Filing Flows › ThredUp (TDUP) › Q1 2025
ThredUp (TDUP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
ThredUp (TDUP) reported revenue of $71.3M for the first quarter 2025 (Q1 2025), +10% from a year earlier and +158% from the quarter before. Operating margin was -7.6%, net loss $5.2M (7.3% of revenue).
ThredUp, Q1 2025: revenue $71.3M (+10% year over year), operating margin -7.6%, net loss $5.2M, operating cash flow $5.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $71.3M | +158% | +10% |
| Operating profit | −$5.4M | — | — |
| Net earnings | −$5.2M | — | — |
| Operating cash flow | $5.7M | +12% | +312% |
| Free cash flow | $3.9M | +0.4% | 15× |
What changed
Revenue was $71.3M in Q1 2025, up 10% year over year and up 158% from the previous quarter.
Gross margin was 79.1%, down 1.1 points from a year earlier. Operating costs exceeded revenue by $5.4M, an operating margin of -7.6%. Operating expenses fell 4% while revenue rose 10%. The quarter ended with a net loss of $5.2M, narrower than the previous quarter's $21.7M loss.
Operating cash flow was $5.7M (up 312% year over year). Non-cash charges added back $3.2M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items added $2.3M. Capital expenditures of $1.8M left free cash flow of $3.9M.
Questions
What was ThredUp's revenue in the first quarter 2025?
ThredUp (TDUP) reported revenue of $71.3M for the first quarter 2025 (Q1 2025), +10% from a year earlier and +158% from the quarter before.
Was ThredUp profitable in the first quarter 2025?
Operating loss was $5.4M (-7.6% of revenue) and net loss $5.2M.
Source: ThredUp 10-Q on SEC EDGAR.