ContextLogic Inc. (NASDAQ:WISH) Q1 2024 Earnings Call Transcript

Insider Monkey05-10

ContextLogic Inc. (NASDAQ:WISH) Q1 2024 Earnings Call Transcript May 8, 2024 ContextLogic Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter ( see the ...

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(NASDAQ:WISH) Q1 2024 Earnings Call Transcript May 8, 2024 ContextLogic Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (\nsee the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/contextlogic-inc-nasdaq-wish-q1-180031362.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ContextLogic Inc. 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(NASDAQ:WISH) Q1 2024 Earnings Call Transcript\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-10 02:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/contextlogic-inc-nasdaq-wish-q1-180031362.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ContextLogic Inc. (NASDAQ:WISH) Q1 2024 Earnings Call Transcript May 8, 2024 ContextLogic Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (\nsee the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/contextlogic-inc-nasdaq-wish-q1-180031362.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".IXIC","symbol_name":"NASDAQ Composite","start_time":0,"source_url":"https://finance.yahoo.com/news/contextlogic-inc-nasdaq-wish-q1-180031362.html","article_id":"2434104627","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/x0rHvbPSatgP01L_Zd1GMQ--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/f4f53796b363b584a6e7bbde40599dc0"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2434104627","pubTimestamp":1715277631,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"ContextLogic Inc.  Q1 2024 Earnings Call Transcript May 8, 2024 ContextLogic Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (. Operator: Thank you for standing by and welcome to ContextLogic First Quarter 2024 Earnings Conference Call. During the program today, all participants are in a listen-only mode. As a reminder, today's program is being recorded. And now, I'd now like to introduce your host for today's program Ralph Fong, Director of Investor Relations.Brett Just: Thank you, Ralph. For this quarter, our financial presentation will be a little different. Our earnings press release describes our earnings for the first quarter. And if you want additional details, I encourage you to review that release. However, all of the revenues and earnings disclosed in that release were generated by assets that we no longer own. Qoo10 now owns those assets. Significantly, Qoo10 also has assumed substantially all of the liabilities associated with ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{".IXIC":"NASDAQ Composite","NDAQ":"纳斯达克OMX交易所"},"translate_title":"ContextLogic Inc.（纳斯达克：WISH）Q1 2024年收益看涨期权记录","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".IXIC":1,"NDAQ":1,"WISH":1},"content_text":"ContextLogic Inc. (NASDAQ:WISH) Q1 2024 Earnings Call Transcript May 8, 2024 ContextLogic Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (\nsee the details here). \nOperator: Thank you for standing by and welcome to ContextLogic First Quarter 2024 Earnings Conference Call. During the program today, all participants are in a listen-only mode. As a reminder, today's program is being recorded. And now, I'd now like to introduce your host for today's program Ralph Fong, Director of Investor Relations.\nRalph Fong: Thanks Jonathan. Good afternoon everyone and welcome to ContextLogic's first quarter 2024 update conference call. I am Ralph Fong, Director of Investor Relations, and providing remarks on the call today are Chairman -- Chairperson and CEO; Rishi Bajaj; and our CFO, Brett Just. The remarks made today may include forward-looking statements, including with respect to the recent asset sale to Q10 and related matters The remarks made today may include forward-looking statements, including with respect to the recent asset sale to Qoo10 and related matters. Our actual results may differ materially from the results implied by these forward-looking statements as certain risks materialize or assumptions prove incorrect. Forward-looking statements are based on our current expectations and assumptions and involve risks and uncertainties that could cause actual results or events to be materially different from those anticipated.\n\nAdditional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements are and will be contained from time-to-time in our SEC filings, including on Forms 10-Q, 10-K, and 8-K. Any forward-looking statements that we make today are only as of today's date, and we undertake no obligation to update or revise any such statements as a result of new information, future events, or otherwise. Also, please keep in mind that included in the financial statements and management's prepared remarks during the call are both GAAP and non-GAAP financial numbers and metrics. A reconciliation of non-GAAP to GAAP results is included in today's earnings release, which you can find on our Investor Relations' website and which is also filed with the SEC.\nA replay of this call will be posted to our Investor Relations' website. With that, let me now turn the call over to our CFO, Brett Just, to provide a financial overview. Brett?\nBrett Just: Thank you, Ralph. For this quarter, our financial presentation will be a little different. Our earnings press release describes our earnings for the first quarter. And if you want additional details, I encourage you to review that release. However, all of the revenues and earnings disclosed in that release were generated by assets that we no longer own. Qoo10 now owns those assets. Significantly, Qoo10 also has assumed substantially all of the liabilities associated with those assets. So, instead of discussing historical results, I thought it would be more helpful to talk about our financial picture today. After the asset sale to Qoo10 closed on April 19th, ContextLogic had approximately $2.7 billion of NOL carryforwards and approximately $161 million in cash, cash equivalents and marketable securities, which consist of government securities. See also\n\n12 Good Cheapest Cigarette Brands In 2024 and\n\n15 Countries with English as Official Language in the World.\nTo continue reading the Q&A session, please click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2434104627"}