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Core Insights - ThredUp Inc. has reported preliminary fourth-quarter 2024 results that exceeded previous guidance, indicating a return to solid growth in its core business [1][7]. Financial Performance - Total revenues for the fourth quarter are projected to be between $66.7 million and $67.2 million, reflecting a 9% year-over-year increase and surpassing earlier predictions of $58 million to $60 million [7]. - Gross margin is expected to be in the range of 80.2% to 80.4%, an improvement from the previously forecasted range of 78.5% to 79.5% [7]. - Adjusted EBITDA margin is anticipated to be between 6.4% and 6.9%, significantly outperforming the earlier projection of flat to 2% [8]. - The net loss as a percentage of revenues is expected to be in the range of 12% to 12.6% [8]. - Combined revenues, including Remix's performance until its divestiture, are expected to be between $74.5 million and $75 million, representing an 8% year-over-year decline, but an improvement from the previously forecasted range of $67.2 million to $69.2 million [9]. Strategic Focus - The company has divested its European business to concentrate on the U.S. market, which has shown remarkable growth and efficiency [2]. - Management attributes the positive momentum to a strategic focus on the U.S. business and AI-driven improvements to the product experience [3]. - ThredUp plans to invest further in customer acquisition and retention, refine sourcing strategies, and enhance pricing algorithms to boost profitability [11]. - The company is expanding its AI-driven innovations, such as AI search and image recognition, to improve the second-hand shopping experience [12]. Market Performance - ThredUp's shares have increased by 49.7% in the past month, contrasting with a 5.6% decline in the industry [4].

OAKLAND, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- ThredUp Inc. (Nasdaq: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today provided preliminary unaudited financial results for the fourth quarter ended December 31, 2024. “I am encouraged by our preliminary fourth quarter results that exceeded all elements of our guidance, and the return to solid growth in our core business,” said ThredUp Co-Founder and CEO James Reinhart. “The exclusive focus on our U.S. ...

OAKLAND, Calif., Jan. 06, 2025 (GLOBE NEWSWIRE) -- ThredUp Inc. (Nasdaq: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, announced today that CEO and co-founder James Reinhart and CFO Sean Sobers will participate in the following investor conference: 27th Annual Needham Growth ConferenceWednesday, January 15, 202512:00 PM - 12:40 PM PT / 3:00 PM - 3:40 PM ET The event will be webcast live on ThredUp’s investor website at https://ir.thredup.com/. A replay wi ...

Core Insights - ThredUp has divested its European business to concentrate on its domestic U.S. market, following a management buyout led by Florin Filote, the new general manager for European operations [1][4][7] Company Overview - Founded in 2009, ThredUp specializes in secondhand clothing and accessories, raising over $300 million prior to its 2021 IPO. However, its market cap has significantly declined from $1.3 billion at IPO to a low of $60 million last month [2] Financial Performance - In Q2 2024, ThredUp reported an 18% year-on-year decline in European revenue to $13 million, with gross profit falling 25% to $3.6 million [3] - Following better-than-expected Q3 earnings, ThredUp's shares surged, bringing its market cap to nearly $200 million [4] Transaction Details - ThredUp confirmed a non-binding agreement for the buyout of Remix, with Filote acquiring 91% of the common stock for just €1, while ThredUp made a final cash investment of $2 million to support Remix as an independent entity [5] - The transaction includes a convertible promissory note issued to ThredUp by Remix for €61.6 million ($64.7 million), representing the investment made by ThredUp since acquiring Remix [6] Strategic Implications - The divestment allows ThredUp to focus on its core U.S. business, with confidence expressed in Remix's future under Filote's leadership [7]

OAKLAND, Calif., Oct. 07, 2024 (GLOBE NEWSWIRE) -- ThredUp (NASDAQ: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, announced today that its financial results for the third quarter ended September 30, 2024 will be released on Monday, November 4, 2024 after the close of the U.S. markets. ThredUp will host a conference call and live webcast that day at 1:30 p.m. PT / 4:30 p.m. ET. The live and archived webcast and all related earnings materials will be availa ...

Investor Contact Lauren Frasch ir@thredup.com OAKLAND, Calif., July 08, 2024 (GLOBE NEWSWIRE) -- ThredUp (NASDAQ: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, announced today that its financial results for the second quarter ended June 30, 2024 will be released on Monday, August 5, 2024 after the close of the U.S. markets. ThredUp will host a conference call and live webcast that day at 1:30 p.m. PT / 4:30 p.m. ET. About ThredUp Media Contact Laura Hogya ...

Group 1 - ThredUp is one of the largest online resale platforms for apparel, shoes, and accessories, focusing on transforming resale through technology and promoting secondhand shopping [2] - The company has processed over 172 million unique secondhand items from 55,000 brands across 100 categories, emphasizing sustainability in the fashion industry [2] - ThredUp offers a Resale-as-a-Service model, allowing leading brands and retailers to create customizable and scalable resale experiences for their customers [2] Group 2 - CEO James Reinhart and CFO Sean Sobers will participate in the William Blair 44th Annual Growth Stock Conference on June 5, 2024, with a live webcast available on ThredUp's investor website [1] - The event will provide insights into ThredUp's business model and growth strategy, highlighting its role in the resale market [1]

Wednesday, June 5, 2024 8:40 AM - 9:10 AM PT / 11:40 AM - 12:10 PM ET The event will be webcast live on ThredUp's investor website at https://ir.thredup.com/. A replay will be available for 30 days following the event. OAKLAND, Calif., May 22, 2024 (GLOBE NEWSWIRE) -- ThredUp (NASDAQ: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, announced today that CEO and co- founder James Reinhart and CFO Sean Sobers will participate in the following investor conferen ...

ThredUp Inc. (NASDAQ:TDUP) Q1 2024 Earnings Conference Call May 6, 2024 4:30 PM ET Company Participants Lauren Frasch - Senior Director of Investor Relations & Strategic Finance James Reinhart - Co-Founder & CEO Sean Sobers - CFO Conference Call Participants Ike Boruchow - Wells Fargo Dylan Carden - William Blair Rick Patel - Raymond James Anna Andreeva - Needham Operator Good day everyone and welcome to today's ThredUp Q1 2024 Earnings Call. At this time, all participants are in a listen-only mode. [Operat ...