Filing Flows › ThredUp (TDUP) › Q2 2025
ThredUp (TDUP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
ThredUp (TDUP) reported revenue of $77.7M for the second quarter 2025 (Q2 2025), +16% from a year earlier and +9% from the quarter before. Operating margin was -6.8%, net loss $5.2M (6.7% of revenue).
ThredUp, Q2 2025: revenue $77.7M (+16% year over year), operating margin -6.8%, net loss $5.2M, operating cash flow $344K. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $77.7M | +9% | +16% |
| Operating profit | −$5.2M | — | — |
| Net earnings | −$5.2M | — | — |
| Operating cash flow | $344K | -94% | — |
What changed
Revenue was $77.7M in Q2 2025, up 16% year over year and up 9% from the previous quarter.
Gross margin was 79.5%, up 0.7 points from a year earlier. Operating costs exceeded revenue by $5.2M, an operating margin of -6.8%. Operating expenses grew 8% against revenue growth of 16%. The fastest-growing cost line was Other operating costs (+11%). The quarter ended with a net loss of $5.2M, narrower than the previous quarter's $5.2M loss.
Operating cash flow was $344K. Non-cash charges added back $3.2M of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items used $2.1M. Capital expenditures of $3.3M exceeded it, leaving free cash flow of −$2.9M.
Questions
What was ThredUp's revenue in the second quarter 2025?
ThredUp (TDUP) reported revenue of $77.7M for the second quarter 2025 (Q2 2025), +16% from a year earlier and +9% from the quarter before.
Was ThredUp profitable in the second quarter 2025?
Operating loss was $5.2M (-6.8% of revenue) and net loss $5.2M.
Source: ThredUp 10-Q on SEC EDGAR.