$LOGC

ContextLogic Holdings Inc.

CIK:0002064307|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	2 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	Feb. 26, 2026	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 20,300,000	$ 33,600,000	$ 33,800,000	$ 45,700,000	$ 66,100,000
Cost of sales	13,200,000	21,100,000	20,100,000	29,400,000	40,500,000
Gross profit	7,100,000	12,500,000	13,700,000	16,300,000	25,600,000
Operating expenses:
Selling expense	700,000	1,000,000	1,000,000	1,400,000	2,000,000
General and administrative	1,600,000	11,700,000	2,400,000	19,200,000	5,000,000
Transaction expenses	100,000	1,800,000	200,000	22,500,000	200,000
Total operating expenses	2,400,000	14,500,000	3,600,000	43,100,000	7,200,000
(Loss) income from operations	4,700,000	(2,000,000)	10,100,000	(26,800,000)	18,400,000
Other income (expenses)
Interest and other income	0	100,000	0	100,000	0
Interest and other expense, net	(3,000,000)	(4,400,000)	(5,400,000)	(6,200,000)	(10,800,000)
(Loss) income before benefit from income taxes	1,700,000	(6,300,000)	4,700,000	(32,900,000)	7,600,000
Benefit from income taxes	0	0	0	(41,900,000)	0
Net (loss) income	1,700,000	(6,300,000)	4,700,000	9,000,000	7,600,000
Net (loss) attributable to noncontrolling interest (Note 15)	0	0	0	0	0
Net (loss) income attributable to common stockholders	$ 1,700,000	$ (6,300,000)	$ 4,700,000	$ 9,000,000	$ 7,600,000
Net (loss) income per share attributable to common stockholders, basic	$ 8.91	$ (0.14)	$ 24.62	$ 0.2	$ 39.81
Net (loss) income per share attributable to common stockholders, diluted	$ 8.91	$ (0.14)	$ 24.62	$ 0.2	$ 39.81
Weighted-average shares used in computing net income per share attributable to common stockholders, basic	190,900	45,737,000	190,900	45,682,000	190,900
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted	190,900	45,737,000	190,900	45,690,000	190,900

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	2 Months Ended	4 Months Ended	6 Months Ended
	Feb. 26, 2026	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 1.7	$ 9.0	$ 7.6
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation, depletion, and amortization	2.7	13.3	7.3
Deferred income tax	0.0	(41.9)	0.0
Unit/Stock-based compensation	0.1	0.6	0.2
Long-term incentive plan expense	0.0	0.8	0.0
Other	0.2	0.7	0.9
Changes in operating assets and liabilities:
Accounts receivable, net	(1.3)	(0.1)	0.2
Inventory	(0.7)	(0.7)	(1.0)
Prepaid expenses and other current assets	0.1	(0.1)	0.7
Other inventories	0.0	(0.2)	(0.3)
Accounts payable	(1.0)	(3.6)	(1.8)
Operating lease liabilities	(0.1)	(0.3)	(0.4)
Accrued liabilities	0.1	2.7	(1.3)
Net cash (used in) provided by operating activities	1.8	(19.8)	12.1
Cash flows from investing activities:
Purchases of property, plant and equipment	(1.3)	(2.3)	(4.2)
Acquisition of businesses, net of cash acquired	0.0	(585.2)	0.0
Net cash (used in) investing activities	(1.3)	(587.5)	(4.2)
Cash flows from financing activities:
Proceeds from issuance of common stock from the backstopped rights offering, net of cost	0.0	25.5	0.0
Proceeds from issuance of subsidiary membership units from the backstopped rights offering	0.0	89.3	0.0
Proceeds from issuance of subsidiary membership units, prior to conversion (Note 15)	0.0	75.0	0.0
Proceeds from issuance of long-term debt	0.0	215.0	0.0
Payment of debt issuance costs	0.0	(3.6)	0.0
Repayment of principal on term loan	0.0	0.0	(4.2)
Repayment of principal of finance leases obligations	0.0	0.0	(0.1)
Member's distributions	0.0	0.0	(3.5)
Proceeds from collection of unit subscription receivable	0.0	0.0	0.1
Repurchase of units	0.0	0.0	(0.2)
Other		(0.2)
Net cash provided by (used in) financing activities	0.0	401.0	(7.9)
Net (decrease) increase in cash and cash equivalents	0.5	(206.3)	(0.0)
Cash and cash equivalents at beginning of period	10.8	217.3	7.4
Cash and cash equivalents at end of period	11.3	11.0	7.4
Supplemental cash flow disclosures:
Cash paid for income taxes, net of refunds	0.0	0.0	0.0
Cash paid for interest	0.0	5.9	10.7
Supplemental noncash investing and financing activities:
Property, plant and equipment in accounts payable	0.5	0.9	0.6
Equity exchanged for ownership in US Salt (Note 3)	0.0	325.2	0.0
Conversion of redeemable noncontrolling interest to noncontrolling interest (Note 15)	$ 0.0	$ 153.0	$ 0.0

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 11.0	$ 10.8
Accounts receivable, net	13.6	12.1
Inventories	13.4	10.9
Prepaid expenses and other current assets	1.7	1.0
Total current assets	39.7	34.8
Property, plant and equipment, net	395.6	321.4
Goodwill	148.0	28.1
Intangibles, net	378.3	16.8
Operating lease right-of-use assets	0.8	1.1
Finance lease right-of-use assets	0.4	0.4
Other inventories	5.4	5.2
Total assets	968.2	407.8
Current liabilities:
Accounts payable	8.9	8.4
Accrued liabilities	9.5	6.4
Current maturities of long- term debt	2.1	2.3
Current portion of operating lease liability	0.6	0.7
Current portion of finance lease liability	0.1	0.1
Total current liabilities	21.2	17.9
Long-term debt, net of current maturities	209.4	203.1
Long- term portion of operating lease liability	0.2	0.5
Long- term portion of finance lease liability	0.3	0.3
Asset retirement obligations	0.8	0.8
Other noncurrent liabilities	0.8	0.0
Total liabilities	232.7	222.6
Commitments and contingencies (Note 14)
Members' equity (Predecessor)
Subscription note receivable		(0.1)
Retained earnings		1.0
Noncontrolling parent interest		1.8
Total Members Equity		185.2
Stockholders' equity (Successor)
Preferred stock, $0.0001 par value: 100,000 shares authorized as of June 30, 2026; No shares issued and outstanding as of June 30, 2026
Common stock, $0.0001 par value: 3,000,000 shares authorized as of June 30, 2026; 45,744 shares issued and outstanding as of June 30, 2026	0.0
Additional paid-in capital	3,635.6
Accumulated deficit	(3,343.8)
Total stockholders' equity	291.8
Noncontrolling interest (Note 15)	443.7
Total members' equity and stockholders' equity	735.5	185.2
Total liabilities, members' equity, and stockholders' equity	$ 968.2	407.8
Class A
Members' equity (Predecessor)
Members capital		181.0
Class B
Members' equity (Predecessor)
Members capital		$ 1.5