Cash flow ThredUp Inc.

Equities

TDUP

US88556E1029

Internet Services

Market Closed - Nasdaq Other stock markets 04:00:00 2026-03-06 pm EST			5-day change	1st Jan Change
3.650 ^USD	-2.41%		-25.20%	-42.88%

Mar. 02	ThredUp Inc., Q4 2025 Earnings Call, Mar 02, 2026
Mar. 02	ThredUp Q4 Adjusted Loss Narrows, Revenue Rises; Q1 Guidance Set	MT

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Published financial data: THREDUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	252M	288M	322M	260M	311M
Total Revenues	252M	288M	322M	260M	311M
Cost of Goods Sold, Total	73.66M	96.04M	108M	52.91M	64.06M
Gross Profit	178M	192M	214M	207M	247M
Selling General & Admin Expenses, Total	241M	282M	286M	248M	267M
Other Operating Expenses, Total	241M	282M	286M	248M	267M
Operating Income	-62.39M	-89.49M	-71.84M	-40.62M	-20.68M
Interest Expense, Total	-2.28M	-805K	-2.24M	-2.52M	-1.92M
Net Interest Expenses	-2.28M	-805K	-2.24M	-2.52M	-1.92M
Currency Exchange Gains (Loss)	-	-	100K	-	-
Other Non Operating Income (Expenses)	1.56M	-1.96M	2.75M	3.17M	2.03M
EBT, Excl. Unusual Items	-63.1M	-92.25M	-71.23M	-39.97M	-20.57M
Gain (Loss) On Sale Of Investments	-	-	-	-	1.48M
Asset Writedown	-	-	-	-	-1.07M
EBT, Incl. Unusual Items	-63.1M	-92.25M	-71.23M	-39.97M	-20.16M
Income Tax Expense	80K	35K	19K	29K	59K
Earnings From Continuing Operations	-63.18M	-92.28M	-71.25M	-40M	-20.21M
Earnings Of Discontinued Operations	-	-	-	-36.99M	-
Net Income to Company	-63.18M	-92.28M	-71.25M	-76.99M	-20.21M
Net Income - (IS)	-63.18M	-92.28M	-71.25M	-76.99M	-20.21M
Net Income to Common Incl Extra Items	-63.18M	-92.28M	-71.25M	-76.99M	-20.21M
Net Income to Common Excl. Extra Items	-63.18M	-92.28M	-71.25M	-40M	-20.21M
Per Share Items
Net EPS - Basic	-0.82	-0.92	-0.68	-0.69	-0.17
Basic EPS - Continuing Operations	-0.82	-0.92	-0.68	-0.36	-0.17
Basic Weighted Average Shares Outstanding	77.09M	99.82M	105M	112M	122M
Net EPS - Diluted	-0.82	-0.92	-0.68	-0.69	-0.17
Diluted EPS - Continuing Operations	-0.82	-0.92	-0.68	-0.36	-0.17
Diluted Weighted Average Shares Outstanding	77.09M	99.82M	105M	112M	122M
Normalized Basic EPS	-0.51	-0.58	-0.42	-0.22	-0.11
Normalized Diluted EPS	-0.51	-0.58	-0.42	-0.22	-0.11
Supplemental Items
EBITDA	-53.23M	-75.45M	-53.1M	-23.29M	-7.75M
EBITA	-61.75M	-86.89M	-69.24M	-40.62M	-20.68M
EBIT	-62.39M	-89.49M	-71.84M	-40.62M	-20.68M
EBITDAR	-46.25M	-63.73M	-40.45M	-13.41M	2.6M
Total Revenues (As Reported)	252M	288M	322M	260M	-
Effective Tax Rate - (Ratio)	-0.13	-0.04	-0.03	-0.07	-0.29
Current Domestic Taxes	80K	35K	19K	-	-
Total Current Taxes	80K	35K	19K	-	-
Normalized Net Income	-39.44M	-57.66M	-44.52M	-24.98M	-12.86M
Interest on Long-Term Debt	2.28M	805K	2.24M	2.52M	1.92M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	41.5M	51.1M
Marketing Expenses	62.22M	61.22M	62.49M	6.65M	7.4M
Selling and Marketing Expenses	63.62M	64.37M	66.27M	48.64M	58.98M
Research And Development Expense From Footnotes	-	-	-	31.3M	32.1M
Net Rental Expense, Total	6.98M	11.73M	12.66M	9.88M	10.35M
Imputed Operating Lease Interest Expense	1.87M	938K	2.81M	3.3M	2.86M
Imputed Operating Lease Depreciation	5.11M	10.79M	9.85M	6.59M	7.49M
Stock-Based Comp., S&M Exp. (Total)	1.4M	3.14M	3.78M	487K	480K
Stock-Based Comp., SG&A Exp. (Total)	11.55M	23.67M	27.9M	25.36M	18.52M
Total Stock-Based Compensation	12.96M	26.82M	31.68M	25.85M	19M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	84.55M	38.03M	56.08M	31.85M	38.63M
Short Term Investments	121M	66.9M	8.1M	12.32M	9.5M
Total Cash And Short Term Investments	206M	105M	64.18M	44.18M	48.13M
Accounts Receivable, Total	4.14M	4.67M	7.81M	3.57M	2.44M
Other Receivables	-	-	-	-	-
Total Receivables	4.14M	4.67M	7.81M	3.57M	2.44M
Inventory	9.82M	17.52M	15.69M	690K	-
Prepaid Expenses	-	-	-	-	-
Restricted Cash	560K	383K	462K	3.69M	225K
Other Current Assets, Total	8.06M	6.69M	5.74M	4.8M	5.89M
Total Current Assets	228M	134M	93.89M	56.92M	56.68M
Gross Property Plant And Equipment	115M	171M	178M	158M	164M
Accumulated Depreciation	-20.56M	-31.93M	-47.88M	-61.12M	-71.37M
Net Property Plant And Equipment	94.81M	139M	130M	97.33M	92.62M
Long-term Investments	3.8M	31K	-	-	-
Goodwill	12.24M	11.59M	11.96M	10.75M	10.75M
Other Intangibles, Total	13.85M	10.5M	8.16M	-	-
Other Long-Term Assets, Total	7.72M	7M	6.18M	6.22M	7.2M
Total Assets	361M	302M	250M	171M	167M
Liabilities
Accounts Payable, Total	13.34M	7.8M	9.46M	8.33M	10.33M
Accrued Expenses, Total	14.22M	15.24M	9.37M	8.63M	8.53M
Current Portion of Long-Term Debt	7.77M	3.88M	3.84M	3.86M	3.88M
Current Portion of Leases	3.93M	6.41M	5.95M	4.34M	5.4M
Current Income Taxes Payable	5.73M	4.33M	4.97M	2.61M	2.57M
Unearned Revenue Current, Total	19.1M	25.68M	17.78M	15.56M	9.6M
Other Current Liabilities	25.33M	21.07M	25.31M	18.19M	22.08M
Total Current Liabilities	89.41M	84.41M	76.67M	61.52M	62.38M
Long-Term Debt	27.56M	25.79M	22.01M	18.15M	14.28M
Long-Term Leases	37M	48.73M	44.62M	32.49M	28.58M
Other Non Current Liabilities	1.12M	3.02M	2.75M	2.76M	2.82M
Total Liabilities	155M	162M	146M	115M	108M
Preferred Stock Convertible	-	-	-	-	-
Preferred Stock - Others	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	10K	10K	11K	11K	12K
Additional Paid In Capital	522M	552M	585M	612M	635M
Retained Earnings	-315M	-408M	-479M	-556M	-576M
Comprehensive Income and Other	-1.09M	-4.23M	-2.38M	3K	3K
Total Common Equity	206M	140M	104M	56.3M	59.19M
Total Equity	206M	140M	104M	56.3M	59.19M
Total Liabilities And Equity	361M	302M	250M	171M	167M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	98.78M	102M	109M	116M	127M
ECS Total Common Shares Outstanding	98.44M	102M	109M	116M	127M
Book Value / Share	2.09	1.38	0.96	0.48	0.47
Tangible Book Value	180M	118M	83.8M	45.56M	48.45M
Tangible Book Value Per Share	1.82	1.16	0.77	0.39	0.38
Total Debt	76.26M	84.81M	76.41M	58.84M	52.13M
Net Debt	-130M	-20.12M	12.23M	14.66M	4M
Debt Equivalent Oper. Leases	55.83M	93.82M	101M	79.06M	82.8M
Account Code - Inventory Valuation	8	8	8	8	3
Inventories - Raw Materials, Total	908K	-	-	-	-
Inventories - Work In Process, Total	670K	2.64M	3.33M	-	-
Inventories - Finished Goods, Total	8.25M	14.88M	12.35M	-	-
Machinery, Total	55.07M	65.29M	90.11M	88.43M	94.85M
Full Time Employees	2.89K	2.42K	2.38K	1.63K	2.13K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-63.18M	-92.28M	-71.25M	-76.99M	-20.21M
Depreciation & Amortization - CF	8.52M	11.43M	16.13M	17.33M	12.92M
Amortization of Goodwill and Intangible Assets - (CF)	638K	2.6M	2.6M	-	-
Depreciation & Amortization, Total	9.16M	14.03M	18.73M	17.33M	12.92M
Asset Writedown & Restructuring Costs	3.98M	6.47M	-	-	1.07M
Stock-Based Compensation (CF)	12.96M	26.82M	31.68M	25.85M	19M
Net Cash From Discontinued Operations	-	-	-	-4M	-
Other Operating Activities, Total	2.34M	5.59M	7.21M	41.51M	3.81M
Change In Accounts Receivable	-1.19M	-530K	-3.13M	1.48M	1.13M
Change In Inventories	-2.74M	-7.89M	2.21M	2.13M	-
Change In Accounts Payable	871K	-3.98M	1.7M	3.91M	1.42M
Change in Other Net Operating Assets	2.78M	-336K	-9.75M	-10.32M	-8.49M
Cash from Operations	-35.02M	-52.1M	-22.59M	898K	10.65M
Capital Expenditure	-19.83M	-43.25M	-15.98M	-6.58M	-10.47M
Cash Acquisitions	-23.58M	-	-	-	-
Investment in Marketable and Equity Securities, Total	-126M	52.18M	59.66M	-3.68M	3.31M
Other Investing Activities, Total	-	-	-	-6.64M	-
Cash from Investing	-170M	8.92M	43.68M	-16.9M	-7.17M
Long-Term Debt Issued, Total	4.62M	391K	-	-	-
Total Debt Issued	4.62M	391K	-	-	-
Long-Term Debt Repaid, Total	-4M	-6.33M	-4M	-4M	-4M
Total Debt Repaid	-4M	-6.33M	-4M	-4M	-4M
Issuance of Common Stock	233M	4.2M	5.16M	3.67M	27.93M
Repurchase of Common Stock	-	-2.2M	-4.76M	-4.06M	-24.33M
Issuance of Preferred Stock	-	-	-	-	-
Other Financing Activities, Total	-4.73M	-	-	-	-
Cash from Financing	229M	-3.94M	-3.6M	-4.39M	-397K
Foreign Exchange Rate Adjustments	-64K	-672K	-68K	-586K	-
Net Change in Cash	24.3M	-47.79M	17.42M	-20.98M	3.09M
Supplemental Items
Cash Interest Paid	2.08M	2.06M	2.71M	2.4M	1.8M
Cash Income Tax Paid (Refund)	64K	-	-	-	-
Levered Free Cash Flow	-27.98M	-69.1M	-19.54M	13.43M	11.31M
Unlevered Free Cash Flow	-26.55M	-68.6M	-18.14M	15.01M	12.51M
Change In Net Working Capital	-10.15M	10.27M	7.68M	-3.8M	-3.98M
Net Debt Issued / Repaid	625K	-5.94M	-4M	-4M	-4M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-15.48	-16.88	-16.27	-12.05	-7.64
Return on Total Capital	-21.23	-22.07	-22.16	-18.05	-11.41
Return On Equity %	-54.6	-53.38	-58.42	-49.93	-35
Return on Common Equity	768.42	-53.38	-58.42	-49.93	-35
Margin Analysis
Gross Profit Margin %	70.75	66.7	66.39	79.65	79.39
SG&A Margin	95.52	97.73	88.7	95.27	86.04
EBITDA Margin %	-21.14	-26.16	-16.49	-8.96	-2.49
EBITA Margin %	-24.52	-30.13	-21.5	-15.62	-6.65
EBIT Margin %	-24.78	-31.03	-22.31	-15.62	-6.65
Income From Continuing Operations Margin %	-25.09	-32	-22.13	-15.38	-6.5
Net Income Margin %	-25.09	-32	-22.13	-29.61	-6.5
Net Avail. For Common Margin %	-25.09	-32	-22.13	-15.38	-6.5
Normalized Net Income Margin	-15.66	-19.99	-13.82	-9.61	-4.14
Levered Free Cash Flow Margin	-11.11	-23.96	-6.07	5.16	3.64
Unlevered Free Cash Flow Margin	-10.55	-23.79	-5.63	5.77	4.02
Asset Turnover
Asset Turnover	1	0.87	1.17	1.23	1.84
Fixed Assets Turnover	3.16	2.47	2.4	2.56	3.27
Receivables Turnover (Average Receivables)	84.51	65.5	51.6	60.73	103.54
Inventory Turnover (Average Inventory)	11.04	7.02	6.52	30.11	-
Short Term Liquidity
Current Ratio	2.55	1.59	1.22	0.93	0.91
Quick Ratio	2.35	1.3	0.94	0.78	0.81
Operating Cash Flow to Current Liabilities	-0.39	-0.62	-0.29	0.01	0.17
Days Sales Outstanding (Average Receivables)	4.32	5.57	7.07	6.03	3.53
Days Outstanding Inventory (Average Inventory)	33.06	51.96	56	12.15	-
Average Days Payable Outstanding	51.86	37.18	29.6	43.82	53.15
Cash Conversion Cycle (Average Days)	-14.48	20.35	33.47	-25.64	-
Long Term Solvency
Total Debt/Equity	37.06	60.58	73.53	104.51	88.07
Total Debt / Total Capital	27.04	37.72	42.37	51.1	46.83
LT Debt/Equity	31.38	53.22	64.12	89.95	72.4
Long-Term Debt / Total Capital	22.89	33.15	36.95	43.98	38.5
Total Liabilities / Total Assets	42.98	53.63	58.43	67.12	64.61
EBIT / Interest Expense	-27.42	-111.16	-32.08	-16.09	-10.77
EBITDA / Interest Expense	-20.33	-79.16	-18.06	-5.31	1.35
(EBITDA - Capex) / Interest Expense	-29.05	-132.89	-25.2	-7.92	-4.1
Total Debt / EBITDA	-1.65	-1.33	-1.89	-4.39	20.07
Net Debt / EBITDA	2.8	0.32	-0.3	-1.09	1.54
Total Debt / (EBITDA - Capex)	-1.15	-0.79	-1.35	-2.94	-6.62
Net Debt / (EBITDA - Capex)	1.96	0.19	-0.22	-0.73	-0.51
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	35.36	14.53	11.67	0.59	19.53
Gross Profit, 1 Yr. Growth %	39	7.97	11.16	4.36	19.13
EBITDA, 1 Yr. Growth %	29.81	41.75	-29.62	-39.93	-66.72
EBITA, 1 Yr. Growth %	32.54	40.71	-20.31	-23.36	-49.1
EBIT, 1 Yr. Growth %	33.91	43.44	-19.72	-23.36	-49.1
Earnings From Cont. Operations, 1 Yr. Growth %	31.95	46.07	-22.79	-23.6	-49.46
Net Income, 1 Yr. Growth %	31.95	46.07	-22.79	8.05	-73.74
Normalized Net Income, 1 Yr. Growth %	31.94	46.2	-19.51	-23.63	-48.54
Diluted EPS Before Extra, 1 Yr. Growth %	-80.2	12.82	-26.52	-28.44	-53.51
Accounts Receivable, 1 Yr. Growth %	126.88	12.89	67.34	-28.62	-31.68
Inventory, 1 Yr. Growth %	179.2	78.31	-10.46	-75.57	-
Net Property, Plant and Equip., 1 Yr. Growth %	46.33	46.23	-6.38	-8.11	-4.84
Total Assets, 1 Yr. Growth %	152.48	-16.32	-17.22	-31.5	-2.32
Tangible Book Value, 1 Yr. Growth %	-180.86	-34.36	-28.93	-50.86	6.35
Common Equity, 1 Yr. Growth %	-192.6	-31.95	-25.77	-45.82	5.14
Cash From Operations, 1 Yr. Growth %	83.3	48.79	-56.64	-103.98	1.09K
Capital Expenditures, 1 Yr. Growth %	2.08	118.13	-63.04	-49.77	59.05
Levered Free Cash Flow, 1 Yr. Growth %	21.22	147.01	-71.72	-213.48	-15.78
Unlevered Free Cash Flow, 1 Yr. Growth %	19.27	158.34	-73.55	-243.81	-16.65
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	23.98	24.51	13.09	-5.04	9.65
Gross Profit, 2 Yr. CAGR %	25.83	22.51	9.56	3.77	11.5
EBITDA, 2 Yr. CAGR %	27.91	35.65	-0.12	-44.44	-55.28
EBITA, 2 Yr. CAGR %	29.52	36.56	5.89	-31.63	-37.54
EBIT, 2 Yr. CAGR %	30.19	38.59	7.31	-32.63	-37.54
Earnings From Cont. Operations, 2 Yr. CAGR %	28.61	38.84	6.2	-34.16	-37.86
Net Income, 2 Yr. CAGR %	28.61	38.84	6.2	-8.66	-46.74
Normalized Net Income, 2 Yr. CAGR %	28.59	38.89	6.25	-32.8	-37.31
Diluted EPS Before Extra, 2 Yr. CAGR %	-53.07	-52.74	-8.95	-37.84	-42.32
Accounts Receivable, 2 Yr. CAGR %	41.97	60.04	37.44	-12.59	-30.17
Inventory, 2 Yr. CAGR %	58.86	123.12	26.36	-80.15	-
Net Property, Plant and Equip., 2 Yr. CAGR %	90.76	46.28	17	-16.21	-6.49
Total Assets, 2 Yr. CAGR %	71.58	45.36	-16.77	-24.7	-18.2
Tangible Book Value, 2 Yr. CAGR %	-0.99	-27.15	-31.7	-37.84	-27.71
Common Equity, 2 Yr. CAGR %	5.96	-20.62	-28.93	-36.58	-24.53
Cash From Operations, 2 Yr. CAGR %	86.3	65.15	-19.68	-86.87	-31.33
Capital Expenditures, 2 Yr. CAGR %	44.44	49.22	-10.22	-60.98	-10.62
Levered Free Cash Flow, 2 Yr. CAGR %	112.77	73.04	-16.42	-55.92	-2.24
Unlevered Free Cash Flow, 2 Yr. CAGR %	124.1	75.53	-17.34	-53.23	9.49
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	24.8	20.75	20.07	1.08	2.53
Gross Profit, 3 Yr. CAGR %	31.68	19.57	18.6	5.16	8.66
EBITDA, 3 Yr. CAGR %	20.95	32.37	9	-24.08	-53.16
EBITA, 3 Yr. CAGR %	21.7	33.15	14.12	-13.03	-38.03
EBIT, 3 Yr. CAGR %	22.12	34.47	15.53	-13.33	-38.64
Earnings From Cont. Operations, 3 Yr. CAGR %	22.72	34.18	14.17	-14.13	-39.72
Net Income, 3 Yr. CAGR %	22.72	34.18	14.17	6.81	-39.72
Normalized Net Income, 3 Yr. CAGR %	22.71	34.21	14.2	-14.12	-38.52
Diluted EPS Before Extra, 3 Yr. CAGR %	-37.82	-37.13	-45.25	-24.17	-43.57
Accounts Receivable, 3 Yr. CAGR %	43.01	31.53	62.43	-4.81	-19.48
Inventory, 3 Yr. CAGR %	16.69	65.1	64.58	-58.74	-
Net Property, Plant and Equip., 3 Yr. CAGR %	65.58	74.58	26.06	0.88	-12.58
Total Assets, 3 Yr. CAGR %	96.94	35.06	20.49	-22	-17.88
Tangible Book Value, 3 Yr. CAGR %	5.39	-13.67	-27.75	-36.7	-25.66
Common Equity, 3 Yr. CAGR %	10.27	-8.58	-22.38	-35.08	-24.94
Cash From Operations, 3 Yr. CAGR %	15.91	72.85	5.75	-70.51	-41.09
Capital Expenditures, 3 Yr. CAGR %	12.5	65.72	-6.29	-30.75	-37.67
Levered Free Cash Flow, 3 Yr. CAGR %	-	123.62	-5.39	-21.7	-45.3
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	134.98	-6.6	-17.32	-43.29
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	19.97	9.68	10.81
Gross Profit, 5 Yr. CAGR %	-	-	22.34	12.98	14
EBITDA, 5 Yr. CAGR %	-	-	12.04	-6.47	-28.33
EBITA, 5 Yr. CAGR %	-	-	15.11	1.99	-15
EBIT, 5 Yr. CAGR %	-	-	15.96	1.99	-15
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	15.82	0.93	-15.84
Net Income, 5 Yr. CAGR %	-	-	15.82	15.05	-15.84
Normalized Net Income, 5 Yr. CAGR %	-	-	15.84	0.93	-15.53
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-27.57	-37.42	-47.44
Accounts Receivable, 5 Yr. CAGR %	-	-	40.76	11.69	5.98
Inventory, 5 Yr. CAGR %	-	-	20.47	-29.25	-
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	44.11	30.16	7.41
Total Assets, 5 Yr. CAGR %	-	-	39.55	6.92	3.19
Tangible Book Value, 5 Yr. CAGR %	-	-	-11.39	-24.3	-26.26
Common Equity, 5 Yr. CAGR %	-	-	-7.5	-21.02	-23.24
Cash From Operations, 5 Yr. CAGR %	-	-	0.09	-38.36	-11.03
Capital Expenditures, 5 Yr. CAGR %	-	-	2.8	-7.08	-11.62
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	16.79	-13.29
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	23.2	-10.89