ThredUp(TDUP) - 2024 Q4 - Annual Results

Revenue Projections - Preliminary total revenue for Q4 2024 is projected to be between $66.7 million and$67.2 million, exceeding previous guidance of $58.0 million to$60.0 million, representing an annual growth of 9%[3] - Combined revenue, including the European business until its divestiture, is projected to be between $74.5 million and$75.0 million, surpassing previous guidance of $67.2 million to$69.2 million[4] Gross Margin Expectations - Gross margin for Q4 2024 is expected to be between 80.2% and 80.4%, higher than the previous guidance of 78.5% to 79.5%[3] - Combined gross margin is expected to be between 75.9% and 76.1%, up from the previous guidance of 72.3% to 73.3%[4] EBITDA and Profitability - Adjusted EBITDA margin for Q4 2024 is anticipated to be between 6.4% and 6.9%, compared to the previous guidance of 0.0% to 2.0%[3] - The company anticipates sustaining its momentum into 2025, with a focus on profitability and positive adjusted EBITDA[15] Net Loss Projection - The net loss as a percentage of total revenue is projected to be between (12.6)% and (12.0)% for Q4 2024[3] Business Strategy and Market Position - Following the divestiture of Remix, ThredUp will no longer report combined results or provide a combined outlook going forward[5] - The company has processed over 200 million unique secondhand items from 60,000 brands across 100 categories, emphasizing its market position[14] - ThredUp's focus on U.S. operations and AI-driven enhancements contributed to solid growth in its core business[2]