ContextLogic Inc., operating as Wish, announced the completion of its 2023 Annual Report, which includes financial statements and a comprehensive summary of the company's performance. The report details an Accounting Restatement due to material noncompliance with financial reporting requirements. As a result, the company has implemented a Policy for the Recovery of Erroneously Awarded Compensation, requiring executive officers to repay any compensation erroneously awarded based on the inaccurate financial statements. The report also outlines the company's financial results, showing a net loss of $317 million for the year, with a decrease in revenue by 50% to $287 million compared to the previous year. The company attributes the decline to reduced marketplace and logistics revenue due to lower order volumes. The report further discusses the company's liquidity, capital resources, and the effectiveness of internal controls over financial reporting, which were not effective due to identified material weaknesses. The company's stock, WISH.US, is listed on the Nasdaq Global Select Market.

ContextLogic Inc., operating as Wish, announced the completion of its 2023 Annual Report, which includes financial statements and a comprehensive summary of the company's performance. The report details an Accounting Restatement due to material noncompliance with financial reporting requirements. As a result, the company has implemented a Policy for the Recovery of Erroneously Awarded Compensation, requiring executive officers to repay any compensation erroneously awarded based on the inaccurate financial statements. The report also outlines the company's financial results, showing a net loss of $317 million for the year, with a decrease in revenue by 50% to $287 million compared to the previous year. The company attributes the decline to reduced marketplace and logistics revenue due to lower order volumes. The report further discusses the company's liquidity, capital resources, and the effectiveness of internal controls over financial reporting, which were not effective due to identified material weaknesses. The company's stock, WISH.US, is listed on the Nasdaq Global Select Market.