ContextLogic Holdings Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
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Condensed Consolidated Statements of Cash Flows
($ in millions)
| Successor · Predecessor | |||
|---|---|---|---|
| Period from February 27, 2026 to September 30, 2026 | Period from January 1, 2026 to February 26, 2026 | Nine Months Ended September 30, 2025 | |
| Cash flows from operating activities: | |||
| Net (loss) income | $(4.4) | $1.7 | $10.6 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||
| Depreciation, depletion and amortization | 23.5 | 2.7 | 11.3 |
| Deferred income tax | (41.8) | — | — |
| Unit/Stock-based compensation | 0.9 | 0.1 | 0.4 |
| Long-term incentive plan expense | 1.7 | — | — |
| Other | 1.1 | 0.2 | 1.2 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (0.8) | (1.3) | 0.7 |
| Inventories | (2.1) | (0.7) | (0.4) |
| Prepaid expenses and other current assets | (0.8) | 0.1 | (0.3) |
| Other inventories | (0.5) | — | (0.8) |
| Accounts payable | (3.1) | (1.0) | (1.1) |
| Operating lease liability | (0.5) | (0.1) | (0.6) |
| Accrued liabilities | 10.7 | 0.1 | 0.2 |
| Net cash (used in) provided by operating activities | (16.1) | 1.8 | 21.2 |
| Cash flows from investing activities: | |||
| Purchases of property, plant and equipment | (4.3) | (1.3) | (6.1) |
| Acquisition of businesses, net of cash acquired | (585.8) | — | — |
| Net cash used in investing activities | (590.1) | (1.3) | (6.1) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock from the backstopped rights offering, net of cost | 25.5 | — | — |
| Proceeds from issuance of subsidiary membership units from the backstopped rights offering | 89.3 | — | — |
| Proceeds from issuance of subsidiary membership units, prior to conversion (Note 15) | 75.0 | — | — |
| Proceeds from issuance of long-term debt | 215.0 | — | — |
| Payment of debt issuance costs | (3.6) | — | — |
| Repayment of principal on term loan | (0.5) | — | (12.7) |
| Repayment of principal of finance lease obligations | (0.1) | — | (0.1) |
| Members' distributions | — | — | (3.5) |
| Proceeds from collection of unit subscription receivable | — | — | 0.1 |
| Repurchase of units | — | — | (0.2) |
| Other | (0.2) | — | — |
| Net cash provided by (used in) financing activities | 400.4 | — | (16.4) |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (205.8) | 0.5 | (1.3) |
| Cash, cash equivalents, and restricted cash at beginning of period | 217.3 | 10.8 | 7.4 |
| Cash, cash equivalents, and restricted cash at end of period | $11.5 | $11.3 | $6.1 |
| Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets: | |||
| Cash and cash equivalents | $9.7 | $11.3 | $6.1 |
| Restricted cash included within prepaid expenses and other current assets in the consolidated balance sheets | 1.8 | — | — |
| Total cash, cash equivalents and restricted cash | $11.5 | $11.3 | $6.1 |
| Supplemental cash flow disclosures: | |||
| Cash paid for income taxes, net of refunds | $— | $— | $— |
| Cash paid for interest | $10.3 | $— | $15.9 |
| Supplemental noncash investing and financing activities: | |||
| Property, plant and equipment in accounts payable | $1.1 | $0.5 | $1.2 |
| Equity exchanged for ownership in US Salt (Note 3) | $325.2 | $— | $— |
| Conversion of redeemable noncontrolling interest to noncontrolling interest (Note 15) | $153.0 | $— | $— |
|---|---|---|---|
| Right-of-use assets obtained in exchange for lease liabilities: | |||
| Operating leases | $— | $— | $0.3 |
| Finance leases | $0.7 | $— | $0.1 |
Notes to Unaudited Condensed Consolidated Financial Statements
NOTE 1. DESCRIPTION OF BUSINESS
ContextLogic Holdings Inc. is a business ownership platform designed from first principles to combine the structural advantages of permanent public capital with the operating discipline, alignment, and long-term orientation typically associated with private ownership. ContextLogic's mission is to build a portfolio of high-quality, niche, and competitively advantaged businesses that generate sustainable, growing free cash flow that can be reinvested over long time horizons.
ContextLogic Holdings Inc. and its consolidated subsidiaries are referred to herein collectively as "ContextLogic," the "Company," "we," "our," or "us."
The US Salt Acquisition
On February 26, 2026, ContextLogic Holdings, LLC, a Delaware limited liability company and majority owned subsidiary (“Holdings”) acquired US Salt Parent Holdings, LLC, a New York based company ("US Salt"), pursuant to the terms of the Purchase Agreement ("Purchase Agreement", such acquisition the "US Salt Acquisition"). US Salt is a leading producer, packager, and distributor of evaporated and specialty salt products originally founded in 1893. The US Salt Acquisition is accounted for as a business combination under Accounting Standards Codification ("ASC") Topic 805, Business Combinations, using the acquisition method of accounting, and ContextLogic has been determined to be the accounting acquirer. Refer to Note 3, Business Combinations, for more information.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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