Filing Flows › ThredUp (TDUP) › Q3 2025
ThredUp (TDUP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
ThredUp (TDUP) reported revenue of $82.2M for the third quarter 2025 (Q3 2025), +34% from a year earlier and +6% from the quarter before. Operating margin was -5.3%, net loss $4.2M (5.2% of revenue).
ThredUp, Q3 2025: revenue $82.2M (+34% year over year), operating margin -5.3%, net loss $4.2M, operating cash flow $6.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $82.2M | +6% | +34% |
| Operating profit | −$4.4M | — | — |
| Net earnings | −$4.2M | — | — |
| Operating cash flow | $6.0M | 18× | +80% |
| Free cash flow | $2.4M | — | +98% |
What changed
Revenue was $82.2M in Q3 2025, up 34% year over year and up 6% from the previous quarter.
Gross margin was 79.4%, up 0.1 points from a year earlier. Operating costs exceeded revenue by $4.4M, an operating margin of -5.3%. Operating expenses grew 18% against revenue growth of 34%. The fastest-growing cost line was Other operating costs (+18%). The quarter ended with a net loss of $4.2M, narrower than the previous quarter's $5.2M loss.
Operating cash flow was $6.0M (up 80% year over year). Non-cash charges added back $3.1M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items added $2.7M. Capital expenditures of $3.7M left free cash flow of $2.4M.
Questions
What was ThredUp's revenue in the third quarter 2025?
ThredUp (TDUP) reported revenue of $82.2M for the third quarter 2025 (Q3 2025), +34% from a year earlier and +6% from the quarter before.
Was ThredUp profitable in the third quarter 2025?
Operating loss was $4.4M (-5.3% of revenue) and net loss $4.2M.
Source: ThredUp 10-Q on SEC EDGAR.