InsiderClue
Stocks · Consumer discretionary · Retail-Catalog & Mail-Order Houses

ThredUp Inc.

TDUP Clue Score47
United States Fiscal year ends December CIK 0001484778
$2.48 +5.53% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $2.48 −87.83% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 26 Mar 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2019Revenue163.8Operating income−36.8Net income−38.2EPS, diluted−3.72Fiscal year 2020Revenue186.0 +13.6%Operating income−46.6Net income−47.9EPS, diluted−4.14Fiscal year 2021Revenue251.8 +35.4%Operating income−62.4Net income−63.2EPS, diluted−0.82Fiscal year 2022Revenue288.4 +14.5%Operating income−89.5Net income−92.3EPS, diluted−0.92Fiscal year 2023Revenue258.5 −10.4%Operating income−53.0Net income−71.2EPS, diluted−0.68Fiscal year 2024Revenue260.0 +0.6%Operating income−40.6Net income−77.0EPS, diluted−0.69Fiscal year 2025Revenue310.8 +19.5%Operating income−21.7Net income−20.2EPS, diluted−0.17
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 163.8 186.0 251.8 288.4 258.5 260.0 310.8
Growth +13.6% +35.4% +14.5% −10.4% +0.6% +19.5%
Operating income −36.8 −46.6 −62.4 −89.5 −53.0 −40.6 −21.7
Net income −38.2 −47.9 −63.2 −92.3 −71.2 −77.0 −20.2
Growth
EPS, diluted −3.72 −4.14 −0.82 −0.92 −0.68 −0.69 −0.17

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2019Gross margin68.7%Operating margin−22.5%Net margin−23.3%Free cash flow margin−12.0%Fiscal year 2020Gross margin68.9%Operating margin−25.0%Net margin−25.7%Free cash flow margin−20.7%Fiscal year 2021Gross margin70.7%Operating margin−24.8%Net margin−25.1%Free cash flow margin−21.8%Fiscal year 2022Gross margin66.7%Operating margin−31.0%Net margin−32.0%Free cash flow margin−33.1%Fiscal year 2023Gross margin76.8%Operating margin−20.5%Net margin−27.6%Free cash flow margin−13.8%Fiscal year 2024Gross margin79.7%Operating margin−15.6%Net margin−29.6%Free cash flow margin−0.6%Fiscal year 2025Gross margin79.4%Operating margin−7.0%Net margin−6.5%Free cash flow margin0.1%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 68.7% 68.9% 70.7% 66.7% 76.8% 79.7% 79.4%
Operating margin −22.5% −25.0% −24.8% −31.0% −20.5% −15.6% −7.0%
Net margin −23.3% −25.7% −25.1% −32.0% −27.6% −29.6% −6.5%
Free cash flow margin −12.0% −20.7% −21.8% −33.1% −13.8% −0.6% 0.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow−10.1Capital expenditure−9.5Free cash flow−19.6Fiscal year 2020Operating cash flow−19.1Capital expenditure−19.4Free cash flow−38.5Fiscal year 2021Operating cash flow−35.0Capital expenditure−19.8Free cash flow−54.8Fiscal year 2022Operating cash flow−52.1Capital expenditure−43.3Free cash flow−95.4Fiscal year 2023Operating cash flow−22.6Capital expenditure−13.1Free cash flow−35.7Fiscal year 2024Operating cash flow4.9Capital expenditure−6.6Free cash flow−1.7Fiscal year 2025Operating cash flow10.7Capital expenditure−10.5Free cash flow0.2
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −10.1 −19.1 −35.0 −52.1 −22.6 4.9 10.7
Capital expenditure −9.5 −19.4 −19.8 −43.3 −13.1 −6.6 −10.5
Free cash flow −19.6 −38.5 −54.8 −95.4 −35.7 −1.7 0.2
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash87.9Shareholders’ equity−183.2Fiscal year 2020Cash64.5Total debt34.5Net cash (debt)30.0Shareholders’ equity−222.2Fiscal year 2021Cash84.6Total debt35.3Net cash (debt)49.2Shareholders’ equity205.7Debt to equity0.17Fiscal year 2022Cash38.0Total debt29.7Net cash (debt)8.4Shareholders’ equity140.0Debt to equity0.21Fiscal year 2023Cash54.3Total debt25.8Net cash (debt)28.5Shareholders’ equity103.9Debt to equity0.25Fiscal year 2024Cash31.9Total debt22.0Net cash (debt)9.8Shareholders’ equity56.3Debt to equity0.39Fiscal year 2025Cash38.6Total debt18.2Net cash (debt)20.5Shareholders’ equity59.2Debt to equity0.31
FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 87.9 64.5 84.6 38.0 54.3 31.9 38.6
Total debt n/a 34.5 35.3 29.7 25.8 22.0 18.2
Net cash (debt) n/a 30.0 49.2 8.4 28.5 9.8 20.5
Shareholders’ equity −183.2 −222.2 205.7 140.0 103.9 56.3 59.2
Debt to equity n/a n/a 0.17 0.21 0.25 0.39 0.31

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021† 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
163.8 186.0 251.8 288.4 258.5 260.0 310.8
Growth +13.6% +35.4% +14.5% −10.4% +0.6% +19.5%
51.3 57.9 73.7 96.0 60.0 52.9 64.1
112.5 128.1 178.1 192.3 198.5 207.1 246.8
Growth +13.9% +39.0% +8.0% +3.2% +4.4% +19.1%
19.0 20.7 28.7 37.6 32.6 31.3 32.1
22.3 28.6 48.8 61.8 56.7 56.9 56.7
−36.8 −46.6 −62.4 −89.5 −53.0 −40.6 −21.7
Growth
−38.2 −47.8 −63.1 −92.2 −52.3 −40.0 −20.2
0.0 0.1 0.1 0.0 0.0 0.0 0.1
−38.2 −47.9 −63.2 −92.3 −71.2 −77.0 −20.2
Growth
Per share
−3.72 −4.14 −0.82 −0.92 −0.68 −0.69 −0.17
−3.72 −4.14 −0.82 −0.92 −0.68 −0.69 −0.17
Growth
10.3 11.6 77.1 99.8 104.9 112.0 121.7
10.3 11.6 77.1 99.8 104.9 112.0 121.7
Growth +12.7% +566.6% +29.5% +5.1% +6.8% +8.7%

† The diluted share count jumps at 2021, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 10.8% a year over five years.
  • Operating margin is up 18.0 points on five years ago, at -7.0%.
  • A net loss in 7 of 7 years on file.