Filing Flows › ThredUp (TDUP) › Q1 2026
ThredUp (TDUP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
ThredUp (TDUP) reported revenue of $81.7M for the first quarter 2026 (Q1 2026), +15% from a year earlier and +2% from the quarter before. Operating margin was -8.1%, net loss $6.5M (7.9% of revenue).
ThredUp, Q1 2026: revenue $81.7M (+15% year over year), operating margin -8.1%, net loss $6.5M, operating cash flow $4.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $81.7M | +2% | +15% |
| Operating profit | −$6.6M | — | — |
| Net earnings | −$6.5M | — | — |
| Operating cash flow | $4.8M | — | -17% |
| Free cash flow | $643K | — | -84% |
What changed
Revenue was $81.7M in Q1 2026, up 15% year over year and up 2% from the previous quarter.
Gross margin was 79.2%, up 0.1 points from Q1 2025. Operating costs exceeded revenue by $6.6M, an operating margin of -8.1%. Operating expenses grew 15% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+16%). The quarter ended with a net loss of $6.5M, wider than the previous quarter's $5.6M loss.
Operating cash flow was $4.8M (down 17% year over year). Non-cash charges added back $3.3M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items added $2.4M. After purchases of property and equipment ($4.1M), free cash flow as the company reports it was $643K.
Questions
What was ThredUp's revenue in the first quarter 2026?
ThredUp (TDUP) reported revenue of $81.7M for the first quarter 2026 (Q1 2026), +15% from a year earlier and +2% from the quarter before.
Was ThredUp profitable in the first quarter 2026?
Operating loss was $6.6M (-8.1% of revenue) and net loss $6.5M.
Source: ThredUp 10-Q on SEC EDGAR.