ContextLogic Q1 2026 combined revenue flat at $32.4M; net income $17M on $41.9M tax benefit

ContextLogic Holdings Inc.

Combined non-GAAP revenue $32.4M (flat YoY); shipped volumes down 7% to 102.4K tons due to winter storms and Watkins Glen disruptions.
Combined non-GAAP net income $17.0M vs $2.9M YoY, boosted by a $41.9M discrete tax benefit from the US Salt acquisition.
Combined adjusted EBITDA $11.6M vs $12.5M YoY, reflecting ~$1M of new CLHI Corporate costs.
Free cash flow was ($20.6)M vs $1.3M due to acquisition-related transaction expenses.
45.7M weighted average common shares outstanding (public co.); 101.6M total LLC units.

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