Financial Data and Key Metrics Changes - Revenue for Q2 2025 totaled $77.7 million, representing a 16.4% year-over-year increase [23] - Gross margin was 79.5%, a 70 basis point increase compared to the same quarter last year [23] - Adjusted EBITDA was $3 million, or 3.9% of revenue, doubling from the previous year [24] Business Line Data and Key Metrics Changes - New buyer acquisition increased by 74% year-over-year, marking the highest number of new customers in the company's history [7][23] - Active buyers rose to 1.5 million, up 16.5% year-over-year, while orders increased by 20.8% to 1.5 million [23] Market Data and Key Metrics Changes - The company noted that the closure of the de minimis loophole could lead to higher prices for fast fashion goods, potentially benefiting ThredUP [10] - Advertising markets remain dynamic, with fluctuations in spending from competitors impacting customer acquisition [11][82] Company Strategy and Development Direction - The company aims to maintain gross margin and bottom-line efficiency while reinvesting in acquiring new buyers and sellers [8] - ThredUP is focusing on AI-driven product experiences to enhance customer engagement and conversion rates [12][20] - The strategy includes expanding the seller experience to make ThredUP the default platform for selling secondhand clothing online [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory despite potential macroeconomic uncertainties [42] - The company is optimistic about the long-term potential of the resale market, expecting significant growth in the coming years [99] Other Important Information - The company has invested over $400 million in infrastructure and technology to support its marketplace operations [19] - The introduction of AI-generated images on product pages has shown positive results, particularly for new customers [13][14] Q&A Session Summary Question: What drove the Q2 revenue outperformance and new buyer growth? - Management highlighted a combination of improved product experience, strong operations, and high-quality supply as key drivers [36] Question: Why is the Q4 revenue guidance conservative? - Management noted seasonal trends and uncertainties in the macro environment as reasons for a cautious outlook [41] Question: What factors contributed to the gross margin outperformance? - The growth in premium supply and a focus on customer experience were cited as contributing factors [47] Question: What are the demographics of new buyers? - Management indicated that new buyers resemble previous customers, with a large addressable market for secondhand shoppers [57] Question: What are the dynamics of customer acquisition costs? - Management noted that improved conversion rates have significantly impacted customer acquisition costs, allowing for more effective spending [100]

Financial Performance - Q2 2025 revenue reached $78 million, showing a year-over-year growth of 16%[8] - Q2 2025 gross profit was $62 million, resulting in a gross profit margin of 79%[8] - Q2 2025 Adjusted EBITDA was $3 million, representing 4% of revenue[8] - The company had $56 million in cash and $20 million in debt at the end of Q2 2025[8] User Engagement - ThredUp had 1.5 million active buyers in Q2 2025, a 17% increase year-over-year[8] - Total orders in Q2 2025 amounted to 1.5 million, reflecting a 21% year-over-year growth[8] Sustainability Impact - ThredUp's operations have saved 666 million pounds of carbon emissions[8] - The company has also contributed to saving 1.3 billion kWh of energy[8] - Water savings attributed to ThredUp's efforts amount to 7 billion gallons[8] Market Position and Strategy - The U S secondhand apparel market grew 14% in 2024, which is 5 times faster than the broader retail clothing market[38] - The U S throws away approximately 17 billion pounds of apparel that could be recycled and reused[39]

Core Insights - ThredUP reported better-than-expected first-quarter earnings, indicating a growing consumer preference for secondhand clothing, with CEO James Reinhart suggesting that proposed tariffs on Chinese imports could further enhance this trend [1][3]. Financial Performance - ThredUP's revenue for Q1 reached $71.3 million, a 10.5% increase year-over-year and approximately 4% above Wall Street estimates [2] - The gross margin remained strong at 79%, with an adjusted EBITDA profit of $3.8 million, a significant improvement from the previous year's losses [2] - The net loss narrowed to $5.2 million, or $0.04 per share, and the company raised its full-year sales outlook to about $286 million, up from $275 million [2] Market Dynamics - The tightening of the "de minimis" exemption and potential broader apparel tariffs could increase the cost of new clothing, making ThredUP's secondhand offerings more attractive to consumers [3] - Higher import duties may also create a more competitive marketing environment, as major advertisers like Shein and Temu have reduced spending, leading to lower customer-acquisition costs for ThredUP [4] User Engagement - ThredUP experienced a 6% increase in active buyers, reaching 1.37 million, with new-buyer additions surging by 95%, marking the best quarter in the company's history [5] - The implementation of AI search tools, including "Shop Similar" and visual-search features, has improved conversion rates and enhanced the shopping experience [5] Market Reaction - Following the positive earnings report, ThredUP's shares rose nearly 16% in after-hours trading, reflecting investor optimism [6]

Core Viewpoint - Hershey reported quarterly earnings of $2.09 per share, exceeding the Zacks Consensus Estimate of $1.94 per share, but down from $3.07 per share a year ago, indicating a 31.9% year-over-year decline in earnings [1][2] Financial Performance - The company posted revenues of $2.81 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.54% and down from $3.25 billion year-over-year, reflecting a 13.5% decrease [2] - Over the last four quarters, Hershey has surpassed consensus EPS estimates two times and topped revenue estimates only once [2] Stock Performance - Hershey shares have declined approximately 1.3% since the beginning of the year, while the S&P 500 has decreased by 5.3% [3] - The current Zacks Rank for Hershey is 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $1.17 on revenues of $2.47 billion, and for the current fiscal year, it is $6.10 on revenues of $11.42 billion [7] - The outlook for the Food - Confectionery industry, where Hershey operates, is currently in the top 38% of Zacks industries, suggesting a favorable environment for stock performance [8]