Business
thredUP Announces Fourth Quarter and Full Year 2021 Results
All-time quarterly revenue high of $72.9 million, representing 68% growth year-over-year. Fourth quarter gross margin of 66% and gross profit growth of 62%
About this update from Thredup Inc.
[{"type":"text","content":"All-time quarterly revenue high of $72.9 million, representing 68% growth year-over-year. Fourth quarter gross margin of 66% and gross profit growth of 62% year-over-year.Annual revenue of $251.8 million, representing 35% growth year-over-year. Annual gross margin of 70.7% and gross profit growth of 39% year-over-year.Record number of Active Buyers of 1.7 million and Orders of 1.7 million in Q4 2021, representing growth of 36% and 69% year-over-year, respectively. Record annual orders of 5.3 million, representing growth of 34% year-over-year.Remix acquisition closed in Q4 2021, kickstarting our international expansion.Established new Resale-as-a-Service (RaaS) programs with adidas, Crocs, and Michael Stars. OAKLAND, Calif., March 07, 2022 (GLOBE NEWSWIRE) -- ThredUp Inc. (Nasdaq: TDUP), one of the largest online resale platforms for women’s and kids’ apparel, shoes, and accessories, announced today its preliminary financial results for the fourth quarter and full year ended December 31, 2021. “We ended our first year as a public company with another quarter of strong financial performance,” said James Reinhart, CEO and co-founder at thredUP. “In 2022, we expect our continued investment in our infrastructure both domestically and internationally will enable us to keep building the foundation for the future of resale on the internet.” Fourth Quarter 2021 Financial Highlights Revenue: Total revenue of $72.9 million, an increase of 68% year-over-year.Gross Profit and Gross Margin: Gross profit totaled $48.2 million representing growth of 62% year-over-year. Gross margin was 66.1% as compared to 68.5% in the fourth quarter last year largely due to the Q4 acquisition of Remix.Net Loss: The GAAP net loss was $17.9 million, or 24.6% of revenue, for the fourth quarter 2021, compared to a GAAP net loss of $17.0 million, or 39.1% of revenue, for the fourth quarter 2020.Adjusted EBITDA and EBITDA Margin: The Adjusted EBITDA loss was $10.5 million, or 14.5% of revenue, for the fourth quarter 2021, compared to the Adjusted EBITDA loss of $12.2 million, or 28.2% of revenue, for the fourth quarter 2020.Active Buyers and Orders: Active Buyers of 1.7 million and Orders of 1.7 million growing 36% and 69%, respectively, over the comparable quarter last year. Full Year 2021 Financial Highlights Revenue: Total revenue of $251.8 million, an increase o...