
Financial Performance - Net loss for Q4 2024 was $2 million, a significant improvement compared to a net loss of $68 million in Q4 2023, representing a reduction of approximately 97%[9] - Revenue for the year ended December 31, 2024, was $43 million, down from $287 million in 2023, indicating a decline of approximately 85%[14] - The company reported a gross profit of $9 million for Q4 2024, compared to $7 million in Q4 2023, reflecting a year-over-year increase of about 29%[14] - Net loss for the three months ended December 31, 2024, was $2 million, compared to a net loss of $68 million for the same period in 2023[16] Cash and Liquidity - As of December 31, 2024, the company had $66 million in cash and cash equivalents and $83 million in marketable securities, totaling $149 million in liquid assets[12] - The company has approximately $225 million in liquidity available for investment, including a recent $75 million investment from BC Partners[2] - Total cash, cash equivalents, and restricted cash at the end of the period was $73 million, down from $238 million at the end of the previous year[16] - The company reported a net increase in cash, cash equivalents, and restricted cash of $33 million for the three months ended December 31, 2024[16] Expenses and Liabilities - The company incurred $4 million in general and administrative expenses during Q4 2024, primarily due to legal and employee expenses[5] - Total liabilities decreased to $5 million as of December 31, 2024, down from $206 million in 2023, indicating a reduction of approximately 98%[12] - Cash used in operating activities for the year ended December 31, 2024, was $94 million, a decrease from $341 million in 2023[16] Investments and Marketable Securities - Purchases of marketable securities for the year ended December 31, 2024, totaled $168 million, down from $313 million in 2023[16] - Maturities of marketable securities for the year ended December 31, 2024, were $228 million, compared to $390 million in 2023[16] - Cash disposed on asset sale, net of proceeds, was $133 million for the year ended December 31, 2024[16] Operational Structure - ContextLogic had eight full-time employees at the end of Q4 2024, reflecting a streamlined operational structure[5] - The company is focusing on strategic opportunities for growth through potential acquisitions and investments[4] Interest Income - Interest income for Q4 2024 was $2 million, with investments primarily in U.S. government instruments[6] Stock-Based Compensation - Stock-based compensation expense for the three months ended December 31, 2023, was $10 million, compared to $64 million for the same period in 2022[16] Cash Flow from Activities - Cash provided by investing activities for the three months ended December 31, 2024, was $35 million, compared to a net cash used of $1 million in the same period of 2023[16] - Cash paid for income taxes, net of refunds, was $1 million for the year ended December 31, 2023[16]