OTC$LOGC
Contextlogic Holdings Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported financial results for the second quarter of 2024 following the asset sale to Qoo10.
ContextLogic reported a net loss of $13 million for the second quarter of 2024, compared to a net loss of $80 million in the same period last year. The company is focusing on identifying and evaluating strategic opportunities after the completion of the asset sale.
- Net loss was $13 million, an improvement from the $80 million net loss in Q2 2023.
- Completed the Asset Sale on April 19, 2024, ceasing operations of the Wish platform.
- Held $103 million in cash and cash equivalents and $47 million in marketable securities as of June 30, 2024.
- Began reviewing and identifying strategic opportunities to utilize NOLs and other tax attributes.
Headline financials
Revenue & EPS history
Wish · Revenue · Quarterly
$7M
Revenue by segment
Wish · $12.1M total across 2 segments · Q1 2026
- Packaged$10.3M—85.1%
- Non-packaged$1.8M—14.9%
Forward guidance
The Company expects to earn approximately $2 million of interest income per quarter for the remainder of 2024 and projects to end 2024 with approximately $155 million in cash and cash equivalents, marketable securities and restricted cash.
Tailwinds
- Expected to earn approximately $2 million of interest income per quarter for the remainder of 2024.
- Project to end 2024 with approximately $155 million in cash and cash equivalents, marketable securities and restricted cash.
- Focusing on identifying, evaluating and potentially executing strategic opportunities.
- Aiming to utilize NOLs and certain other tax attributes to generate substantial value for shareholders.
- Total liabilities expected to remain low as the Company identifies future targets to utilize and leverage its liquid assets.
Headwinds
- Incurred $13 million of general and administrative expenses during the three months ended June 30, 2024.
- Prior operations and the closing of the Asset Sale resulted in $9 million of general and administrative expenses.
- Deferred tax assets (including net operating losses) are currently subject to a full valuation allowance as of June 30, 2024.
- The Company ceased to operate the prior e-commerce business and other historical operations after the Asset Sale.
- There is a risk in failing to develop a viable future business plan or failing to acquire a business or assets and generate revenues.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
-1.5%
Avg return
Earnings day
-4.4%
Avg return
5 days after
-7.5%
Avg return
30 days after
39%
9 / 23 earnings
Positive
+7.8%
Q1 2023
Best reaction
-10.3%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | +1.4% | +15.6% | |
| Q4 2025 | +1.2% | +1.8% | +4.2% | |
| Q4 2026 | +1.2% | +1.8% | +4.2% | |
| Q3 2025 | +0.5% | +0.4% | -1.0% | |
| Q2 2025 | -1.2% | -0.1% | +7.4% | |
| Q1 2025 | +0.0% | +1.5% | -1.5% | |
| Q4 2024 | +6.7% | +6.3% | -6.4% | |
| Q3 2024 | +0.8% | +5.4% | +27.8% | |
| Q2 2024 | +2.7% | +1.7% | -1.1% | |
| Q1 2024 | -2.0% | +3.0% | +1.7% | |
| Q4 2023 | -1.2% | -2.6% | -12.7% | |
| Q3 2023 | -0.9% | +17.8% | +24.4% | |
| Q2 2023 | +5.5% | -21.8% | -33.8% | |
| Q1 2023 | +7.8% | +11.9% | -1.6% | |
| Q4 2022 | +0.4% | -31.6% | -45.6% | |
| Q3 2022 | -7.9% | +13.0% | -9.8% | |
| Q2 2022 | -9.2% | -8.6% | -34.1% | |
| Q1 2022 | -10.1% | -27.0% | -5.3% | |
| Q4 2021 | -4.2% | -19.8% | -5.1% | |
| Q3 2021 | -7.1% | -5.6% | -34.8% | |
| Q2 2021 | -4.3% | -29.3% | -30.8% | |
| Q1 2021 | -2.6% | -25.5% | -15.1% | |
| Q4 2020 | -10.3% | +4.9% | -19.4% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — |
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