ThredUp Announces Fourth Quarter and Full Year 2025 Results

Core Insights - ThredUp Inc. reported strong financial results for Q4 and full year 2025, highlighting the scalability of its infrastructure and marketplace model, with a focus on sustainable, profitable growth in 2026 [2][4]. Financial Highlights - Fourth Quarter 2025: Revenue reached $79.7 million, an 18% increase year-over-year, with gross profit of $63.4 million, up 17% year-over-year. Gross margin was 79.6%, down from 80.4% in Q4 2024. The loss from continuing operations was $5.6 million, or -7.0% of revenue, an improvement from a loss of $8.1 million, or -12.0% of revenue, in the previous year [5][4]. - Full Year 2025: Total revenue was $310.8 million, a 20% increase year-over-year, with gross profit of $246.8 million, up 19% year-over-year. Gross margin was 79.4%, slightly down from 79.7% the previous year. The loss from continuing operations was $20.2 million, or -6.5% of revenue, compared to a loss of $40.0 million, or -15.4% of revenue, in 2024 [5][4]. Active Buyers and Orders - The number of active buyers reached 1.65 million in Q4 2025, a 30% increase year-over-year, with total orders of 1.56 million, up 27% from the previous year. For the full year, active buyers also totaled 1.65 million, with total orders of 6.08 million, representing a 25% increase year-over-year [5][4]. Financial Outlook - For Q1 2026, ThredUp expects revenue between $79.5 million and $80.5 million, reflecting a 12% year-over-year increase at the midpoint. The gross margin is anticipated to be between 78.0% and 79.0%, with an adjusted EBITDA margin of approximately 3.0% [4][11].