Loading...
•
Mar 31, 2023
ThredUp Q1 2023 Earnings Report
Reported a 4% increase in revenue year-over-year, with a gross margin of 67.3% and a decrease in active buyers and orders.
Key Takeaways
ThredUp Inc. announced its Q1 2023 financial results, reporting a 4% increase in revenue to $75.9 million. The company's gross margin was 67.3%, with a net loss of $19.8 million. Active Buyers and Orders decreased by 3% and 8% respectively.
Revenue increased by 4% year-over-year, reaching $75.9 million.
Gross margin was 67.3%, with gross profit increasing by 2% year-over-year.
Net loss was $19.8 million, an improvement compared to Q1 2022.
Active Buyers and Orders decreased by 3% and 8% year-over-year, respectively.
ThredUp
ThredUp
Forward Guidance
For the second quarter 2023, thredUP expects revenue in the range of $80 million to $82 million, gross margin in the range of 64.5% to 66.5%, and Adjusted EBITDA loss margin in the range of 9.5% to 7.5%. For the full fiscal year 2023, thredUP expects revenue in the range of $320 million to $330 million, gross margin in the range of 65.0% to 67.0%, and Adjusted EBITDA loss margin in the range of 7.5% to 5.5%.
Positive Outlook
- Revenue in the range of $80 million to $82 million for Q2 2023
- Gross margin in the range of 64.5% to 66.5% for Q2 2023
- Adjusted EBITDA loss margin in the range of 9.5% to 7.5% for Q2 2023
- Revenue in the range of $320 million to $330 million for full year 2023
- Gross margin in the range of 65.0% to 67.0% for full year 2023
Challenges Ahead
- Adjusted EBITDA loss margin in the range of 7.5% to 5.5% for full year 2023
- Uncertainty in the consumer environment
- Impact of inflationary pressures on consumer behavior
- Increased interest rates affecting business
- General global economic uncertainty