredRevenueAndCustomerDepositsCurrent
12000000
CY2023Q4 wish Accrued Wish Cash Liability Current
AccruedWishCashLiabilityCurrent
11000000
CY2023Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
12000000
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5000000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
30000000
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5000000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
90000000
CY2024Q2 wish Percentage Of Decrease In Accrued Liabilities Due To Assets Sales
PercentageOfDecreaseInAccruedLiabilitiesDueToAssetsSales
1
CY2024Q2 wish Percentage Of Decrease In Other Accrued Liabilities
PercentageOfDecreaseInOtherAccruedLiabilities
0.83
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5000000
CY2024Q2 wish Other Payables Related To Restricted Cash Held For Leases Letter Of Credit
OtherPayablesRelatedToRestrictedCashHeldForLeasesLetterOfCredit
3000000
CY2023Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
73000000
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
1000000
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1000000
CY2022Q4 wish Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
2000000
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-4000000
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-3000000
CY2023Q4 wish Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
1000000
CY2024Q2 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
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
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
0
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
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
4000000
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1000000
us-gaap Operating Lease Cost
OperatingLeaseCost
1000000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1000000
us-gaap Operating Lease Cost
OperatingLeaseCost
2000000
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5000000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7000000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6000000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
us-gaap Operating Lease Payments
OperatingLeasePayments
3000000
us-gaap Operating Lease Payments
OperatingLeasePayments
4000000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
0
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
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
366000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.00
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
366000
CY2024Q2 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
P2Y
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3202000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M18D
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 Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9151
wish Share Based Compensation Arrangement By Share Based Payment Award Estimated Fair Value Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardEstimatedFairValuePerShare
11.27
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P2Y
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
0
CY2024Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3000000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
15000000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
12000000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
41000000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6000000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4000000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-13000000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-80000000
us-gaap Net Income Loss
NetIncomeLoss
-72000000
us-gaap Net Income Loss
NetIncomeLoss
-169000000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25858000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25858000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23651000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23651000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25086000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25086000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23451000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23451000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.5
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.5
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.38
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.87
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.87
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.21
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
566000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4159000
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
150
CY2023Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
255
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.17
CY2023Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.34
CY2023 us-gaap Severance Costs1
SeveranceCosts1
13000000

Files In Submission

Name View Source Status
0000950170-24-094026-index-headers.html Edgar Link pending
0000950170-24-094026-index.html Edgar Link pending
0000950170-24-094026.txt Edgar Link pending
0000950170-24-094026-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
wish-20240630.htm Edgar Link pending
wish-20240630.xsd Edgar Link pending
wish-ex31_1.htm Edgar Link pending
wish-ex31_2.htm Edgar Link pending
wish-ex32_1.htm Edgar Link pending
wish-ex32_2.htm Edgar Link pending
wish-20240630_htm.xml Edgar Link completed