ContextLogic Inc. (WISH) has been grappling with a significant downfall in its monthly active users (MAUs) and revenues post-pandemic. Its MAU stands at 24 million. Unlike the general post-pandemic slowdown faced by e-commerce businesses, WISH finds itself particularly precarious.
For the fiscal first quarter, the company reported revenues of $96 million, signifying a steep 49.2% year-over-year decline. Its net loss has also amplified – registering at $89 million versus the preceding year’s quarter loss of $60 million. Furthermore, net loss per share increased to $3.83 from $2.72. The company also reported a negative free cash flow of $92 million.
