TDUP PRESS-RELEASE SEC Filing Analysis

Final — all horizons settled through T+60d

TDUP ▲ +21.35% at T+60d

LONG call ✓ call won +21.35% · α vs SPY +11.04% · entry $3.84 → $4.66

Last close $4.93 (close Jun 8) · +28.39% from $3.84 entry

Entry anchored
Mar 2, 03:59 PM ET
via Databento tick

T+1d

+4.17%

call +4.17% · α +3.41%

$4.00

settled 3mo ago

T+5d

-2.86%

call -2.86% · α -2.39%

$3.73

settled 3mo ago

T+20d

-14.58%

call -14.58% · α -10.18%

$3.28

settled 2mo ago

T+60d

+21.35%

call +21.35% · α +11.04%

$4.66

settled 14d ago

Price Chart

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Executive Summary

ThredUp reported strong Q4 and full-year 2025 results with 18% YoY revenue growth to $79.7 million and 20% growth for the full year to $310.8 million. Active Buyers grew 30% YoY, and the company achieved positive annual cash flow of $3.1 million for the first time. Despite narrowing losses and improving Adjusted EBITDA, profitability remains negative. The company guided for 13% revenue growth in 2026 with expanding margins, signaling a path toward sustained profitability.

Key Financial Metrics

Revenue

$310.8M

+20.0% YoY

EPS

$-0.17

Guidance

$349.0M-$355.0M

raised

Actionable Insight

Traders should monitor whether ThredUp can convert improving top-line momentum and cash flow into GAAP profitability in 2026. The stock may re-rate if Adjusted EBITDA margin expansion materializes as guided, especially given the company's first-ever positive annual cash flow.

Key Facts

Q4 2025 revenue: $79.7 million (+18% YoY)
Full-year 2025 revenue: $310.8 million (+20% YoY)
Q4 gross margin: 79.6% (down from 80.4% YoY)
Loss from continuing operations: $5.6 million in Q4 2025 vs. $8.1 million in Q4 2024
Adjusted EBITDA: $2.9 million in Q4 2025 (3.7% margin), down from $5.0 million (7.4%) in Q4 2024
Active Buyers: 1.65 million (+30% YoY)
Achieved positive annual total cash flow of $3.1 million for the first time
2026 guidance: Revenue of $349M–$355M (+13% YoY at midpoint), Adjusted EBITDA margin of ~6.0%

Financial Impact

Revenue growth accelerating to 20% annually, cash flow turned positive, and 2026 guidance implies margin expansion with Adjusted EBITDA margin nearly doubling to 6.0%. However, GAAP profitability remains elusive with a $20.2M net loss in 2025.

revenuegross_marginepsebitdacash_flow

Risk Factors

Adjusted EBITDA declined YoY in Q4 despite revenue growth, indicating margin pressure
GAAP losses persist ($20.2M in 2025), and path to net income is uncertain
Forward-looking Adjusted EBITDA guidance excludes unpredictable items like stock-based compensation ($24.4M expected in 2026), which could distort actual profitability

Market Snapshot

Exchange

Nasdaq

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3247848

7 reports for TDUP

T+1T+5T+20T+60

33% Hit rate 1 of 3 directional calls best @ T+20▲ +14.58%Mar 3, 2026

Filters

Reports for TDUP — sortable, filterable
	Type				Now
Jun 3, 2026 6d ago	Insider Cluster BEARISH ★ 5/10	$4.80 $4.82	▼ −0.42%	▼ −3.02%	$4.93 (−2.71%)
May 4, 2026 5w ago	Press Release BULLISH ★ 6/10	$5.01 $5.01	· 0.00%	▼ −1.38%	$4.93 (−1.60%)
Apr 7, 2026 9w ago	DEFA14A NEUTRAL ★ 3/10	$3.74 $3.80	▲ +1.60%	▲ +1.03%	$4.93 (+31.82%)
Apr 6, 2026 9w ago	Press Release NEUTRAL ★ 3/10	$3.50 $3.74	▲ +6.86%	▲ +4.32%	$4.93 (+40.86%)
Mar 3, 2026 14w ago	Insider Cluster NEUTRAL ★ 3/10	$3.84 $4.00	▲ +4.17%	▲ +3.41%	$4.93 (+28.39%)
Mar 3, 2026 14w ago	Insider Cluster BEARISH ★ 7/10	$3.84 $4.00	▼ −4.17%	▼ −3.41%	$4.93 (−28.39%)
Mar 2, 2026 14w ago	Press Release BULLISH ★ 7/10	$3.84 $4.00	▲ +4.17%	▲ +3.41%	$4.93 (+28.39%)

US Market Status

Market Closed — Opens in 7h 20m

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