ContextLogic Holdings Inc.

For the period ended Mar 31, 2026. Filed May 15, 2026.

About this filing

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.

Mar 31, 2026 · Filed May 15, 2026

LOGC$7.97-0.9%Stored close · as of Sep 19, 2025

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Contents

Condensed Consolidated Statements of Stockholders’ Equity

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS' EQUITY

($ in millions, units in thousands)

	Predecessor
Class A Member Units · Class B Member Units · Subscription Note Receivable · Accumulated Deficit · Noncontrolling parent interest · Total Members' Equity
Units · Amount · Units · Amount
Balances as of January 1, 2025	191.0	$184.5	2.2	$1.2	$(0.2)	$(10.2)	$1.7	$177.0
Members' distributions	—	(1.4)	—	—	—	—	—	(1.4)
Collection of subscription note receivable	—	—	—	—	0.1	—	—	0.1
Unit-based compensation expense	—	—	0.7	0.1	—	—	—	0.1
Repurchase of units	—	—	(0.2)	(0.2)	—	—	—	(0.2)
Net income	—	—	—	—	—	2.9	—	2.9
Balances as of March 31, 2025	191.0	$183.1	2.7	$1.1	$(0.1)	$(7.3)	$1.7	$178.5

	Predecessor
Class A Member Units · Class B Member Units · Subscription Note Receivable · Retained Earnings · Noncontrolling parent interest · Total Members' Equity
Units · Amount · Units · Amount
Balances as of January 1, 2026	190.9	$181.0	3.4	$1.5	$(0.1)	$1.0	$1.8	$185.2
Collection of subscription note receivable	—	—	—	—	0.1	—	—	0.1
Unit-based compensation expense	—	—	0.4	0.1	—	—	—	0.1
Net income	—	—	—	—	—	1.7	—	1.7
Balances as of February 26, 2026	190.9	$181.0	3.8	$1.6	$—	$2.7	$1.8	$187.1

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

($ in millions, shares in thousands)

	Successor
Common Stock · Additional Paid-in Capital · Accumulated Other Comprehensive Loss · Accumulated Deficit · Noncontrolling interest · Total Stockholders' Equity
Shares · Amount
Balances as of February 27, 2026	26,941.2	$—	$3,484.3	$—	$(3,352.8)	$—	$131.5
Issuance of common stock upon settlement of restricted stock units	90.3	—	—	—	—	—	—
Stock-based compensation	—	—	0.5	—	—	—	0.5
Net income	—	—	—	—	15.3	—	15.3
Issuance of common stock - US Salt Acquisition	15,480.4	—	123.9	—	—	—	123.9
Issuance of Noncontrolling interest - US Salt Acquisition	—	—	—	—	—	201.4	201.4
Issuance of common stock - Rights Offering	3,218.6	—	25.5	—	—	—	25.5
Issuance of subsidiary membership units - Rights Offering backstop	—	—	—	—	—	89.3	89.3
Conversion of redeemable noncontrolling interest to noncontrolling interest	—	—	—	—	—	153.0	153.0
Deferred taxes arising from changes in ownership	—	—	1.2	—	—	—	1.2
Balances as of March 31, 2026	45,730.5	$—	$3,635.4	$—	$(3,337.5)	$443.7	$741.6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

Successor · Predecessor
	Period from February 27, 2026 to March 31, 2026	Period from January 1, 2026 to February 26, 2026	Three Months Ended March 31, 2025
Cash flows from operating activities:
Net income	$15.3	$1.7	$2.9
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation, depletion, and amortization	3.3	2.7	3.7
Deferred income tax	(41.9)	—	—
Amortization of debt issuance cost	—	0.1	0.2
Unit/Stock-based compensation	0.5	0.1	0.1
Non-cash lease expense	0.1	0.1	0.2
Other	0.2	—	—
Changes in operating assets and liabilities:
Accounts receivable, net	(0.1)	(1.3)	0.5
Inventory	0.2	(0.7)	(0.8)
Prepaid expenses and other current assets	(0.7)	0.1	0.3
Other inventories	—	—	(0.2)
Accounts payable	(2.7)	(1.0)	(0.9)
Operating lease liabilities	(0.1)	(0.1)	(0.2)
Accrued liabilities	5.5	0.1	(1.9)
Net cash (used in) provided by operating activities	(20.4)	1.8	3.9
Cash flows from investing activities:
Purchases of property, plant and equipment	(0.7)	(1.3)	(2.6)
Acquisition of US Salt, net of cash acquired	(585.2)	—	—
Net cash (used in) investing activities	(585.9)	(1.3)	(2.6)
Cash flows from financing activities:
Proceeds from issuance of common stock from the backstopped rights offering	25.7	—	—
Payment of rights offering costs	(0.2)	—	—
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 14)	75.0	—	—
Proceeds from issuance of long-term debt	215.0	—	—
Payment of debt issuance costs	(3.6)	—	—
Repayment of principal on term loan	—	—	(0.6)
Member's distributions	—	—	(1.4)
Repurchase of units	—	—	(0.2)
Other	(0.2)
Net cash provided by (used in) financing activities	401.0	—	(2.2)
Net (decrease) increase in cash and cash equivalents	(205.3)	0.5	(0.9)
Cash and cash equivalents at beginning of period	217.3	10.8	7.4
Cash and cash equivalents at end of period	$12.0	$11.3	$6.5
Supplemental cash flow disclosures:
Cash paid for income taxes, net of refunds	$—	$—	$—
Cash paid for interest	$—	$—	$5.4
Supplemental noncash investing and financing activities:
Property, plant and equipment in accounts payable	$0.5	$0.5	$0.5
Equity exchanged for ownership in US Salt (Note 2)	$325.2	$—	$—
Conversion of redeemable noncontrolling interest to noncontrolling interest (Note 14)	$153.0	$—	$—

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.