ThredUp Q3 2022 Earnings Report
Key Takeaways
ThredUp reported a 7% year-over-year increase in revenue, reaching $67.9 million for Q3 2022. The company's active buyers and orders also saw significant growth, increasing by 18% and 24%, respectively. However, the company experienced a decline in gross profit and an increased net loss compared to the same quarter last year.
Revenue reached $67.9 million, a 7% increase year-over-year.
Gross margin was 65.5%, with gross profit declining 3% year-over-year.
Active Buyers totaled 1.7 million, growing 18% year-over-year.
Orders amounted to 1.6 million, reflecting a 24% increase year-over-year.
ThredUp
ThredUp
ThredUp Revenue by Segment
Forward Guidance
For the fourth quarter 2022, thredUP expects revenue in the range of $62 million to $64 million, gross margin in the range of 62.0% to 64.0%, and Adjusted EBITDA loss margin in the range of 16.5% to 14.5%. For the full fiscal year 2022, thredUP expects revenue in the range of $279 million to $281 million, gross margin in the range of 66.5% to 67.0%, and Adjusted EBITDA loss margin in the range of 17.0% to 16.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income