TDUP · Thredup Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81.67M | - | $82.16M | $77.66M | $71.29M | - | $73.02M | $79.75M | $79.59M | - |
| Cost of Revenue | $17.01M | - | $16.95M | $15.92M | $14.92M | - | $21.04M | $23.64M | $24.26M | - |
| Gross Profit | $64.66M | - | $65.21M | $61.74M | $56.37M | - | $51.98M | $56.12M | $55.33M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $15.23M | - | $14.87M | $13.25M | $13.54M | - | $14.54M | $15.44M | $17.57M | - |
| Total Operating Expenses | $71.25M | - | $69.60M | $66.98M | $61.80M | - | $76.85M | $70.41M | $72.04M | - |
| D&A | $3.31M | - | $3.10M | $3.20M | $3.17M | - | $4.00M | $4.20M | $4.93M | - |
| Operating Income | ($6.59M) | - | ($4.39M) | ($5.25M) | ($5.43M) | - | ($24.87M) | ($14.29M) | ($16.71M) | - |
| Interest Expense | $384.0K | - | $477.0K | $496.0K | $677.0K | - | $629.0K | $652.0K | $677.0K | - |
| Income Tax | $24.0K | - | ($34.0K) | $31.0K | $57.0K | - | $4.0K | $6.0K | $11.0K | - |
| Net Income | ($6.47M) | - | ($4.25M) | ($5.18M) | ($5.21M) | - | ($24.77M) | ($13.95M) | ($16.55M) | - |
| EPS - Basic | ($0.05) | - | ($0.03) | ($0.04) | ($0.04) | - | ($0.22) | ($0.13) | ($0.15) | - |
| EPS - Diluted | ($0.05) | - | ($0.03) | ($0.04) | ($0.04) | - | ($0.22) | ($0.13) | ($0.15) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $39.00M | $38.63M | $46.22M | $40.97M | $41.06M | $31.85M | $43.72M | $44.76M | $50.11M | $56.08M |
| Accounts Receivable | $4.32M | $2.44M | $3.73M | $3.80M | $4.23M | $3.57M | $5.72M | $5.89M | $6.93M | $7.81M |
| Inventory | - | - | - | - | - | $690.0K | $7.38M | $10.31M | $11.58M | $15.69M |
| Accounts Payable | $11.86M | $10.33M | $12.33M | $11.16M | $13.00M | $8.33M | $13.13M | $10.90M | $9.13M | $9.46M |
| Current Assets | $60.38M | $56.68M | $60.50M | $60.74M | $60.46M | $56.92M | $73.36M | $78.18M | $86.86M | $93.89M |
| Total Assets | $172.37M | $167.25M | $172.47M | $173.60M | $172.50M | $171.22M | $214.94M | $231.21M | $244.28M | $249.97M |
| Current Liabilities | $63.70M | $62.38M | $65.53M | $63.17M | $65.61M | $61.52M | $76.40M | $73.65M | $77.07M | $76.67M |
| Long-term Debt | $17.74M | $14.28M | $15.25M | $16.22M | $17.18M | $18.15M | $19.12M | $20.08M | $21.04M | $22.01M |
| Total Liabilities | $112.98M | $108.05M | $113.40M | $113.40M | $116.42M | $114.92M | $145.67M | $144.72M | $150.75M | $146.05M |
| Stockholders' Equity | $59.39M | $59.19M | $59.07M | $60.21M | $56.08M | $56.30M | $69.27M | $86.49M | $93.53M | $103.92M |
| Retained Earnings | ($582.55M) | ($576.08M) | ($570.50M) | ($566.25M) | ($561.08M) | ($555.86M) | ($534.15M) | ($509.38M) | ($495.43M) | ($478.88M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.74M | - | - | - | $3.29M | - | - | - | $1.39M | - |
| Investing Cash Flow | $5.08M | - | - | - | ($5.29M) | - | - | - | ($5.79M) | - |
| Financing Cash Flow | $628.0K | - | - | - | ($1.59M) | - | - | - | ($1.48M) | - |
| CapEx | $4.11M | - | - | - | $1.81M | - | - | - | $1.62M | - |
| Free Cash Flow | $1.63M | - | - | - | $1.47M | - | - | - | ($227.0K) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 79.2% | - | 79.4% | 79.5% | 79.1% | - | 71.2% | 70.4% | 69.5% | - |
| Operating margin | -8.1% | - | -5.3% | -6.8% | -7.6% | - | -34.1% | -17.9% | -21.0% | - |
| EBITDA margin | -4.0% | - | -1.6% | -2.6% | -3.2% | - | -28.6% | -12.7% | -14.8% | - |
| Net margin | -7.9% | - | -5.2% | -6.7% | -7.3% | - | -33.9% | -17.5% | -20.8% | - |
| Free cash flow margin | 2.0% | - | - | - | 2.1% | - | - | - | -0.3% | - |
| FCF / Net income | -0.25 | - | - | - | -0.28 | - | - | - | 0.01 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 18.7% | - | 18.1% | 17.1% | 19.0% | - | 19.9% | 19.4% | 22.1% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -3.8% | - | -2.5% | -3.0% | -3.0% | - | -11.5% | -6.0% | -6.8% | - |
| Return on equity | -10.9% | - | -7.2% | -8.6% | -9.3% | - | -35.8% | -16.1% | -17.7% | - |
| Return on invested capital | -6.7% | - | -4.7% | -5.4% | -5.9% | - | -22.2% | -10.6% | -11.5% | - |
| Liquidity | ||||||||||
| Current ratio | 0.95 | 0.91 | 0.92 | 0.96 | 0.92 | 0.93 | 0.96 | 1.06 | 1.13 | 1.22 |
| Quick ratio | 0.95 | 0.91 | 0.92 | 0.96 | 0.92 | 0.91 | 0.86 | 0.92 | 0.98 | 1.02 |
| Cash ratio | 0.61 | 0.62 | 0.71 | 0.65 | 0.63 | 0.52 | 0.57 | 0.61 | 0.65 | 0.73 |
| Leverage | ||||||||||
| Debt / Equity | 0.30 | 0.24 | 0.26 | 0.27 | 0.31 | 0.32 | 0.28 | 0.23 | 0.22 | 0.21 |
| Debt / Assets | 0.10 | 0.09 | 0.09 | 0.09 | 0.10 | 0.11 | 0.09 | 0.09 | 0.09 | 0.09 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -17.2x | - | -9.2x | -10.6x | -8.0x | - | -39.5x | -21.9x | -24.7x | - |
| Equity multiplier | 2.90 | 2.83 | 2.92 | 2.88 | 3.08 | 3.04 | 3.10 | 2.67 | 2.61 | 2.41 |
| Liabilities / Assets | 0.66 | 0.65 | 0.66 | 0.65 | 0.67 | 0.67 | 0.68 | 0.63 | 0.62 | 0.58 |
| Efficiency | ||||||||||
| Asset turnover | 0.47 | - | 0.48 | 0.45 | 0.41 | - | 0.34 | 0.34 | 0.33 | - |
| Inventory turnover | - | - | - | - | - | - | 2.85 | 2.29 | 2.09 | - |
| Days sales outstanding | 19d | - | 17d | 18d | 22d | - | 29d | 27d | 32d | - |
| Days inventory outstanding | - | - | - | - | - | - | 128d | 159d | 174d | - |
| Days payable outstanding | 255d | - | 265d | 256d | 318d | - | 228d | 168d | 137d | - |
| Cash conversion cycle | - | - | - | - | - | - | -71d | 18d | 69d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 7.1x | - | 19.8x | 15.0x | 5.0x | - | 1.4x | 2.2x | 2.3x | - |
| P / S | 5.1x | - | 14.3x | 11.6x | 3.9x | - | 1.3x | 2.4x | 2.7x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 14.6% | - | 12.5% | -2.6% | -10.4% | - | -11.0% | -3.5% | 4.8% | - |
| Revenue CAGR (3y) | 2.5% | - | 6.5% | 0.5% | -0.6% | - | 15.9% | 10.0% | 18.1% | - |
| Revenue CAGR (5y) | 11.1% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 14.7% | - | 25.5% | 10.0% | 1.9% | - | -8.2% | 0.7% | 8.3% | - |
| Operating income growth (YoY) | -21.3% | - | 82.4% | 63.3% | 67.5% | - | -36.7% | 23.6% | 17.2% | - |
| Net income growth (YoY) | -24.1% | - | 82.9% | 62.9% | 68.5% | - | -37.0% | 25.6% | 16.4% | - |
| EPS growth (YoY) | -25.0% | - | 86.4% | 69.2% | 73.3% | - | -29.4% | 27.8% | 21.1% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 10.8% | - | - | - | - | - | - | - | 97.8% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 5.9% | 5.1% | -14.7% | -30.4% | -40.0% | -45.8% | -36.8% | -28.3% | -28.7% | -25.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2024-12-31.
Product / service
$260.03M totalConsignment$246.19M · 94.7%
Product$13.85M · 5.3%
Peer comparison
Same SIC group: Retail-Catalog & Mail-Order Houses
Comparing ThredUp Inc. against the 5 most active filers in the same SIC group.