Thredup Inc. - TDUP STOCK NEWS

ThredUp has released its 13th annual Resale Report, revealing significant growth in the secondhand apparel market. The U.S. secondhand market grew 14% in 2024, outpacing the broader retail clothing market by 5X. Online resale saw accelerated 23% growth, its strongest since 2021, and is projected to reach $40 billion by 2029.

Key findings show that 59% of consumers will seek secondhand options if tariffs make apparel more expensive. The global secondhand market is expected to reach $367 billion by 2029, with a 10% CAGR. Notably, younger generations plan to spend 46% of their apparel budget on secondhand in the next 12 months.

The report highlights the growing integration of social commerce and AI in resale, with 39% of younger shoppers making secondhand purchases through social platforms. 48% of consumers report that personalization and improved search make shopping secondhand as convenient as buying new items.

ThredUp reported strong Q4 2024 results with revenue reaching $67.3 million, up 9% year-over-year, and achieved a record quarterly gross margin of 80.4%. The company's full-year 2024 revenue grew 1% to $260.0 million with a record gross margin of 79.7%.

Q4 saw mixed operational metrics with Active Buyers at 1,274,000 (down 6% YoY) while Orders increased 2% to 1,226,000. The company's loss from continuing operations improved to $8.1 million in Q4 2024, compared to $8.5 million in Q4 2023.

Notable developments include the divestiture of 91% of ThredUp's European business (Remix) and strong Q4 new buyer acquisition metrics. For 2025, ThredUp projects revenue of $270-280 million (+6% YoY) with gross margins between 77-79% and stable Adjusted EBITDA margins.

ThredUp (NASDAQ: TDUP, LTSE: TDUP), a leading online resale platform for apparel, shoes, and accessories, has scheduled the release of its fourth quarter and full year 2024 financial results for Monday, March 3, 2025, after U.S. markets close. The company will host a conference call and live webcast at 1:30 p.m. PT / 4:30 p.m. ET on the same day. Investors can access the webcast and related earnings materials through ThredUp's investor relations website.

ThredUp has released preliminary Q4 2024 results, exceeding previous guidance across all metrics. The company reported total revenue of $66.7-67.2 million, representing 9% annual growth, with gross margin reaching 80.2-80.4%. The Adjusted EBITDA margin improved significantly to 6.4-6.9%, surpassing the previous outlook of 0-2%.

Following the divestiture of Remix Global EAD in November 2024, ThredUp has ceased European operations to focus exclusively on its U.S. business. The company's improved performance is attributed to AI-driven enhancements in product experience and leveraging infrastructure investments. The preliminary results show a net loss of 12.0-12.6% of total revenue, with the company noting these figures are subject to final audit review.

ThredUp (Nasdaq: TDUP, LTSE: TDUP), a leading online resale platform for apparel, shoes, and accessories, has announced its participation in the 27th Annual Needham Growth Conference. CEO and co-founder James Reinhart and CFO Sean Sobers will represent the company at the event, scheduled for Wednesday, January 15, 2025, from 12:00 PM to 12:40 PM PT (3:00 PM - 3:40 PM ET).

The presentation will be accessible through a live webcast on ThredUp's investor website, with a replay available for 30 days after the event.

ThredUp (Nasdaq: TDUP, LTSE: TDUP), a major online resale platform, announced the divestiture of its European business, Remix, through a management buyout led by Florin Filote, Remix's General Manager. ThredUp retains a minority interest in Remix and provided a final cash investment of $2 million to support operations. This strategic move enables ThredUp to concentrate on its core U.S. market while Remix focuses on growth in Europe. ThredUp CEO James Reinhart expressed confidence in Remix's future under Filote's leadership. Details of the transaction will be disclosed in a Form 8-K filing with the SEC.

ThredUp (NASDAQ: TDUP) has appointed Danielle Vermeer as Head of Social Commerce, effective January 2025. Vermeer, currently CEO of social commerce app Teleport, brings over 13 years of experience in ecommerce, fashion tech, and resale. In her new role, she will focus on making resale more engaging and accessible through innovative shopping experiences. Prior to Teleport, Vermeer led Amazon Fashion's luxury resale product launch. As part of this transition, Teleport will cease operations in late November 2024, with its users receiving exclusive ThredUp discounts.

ThredUp (TDUP) reported Q3 2024 results with total revenue of $73.0 million, down 11% year-over-year. U.S. revenue was $61.5 million, declining 10%. Gross margin improved to 71.2% from 69.0% in Q3 2023. Net loss widened to $24.8 million, including a $9.8 million impairment related to European operations. Active Buyers decreased 7% to 1.632 million, while Orders fell 14% to 1.553 million. The company signed a non-binding term sheet for a management buyout of its European business and raised Q4 and FY 2024 guidance for U.S. operations.

ThredUp (NASDAQ: TDUP, LTSE: TDUP), a leading online resale platform for apparel, shoes, and accessories, has announced the release date for its third quarter 2024 financial results. The company will disclose its financial performance for the quarter ending September 30, 2024, on Monday, November 4, 2024, after U.S. markets close. Following the release, ThredUp will host a conference call and live webcast at 1:30 p.m. PT / 4:30 p.m. ET on the same day. Investors and interested parties can access the live and archived webcast, along with all related earnings materials, on ThredUp's investor relations website at ir.thredup.com/news-events/events-and-presentations.