ThredUp Inc. reports developments across its online resale marketplace for apparel, shoes and accessories. Company news commonly centers on quarterly results, gross margin, active buyers, orders and cash balances, along with updates to full-year financial outlooks. Its operating model includes a managed marketplace supported by processing infrastructure, proprietary software, systems and data science.
Updates also cover Resale-as-a-Service, the company’s platform for brands and retailers offering resale experiences, and the Universal Recommerce Layer. ThredUp also publishes resale market research and announces governance changes tied to board and audit committee oversight.
ThredUp (NASDAQ: TDUP, LTSE: TDUP), a leading online resale platform for apparel, shoes, and accessories, announced the participation of CEO James Reinhart and CFO Sean Sobers in the William Blair 44th Annual Growth Stock Conference. The event is scheduled for June 5, 2024, from 8:40 AM to 9:10 AM PT / 11:40 AM to 12:10 PM ET. The presentation will be webcast live on ThredUp’s investor website, with a replay available for 30 days afterward.
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.
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