Business
ThredUp Announces First Quarter 2025 Results
All results reported are for continuing operations, unless otherwise noted. Record quarterly revenue of $71.3 million, representing an increase of 10%
About this update from Thredup Inc.
[{"type":"text","content":"All results reported are for continuing operations, unless otherwise noted. Record quarterly revenue of $71.3 million, representing an increase of 10% year-over-yearQuarterly gross margin of 79.1% and an increase in gross profit of 9% year-over-yearActive Buyers of 1.37 million, representing growth of 6% year-over-year, with new buyer growth of 95% year-over-year, reflecting ThredUp’s best quarter for new buyer acquisition in its historyEnded the quarter with cash, restricted cash, and investments of $55.4 million, up $2.6 million dollars from the previous quarterIssued a revised full year 2025 financial outlook, raising expectations for Revenue and Adjusted EBITDA margin OAKLAND, Calif., May 05, 2025 (GLOBE NEWSWIRE) -- ThredUp Inc. (Nasdaq: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, announced today its financial results for the first quarter ended March 31, 2025 and updated full year 2025 financial outlook. “We are proud to deliver Q1 out-performance, including a record quarter for new buyer acquisition,” said ThredUp CEO and co-founder James Reinhart. “With momentum in our marketplace, we are pleased to be raising our full year outlook while we continue to improve the product experience for both buyers and sellers.” First Quarter 2025 Financial Highlights1 Revenue: Revenue totaled $71.3 million, an increase of 10% year-over-year.Gross Profit and Gross Margin: Gross profit totaled $56.4 million, an increase of 9% year-over-year. Gross margin was 79.1% as compared to 80.1% in the first quarter last year.Loss from Continuing Operations: Loss from continuing operations was $5.2 million, or a negative 7.3% of revenue, for the first quarter 2025, compared to a loss from continuing operations of $12.2 million, or a negative 18.9% of revenue, for the first quarter last year.Adjusted EBITDA from Continuing Operations1: Adjusted EBITDA from continuing operations was $3.8 million, or 5.3% of revenue, for the first quarter 2025, compared to $1.9 million, or 2.9% of revenue, for the first quarter last year.Active Buyers and Orders: Active Buyers of 1.37 million and Orders of 1.37 million for the first quarter 2025, representing increases of 6% and 16%, respectively, over the first quarter last year. Recent Business Highlights Launched Shop Social: In April, ThredUp launched an AI-pow...