2022 Q1 Form 10-Q Financial Statement
#000156459022018277 Filed on May 05, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
|---|---|---|---|
| Revenue | $189.0M | $289.0M | $772.0M |
| YoY Change | -75.52% | -63.6% | 75.45% |
| Cost Of Revenue | $125.0M | $169.0M | $335.0M |
| YoY Change | -62.69% | -50.58% | |
| Gross Profit | $64.00M | $120.0M | $437.0M |
| YoY Change | -85.35% | -73.45% | 53.87% |
| Gross Profit Margin | 33.86% | 41.52% | 56.61% |
| Selling, General & Admin | $56.00M | $133.0M | $512.0M |
| YoY Change | -89.06% | -83.64% | 63.58% |
| % of Gross Profit | 87.5% | 110.83% | 117.16% |
| Research & Development | $66.00M | $51.00M | $51.00M |
| YoY Change | 29.41% | -66.0% | 104.0% |
| % of Gross Profit | 103.13% | 42.5% | 11.67% |
| Depreciation & Amortization | $2.000M | $2.000M | $2.000M |
| YoY Change | 0.0% | -33.33% | 0.0% |
| % of Gross Profit | 3.13% | 1.67% | 0.46% |
| Operating Expenses | $122.0M | $184.0M | $563.0M |
| YoY Change | -78.33% | -80.89% | 66.57% |
| Operating Profit | -$58.00M | -$64.00M | -$126.0M |
| YoY Change | -53.97% | -87.48% | 133.33% |
| Interest Expense | $2.000M | $5.000M | $0.00 |
| YoY Change | -350.0% | -100.0% | |
| % of Operating Profit | |||
| Other Income/Expense, Net | $0.00 | $0.00 | |
| YoY Change | -100.0% | ||
| Pretax Income | -$60.00M | -$59.00M | -$126.0M |
| YoY Change | -52.38% | -89.61% | 90.91% |
| Income Tax | $0.00 | -$1.000M | $2.000M |
| % Of Pretax Income | |||
| Net Earnings | -$60.00M | -$58.00M | -$128.0M |
| YoY Change | -53.13% | -89.81% | 93.94% |
| Net Earnings / Revenue | -31.75% | -20.07% | -16.58% |
| Basic Earnings Per Share | -$2.72 | ||
| Diluted Earnings Per Share | -$90.77K | -$89.64K | -$206.8K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 22.05M | ||
| Diluted Shares Outstanding | 22.05M |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $1.020B | $1.159B | $1.774B |
| YoY Change | -42.5% | -45.56% | 4011.24% |
| Cash & Equivalents | $760.0M | $1.009B | $1.620B |
| Short-Term Investments | $260.0M | $150.0M | $154.0M |
| Other Short-Term Assets | $45.00M | $48.00M | $88.00M |
| YoY Change | -48.86% | -52.94% | 2658.62% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $14.00M | $17.00M | $65.00M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $1.079B | $1.224B | $1.927B |
| YoY Change | -44.01% | -47.1% | 4058.39% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $15.00M | $17.00M | $62.00M |
| YoY Change | -75.81% | -32.0% | 3363.69% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $9.000M | $17.00M | $0.00 |
| YoY Change | 325.0% | ||
| Other Assets | $4.000M | $7.000M | $10.00M |
| YoY Change | -60.0% | -36.36% | 1512.9% |
| Total Long-Term Assets | $42.00M | $59.00M | $72.00M |
| YoY Change | -41.67% | -28.92% | 2887.55% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $1.079B | $1.224B | $1.927B |
| Total Long-Term Assets | $42.00M | $59.00M | $72.00M |
| Total Assets | $1.121B | $1.283B | $1.999B |
| YoY Change | -43.92% | -46.47% | 4000.51% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $190.0M | $67.00M | $672.0M |
| YoY Change | -71.73% | -84.56% | 30725.69% |
| Accrued Expenses | $150.0M | $174.0M | $309.0M |
| YoY Change | -51.46% | -52.59% | 15910.36% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $3.298M | $3.295M | $2.740M |
| YoY Change | 20.36% | 72.51% | |
| Total Short-Term Liabilities | $352.0M | $449.0M | $1.035B |
| YoY Change | -65.99% | -66.29% | 19880.69% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| Other Long-Term Liabilities | $14.00M | $16.00M | $34.00M |
| YoY Change | -58.82% | -57.89% | |
| Total Long-Term Liabilities | $14.00M | $16.00M | $34.00M |
| YoY Change | -58.82% | -57.89% | 244.83% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $352.0M | $449.0M | $1.035B |
| Total Long-Term Liabilities | $14.00M | $16.00M | $34.00M |
| Total Liabilities | $366.0M | $465.0M | $1.069B |
| YoY Change | -65.76% | -66.06% | 7007.71% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$2.545B | ||
| YoY Change | 16.53% | ||
| Common Stock | $0.00 | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $755.0M | $818.0M | $930.0M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $1.121B | $1.283B | $1.999B |
| YoY Change | -43.92% | -46.47% | 4000.51% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$60.00M | -$58.00M | -$128.0M |
| YoY Change | -53.13% | -89.81% | 93.94% |
| Depreciation, Depletion And Amortization | $2.000M | $2.000M | $2.000M |
| YoY Change | 0.0% | -33.33% | 0.0% |
| Cash From Operating Activities | -$146.0M | -$49.00M | -$354.0M |
| YoY Change | -58.76% | 104.17% | 174.42% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $2.000M | -$1.000M | $150.0K |
| YoY Change | 1233.33% | 0.0% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$103.0M | -$18.00M | $14.00M |
| YoY Change | -835.71% | -120.22% | -20.0% |
| Cash From Investing Activities | -$105.0M | -$19.00M | $14.00M |
| YoY Change | -850.0% | -121.59% | -76.27% |
| 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 | 7.000M | -5.000M |
| YoY Change | -100.0% | -99.33% | -600.0% |
| NET CHANGE | |||
| Cash From Operating Activities | -146.0M | -49.00M | -354.0M |
| Cash From Investing Activities | -105.0M | -19.00M | 14.00M |
| Cash From Financing Activities | 0.000 | 7.000M | -5.000M |
| Net Change In Cash | -251.0M | -61.00M | -345.0M |
| YoY Change | -27.25% | -105.49% | 400.0% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$146.0M | -$49.00M | -$354.0M |
| Capital Expenditures | $2.000M | -$1.000M | $150.0K |
| Free Cash Flow | -$148.0M | -$48.00M | -$354.2M |
| YoY Change | -58.21% | 108.7% | 174.53% |
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UseOfEstimates
|
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;text-indent:5.73%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;text-indent:5.73%;color:#000000;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. These estimates form the basis for judgments the Company makes about the carrying values of its assets and liabilities that are not readily available from other sources. These estimates include, but are not limited to, fair value of financial instruments, useful lives of long-lived assets, fair value of derivative instruments, incremental borrowing rate applied to lease accounting, contingent liabilities, redemption probabilities associated with Wish Cash, allowances for refunds and chargebacks and uncertain tax positions. As of March 31, 2022, the effects of the ongoing COVID-19 pandemic on the Company’s business, results of operations, and financial condition continue to evolve. As a result, many of the Company’s estimates and assumptions required increased judgment and these estimates may change materially in future periods. </p> | |
| CY2022Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | |
| CY2022Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="text-align:justify;margin-bottom:0pt;margin-top:13pt;text-indent:5.73%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Concentrations of Risk </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:5.73%;font-style:italic;font-size:10pt;font-family:Arial;font-weight:normal;text-transform:none;font-variant: normal;">Credit Risk <span style="font-style:normal;">— 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-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:5.73%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 15% of the Company’s total cash and cash equivalents as of March 31, 2022 and December 31, 2021.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:5.73%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:5.67%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is exposed to credit risk in the event of a default by its <span style="Background-color:#FFFFFF;color:#000000;">Payment Service Providers (“PSPs”)</span>. 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. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:5.67%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following PSPs each represented 10% or more of the Company’s funds receivable balance: </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:5.67%;font-family:Times New Roman;font-size:10pt;"> </p> <div> <table border="0" cellpadding="0" cellspacing="0" style="margin:auto;border-collapse:collapse; width:100%;"> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:66.98%;" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.62%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td colspan="2" style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:13.88%;" valign="bottom"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">March 31,</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.62%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td colspan="2" style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:13.88%;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">December 31,</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:66.98%; border-bottom:solid 0.75pt transparent;" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1.62%; border-bottom:solid 0.75pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td colspan="2" style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:13.88%; border-bottom:solid 0.75pt #000000;" valign="bottom"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2022</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1.62%; border-bottom:solid 0.75pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td colspan="2" style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:13.88%; border-bottom:solid 0.75pt #000000;" valign="bottom"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2021</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:66.98%;" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PSP 1</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.62%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:12.88%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">64</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.62%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:12.88%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">62</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:66.98%;" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PSP 2</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.62%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:12.88%;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">25</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1.62%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:12.88%;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">32</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%</p></td> </tr> </table></div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:9pt;text-indent:5.73%;font-style:italic;font-size:10pt;font-family:Arial;font-weight:normal;text-transform:none;font-variant: normal;">Services Risk <span style="font-style:normal;">— The Company serves all of 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 months ended March 31, 2022 and 2021. </span></p> | |
| CY2022Q1 | wish |
Percentage Of Concentrations Of Risk Cash And Cash Equivalents
PercentageOfConcentrationsOfRiskCashAndCashEquivalents
|
0.15 | |
| CY2021 | wish |
Percentage Of Concentrations Of Risk Cash And Cash Equivalents
PercentageOfConcentrationsOfRiskCashAndCashEquivalents
|
0.15 | |
| CY2022Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.09 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.21 | |
| CY2022Q1 | wish |
Accrued Logistics Costs Current
AccruedLogisticsCostsCurrent
|
43000000 | |
| CY2021Q4 | wish |
Accrued Logistics Costs Current
AccruedLogisticsCostsCurrent
|
56000000 | |
| CY2022Q1 | wish |
Deferred Revenue And Customer Deposits Current
DeferredRevenueAndCustomerDepositsCurrent
|
22000000 | |
| CY2021Q4 | wish |
Deferred Revenue And Customer Deposits Current
DeferredRevenueAndCustomerDepositsCurrent
|
25000000 | |
| CY2022Q1 | wish |
Accrued Wish Cash Liability Current
AccruedWishCashLiabilityCurrent
|
19000000 | |
| CY2021Q4 | wish |
Accrued Wish Cash Liability Current
AccruedWishCashLiabilityCurrent
|
20000000 | |
| CY2022Q1 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
20000000 | |
| CY2021Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
26000000 | |
| CY2022Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
46000000 | |
| CY2021Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
47000000 | |
| CY2022Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
150000000 | |
| CY2021Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
174000000 | |
| CY2022Q1 | wish |
Increase Decrease In Logistics Costs
IncreaseDecreaseInLogisticsCosts
|
-13000000 | |
| CY2022Q1 | wish |
Percentage Of Decrease In Logistics Costs Due To Lower Shipping Volumes
PercentageOfDecreaseInLogisticsCostsDueToLowerShippingVolumes
|
0.23 | |
| CY2022Q1 | wish |
Unredeemable Cash Balances In Core Marketplace Revenue
UnredeemableCashBalancesInCoreMarketplaceRevenue
|
1000000 | |
| CY2021Q4 | wish |
Unredeemable Cash Balances In Core Marketplace Revenue
UnredeemableCashBalancesInCoreMarketplaceRevenue
|
3000000 | |
| CY2022Q1 | wish |
Increase Decrease In Sales And Indirect Taxes
IncreaseDecreaseInSalesAndIndirectTaxes
|
-6000000 | |
| CY2022Q1 | wish |
Percentage Of Decrease In Sales And Indirect Taxes Due To Less Taxes Collected In Connection With Lower Order Volumes
PercentageOfDecreaseInSalesAndIndirectTaxesDueToLessTaxesCollectedInConnectionWithLowerOrderVolumes
|
0.23 | |
| CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
133000000 | |
| CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
103000000 | |
| CY2022Q1 | wish |
Derivative Asset Liability Notional Amount
DerivativeAssetLiabilityNotionalAmount
|
284000000 | |
| CY2021Q4 | wish |
Derivative Asset Liability Notional Amount
DerivativeAssetLiabilityNotionalAmount
|
374000000 | |
| CY2021Q4 | wish |
Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
|
2000000 | |
| CY2020Q4 | wish |
Unrealized Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification
UnrealizedOtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassification
|
2000000 | |
| CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
|
2000000 | |
| CY2021 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
|
22000000 | |
| CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
|
2000000 | |
| CY2021 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
|
22000000 | |
| CY2022Q1 | 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 | |
| CY2022Q1 | us-gaap |
Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
|
0 | |
| CY2021Q1 | us-gaap |
Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
|
0 | |
| CY2022Q1 | us-gaap |
Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
|
1000000 | |
| CY2021Q1 | us-gaap |
Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
|
4000000 | |
| CY2022Q1 | wish |
Lessee Operating Lease Expiration Date Year
LesseeOperatingLeaseExpirationDateYear
|
2025 | |
| CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2000000 | |
| CY2021Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
4000000 | |
| CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
14000000 | |
| CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
18000000 | |
| CY2021Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
9000000 | |
| CY2022Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
9000000 | |
| CY2022Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
14000000 | |
| CY2021Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
16000000 | |
| CY2022Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y | |
| CY2022Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
3000000 | |
| CY2021Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
4000000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
7000000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
8000000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
7000000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
3000000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
25000000 | |
| CY2022Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
2000000 | |
| CY2022Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
23000000 | |
| CY2021 | wish |
Number Of Putative Class Action Lawsuits
NumberOfPutativeClassActionLawsuits
|
4 | |
| CY2021 | wish |
Loss Contingency Number Of Cases Dismissed By Plaintiff
LossContingencyNumberOfCasesDismissedByPlaintiff
|
1 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
45000000 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.254 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
6000000 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.860 | |
| CY2022Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
1000000 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0.138 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
50000000 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.593 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
13000000 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0170 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.7320 | |
| CY2022Q1 | wish |
Share Based Compensation Arrangement By Share Based Payment Award Estimated Fair Value Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardEstimatedFairValuePerShare
|
1.87 | |
| CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
-2000000 | |
| CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
37000000 | |
| CY2022Q1 | wish |
Increase Decrease In Stock Based Compensation Expenses
IncreaseDecreaseInStockBasedCompensationExpenses
|
-39000000 | |
| CY2021Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2000000 | |
| CY2022Q1 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
1000000 | |
| CY2021Q4 | us-gaap |
Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
|
1000000 | |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-60000000 | |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-128000000 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
661000000 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
619000000 | |
| CY2022Q1 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
|
0.15 | |
| CY2022Q1 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
|
190 | |
| CY2022Q1 | us-gaap |
Severance Costs1
SeveranceCosts1
|
3000000 | |
| CY2022Q1 | wish |
Impairments Of Lease Assets And Property And Equipment
ImpairmentsOfLeaseAssetsAndPropertyAndEquipment
|
4000000 |
