ThredUp Inc. TDUP

Consumer discretionary SIC 5961 - Retail-Catalog & Mail-Order Houses NAICS Retail Trade derived Nasdaq

ThredUp operates one of the world's largest online resale platforms for apparel, shoes and accessories. Our mission is to inspire the world to think secondhand first. We believe in a sustainable fashion future and we are proud that our business model creates a positive impact to the benefit of our buyers, sellers, clients, employees, investors and the environment. Our custom-built operating platform consists of distributed processing infrastructure, proprietary software and systems and data science expertise. This platform is powering the rapidly emerging resale economy, one of the fastest growing sectors in retail, according to GlobalData's assessment of the secondhand market in January 2025.

Last close 2.00 2026-10-23
Market cap $259.7M estimated share count
52-week range 1.98 - 9.45

Valuation FY2025 figures against the last close

P/S0.8x
P/E—
P/FCF1,442.8x
EV/EBITDA—
Dividend yield—
Diluted EPS-0.17

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $310.8M$260.0M$258.5M$288.4M$251.8M$186.0M$163.8M—
Cost of revenue $64.1M$52.9M$60.0M$96.0M$73.7M$57.9M$51.3M—
Gross profit $246.8M$207.1M$198.5M$192.3M$178.1M$128.1M$112.5M—
R&D $32.1M$31.3M$32.6M$37.6M$28.7M$20.7M$19.0M—
SG&A $56.7M$56.9M$56.7M$61.8M$48.8M$28.6M$22.3M—
Total operating expenses $268.5M$247.7M$251.5M$281.8M$240.5M$174.7M$149.3M—
Operating income -$21.7M-$40.6M-$53.0M-$89.5M-$62.4M-$46.6M-$36.8M—
Interest expense $1.9M$2.5M$2.2M$805.0K$2.3M$1.3M$1.4M—
Pre-tax income -$20.2M-$40.0M-$52.3M-$92.2M-$63.1M-$47.8M-$38.2M—
Income tax $59.0K$29.0K$19.0K$35.0K$80.0K$56.0K$36.0K—
Net income -$20.2M-$77.0M-$71.2M-$92.3M-$63.2M-$47.9M-$38.2M—
EPS, basic -0.17-0.69-0.68-0.92-0.82-4.14-3.72—
EPS, diluted -0.17-0.69-0.68-0.92-0.82-4.14-3.72—
Shares, diluted (wtd. avg.) 121.7M112.0M104.9M99.8M77.1M11.6M10.3M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $38.6M$31.9M$61.5M$44.1M$91.8M$67.5M$87.9M$8.0M
Short-term investments $9.5M$12.3M$8.1M$66.9M$121.3M$0——
Receivables $2.4M$3.6M$5.0M$4.7M$4.1M$1.8M——
Inventory —$690.0K$2.8M$17.5M$9.8M$3.5M——
Total current assets $56.7M$56.9M$93.9M$134.2M$228.4M$75.2M——
Property, plant and equipment $67.2M$68.5M$77.8M$92.5M$55.5M$41.1M——
Goodwill $10.7M$10.7M$11.2M$11.6M$12.2M$0——
Other intangibles ——$8.2M$10.5M$13.9M$0——
Total assets $167.2M$171.2M$250.0M$301.9M$360.8M$142.9M——
Accounts payable $10.3M$8.3M$3.8M$7.8M$13.3M$9.4M——
Short-term debt $3.9M$3.9M$3.8M$3.9M$7.8M$3.3M——
Total current liabilities $62.4M$61.5M$76.7M$84.4M$89.4M$62.6M——
Long-term debt $14.3M$18.2M$22.0M$25.8M$27.6M$31.2M——
Total liabilities $108.1M$114.9M$146.1M$161.9M$155.1M$118.0M——
Retained earnings -$576.1M-$555.9M-$478.9M-$407.6M-$315.3M-$252.2M——
Total equity $59.2M$56.3M$103.9M$140.0M$205.7M-$222.2M-$183.2M-$153.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $10.7M$4.9M-$9.8M-$52.1M-$35.0M-$19.1M-$10.1M—
Depreciation and amortisation $12.9M$17.3M$14.2M$14.0M$9.2M$5.6M$4.3M—
Stock-based compensation $19.0M$25.8M$29.7M$26.8M$13.0M$7.3M$7.7M—
Capital expenditure $10.5M$6.6M$13.1M$43.3M$19.8M$19.4M$9.5M—
Investing cash flow -$7.2M-$10.3M$46.6M$8.9M-$169.6M-$19.4M-$1.3M—
Financing cash flow -$397.0K-$4.4M-$3.6M-$3.9M$229.0M$18.2M$91.2M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001484778-26-000007.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M Revenue, FY2019: 163.8M Gross profit, FY2019: 112.5M Net income, FY2019: -38.2M Revenue, FY2020: 186M Gross profit, FY2020: 128.1M Net income, FY2020: -47.9M Revenue, FY2021: 251.8M Gross profit, FY2021: 178.1M Net income, FY2021: -63.2M Revenue, FY2022: 288.4M Gross profit, FY2022: 192.3M Net income, FY2022: -92.3M Revenue, FY2023: 258.5M Gross profit, FY2023: 198.5M Net income, FY2023: -71.2M Revenue, FY2024: 260M Gross profit, FY2024: 207.1M Net income, FY2024: -77M Revenue, FY2025: 310.8M Gross profit, FY2025: 246.8M Net income, FY2025: -20.2M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $163.8M $186.0M $251.8M $288.4M $258.5M $260.0M $310.8M
Gross profit — $112.5M $128.1M $178.1M $192.3M $198.5M $207.1M $246.8M
Net income — -$38.2M -$47.9M -$63.2M -$92.3M -$71.2M -$77.0M -$20.2M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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