Welcome to our dedicated page for ThredUp news (Ticker: $TDUP), a resource for investors and traders seeking the latest updates and insights on ThredUp stock.
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ThredUp Inc. (Nasdaq: TDUP) reported first quarter revenue of $79.6 million, up 5% year-over-year, with a gross margin of 69.5% and gross profit increase of 8%. The company expects positive adjusted EBITDA margin and free cash flow for 2024. ThredUp announced a reorganization focusing on AI-driven operations, reducing expenses by $17 million. The company launched new AI tools, an online concept store, hired a GM for Europe, and expanded its RaaS programs. ThredUp's 2024 Resale Report highlighted the growth of the secondhand market. Financial outlook for Q2 includes revenue of $81.0-83.0 million, gross margin of 71.0-73.0%, and adjusted EBITDA margin of 1.0-3.0%. For the full fiscal year, revenue is expected to be $328.0-338.0 million with a gross margin of 71.0-72.0% and adjusted EBITDA margin of 2.0-4.0%.
ThredUp (Nasdaq: TDUP) appoints Florin Filote as the General Manager of Europe, leading the company's operations in nine Central and Eastern European countries. Former executive of Pigu Hobby Hall Group and eMAG, Filote brings two decades of retail and ecommerce experience to drive innovation and growth in the European secondhand market. Long-time ThredUp executive Dan DeMeyere transitions to Chief Product and Technology Officer for the U.S. business.
