Contextlogic Inc (LOGC) 2025 Q1 法說會逐字稿

Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to Contextlogic's first-quarter 2025 earnings conference call. (Operator Instructions) However, a recording and transcript will be made available online, and management will make themselves available to the investor community over the coming weeks.

女士們、先生們，下午好，感謝你們的到來。歡迎參加 Contextlogic 2025 年第一季財報電話會議。（操作員指示）但是，錄音和文字記錄將在網上提供，管理層將在未來幾週內向投資者社區提供資訊。

Except for historical information, the matters discussed during this call may include forward-looking statements within the meaning of the applicable US securities legislation. Forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from estimated future results, performance or achievements expressed or implied by those forward-looking statements.

除歷史資訊外，本次電話會議討論的事項可能包括適用美國證券立法含義內的前瞻性陳述。前瞻性陳述涉及已知和未知的風險和不確定性以及其他因素，可能導致實際財務結果、績效或成就與前瞻性陳述表達或暗示的估計未來結果、績效或成就有重大差異。

All forward-looking statements reflect each of the company's current views with respect to future events and are subject to risks and uncertainties, and assumptions have been made in drawing the conclusions included in such forward-looking statements. All statements other than historical facts are forward-looking statements. Actual results could differ materially, and the company undertakes no obligation to update any such forward-looking statements. Please also note that the past performance is not a guarantee of future results.

所有前瞻性陳述均反映公司目前對未來事件的看法，並受風險和不確定性的影響，並且在得出此類前瞻性陳述中的結論時已做出假設。除歷史事實之外的所有陳述均為前瞻性陳述。實際結果可能存在重大差異，本公司不承擔更新任何此類前瞻性陳述的義務。另請注意，過去的表現並不能保證未來的結果。

During this call, there will be reference to certain non-IFRS and non-GAAP financial measures, which should not be considered in isolation from or as a substitute for measures prepared in accordance with international financial reporting standards or generally accepted accounting principles. As a reminder, all figures, unless otherwise noted, will be in US dollars.

在本次電話會議中，我們將參考某些非國際財務報告準則和非公認會計準則財務指標，但這些指標不應孤立地看待，也不應取代根據國際財務報告準則或公認會計原則編制的指標。提醒一下，除非另有說明，所有數字均以美元為單位。

I will now turn the call over to the host of today's call, Rishi Bajaj, CEO of Contextlogic. Mr. Bajaj, you may begin.

現在，我將把電話交給今天的主持人，Contextlogic 執行長 Rishi Bajaj。巴賈傑先生，您可以開始。

Good afternoon. I would like to briefly highlight our operating results for the quarter ended March 31, 2025. In Q1 2025, we raised $75 million in cash from BC Partners through an investment in a subsidiary of the company, which also included a company option for an additional $75 million that we can call to help fund the future acquisition. We incurred $6 million of G&A expenses, which include $2 million of expenses related to the evaluation and pursuit of the potential transactions, including the BC Partners strategic investment.

午安.我想簡要介紹一下我們截至 2025 年 3 月 31 日的季度經營業績。2025 年第一季度，我們透過投資 BC Partners 的一家子公司籌集了 7,500 萬美元現金，其中還包括額外 7,500 萬美元的公司選擇權，我們可以調用這筆資金來資助未來的收購。我們產生了 600 萬美元的 G&A 費用，其中包括 200 萬美元與評估和尋求潛在交易（包括 BC Partners 策略投資）相關的費用。

We incurred $3 million of costs directly related to the BC Partners investments which are recorded as stock issuance costs. This implies that we expended approximately $5 million of cash on transaction-related costs during the quarter. Our cash expenses were offset by interest income of approximately $2 million.

我們發生了與 BC Partners 投資直接相關的 300 萬美元成本，這些成本被記錄為股票發行成本。這意味著我們在本季度花費了大約 500 萬美元現金用於交易相關成本。我們的現金支出被約 200 萬美元的利息收入所抵銷。

We closed the quarter with $222 million of cash, cash equivalent, and marketable securities, which includes the $75 million we raised from BC Partners. This compares to $149 million at the end of fiscal year 2024. As evidenced by our limited cash burden, we are committed to keeping cash expenses low in order to leave us with the most cash possible to grow and create, both organically and through acquisition, a strong and durable business.

本季結束時，我們擁有 2.22 億美元的現金、現金等價物和有價證券，其中包括從 BC Partners 籌集的 7,500 萬美元。相較之下，2024 財年末這一數字為 1.49 億美元。從我們有限的現金負擔可以看出，我們致力於保持較低的現金支出，以便讓我們擁有盡可能多的現金，透過有機成長和收購來發展和創造強大而持久的業務。

Since BC Partners closed the strategic investment in Contextlogic, Ted Goldthorpe and the BC Partners team have worked daily with Contextlogic to identify growth and acquisition opportunities. We have been overwhelmed by the effort from BC Partners in expanding our pipeline of opportunities and enhancing our capabilities, and we're extremely encouraged by the receptiveness of the potential partners as well as the quality of inbound outreach.

自從 BC Partners 完成對 Contextlogic 的策略性投資以來，Ted Goldthorpe 和 BC Partners 團隊每天都與 Contextlogic 合作，尋找成長和收購機會。BC Partners 在拓展我們的機會管道和增強我們的能力方面所做的努力令我們深受感動，潛在合作夥伴的接受度以及入站推廣的品質令我們深受鼓舞。

Ted and I are excited to share more with you in the coming quarters as we make progress along the growth strategy.

隨著我們在成長策略上取得進展，泰德和我很高興在接下來的幾季與大家分享更多。

Ladies and gentlemen, this does conclude today's conference call. Again, thank you very much for joining us today. You may all disconnect and have a wonderful day. Goodbye.

女士們、先生們，今天的電話會議到此結束。再次感謝您今天加入我們。大家可以斷開連線並度過美好的一天。再見。