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Investing.com -- ThredUp Inc. (NASDAQ:TDUP), an online resale platform for apparel and accessories, saw its shares surge 10.2% after reporting better-than-expected first quarter results and raising its full-year guidance.
The company reported Q1 adjusted earnings per share of -$0.04, beating analyst estimates of -$0.08. Revenue for the quarter came in at $71.3 million, surpassing the consensus estimate of $65.62 million and representing a 10% increase YoY.
ThredUp’s strong performance was driven by record new buyer acquisition, with active buyers growing 6% YoY to 1.37 million. The company also reported a 16% YoY increase in orders.
"We are proud to deliver Q1 out-performance, including a record quarter for new buyer acquisition," said ThredUp CEO and co-founder James Reinhart.
Gross profit rose 9% YoY to $56.4 million, while gross margin slightly decreased to 79.1% from 80.1% in the same quarter last year.
Looking ahead, ThredUp raised its full-year 2025 revenue guidance to $281-291 million, above the consensus of $274.2 million. For Q2 2025, the company expects revenue between $72.5-74.5 million.
The company ended the quarter with $55.4 million in cash, restricted cash, and investments, up $2.6 million from the previous quarter.
ThredUp’s strong results and optimistic outlook reflect growing consumer interest in secondhand fashion, with the U.S. secondhand market expected to reach $74 billion by 2029, according to the company’s annual Resale Report.
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