ThredUp Q4 Revenues Rise 18.5% to $79.7M with 29.5% More Active Buyers
ThredUp reported Q4 revenue of $79.7M, up 18.5% year over year, while narrowing its loss per share to $0.04, a 42.9% improvement. Record active buyers reached 1.65M (up 29.5%), and management forecasts 2026 revenue of $349–355M with a 6% adjusted EBITDA margin.
1. Q4 Financial Results
ThredUp delivered Q4 revenue of $79.7M, up 18.5% year over year and just above the $79.6M consensus. Loss per share improved to $0.04 from a $0.07 loss last year, while adjusted gross profit rose 17.3% to $63.4M, though gross margin slipped 80 basis points to 79.6%.
2. Customer Engagement Metrics
Active buyers hit a record 1.65M, a 29.5% increase year over year, outpacing the 1.5M estimate. Order volume climbed 27.3% to 1.56M, also exceeding forecasts, underscoring stronger user engagement and demand growth.
3. Guidance and Financial Health
The company closed the year with $53.1M in cash, generated its first full-year positive free cash flow and invested $10.5M in capital expenditures. Management projects 2026 revenue of $349–355M (13% growth), gross margins of 78–79% and a 6% adjusted EBITDA margin, with capex stable year over year.