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ThredUp (TDUP) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · ThredUp (TDUP) Q3 2026 earnings results →
Q3 2026 Revenue up 7% year over year to $88.2M · 6¢ of every $1 of revenue lost · operating margin -6.0%
ThredUp made $88.2M in Q3 2026 (+7% Y/Y). Operating margin -6.0%, net loss $5.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $88.2M in Q3 2026, up 7% year over year and down 3% from the previous quarter.
Gross margin was 78.2%, down 1.1 points from Q3 2025. Operating costs exceeded revenue by $5.3M, an operating margin of -6.0%. Operating expenses grew 7% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+11%). The quarter ended with a net loss of $5.5M, narrower than the previous quarter's $5.9M loss.
Operating cash flow was $2.0M (down 67% year over year). Non-cash charges added back $3.2M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items used $653K. Capital expenditures of $2.0M left free cash flow of $12K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $88.2M | +7% | -6.0% | −$5.5M | $2.0M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $90.8M | +17% | -6.7% | −$5.9M | $4.5M |
| Q1 2026 | 10-Q | May 4, 2026 | $81.7M | +15% | -8.1% | −$6.5M | $4.8M |
| Q4 2025 | 10-K | Mar 2, 2026 | $79.7M | +18% | -8.4% | −$5.6M | −$1.5M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $82.2M | +34% | -5.3% | −$4.2M | $6.0M |
| Q2 2025 | 10-Q | Aug 4, 2025 | $77.7M | +16% | -6.8% | −$5.2M | $344K |
| Q1 2025 | 10-Q | May 5, 2025 | $71.3M | +10% | -7.6% | −$5.2M | $5.7M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About ThredUp
ThredUp operates one of the world’s largest online resale platforms for apparel, shoes and accessories. Our mission is to inspire the world to think secondhand first. We believe in a sustainable fashion future and we are proud that our business model creates a positive impact to the benefit of our buyers, sellers, clients, employees, investors and the environment. Our custom-built operating platform consists of distributed processing infrastructure, proprietary software and systems and data science expertise. This platform is powering the rapidly emerging resale economy, one of the fastest growing sectors in retail, according to GlobalData's assessment of the secondhand market in January 2025.
In its own words, from its 10-K, filed Mar 2, 2026.
ThredUp against its Retail-Catalog & Mail-Order Houses peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +8%. Operating margin: -6.0% against the peers' median 2.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TDUP ThredUp | Q3 2026 | $88.2M | +7% | -6.0% |
| AMZN Amazon.com | Q3 2026 | $201.9B | +12% | 13.9% |
| CPNG Coupang | Q3 2026 | $10.0B | +8% | -4.5% |
| CDW CDW | Q3 2026 | $6.8B | +18% | 7.2% |
| W Wayfair | Q3 2026 | $3.4B | +10% | 3.1% |
| CHWY Chewy | Q2 FY27 | $3.3B | +7% | 2.8% |
| NSIT Insight Enterprises | Q3 2026 | $2.4B | +22% | 2.8% |
| Old QVC Group | Q2 2026 | $2.0B | -11% | 2.6% |
| QVCG QVC Group | Q2 2026 | $1.8B | -11% | 3.5% |
Source: ThredUp 10-Q on SEC EDGAR · CIK 1484778 · Retail-Catalog & Mail-Order Houses
Guidance and outlook
13F: who owns TDUP and who is buying
More on TDUP
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results