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On Tuesday, ThredUp Inc. (NASDAQ:TDUP), a leading online retail platform specializing in secondhand clothing with an impressive 79% gross profit margin, held its 2025 Annual Meeting of Stockholders. The company, now valued at approximately $887 million, has seen its stock surge over 439% year-to-date, according to InvestingPro data. The meeting saw the election of three Class I directors and the ratification of the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025.
The elected directors, who will serve until the 2028 annual meeting or until their successors are elected, are Ian Friedman, Timothy Haley, and Coretha Rushing. The voting results were as follows: Ian Friedman received 196,460,172 votes for and 10,458,146 withheld; Timothy Haley had 195,617,725 votes for and 11,300,593 withheld; Coretha Rushing garnered 196,734,394 votes for and 10,183,924 withheld. There were 21,590,061 broker non-votes for each nominee. The stock is currently trading near its 52-week high of $7.58, though InvestingPro analysis suggests it may be overvalued at current levels.
Additionally, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the current fiscal year was ratified with 228,122,998 votes for, 216,419 against, and 168,962 abstentions.
The stockholder meeting had a quorum with holders of 97,774,271 shares of common stock present in person or by proxy, representing a total of 228,508,379 votes. This count included both Class A and Class B common stock, with Class A stockholders entitled to one vote per share and Class B stockholders entitled to ten votes per share as of the record date, March 28, 2023.
The information in this article is based on a press release statement. For deeper insights into ThredUp’s financial health, growth prospects, and 13 additional exclusive ProTips, visit InvestingPro, where you’ll find comprehensive analysis and the detailed Pro Research Report covering what really matters for informed investment decisions.
In other recent news, ThredUp Inc. reported a robust financial performance for the first quarter of 2025, with earnings per share (EPS) of -$0.04, surpassing the expected -$0.08. The company’s revenue reached $71.3 million, exceeding the anticipated $65.62 million, marking a 10.5% year-over-year increase. This strong financial showing was attributed to significant growth in active buyers, with a notable 95% rise in new buyers. The company also reported an adjusted EBITDA of $3.8 million, which is 5.3% of revenue, reflecting improved operational efficiency.
ThredUp’s success in customer acquisition was further highlighted by its April performance, the most successful month in the company’s history for acquiring new customers. The positive financial results have led ThredUp to issue an optimistic second-quarter guidance, projecting revenue between $72.5 million and $74.5 million. For the full year, the company expects revenue to range from $281 million to $291 million.
Analysts at Telsey Advisory Group responded to ThredUp’s strong performance by raising the stock’s price target to $7, maintaining an Outperform rating. They believe ThredUp is well-positioned to capitalize on the growing resale market, supported by its proprietary platform and supply chain capabilities. The company’s strategic focus on a domestic-only business model has minimized disruptions from tariff-related issues, allowing it to enhance the customer experience.
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