NASDAQ : TDUP
ThredUp Inc. — Financial statements
Consumer Discretionary · Internet Retail · United States
Last price 2.08 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 273.17M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
ThredUp Inc. (TDUP) reported revenue of 334.30M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 334.30M | 310.81M | 260.03M | 258.50M | 288.38M | 251.79M |
| Cost of Revenue | 68.47M | 64.06M | 52.91M | 60.04M | 96.04M | 73.66M |
| Gross Profit | 265.83M | 246.75M | 207.12M | 198.47M | 192.34M | 178.13M |
| Selling, General & Admin | 288.53M | 267.43M | 247.74M | 251.47M | 281.82M | 240.52M |
| Operating Expenses | 288.53M | 267.43M | 247.74M | 251.47M | 281.82M | 240.52M |
| Operating Income | -22.70M | -20.68M | -40.62M | -53.00M | -89.49M | -62.39M |
| Interest Expense | -1.59M | -1.92M | -2.52M | -2.24M | -805.00K | -2.27M |
| Other Non Operating Income (Expenses) | 1.90M | 2.03M | 3.17M | 2.90M | 1.79M | 1.56M |
| EBT Excluding Unusual Items | -22.39M | -20.57M | -39.97M | -52.34M | -88.50M | -63.10M |
| Gain (Loss) on Sale of Investments | 1.25M | 1.48M | -3.75M | |||
| Asset Writedown | -1.07M | -1.07M | ||||
| Pretax Income | -22.21M | -20.16M | -39.97M | -52.34M | -92.25M | -63.10M |
| Income Tax Expense | 22.00K | 59.00K | 29.00K | 19.00K | 35.00K | 80.00K |
| Earnings From Continuing Operations | -22.23M | -20.21M | -40.00M | -52.36M | -92.28M | -63.18M |
| Earnings From Discontinued Operations | -36.99M | -18.89M | ||||
| Net Income | -22.23M | -20.21M | -76.99M | -71.25M | -92.28M | -63.18M |
| Net Income to Common | -22.23M | -20.21M | -76.99M | -71.25M | -92.28M | -63.18M |
| Shares Outstanding (Basic) | 126.83M | 121.69M | 111.96M | 104.88M | 99.82M | 77.09M |
| Shares Outstanding (Diluted) | 126.83M | 121.69M | 111.96M | 104.88M | 99.82M | 77.09M |
| EPS (Basic) | -0.18 | -0.17 | -0.69 | -0.68 | -0.92 | -0.82 |
| EPS (Diluted) | -0.18 | -0.17 | -0.69 | -0.68 | -0.92 | -0.82 |
| Free Cash Flow | 1.61M | 180.00K | -5.69M | -35.70M | -95.36M | -54.85M |
| Free Cash Flow Per Share | 0.01 | 0.00 | -0.05 | -0.34 | -0.95 | -0.71 |
| Gross Margin | 79.52% | 79.39% | 79.65% | 76.78% | 66.70% | 70.75% |
| Operating Margin | -6.79% | -6.65% | -15.62% | -20.50% | -31.03% | -24.78% |
| Profit Margin | -6.65% | -6.50% | -29.61% | -27.56% | -32.00% | -25.09% |
| Free Cash Flow Margin | 0.48% | 0.06% | -2.19% | -13.81% | -33.07% | -21.78% |
| EBITDA | -8.70M | -7.75M | -23.29M | -38.77M | -75.45M | -53.23M |
| EBITDA Margin | -2.60% | -2.49% | -8.96% | -15.00% | -26.16% | -21.14% |
| D&A For EBITDA | 14.00M | 12.92M | 17.33M | 14.23M | 14.03M | 9.15M |
| EBIT | -22.70M | -20.68M | -40.62M | -53.00M | -89.49M | -62.39M |
| EBIT Margin | -6.79% | -6.65% | -15.62% | -20.50% | -31.03% | -24.78% |
| Revenue as Reported | 258.50M | 288.38M | 251.79M | |||
| Advertising Expenses | 51.10M | 41.50M | 38.80M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 42.17M | 38.63M | 31.85M | 54.34M | 38.03M | 84.55M |
| Short-Term Investments | 10.26M | 9.50M | 12.32M | 8.10M | 66.90M | 121.28M |
| Cash & Short-Term Investments | 52.43M | 48.13M | 44.18M | 62.44M | 104.93M | 205.83M |
| Accounts Receivable | 2.62M | 2.44M | 3.57M | 5.00M | 4.67M | 4.14M |
| Receivables | 2.62M | 2.44M | 3.57M | 5.00M | 4.67M | 4.14M |
| Inventory | 2.82M | 17.52M | 9.82M | |||
| Restricted Cash | 286.00K | 225.00K | 3.69M | 462.00K | 383.00K | 560.00K |
| Other Current Assets | 5.87M | 5.89M | 5.49M | 23.17M | 6.69M | 8.06M |
| Total Current Assets | 61.21M | 56.68M | 56.92M | 93.89M | 134.19M | 228.41M |
| Property, Plant & Equipment | 91.08M | 92.62M | 97.33M | 105.92M | 138.63M | 94.81M |
| Goodwill | 10.75M | 10.75M | 10.75M | 11.21M | 11.59M | 12.24M |
| Other Intangible Assets | 10.50M | 13.85M | ||||
| Other Long-Term Assets | 7.11M | 7.20M | 6.22M | 38.95M | 7.03M | 11.52M |
| Total Assets | 170.14M | 167.25M | 171.22M | 249.97M | 301.95M | 360.83M |
| Accounts Payable | 13.47M | 10.33M | 8.33M | 3.83M | 7.80M | 13.34M |
| Accrued Expenses | 6.61M | 8.53M | 8.63M | 7.46M | 15.24M | 14.21M |
| Current Portion of Long-Term Debt | 3.88M | 3.85M | 3.84M | 3.88M | 7.77M | |
| Current Portion of Leases | 5.77M | 5.40M | 4.34M | 4.61M | 6.41M | 3.93M |
| Current Income Taxes Payable | 2.94M | 2.57M | 2.61M | 2.57M | 4.33M | 5.73M |
| Current Unearned Revenue | 9.37M | 9.60M | 15.56M | 16.34M | 25.68M | 19.10M |
| Other Current Liabilities | 23.47M | 22.08M | 18.19M | 38.03M | 21.07M | 25.33M |
| Total Current Liabilities | 61.62M | 62.38M | 61.52M | 76.67M | 84.41M | 89.41M |
| Long-Term Debt | 17.72M | 14.28M | 18.15M | 22.01M | 25.79M | 27.56M |
| Long-Term Leases | 27.12M | 28.58M | 32.49M | 31.82M | 48.73M | 37.00M |
| Other Long-Term Liabilities | 2.93M | 2.82M | 2.76M | 15.55M | 3.02M | 1.12M |
| Total Liabilities | 109.39M | 108.05M | 114.92M | 146.05M | 161.95M | 155.09M |
| Common Stock | 13.00K | 12.00K | 11.00K | 11.00K | 10.00K | 10.00K |
| Additional Paid-In Capital | 649.26M | 635.25M | 612.15M | 585.16M | 551.85M | 522.16M |
| Retained Earnings | -588.48M | -576.08M | -555.86M | -478.88M | -407.63M | -315.34M |
| Comprehensive Income & Other | -40.00K | 3.00K | 3.00K | -2.38M | -4.23M | -1.09M |
| Total Common Equity | 60.75M | 59.19M | 56.30M | 103.92M | 140.00M | 205.73M |
| Shareholders' Equity | 60.75M | 59.19M | 56.30M | 103.92M | 140.00M | 205.73M |
| Total Liabilities & Equity | 170.14M | 167.25M | 171.22M | 249.97M | 301.95M | 360.83M |
| Total Debt | 50.61M | 52.13M | 58.84M | 62.27M | 84.81M | 76.25M |
| Net Cash (Debt) | 1.82M | -4.00M | -14.66M | 162.00K | 20.12M | 129.57M |
| Net Cash Per Share | 0.01 | -0.03 | -0.13 | 0.00 | 0.20 | 1.68 |
| Filing Date Shares Outstanding | 131.33M | 127.04M | 116.19M | 108.83M | 101.61M | 98.78M |
| Total Common Shares Outstanding | 131.30M | 127.03M | 116.13M | 108.78M | 101.53M | 98.44M |
| Working Capital | -416.00K | -5.70M | -4.60M | 17.21M | 49.78M | 139.00M |
| Book Value Per Share | 0.46 | 0.47 | 0.48 | 0.96 | 1.38 | 2.09 |
| Tangible Book Value | 50.00M | 48.45M | 45.55M | 92.70M | 117.91M | 179.64M |
| Tangible Book Value Per Share | 0.38 | 0.38 | 0.39 | 0.85 | 1.16 | 1.82 |
| Machinery | 101.64M | 94.85M | 88.43M | 84.15M | 65.29M | 55.07M |
| Construction In Progress | 5.11M | 6.86M | 5.58M | 4.79M | 36.48M | 10.74M |
| Leasehold Improvements | 23.55M | 23.46M | 23.90M | 24.11M | 15.72M | 4.71M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -22.23M | -20.21M | -76.99M | -71.25M | -92.28M | -63.18M |
| Depreciation & Amortization | 14.00M | 12.92M | 17.33M | 14.23M | 14.03M | 9.15M |
| Asset Writedown & Restructuring Costs | 1.07M | 1.07M | 3.98M | |||
| Stock-Based Compensation | 20.41M | 19.00M | 25.85M | 29.65M | 26.82M | 12.96M |
| Other Operating Activities | 4.11M | 3.81M | 41.51M | 24.91M | 12.07M | 2.34M |
| Change in Accounts Receivable | 1.18M | 1.13M | 1.48M | -2.45M | -530.00K | -1.19M |
| Change in Inventory | 3.67M | -7.89M | -2.74M | |||
| Change in Accounts Payable | 1.49M | 1.42M | 3.91M | -642.00K | -3.98M | 871.00K |
| Change in Other Net Operating Assets | -6.26M | -8.49M | -8.18M | -7.94M | -336.00K | 2.77M |
| Operating Cash Flow | 13.77M | 10.65M | 898.00K | -22.59M | -52.10M | -35.02M |
| Capital Expenditures | -12.16M | -10.47M | -6.58M | -13.11M | -43.25M | -19.83M |
| Cash Acquisitions | -23.58M | |||||
| Investment in Securities | -3.45M | 3.31M | -3.68M | 59.66M | 52.17M | -126.17M |
| Other Investing Activities | -6.64M | -2.88M | ||||
| Investing Cash Flow | -15.61M | -7.17M | -16.90M | 43.68M | 8.92M | -169.58M |
| Long-Term Debt Issued | 391.00K | 4.62M | ||||
| Long-Term Debt Repaid | -4.00M | -4.00M | -4.00M | -6.33M | -4.00M | |
| Net Debt Issued (Repaid) | -2.47M | -4.00M | -4.00M | -4.00M | -5.94M | 625.00K |
| Issuance of Common Stock | 21.47M | 27.93M | 3.67M | 5.16M | 4.20M | 233.41M |
| Repurchase of Common Stock | -19.68M | -24.33M | -4.06M | -4.76M | -2.20M | -347.00K |
| Other Financing Activities | -4.73M | |||||
| Financing Cash Flow | -674.00K | -397.00K | -4.39M | -3.60M | -3.94M | 228.96M |
| Foreign Exchange Rate Adjustments | -586.00K | -68.00K | -672.00K | -64.00K | ||
| Net Cash Flow | -2.51M | 3.09M | -20.98M | 17.42M | -47.79M | 24.30M |
| Free Cash Flow | 1.61M | 180.00K | -5.69M | -35.70M | -95.36M | -54.85M |
| Free Cash Flow Margin | 0.48% | 0.06% | -2.19% | -13.81% | -33.07% | -21.78% |
| Free Cash Flow Per Share | 0.01 | 0.00 | -0.05 | -0.34 | -0.95 | -0.71 |
| Levered Free Cash Flow | 12.88M | 11.31M | 13.43M | -11.84M | -69.10M | -27.98M |
| Unlevered Free Cash Flow | 13.87M | 12.51M | 15.01M | -10.44M | -68.60M | -26.55M |
| Cash Interest Paid | 1.80M | 1.80M | 2.40M | 2.71M | 2.06M | 2.08M |
| Change in Working Capital | -3.59M | -5.94M | -2.79M | -7.36M | -12.74M | -284.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 273.17M | 799.66M | 158.12M | 241.31M | 132.06M | 1.24B |
| Enterprise Value | 271.35M | 802.84M | 178.40M | 245.63M | 95.14M | 1.04B |
| Last Close Price | 2.08 | 6.39 | 1.39 | 2.25 | 1.31 | 12.76 |
| PS Ratio | 0.82 | 2.57 | 0.61 | 0.93 | 0.46 | 4.94 |
| PB Ratio | 4.50 | 13.51 | 2.81 | 2.32 | 0.94 | 6.05 |
| P/TBV Ratio | 5.46 | 16.51 | 3.47 | 2.60 | 1.12 | 6.92 |
| P/FCF Ratio | 169.36 | 4,442.54 | ||||
| P/OCF Ratio | 19.84 | 75.07 | 176.08 | |||
| EV/Sales Ratio | 0.81 | 2.58 | 0.69 | 0.95 | 0.33 | 4.14 |
| EV/FCF Ratio | 168.23 | 4,460.24 | ||||
| Debt / Equity Ratio | 0.83 | 0.88 | 1.04 | 0.60 | 0.61 | 0.37 |
| Debt / EBITDA Ratio | 26.91 | 20.07 | ||||
| Debt / FCF Ratio | 31.38 | 289.62 | ||||
| Net Debt / Equity Ratio | -0.03 | 0.07 | 0.26 | -0.00 | -0.14 | -0.63 |
| Net Debt / EBITDA Ratio | 0.21 | -0.52 | -0.63 | 0.00 | 0.27 | 2.43 |
| Net Debt / FCF Ratio | -1.13 | 22.25 | -2.58 | 0.01 | 0.21 | 2.36 |
| Asset Turnover | 1.95 | 1.84 | 1.24 | 0.94 | 0.87 | 1.00 |
| Inventory Turnover | 5.90 | 7.03 | 11.04 | |||
| Quick Ratio | 0.89 | 0.81 | 0.78 | 0.88 | 1.30 | 2.35 |
| Current Ratio | 0.99 | 0.91 | 0.93 | 1.23 | 1.59 | 2.56 |
| Return on Equity (ROE) | -36.76% | -35.00% | -49.93% | -42.93% | -53.38% | -54.60% |
| Return on Assets (ROA) | -8.25% | -7.64% | -12.05% | -12.00% | -16.88% | -15.48% |
| Return on Capital Employed (ROCE) | -20.90% | -19.70% | -37.00% | -30.60% | -41.10% | -23.00% |
| Earnings Yield | -8.43% | -2.53% | -48.69% | -29.53% | -69.88% | -5.08% |
| FCF Yield | 0.59% | 0.02% | -3.60% | -14.79% | -72.21% | -4.41% |
| Buyback Yield / Dilution | -9.21% | -8.69% | -6.76% | -5.07% | -29.48% | -566.60% |