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thredUP
(NASDAQ:TDUP)
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Rating:48Neutral
Price Target:
$2.50
▼(-9.09% Downside)
Action:Reiterated
Date:08/19/26
The score is held back primarily by very weak technicals (strong downtrend across moving averages with bearish momentum) and a still-unprofitable financial profile with thin, volatile free cash flow. These are partially offset by improving fundamentals (positive operating cash flow, narrowing losses, strong gross margin) and a moderately constructive earnings outlook that targets positive adjusted EBITDA and full-year cash-flow positivity despite promotional headwinds.
Positive Factors
Strong buyer and order growth
Expanding active buyers and order volumes indicate rising marketplace engagement and stronger network activity. This supports revenue scalability, improves the value of thredUP’s customer and seller ecosystem, and can provide a durable foundation for growth if retention remains healthy.
Negative Factors
Persistent GAAP unprofitability
The continued GAAP loss shows that the company has not yet achieved sustainable profitability despite strong gross margins and improving adjusted EBITDA. Ongoing operating losses can constrain reinvestment flexibility and make results more dependent on further execution improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong buyer and order growth
Expanding active buyers and order volumes indicate rising marketplace engagement and stronger network activity. This supports revenue scalability, improves the value of thredUP’s customer and seller ecosystem, and can provide a durable foundation for growth if retention remains healthy.
Read all positive factors
thredUP Key Performance Indicators (KPIs)
Any
Gross Profit by Segment
Reveals profitability across different business areas, highlighting which segments drive earnings and where there might be opportunities or challenges.
Reveals profitability across different business areas, highlighting which segments drive earnings and where there might be opportunities or challenges.
Data provided by:
The Fly
The FlythredUP (TDUP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$341.47M
Dividend YieldN/A
Average Volume (3M)3.02M
Price to Earnings (P/E)―
Beta (1Y)2.88
Revenue Growth15.58%
EPS Growth64.75%
CountryUS
Employees2,132
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-0.18
Shares Outstanding111,010,155
10 Day Avg. Volume1,916,905
30 Day Avg. Volume3,018,253
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)13.14
Price to Sales (P/S)2.50
P/FCF Ratio4.32K
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$7.64Price Target Upside177.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.1
Revenue Forecast (FY)$346.79M
thredUP Business Overview & Revenue Model
Company Description
ThredUp Inc., along with its affiliated entities, manages digital marketplaces where users can buy and sell pre-owned apparel, footwear, and accessories primarily for women and children. This company was founded in 2009 and maintains its primary c...
How the Company Makes Money
thredUP makes money primarily by facilitating secondhand transactions and providing supporting services across two main revenue areas: (1) Resale marketplace revenue and (2) Services to brands/retailers (where applicable).
1) Resale marketplace (...
thredUP Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call presented a mix of strong operational progress and product-led momentum (revenue growth of 16.9% YoY, margin expansion, record new buyers, AI-driven engagement lifts, premium supply growth and RaaS expansion) alongside meaningful near-term headwinds (incremental promotions causing a $3M Q2 hit and an expected ~$7M H2 headwind, modest GAAP net loss increase, slower sell-through in peer-to-peer listings). Management emphasizes the decisions are intentional to protect long-term brand and willingness to pay while continuing to invest in AI, marketing channels with higher LTV, and supply expansion. Overall the positives around growth, margins, buyer metrics, product innovations, and cash position outweigh the short-term promotional and guidance pressures.Positive Updates
Revenue Growth
Q2 revenue of $90.8M, up 16.9% year-over-year, outperforming internal expectations.
Negative Updates
Promotional Pressure and Q2 ASP Impact
Company was incrementally promotional in Q2 to drive conversion among price-sensitive shoppers, resulting in lower ASPs and average revenue per buyer; management estimates a $3M headwind to Q2 top-line from this activity.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Q2 revenue of $90.8M, up 16.9% year-over-year, outperforming internal expectations.
Read all positive updates
Company Guidance
ThredUp updated its back‑half 2026 guidance calling for Q3 revenue of $87–$89M (≈7% YoY at midpoint; 2‑yr average growth 20.3%), gross margin 78–79%, adjusted EBITDA ≈4% of revenue and ~132M basic shares outstanding, and Q4 revenue $85–$87M (≈8% YoY at midpoint; 2‑yr average growth 13.2%), gross margin 77.5–78.5%, adjusted EBITDA ≈6% and ~133M basic shares; full‑year 2026 revenue is guided to $344.4–$348.4M (≈11% YoY at midpoint; 2‑yr average growth 15.5%), gross margin 78.7–79.1% and adjusted EBITDA ≈4.7% (≈30 bps expansion vs. prior year), with the company expecting to be cash‑flow positive for the year. Management said elevated promotions will impose an ~ $7M revenue headwind in H2 (Q2 was ~ $3M), projects H2 2‑yr average revenue growth of 16.6%, expects CapEx roughly in line with 2025, and noted basic share counts of ~131–133M across the year.thredUP Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
52
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 334.30M | 310.81M | 260.03M | 258.50M | 288.38M | 251.79M |
| Gross Profit | 268.97M | 246.75M | 207.13M | 198.47M | 192.34M | 178.13M |
| EBITDA | -3.31M | -5.31M | -20.12M | -35.87M | -77.41M | -51.67M |
| Net Income | -22.23M | -20.21M | -76.99M | -71.25M | -92.28M | -63.18M |
Balance Sheet | ||||||
| Total Assets | 170.14M | 167.25M | 171.22M | 249.97M | 301.95M | 360.83M |
| Cash, Cash Equivalents and Short-Term Investments | 52.43M | 48.13M | 44.18M | 64.18M | 104.93M | 205.83M |
| Total Debt | 50.61M | 52.13M | 58.84M | 76.41M | 84.81M | 76.25M |
| Total Liabilities | 109.39M | 108.05M | 114.92M | 146.05M | 161.95M | 155.09M |
| Stockholders Equity | 60.75M | 59.19M | 56.30M | 103.92M | 140.00M | 205.73M |
Cash Flow | ||||||
| Free Cash Flow | 1.61M | 180.00K | -5.69M | -38.58M | -95.36M | -54.85M |
| Operating Cash Flow | 13.77M | 10.65M | 898.00K | -22.59M | -52.10M | -35.02M |
| Investing Cash Flow | -15.61M | -7.17M | -16.90M | 43.68M | 8.92M | -169.58M |
| Financing Cash Flow | -674.00K | -397.00K | -4.39M | -3.60M | -3.94M | 228.96M |
thredUP Technical Analysis
Negative
2.75
Price Trends
4.59
Negative
4.73
Negative
5.02
Negative
Market Momentum
-0.50
Negative
29.12
Positive
56.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TDUP, the sentiment is Negative. The current price of 2.75 is below the 20-day moving average (MA) of 2.77, below the 50-day MA of 4.59, and below the 200-day MA of 5.02, indicating a bearish trend. The MACD of -0.50 indicates Negative momentum. The RSI at 29.12 is Positive, neither overbought nor oversold. The STOCH value of 56.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TDUP.
thredUP Risk Analysis
thredUP disclosed 64 risk factors in its most recent earnings report. thredUP reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
thredUP Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.30B | 40.08 | 15.18% | ― | 5.18% | 24.25% | |
66 Neutral | $1.11B | 27.04 | -99.42% | 4.53% | 3.76% | -2.25% | |
66 Neutral | $6.57B | 34.32 | -17.67% | ― | 0.73% | 44.07% | |
62 Neutral | $873.64M | 18.29 | 12.22% | 2.52% | 34.75% | 138.72% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
51 Neutral | $906.85M | -7.95 | -304.73% | ― | 27.37% | 18.19% | |
48 Neutral | $341.47M | -14.61 | -37.30% | ― | 15.58% | 64.75% |
* Consumer Cyclical Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.