ThredUp Announces Fourth Quarter and Full Year 2024 Results

Core Insights - ThredUp Inc. reported a return to growth in Q4 2024, with a focus on leveraging technology investments for future profitability [2][5][9] - The company divested 91% of its European business, Remix, which is now classified as a discontinued operation [2][5] Financial Highlights - Q4 2024 revenue reached $67.3 million, a 9$260.0 million, reflecting a 1% growth year-over-year, with a gross margin of 79.7% [5][6] - Active Buyers decreased by 6% to 1,274 thousand in Q4 2024, while Orders increased by 2% to 1,226 thousand [5][6] Profitability Metrics - Loss from continuing operations for Q4 2024 was $8.1 million, improving from a loss of$8.5 million in Q4 2023 [6] - Adjusted EBITDA from continuing operations was $5.0 million in Q4 2024, compared to$2.5 million in Q4 2023 [6] - For the full year 2024, the loss from continuing operations was $40.0 million, an improvement from$52.4 million in 2023 [6] Business Developments - The company achieved record gross margins for both Q4 and full year 2024, indicating improved operational efficiency [5][6] - Customer experience updates led to the strongest Q4 for new buyer acquisition in ThredUp's history, with new buyer conversion rates at all-time highs [10] Future Outlook - For Q1 2025, ThredUp expects revenue between $67.5 million and$69.5 million, and for the full year 2025, revenue is projected between $270.0 million and$280.0 million [9][10] - The company anticipates maintaining gross margins between 77.0% and 79.0% for both Q1 and full year 2025 [9][10]