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Jun 30, 2023
ThredUp Q2 2023 Earnings Report
ThredUp's Q2 2023 financial results were announced, showcasing revenue growth and improved profitability.
Key Takeaways
ThredUp reported an 8% year-over-year increase in revenue, reaching $82.7 million. The company's gross margin was 67.4%, with gross profit increasing by 6% year-over-year. Net loss improved to $18.8 million, and the adjusted EBITDA loss was $5.0 million.
Revenue increased by 8% year-over-year, reaching $82.7 million.
Gross margin was 67.4%, with gross profit up by 6% year-over-year.
Active Buyers totaled 1.7 million, while Orders reached 1.8 million.
Expanded Resale-as-a-Service (RaaS) offering with a dozen new resale programs.
Forward Guidance
For the third quarter 2023, thredUP expects: Revenue in the range of $82.0 million to $84.0 million, Gross margin in the range of 66.5% to 68.5%, Adjusted EBITDA loss margin in the range of 6.5% to 4.5%. For the fourth quarter 2023, thredUP expects: Revenue in the range of $84.5 million to $86.5 million, Gross margin in the range of 64.5% to 66.5%, Breakeven Adjusted EBITDA margin. For the full fiscal year 2023, thredUP expects: Revenue in the range of $325.0 million to $329.0 million, Gross margin in the range of 66.5% to 67.5%, Adjusted EBITDA loss margin in the range of 5.5% to 4.5%.
Positive Outlook
- Revenue in the range of $82.0 million to $84.0 million for Q3 2023.
- Gross margin in the range of 66.5% to 68.5% for Q3 2023.
- Adjusted EBITDA loss margin in the range of 6.5% to 4.5% for Q3 2023.
- Revenue in the range of $84.5 million to $86.5 million for Q4 2023.
- Breakeven Adjusted EBITDA margin for Q4 2023.
Challenges Ahead
- Adjusted EBITDA loss margin in the range of 6.5% to 4.5% for Q3 2023.
- Revenue in the range of $325.0 million to $329.0 million for the full fiscal year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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