NASDAQ$TDUP
Thredup Inc - Class A · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
ThredUp's Q2 2023 financial results were announced, showcasing revenue growth and improved profitability.
ThredUp reported an 8% year-over-year increase in revenue, reaching $82.7 million. The company's gross margin was 67.4%, with gross profit increasing by 6% year-over-year. Net loss improved to $18.8 million, and the adjusted EBITDA loss was $5.0 million.
- Revenue increased by 8% year-over-year, reaching $82.7 million.
- Gross margin was 67.4%, with gross profit up by 6% year-over-year.
- Active Buyers totaled 1.7 million, while Orders reached 1.8 million.
- Expanded Resale-as-a-Service (RaaS) offering with a dozen new resale programs.
Headline financials
Revenue & EPS history
ThredUp · Revenue · Quarterly
$82.7M
Forward guidance
For the third quarter 2023, thredUP expects: Revenue in the range of $82.0 million to $84.0 million, Gross margin in the range of 66.5% to 68.5%, Adjusted EBITDA loss margin in the range of 6.5% to 4.5%. For the fourth quarter 2023, thredUP expects: Revenue in the range of $84.5 million to $86.5 million, Gross margin in the range of 64.5% to 66.5%, Breakeven Adjusted EBITDA margin. For the full fiscal year 2023, thredUP expects: Revenue in the range of $325.0 million to $329.0 million, Gross margin in the range of 66.5% to 67.5%, Adjusted EBITDA loss margin in the range of 5.5% to 4.5%.
Tailwinds
- Revenue in the range of $82.0 million to $84.0 million for Q3 2023.
- Gross margin in the range of 66.5% to 68.5% for Q3 2023.
- Adjusted EBITDA loss margin in the range of 6.5% to 4.5% for Q3 2023.
- Revenue in the range of $84.5 million to $86.5 million for Q4 2023.
- Breakeven Adjusted EBITDA margin for Q4 2023.
Headwinds
- Adjusted EBITDA loss margin in the range of 6.5% to 4.5% for Q3 2023.
- Revenue in the range of $325.0 million to $329.0 million for the full fiscal year 2023.
- Gross margin in the range of 66.5% to 67.5% for the full fiscal year 2023.
- Adjusted EBITDA loss margin in the range of 5.5% to 4.5% for the full fiscal year 2023.
- Uncertainty in predicting depreciation and amortization, stock-based compensation expense, and provision for income taxes.
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 Q2 2023
+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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