Q1 2025 ContextLogic Inc Earnings Call
Speaker Change: 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 companies take undertakes no obligation to update any such forward looking statements.
Speaker Change: Please also note that the past performance is not a guarantee of future results.
Speaker Change: This call there will be reference to certain non I F. R S and non-GAAP financial measures.
Speaker Change: 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 U S dollars I will now turn the call.
Rishi: Over to the host of today's call Rishi, but Josh CEO of context logic, Mr. Josh you may begin.
Speaker Change: Good afternoon, I would like to briefly highlight our operating results for the quarter ended March 31 2020.
Speaker Change: 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, we can call to help fund future acquisition.
Speaker Change: We incurred $6 million of G&A expenses, which include $2 million of expenses related to the valuation of preceding potential transaction, including the BC partners strategic investment.
Speaker Change: <unk> 3 million of costs directly related to the BC partners investment, which are recorded as stock issuance costs.
Speaker Change: This implies that we expanded approximately 5 million of cash and transaction related costs during the quarter. Our cash expenses were offset by interest income of approximately $2 million.
Speaker Change: We closed the quarter with $222 million in cash cash equivalents marketable securities, which includes a $75 million, we raised from BC partners.
Speaker Change: This compares to $149 million at the end.
Speaker Change: Fiscal year 2024, as evidenced by our limited cash burn we are committed to keeping 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.
Speaker Change: Since BC partners closed the strategic investment in content budget had gulfport and the BC partners teams at work daily with content library to identify growth and acquisition opportunities. We have been overwhelmed by the effort in BC partners, expanding our pipeline of opportunity.
Speaker Change: <unk>, our capabilities and we're extremely encouraged by the Receptiveness of potential partners as well as the quality of inbound outreach Ted and I are excited to share more with you in the coming quarters as we make progress along our growth strategy.
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Speaker Change: 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.
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