Wish's revenue in Q2 was $134 million, and its loss was $90 million, narrowing by 13% year-on-year!

It is learned that Wish announced its Q2 quarterly financial report ending June 30, 2022. The following is a summary of the financial report:

• Revenue: $134 million, down 80% year-over-year
• Core market revenue was $54 million, down 86% year-on-year
• Product Boost revenue was $11 million, down 78% year-over-year
• Logistics revenue was $69 million, down 70% year-on-year

• Net loss: $90 million, up 19% year-over-year
• Net loss per share was $0.13, compared to a loss per share of $0.18 in the same period last year.

• Adjusted EBITDA: Loss of $58 million, up 13% year-over-year
• Cash flow: Cash flow from operating activities was negative $67 million
• Free cash flow was negative $67 million, a significant improvement from negative $205 million in the same period last year.

It is understood that Wis expects an adjusted EBITDA loss of between $110 million and $130 million in the third quarter.

Vijay Talwar, President of Wish, said: "We remain focused on transforming our business and have made some significant improvements in consumer experience, delivery time, and customer service, resulting in improved NPS scores and reduced product refund rates. While we are not immune to changes in consumer spending habits driven by macroeconomic factors, which may hinder our accelerated growth plans in the second half of 2022, we are confident that we can continue to advance our exciting new initiatives, such as continuing to implement Wish's brand rebranding plan and exploring the potential of the women's fashion category."

Editor ✎Estella/

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