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Sep 30, 2023
ThredUp Q3 2023 Earnings Report
ThredUp reported strong financial performance with revenue increase and gross profit growth.
Key Takeaways
ThredUp reported a 21% year-over-year increase in revenue, reaching $82.0 million for Q3 2023. The company's gross profit increased by 27% year-over-year, with a gross margin of 69.0%. Active buyers and orders both saw increases, and the U.S. business achieved adjusted EBITDA breakeven.
Revenue increased by 21% year-over-year, reaching $82.0 million.
Gross profit increased by 27% year-over-year, with a gross margin of 69.0%.
Active Buyers and Orders increased by 4% and 11% year-over-year, respectively, both reaching 1.8 million.
U.S. business reached quarterly adjusted EBITDA breakeven for the first time.
Forward Guidance
For the fourth quarter 2023, thredUP expects revenue in the range of $79.0 million to $81.0 million, gross margin in the range of 61.0% to 63.0%, and adjusted EBITDA loss margin in the range of 2.0% to 0.0%.
Positive Outlook
- Revenue is expected to be between $79.0 million and $81.0 million.
- Gross margin is expected to be between 61.0% and 63.0%.
- Adjusted EBITDA loss margin is expected to be between 2.0% and 0.0%.
- Full year revenue is expected to be between $319.5 million and $321.5 million.
- Full year gross margin is expected to be between 66.2% and 66.7%.
Challenges Ahead
- Revenue is only expected to increase to a maximum of $81 million
- Gross margin expected to decrease to a range of 61.0% to 63.0%.
- Adjusted EBITDA loss margin expected to remain negative, between 2.0% and 0.0%.
- The guidance is based on current market conditions and expectations, which are subject to change.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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