ThredUp Announces First Quarter 2025 Results

Core Insights - ThredUp Inc. reported strong financial results for Q1 2025, with a record quarter for new buyer acquisition and an optimistic outlook for the full year [2][3][5] Financial Highlights - Revenue for Q1 2025 was $71.3 million, a 10% increase year-over-year [6] - Gross profit reached $56.4 million, up 9% year-over-year, with a gross margin of 79.1% [6] - The company reported a loss from continuing operations of $5.2 million, improving from a loss of $12.2 million in Q1 2024 [6] - Adjusted EBITDA from continuing operations was $3.8 million, or 5.3% of revenue, compared to $1.9 million, or 2.9% of revenue, in the same quarter last year [6][21] Business Developments - ThredUp launched an AI-powered social commerce feature called Shop Social, currently in beta on the iOS app [6] - The company announced a next-generation branded resale platform, removing branded resale fees to enhance brand partnerships [6] - ThredUp's 2025 Resale Report indicated that the U.S. secondhand market grew five times faster than the broader retail clothing market in 2024, projected to reach $74 billion by 2029 [6] Future Outlook - For Q2 2025, ThredUp anticipates record revenue of $71.3 million, a gross margin of 79.1%, and an increase in active buyers to 1.37 million, reflecting a 6% year-over-year growth [5][11] - The full-year 2025 outlook has been revised upwards, with expected revenue between $281 million and $291 million, representing a 10% year-over-year increase [11]