Filing Flows › ThredUp (TDUP) › Q4 2025
ThredUp (TDUP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
ThredUp (TDUP) reported revenue of $79.7M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and -3% from the quarter before. Operating margin was -8.4%, net loss $5.6M (7.0% of revenue).
ThredUp, Q4 2025: revenue $79.7M (+18% year over year), operating margin -8.4%, net loss $5.6M, operating cash flow −$1.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $79.7M | -3% | +18% |
| Operating profit | −$6.7M | — | — |
| Net earnings | −$5.6M | — | — |
| Operating cash flow | −$1.5M | -124% | — |
What changed
Revenue was $79.7M in Q4 2025, up 18% year over year and down 3% from the previous quarter.
Gross margin was 79.6%, down 0.8 points from a year earlier. Operating costs exceeded revenue by $6.7M, an operating margin of -8.4%. Operating expenses grew 13% against revenue growth of 18%. The fastest-growing cost line was Other operating costs (+14%). The quarter ended with a net loss of $5.6M, wider than the previous quarter's $4.2M loss.
Operating cash flow was −$1.5M. Non-cash charges added back $3.5M of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items used $3.9M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$3.2M.
Questions
What was ThredUp's revenue in the fourth quarter 2025?
ThredUp (TDUP) reported revenue of $79.7M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and -3% from the quarter before.
Was ThredUp profitable in the fourth quarter 2025?
Operating loss was $6.7M (-8.4% of revenue) and net loss $5.6M.
Source: ThredUp 10-K on SEC EDGAR.