NASDAQ$TDUP
Thredup Inc - Class A · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
ThredUp's Q1 2024 financial performance showed revenue growth and improved profitability.
ThredUp reported a 5% year-over-year increase in revenue, reaching $79.6 million. The company's gross margin improved to 69.5%, with gross profit increasing by 8% year-over-year. Net loss decreased compared to the previous year, and the company is focusing on becoming an AI-powered resale company.
- Revenue increased by 5% year-over-year, reaching $79.6 million.
- Gross margin improved to 69.5%, with gross profit up by 8% year-over-year.
- Active Buyers and Orders increased by 4% and 9% year-over-year, respectively.
- The company is reorganizing to support an AI-driven operating model, reducing operating expenses and investing in AI product developments.
Headline financials
Revenue & EPS history
ThredUp · Revenue · Quarterly
$79.6M
Forward guidance
For Q2 2024, ThredUp expects revenue in the range of $81.0 million to $83.0 million, gross margin in the range of 71.0% to 73.0%, and Adjusted EBITDA margin in the range of 1.0% to 3.0%. For the full fiscal year 2024, ThredUp expects revenue in the range of $328.0 million to $338.0 million, gross margin in the range of 71.0% to 72.0%, and Adjusted EBITDA margin in the range of 2.0% to 4.0%.
Tailwinds
- Revenue is expected to be in the range of $81.0 million to $83.0 million for Q2 2024.
- Gross margin is projected to be between 71.0% and 73.0% for Q2 2024.
- Adjusted EBITDA margin is expected to be in the range of 1.0% to 3.0% for Q2 2024.
- Full year revenue is anticipated to be in the range of $328.0 million to $338.0 million.
- Full year gross margin is projected to be between 71.0% and 72.0%.
Headwinds
- The company is not providing a quantitative reconciliation of forward-looking guidance of Adjusted EBITDA loss to net loss.
- Reconciliation for Adjusted EBITDA loss in order to calculate forward-looking Adjusted EBITDA loss margin is not available without unreasonable effort.
- ThredUp is not providing a quantitative reconciliation for free cash flow estimates on a forward-looking basis.
- The forward-looking statements are based on information available as of the date of the release and are subject to risks and uncertainties.
- The company's reorganization actions may not have the desired effects on its business.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+2.3%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+11.8%
Avg return
30 days after
48%
12 / 25 earnings
Positive
+53.1%
Q4 2022
Best reaction
-64.9%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.5% | +7.8% | +2.2% | |
| Q4 2025 | -23.7% | -27.1% | -32.9% | |
| Q3 2025 | -7.5% | -6.9% | -6.6% | |
| Q1 2025 | +48.2% | +40.3% | +69.1% | |
| Q4 2024 | +7.2% | +5.8% | +13.0% | |
| Q3 2024 | +51.3% | +68.7% | +198.4% | |
| Q2 2024 | -64.9% | -65.9% | -51.5% | |
| Q1 2024 | +8.3% | +12.8% | +7.2% | |
| Q4 2023 | -6.6% | -15.6% | -11.8% | |
| Q3 2023 | -38.1% | -46.2% | -39.7% | |
| Q2 2023 | +14.7% | +18.6% | -3.8% | |
| Q1 2023 | +4.4% | -11.1% | -24.4% | |
| Q4 2022 | +53.1% | +33.8% | +36.3% | |
| Q3 2022 | +30.4% | +29.3% | +117.4% | |
| Q2 2022 | +11.5% | -15.6% | -5.0% | |
| Q1 2022 | -16.6% | -22.5% | -31.8% | |
| Q4 2019 | -1.0% | -2.1% | +5.5% | |
| Q4 2021 | +6.7% | +7.1% | +8.4% | |
| Q3 2020 | -0.6% | +7.1% | -21.0% | |
| Q3 2021 | +3.2% | +6.2% | -15.9% | |
| Q2 2020 | +7.1% | +6.3% | -14.3% | |
| Q2 2021 | -4.7% | +4.3% | -17.8% | |
| Q4 2020 | -9.3% | -2.5% | +36.1% | |
| Q1 2020 | -9.3% | -2.5% | +36.1% | |
| Q1 2021 | -4.2% | -2.1% | +41.2% |
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