ThredUp (TDUP) Financials

$7.38 -0.12 (-1.60%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$7.35 -0.03 (-0.41%)

As of 05/23/2025 07:46 PM Eastern

Annual Income Statements for ThredUp

This table shows ThredUp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-77	-71	-92
Consolidated Net Income / (Loss)	-77	-71	-92
Net Income / (Loss) Continuing Operations	-40	-52	-92
Total Pre-Tax Income	-40	-52	-92
Total Operating Income	-41	-53	-89
Total Gross Profit	207	198	192
Total Revenue	260	259	288
Operating Revenue	260	259	288
Total Cost of Revenue	53	60	96
Operating Cost of Revenue	53	60	96
Total Operating Expenses	248	251	282
Selling, General & Admin Expense	57	57	62
Marketing Expense	49	51	64
Other Operating Expenses / (Income)	142	143	156
Total Other Income / (Expense), net	0.65	0.66	-2.76
Interest Expense	2.53	2.24	0.81
Other Income / (Expense), net	3.17	2.90	-1.96
Income Tax Expense	0.03	0.02	0.04
Net Income / (Loss) Discontinued Operations	-37	-19	-
Basic Earnings per Share	($0.69)	($0.68)	($0.92)
Weighted Average Basic Shares Outstanding	111.96M	104.88M	99.82M
Diluted Earnings per Share	($0.69)	($0.68)	($0.92)
Weighted Average Diluted Shares Outstanding	111.96M	104.88M	99.82M
Weighted Average Basic & Diluted Shares Outstanding	116.19M	108.83M	101.61M

This table shows ThredUp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-5.22	-22	-25	-14	-17	-15	-18	-19	-20	-19	-24
Consolidated Net Income / (Loss)	-5.22	-22	-25	-14	-17	-15	-18	-19	-20	-19	-24
Net Income / (Loss) Continuing Operations	-5.22	15	-25	-14	-17	4.28	-18	-19	-20	-19	-24
Total Pre-Tax Income	-5.16	15	-25	-14	-17	4.27	-18	-19	-20	-19	-24
Total Operating Income	-5.43	15	-25	-14	-17	4.09	-18	-19	-20	-16	-24
Total Gross Profit	56	44	52	56	55	35	57	56	51	45	44
Total Revenue	71	28	73	80	80	18	82	83	76	71	68
Operating Revenue	71	28	73	80	80	18	82	83	76	71	68
Total Cost of Revenue	15	-16	21	24	24	-17	25	27	25	26	23
Operating Cost of Revenue	15	-16	21	24	24	-17	25	27	25	26	23
Total Operating Expenses	62	28	77	70	72	31	75	74	71	61	69
Selling, General & Admin Expense	14	9.34	15	15	18	9.59	15	16	16	15	15
Marketing Expense	13	3.87	15	16	13	-3.53	19	19	17	13	15
Other Operating Expenses / (Income)	35	25	37	39	41	25	40	40	38	34	39
Total Other Income / (Expense), net	0.28	0.03	0.10	0.35	0.17	0.19	0.11	-0.04	0.40	-3.11	0.52
Interest Expense	0.51	0.57	0.63	0.65	0.68	0.71	0.73	0.72	0.08	0.04	0.10
Other Income / (Expense), net	0.79	0.60	0.73	1.00	0.85	0.89	0.85	0.69	0.48	-3.07	0.62
Income Tax Expense	0.06	0.01	0.00	0.01	0.01	-0.01	0.00	0.01	0.01	0.00	0.01
Net Income / (Loss) Discontinued Operations	0.00	-	-	-	-	-	-	-	-	-	-
Basic Earnings per Share	($0.04)	($0.19)	($0.22)	($0.13)	($0.15)	($0.14)	($0.17)	($0.18)	($0.19)	($0.18)	($0.24)
Weighted Average Basic Shares Outstanding	116.70M	111.96M	112.85M	111.00M	109.29M	104.88M	105.90M	103.91M	101.98M	99.82M	100.25M
Diluted Earnings per Share	($0.04)	($0.19)	($0.22)	($0.13)	($0.15)	($0.14)	($0.17)	($0.18)	($0.19)	($0.18)	($0.24)
Weighted Average Diluted Shares Outstanding	116.70M	111.96M	112.85M	111.00M	109.29M	104.88M	105.90M	103.91M	101.98M	99.82M	100.25M
Weighted Average Basic & Diluted Shares Outstanding	118.25M	116.19M	113.76M	112.43M	110.26M	108.83M	107.25M	105.47M	103.09M	101.61M	100.81M

This table details how cash moves in and out of ThredUp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-21	17	-48
Net Cash From Operating Activities	0.90	-23	-52
Net Cash From Continuing Operating Activities	4.90	-9.82	-52
Net Income / (Loss) Continuing Operations	-40	-52	-92
Depreciation Expense	17	14	14
Non-Cash Adjustments To Reconcile Net Income	25	41	36
Changes in Operating Assets and Liabilities, net	2.90	-12	-9.79
Net Cash From Discontinued Operating Activities	-4.01	-13	-
Net Cash From Investing Activities	-17	44	8.92
Net Cash From Continuing Investing Activities	-10	47	8.92
Purchase of Property, Plant & Equipment	-6.58	-13	-43
Purchase of Investments	-32	-18	-3.48
Sale and/or Maturity of Investments	28	78	56
Net Cash From Discontinued Investing Activities	-6.64	-2.88	-
Net Cash From Financing Activities	-4.39	-3.60	-3.94
Net Cash From Continuing Financing Activities	-4.39	-3.60	-3.94
Repayment of Debt	-4.00	-4.00	-6.33
Issuance of Common Equity	3.67	5.16	4.20
Other Financing Activities, net	-4.06	-4.77	-2.20
Effect of Exchange Rate Changes	-0.59	-0.07	-0.67
Cash Interest Paid	2.40	2.71	2.06

This table details how cash moves in and out of ThredUp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	9.23	-8.51	-1.13	-5.36	-5.99	-13	17	0.34	13	-0.05	-15
Net Cash From Operating Activities	5.74	1.13	3.35	-4.97	1.39	-7.98	0.22	-10	-4.46	-15	-12
Net Cash From Continuing Operating Activities	5.74	5.14	3.35	-4.97	1.39	4.80	0.22	-10	-4.46	-15	-12
Net Income / (Loss) Continuing Operations	-5.22	15	-25	-14	-17	4.28	-18	-19	-20	-19	-24
Depreciation Expense	3.17	2.83	4.70	4.87	4.93	0.35	5.36	4.84	3.68	3.82	3.54
Non-Cash Adjustments To Reconcile Net Income	7.03	-8.07	18	5.87	8.46	5.58	11	11	12	9.33	5.52
Changes in Operating Assets and Liabilities, net	0.76	-4.91	5.00	-1.75	4.55	-5.40	1.62	-7.91	-0.68	-8.81	2.52
Net Cash From Discontinued Operating Activities	0.00	-	-	-	-	-	-	-	-	-	-
Net Cash From Investing Activities	5.08	-8.47	-3.49	0.84	-5.79	-4.67	19	10	19	16	-2.20
Net Cash From Continuing Investing Activities	5.08	-1.82	-3.49	0.84	-5.79	-1.80	19	10	19	16	-2.20
Purchase of Property, Plant & Equipment	-1.82	-1.22	-2.57	-1.17	-1.62	0.67	-1.48	-6.61	-5.68	-3.94	-12
Purchase of Investments	-3.21	-7.10	-9.52	-6.49	-8.67	-8.06	-1.97	-7.88	0.00	-	-
Sale and/or Maturity of Investments	10	6.50	8.60	8.50	4.50	5.60	23	25	25	20	9.54
Net Cash From Discontinued Investing Activities	0.00	-	-	-	-	-	-	-	-	-	-
Net Cash From Financing Activities	-1.59	-0.47	-1.26	-1.18	-1.48	-0.62	-1.23	-0.56	-1.19	-1.01	-0.59
Net Cash From Continuing Financing Activities	-1.59	-0.47	-1.26	-1.18	-1.48	-0.62	-1.23	-0.56	-1.19	-1.01	-0.59
Repayment of Debt	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.33
Issuance of Common Equity	1.15	1.60	0.28	1.06	0.73	1.40	1.63	1.69	0.45	0.32	0.73
Other Financing Activities, net	-1.74	-1.06	-0.55	-1.24	-1.21	-1.02	-1.86	-1.25	-0.64	-0.24	-0.48
Effect of Exchange Rate Changes	0.00	-0.71	0.28	-0.05	-0.12	0.16	-0.55	0.86	-0.54	0.25	-0.40
Other Net Changes in Cash	0.00	-	-	-	-	-	-	-	-	-	-

This table presents ThredUp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	171	250	302
Total Current Assets	57	94	134
Cash & Equivalents	32	54	38
Short-Term Investments	12	8.10	67
Accounts Receivable	3.57	5.00	4.67
Inventories, net	0.69	2.82	18
Other Current Assets	8.49	6.00	7.08
Other Current Nonoperating Assets	0.00	18	-
Plant, Property, & Equipment, net	68	78	92
Total Noncurrent Assets	46	78	75
Goodwill	11	11	12
Other Noncurrent Operating Assets	35	34	53
Other Noncurrent Nonoperating Assets	0.00	34	-
Total Liabilities & Shareholders' Equity	171	250	302
Total Liabilities	115	146	162
Total Current Liabilities	62	77	84
Short-Term Debt	3.86	3.84	3.88
Accounts Payable	8.33	3.83	7.80
Accrued Expenses	30	29	50
Other Current Liabilities	19	25	23
Other Current Nonoperating Liabilities	0.00	14	-
Total Noncurrent Liabilities	53	69	78
Long-Term Debt	18	22	26
Capital Lease Obligations	32	32	49
Other Noncurrent Operating Liabilities	2.76	2.12	3.02
Other Noncurrent Nonoperating Liabilities	0.00	13	-
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	56	104	140
Total Preferred & Common Equity	56	104	140
Total Common Equity	56	104	140
Common Stock	612	585	552
Retained Earnings	-556	-479	-408
Accumulated Other Comprehensive Income / (Loss)	0.00	-2.38	-4.23

This table presents ThredUp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	173	215	231	244	265	276	295	320
Total Current Assets	60	73	78	87	105	109	125	152
Cash & Equivalents	41	44	45	50	69	51	51	37
Short-Term Investments	5.72	12	11	12	5.58	26	43	87
Accounts Receivable	4.23	5.72	5.89	6.93	5.99	3.78	4.23	3.18
Other Current Assets	9.45	4.98	6.70	5.83	7.20	8.24	6.34	10
Plant, Property, & Equipment, net	68	76	83	85	90	94	96	90
Total Noncurrent Assets	45	65	70	72	70	73	74	79
Goodwill	11	12	12	12	11	12	12	11
Other Noncurrent Operating Assets	34	51	52	53	6.62	6.87	6.96	58
Total Liabilities & Shareholders' Equity	173	215	231	244	265	276	295	320
Total Liabilities	116	146	145	151	156	156	164	170
Total Current Liabilities	66	76	74	77	84	81	88	90
Short-Term Debt	3.86	3.85	3.85	3.84	3.83	3.83	3.88	3.88
Accounts Payable	13	13	11	9.13	12	8.78	13	8.64
Accrued Expenses	28	34	34	38	40	43	48	53
Other Current Liabilities	20	25	25	27	28	25	24	24
Total Noncurrent Liabilities	51	69	71	74	71	74	75	80
Long-Term Debt	17	19	20	21	23	24	25	27
Capital Lease Obligations	31	47	48	50	45	47	48	-
Other Noncurrent Operating Liabilities	2.49	3.01	2.93	2.88	3.23	3.20	3.07	54
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Total Equity & Noncontrolling Interests	56	69	86	94	110	121	131	150
Total Preferred & Common Equity	56	69	86	94	110	121	131	150
Total Common Equity	56	69	86	94	110	121	131	150
Common Stock	617	606	599	592	578	570	562	545
Retained Earnings	-561	-534	-509	-495	-464	-446	-427	-388
Accumulated Other Comprehensive Income / (Loss)	-0.00	-2.27	-3.47	-3.25	-3.94	-3.01	-3.08	-7.64

This table displays calculated financial ratios and metrics derived from ThredUp's official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	0.59%	-10.36%	14.53%
EBITDA Growth	43.92%	53.66%	-49.83%
EBIT Growth	25.26%	45.21%	-50.35%
NOPAT Growth	23.36%	40.78%	-43.44%
Net Income Growth	-8.05%	22.79%	-46.07%
EPS Growth	-1.47%	26.09%	-12.20%
Operating Cash Flow Growth	103.98%	56.64%	-48.79%
Free Cash Flow Firm Growth	-2,540.67%	100.77%	14.20%
Invested Capital Growth	-11.84%	-33.40%	57.08%
Revenue Q/Q Growth	-17.12%	-17.13%	-0.54%
EBITDA Q/Q Growth	57.97%	36.89%	-1.68%
EBIT Q/Q Growth	44.29%	32.79%	-2.34%
NOPAT Q/Q Growth	42.48%	27.87%	2.12%
Net Income Q/Q Growth	-10.15%	6.42%	-1.75%
EPS Q/Q Growth	-7.81%	5.56%	-130.00%
Operating Cash Flow Q/Q Growth	110.94%	24.15%	9.89%
Free Cash Flow Firm Q/Q Growth	25.19%	100.79%	20.09%
Invested Capital Q/Q Growth	-20.78%	-29.69%	98.29%
Profitability Metrics	-	-	-
Gross Margin	79.65%	76.78%	66.70%
EBITDA Margin	-7.74%	-13.88%	-26.84%
Operating Margin	-15.62%	-20.50%	-31.03%
EBIT Margin	-14.40%	-19.38%	-31.71%
Profit (Net Income) Margin	-29.61%	-27.56%	-32.00%
Tax Burden Percent	192.61%	136.13%	100.04%
Interest Burden Percent	106.74%	104.47%	100.88%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-39.99%	-39.25%	-67.47%
ROIC Less NNEP Spread (ROIC-NNEP)	498.55%	85.18%	-30.42%
Return on Net Nonoperating Assets (RNNOA)	-56.11%	-19.17%	14.08%
Return on Equity (ROE)	-96.10%	-58.42%	-53.38%
Cash Return on Invested Capital (CROIC)	-27.41%	0.84%	-111.88%
Operating Return on Assets (OROA)	-17.78%	-18.15%	-27.59%
Return on Assets (ROA)	-36.56%	-25.82%	-27.85%
Return on Common Equity (ROCE)	-96.10%	-58.42%	-53.38%
Return on Equity Simple (ROE_SIMPLE)	-136.74%	-68.56%	-65.92%
Net Operating Profit after Tax (NOPAT)	-28	-37	-63
NOPAT Margin	-10.93%	-14.35%	-21.72%
Net Nonoperating Expense Percent (NNEP)	-538.55%	-124.44%	-37.04%
Return On Investment Capital (ROIC_SIMPLE)	-25.66%	-22.96%	-
Cost of Revenue to Revenue	20.35%	23.22%	33.30%
SG&A Expenses to Revenue	21.88%	21.95%	21.44%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	95.27%	97.28%	97.73%
Earnings before Interest and Taxes (EBIT)	-37	-50	-91
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-36	-77
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.81	2.32	0.94
Price to Tangible Book Value (P/TBV)	3.47	2.60	1.12
Price to Revenue (P/Rev)	0.61	0.93	0.46
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.53	3.13	0.93
Enterprise Value to Revenue (EV/Rev)	0.65	0.92	0.37
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	187.57	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	296.27	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.97	0.55	0.56
Long-Term Debt to Equity	0.90	0.52	0.53
Financial Leverage	-0.11	-0.23	-0.46
Leverage Ratio	2.63	2.26	1.92
Compound Leverage Factor	2.81	2.36	1.93
Debt to Total Capital	49.19%	35.69%	35.90%
Short-Term Debt to Total Capital	3.48%	2.38%	1.78%
Long-Term Debt to Total Capital	45.71%	33.31%	34.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	50.82%	64.31%	64.10%
Debt to EBITDA	-2.71	-1.61	-1.01
Net Debt to EBITDA	-0.51	0.13	0.34
Long-Term Debt to EBITDA	-2.52	-1.50	-0.96
Debt to NOPAT	-1.92	-1.55	-1.25
Net Debt to NOPAT	-0.36	0.13	0.42
Long-Term Debt to NOPAT	-1.78	-1.45	-1.19
Altman Z-Score	-2.95	-1.24	-1.25
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	0.93	1.22	1.59
Quick Ratio	0.78	0.88	1.30
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-19	0.80	-104
Operating Cash Flow to CapEx	13.64%	-172.35%	-120.47%
Free Cash Flow to Firm to Interest Expense	-7.72	0.36	-129.04
Operating Cash Flow to Interest Expense	0.36	-10.09	-64.73
Operating Cash Flow Less CapEx to Interest Expense	-2.25	-15.94	-118.45
Efficiency Ratios	-	-	-
Asset Turnover	1.23	0.94	0.87
Accounts Receivable Turnover	60.73	53.49	65.50
Inventory Turnover	30.11	5.90	7.02
Fixed Asset Turnover	3.55	3.04	3.90
Accounts Payable Turnover	8.70	10.32	9.09
Days Sales Outstanding (DSO)	6.01	6.82	5.57
Days Inventory Outstanding (DIO)	12.12	61.84	51.96
Days Payable Outstanding (DPO)	41.94	35.36	40.16
Cash Conversion Cycle (CCC)	-23.80	33.31	17.37
Capital & Investment Metrics	-	-	-
Invested Capital	67	76	113
Invested Capital Turnover	3.66	2.74	3.11
Increase / (Decrease) in Invested Capital	-8.95	-38	41
Enterprise Value (EV)	168	237	106
Market Capitalization	158	241	132
Book Value per Share	$0.49	$0.97	$1.39
Tangible Book Value per Share	$0.40	$0.86	$1.17
Total Capital	111	162	218
Total Debt	54	58	78
Total Long-Term Debt	51	54	75
Net Debt	10	-4.77	-27
Capital Expenditures (CapEx)	6.58	13	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-45	-41	-51
Debt-free Net Working Capital (DFNWC)	-0.75	21	54
Net Working Capital (NWC)	-4.60	17	50
Net Nonoperating Expense (NNE)	49	34	30
Net Nonoperating Obligations (NNO)	10	-28	-27
Total Depreciation and Amortization (D&A)	17	14	14
Debt-free, Cash-free Net Working Capital to Revenue	-17.28%	-16.01%	-17.78%
Debt-free Net Working Capital to Revenue	-0.29%	8.14%	18.61%
Net Working Capital to Revenue	-1.77%	6.66%	17.26%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.69)	($0.68)	($0.92)
Adjusted Weighted Average Basic Shares Outstanding	111.96M	104.88M	99.82M
Adjusted Diluted Earnings per Share	($0.69)	($0.68)	($0.92)
Adjusted Weighted Average Diluted Shares Outstanding	111.96M	104.88M	99.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	116.19M	108.83M	101.61M
Normalized Net Operating Profit after Tax (NOPAT)	-28	-37	-63
Normalized NOPAT Margin	-10.93%	-14.35%	-21.72%
Pre Tax Income Margin	-15.37%	-20.25%	-31.99%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-14.83	-22.38	-113.60
NOPAT to Interest Expense	-11.26	-16.57	-77.81
EBIT Less CapEx to Interest Expense	-17.44	-28.23	-167.32
NOPAT Less CapEx to Interest Expense	-13.87	-22.42	-131.54
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from ThredUp's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.47%	54.78%	-11.00%	-3.51%	4.83%	-74.94%	20.76%	8.16%	4.44%	-2.14%	7.38%
EBITDA Growth	80.98%	250.65%	-62.22%	36.09%	31.78%	134.08%	40.17%	46.69%	5.74%	-8.93%	-69.28%
EBIT Growth	59.62%	218.18%	-39.15%	26.24%	19.49%	125.61%	26.39%	35.97%	2.79%	-12.04%	-67.38%
NOPAT Growth	56.16%	272.42%	-36.70%	23.61%	17.20%	135.68%	24.80%	33.96%	1.91%	10.56%	-56.09%
Net Income Growth	68.50%	-48.55%	-36.99%	25.62%	16.36%	25.06%	23.63%	33.94%	4.42%	-8.87%	-60.91%
EPS Growth	73.33%	-35.71%	-29.41%	27.78%	21.05%	22.22%	29.17%	37.93%	9.52%	-152.94%	-60.00%
Operating Cash Flow Growth	312.28%	114.17%	1,400.90%	52.10%	131.25%	47.42%	101.84%	42.82%	33.25%	27.39%	-140.06%
Free Cash Flow Firm Growth	8,447.71%	-42.38%	109.50%	106.88%	96.13%	179.67%	24.03%	0.27%	-33.82%	41.58%	-3,880.94%
Invested Capital Growth	-41.80%	-11.84%	-21.76%	-13.12%	-7.20%	-33.40%	87.83%	133.36%	205.09%	57.08%	752.84%
Revenue Q/Q Growth	157.68%	-62.11%	-8.44%	0.21%	-2.22%	-78.21%	-0.74%	8.87%	6.46%	4.96%	-11.09%
EBITDA Q/Q Growth	-107.89%	196.13%	-130.57%	22.88%	-20.70%	144.47%	9.16%	17.69%	-2.48%	21.92%	19.07%
EBIT Q/Q Growth	-129.29%	165.68%	-81.54%	16.20%	-14.07%	128.73%	3.77%	8.52%	-1.30%	17.45%	16.29%
NOPAT Q/Q Growth	-124.95%	187.58%	-73.98%	14.46%	-13.29%	132.15%	2.78%	7.29%	-23.15%	32.25%	14.62%
Net Income Q/Q Growth	75.98%	12.37%	-77.52%	15.71%	-13.28%	19.18%	3.61%	5.22%	-1.51%	17.65%	16.62%
EPS Q/Q Growth	78.95%	13.64%	-69.23%	13.33%	-7.14%	17.65%	5.56%	5.26%	-5.56%	25.00%	17.24%
Operating Cash Flow Q/Q Growth	408.23%	-66.24%	167.32%	-456.93%	117.47%	-3,676.23%	102.15%	-132.86%	70.61%	-25.30%	33.33%
Free Cash Flow Firm Q/Q Growth	66.83%	304.40%	7.34%	259.02%	50.35%	166.66%	22.21%	10.68%	-72.02%	36.44%	-2.12%
Invested Capital Q/Q Growth	-7.70%	-20.78%	-18.52%	-2.32%	-4.12%	-29.69%	-9.52%	4.33%	0.34%	98.29%	12.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	79.07%	157.95%	71.19%	70.37%	69.52%	195.89%	69.02%	67.42%	67.30%	63.05%	65.49%
EBITDA Margin	-2.07%	67.54%	-26.62%	-10.57%	-13.74%	29.81%	-14.60%	-15.96%	-21.11%	-21.93%	-29.48%
Operating Margin	-7.62%	55.13%	-34.06%	-17.92%	-21.00%	22.88%	-22.17%	-22.64%	-26.58%	-22.98%	-35.60%
EBIT Margin	-6.51%	57.31%	-33.06%	-16.67%	-19.94%	27.88%	-21.14%	-21.81%	-25.96%	-27.28%	-34.68%
Profit (Net Income) Margin	-7.32%	-78.46%	-33.92%	-17.50%	-20.80%	-81.75%	-22.04%	-22.70%	-26.07%	-27.34%	-34.85%
Tax Burden Percent	101.11%	-141.99%	100.02%	100.04%	100.07%	-341.90%	100.02%	100.06%	100.05%	100.02%	100.04%
Interest Burden Percent	111.07%	96.42%	102.61%	104.90%	104.27%	85.77%	104.22%	104.00%	100.39%	100.21%	100.44%
Effective Tax Rate	0.00%	0.05%	0.00%	0.00%	0.00%	-0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-17.03%	201.55%	-78.09%	-36.48%	-43.62%	62.64%	-58.79%	-55.63%	-71.79%	-49.96%	-298.24%
ROIC Less NNEP Spread (ROIC-NNEP)	-33.13%	611.44%	-193.59%	-89.48%	146.38%	130.80%	-47.48%	-46.10%	-65.03%	-39.93%	-293.98%
Return on Net Nonoperating Assets (RNNOA)	-3.88%	-68.81%	-13.80%	-6.44%	-3.33%	-29.43%	17.32%	18.99%	34.20%	18.48%	255.00%
Return on Equity (ROE)	-20.92%	132.74%	-91.89%	-42.92%	-46.95%	33.21%	-41.48%	-36.64%	-37.60%	-31.48%	-43.25%
Cash Return on Invested Capital (CROIC)	24.65%	-27.41%	-27.19%	-26.29%	-36.14%	0.84%	-123.49%	-145.58%	-183.77%	-111.88%	-227.16%
Operating Return on Assets (OROA)	-8.34%	70.76%	-43.19%	-21.20%	-24.09%	26.11%	-22.55%	-20.88%	-23.08%	-23.74%	-30.03%
Return on Assets (ROA)	-9.37%	-96.88%	-44.32%	-22.25%	-25.13%	-76.58%	-23.50%	-21.73%	-23.18%	-23.79%	-30.17%
Return on Common Equity (ROCE)	-20.92%	132.74%	-91.89%	-42.92%	-46.95%	33.21%	-41.48%	-36.64%	-37.60%	-31.48%	-43.25%
Return on Equity Simple (ROE_SIMPLE)	-117.05%	0.00%	-100.90%	-73.08%	-72.71%	0.00%	-69.50%	-67.77%	-69.70%	0.00%	-60.59%
Net Operating Profit after Tax (NOPAT)	-3.80	15	-17	-10	-12	4.09	-13	-13	-14	-11	-17
NOPAT Margin	-5.34%	55.11%	-23.84%	-12.55%	-14.70%	22.90%	-15.52%	-15.85%	-18.61%	-16.09%	-24.92%
Net Nonoperating Expense Percent (NNEP)	16.10%	-409.88%	115.50%	53.00%	-190.00%	-68.16%	-11.31%	-9.53%	-6.76%	-10.03%	-4.26%
Return On Investment Capital (ROIC_SIMPLE)	-3.51%	13.76%	-	-	-	2.53%	-	-	-	-	-
Cost of Revenue to Revenue	20.93%	-57.95%	28.82%	29.63%	30.48%	-95.89%	30.98%	32.58%	32.70%	36.95%	34.51%
SG&A Expenses to Revenue	18.99%	33.75%	19.92%	19.36%	22.08%	53.66%	18.35%	19.39%	21.15%	20.38%	22.42%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	86.69%	102.81%	105.24%	88.29%	90.51%	173.02%	91.19%	90.06%	93.88%	86.03%	101.09%
Earnings before Interest and Taxes (EBIT)	-4.64	16	-24	-13	-16	4.98	-17	-18	-20	-19	-24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.48	19	-19	-8.43	-11	5.33	-12	-13	-16	-16	-20
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.99	2.81	1.37	2.17	2.33	2.32	3.86	2.09	1.96	0.94	1.23
Price to Tangible Book Value (P/TBV)	6.18	3.47	1.72	2.75	2.92	2.60	4.72	2.53	2.35	1.12	1.43
Price to Revenue (P/Rev)	1.05	0.61	0.30	0.58	0.67	0.93	1.36	0.84	0.88	0.46	0.64
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	4.64	2.53	1.30	1.98	2.17	3.13	3.92	2.10	2.11	0.93	1.60
Enterprise Value to Revenue (EV/Rev)	1.07	0.65	0.35	0.63	0.71	0.92	1.35	0.84	0.82	0.37	0.32
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	54.39	187.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	13.85	0.00	0.00	0.00	0.00	296.27	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.93	0.97	1.01	0.83	0.80	0.55	0.66	0.62	0.58	0.56	0.21
Long-Term Debt to Equity	0.86	0.90	0.96	0.79	0.76	0.52	0.62	0.59	0.55	0.53	0.18
Financial Leverage	0.12	-0.11	0.07	0.07	-0.02	-0.23	-0.36	-0.41	-0.53	-0.46	-0.87
Leverage Ratio	2.79	2.63	2.69	2.45	2.40	2.26	2.26	2.16	2.06	1.92	1.83
Compound Leverage Factor	3.09	2.53	2.76	2.57	2.50	1.94	2.35	2.24	2.07	1.92	1.84
Debt to Total Capital	48.20%	49.19%	50.30%	45.43%	44.38%	35.69%	39.68%	38.38%	36.77%	35.90%	17.04%
Short-Term Debt to Total Capital	3.57%	3.48%	2.76%	2.43%	2.29%	2.38%	2.11%	1.96%	1.87%	1.78%	2.15%
Long-Term Debt to Total Capital	44.63%	45.71%	47.54%	43.00%	42.10%	33.31%	37.57%	36.42%	34.90%	34.12%	14.89%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	51.80%	50.82%	49.70%	54.57%	55.62%	64.31%	60.32%	61.62%	63.23%	64.10%	82.96%
Debt to EBITDA	-3.77	-2.71	-1.47	-1.78	-1.65	-1.61	-1.27	-1.16	-1.00	-1.01	-0.40
Net Debt to EBITDA	-0.39	-0.51	-0.31	-0.41	-0.27	0.13	0.04	0.03	0.23	0.34	1.21
Long-Term Debt to EBITDA	-3.49	-2.52	-1.38	-1.69	-1.57	-1.50	-1.20	-1.10	-0.95	-0.96	-0.35
Debt to NOPAT	-2.21	-1.92	-1.42	-1.61	-1.56	-1.55	-1.40	-1.35	-1.22	-1.25	-0.48
Net Debt to NOPAT	-0.23	-0.36	-0.30	-0.37	-0.25	0.13	0.04	0.03	0.28	0.42	1.45
Long-Term Debt to NOPAT	-2.05	-1.78	-1.34	-1.52	-1.48	-1.45	-1.33	-1.28	-1.16	-1.19	-0.42
Altman Z-Score	-1.69	-1.93	-2.02	-1.08	-0.81	-0.51	0.23	-0.31	-0.17	-0.46	-0.15
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.92	0.93	0.96	1.06	1.13	1.22	1.25	1.35	1.42	1.59	1.69
Quick Ratio	0.78	0.78	0.80	0.83	0.90	0.88	0.95	0.99	1.11	1.30	1.41
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	40	24	5.98	5.57	-3.50	42	-63	-81	-91	-53	-83
Operating Cash Flow to CapEx	316.42%	92.55%	130.08%	-424.96%	85.99%	0.00%	15.04%	-156.98%	-78.50%	-385.41%	-103.16%
Free Cash Flow to Firm to Interest Expense	78.52	42.67	9.51	8.55	-5.18	59.23	-86.06	-112.32	-1,177.42	-1,285.50	-805.04
Operating Cash Flow to Interest Expense	11.17	1.99	5.32	-7.63	2.06	-11.25	0.30	-14.40	-57.90	-369.90	-117.51
Operating Cash Flow Less CapEx to Interest Expense	7.64	-0.16	1.23	-9.42	-0.34	-10.31	-1.72	-23.57	-131.65	-465.88	-231.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.28	1.23	1.31	1.27	1.21	0.94	1.07	0.96	0.89	0.87	0.87
Accounts Receivable Turnover	47.80	60.73	53.59	66.76	58.36	53.49	68.05	83.31	80.97	65.50	114.37
Inventory Turnover	0.00	30.11	7.83	6.80	6.62	5.90	6.24	5.92	5.97	7.02	9.88
Fixed Asset Turnover	3.50	3.55	3.76	3.66	3.60	3.04	3.47	3.35	3.45	3.90	4.17
Accounts Payable Turnover	4.97	8.70	7.83	10.61	9.84	10.32	9.83	8.14	6.10	9.09	11.07
Days Sales Outstanding (DSO)	7.64	6.01	6.81	5.47	6.25	6.82	5.36	4.38	4.51	5.57	3.19
Days Inventory Outstanding (DIO)	0.00	12.12	46.64	53.64	55.12	61.84	58.48	61.64	61.12	51.96	36.95
Days Payable Outstanding (DPO)	73.43	41.94	46.64	34.41	37.09	35.36	37.14	44.86	59.86	40.16	32.97
Cash Conversion Cycle (CCC)	-65.80	-23.80	6.81	24.70	24.28	33.31	26.71	21.17	5.77	17.37	7.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	61	67	84	103	106	76	107	119	114	113	57
Invested Capital Turnover	3.19	3.66	3.28	2.91	2.97	2.74	3.79	3.51	3.86	3.11	11.97
Increase / (Decrease) in Invested Capital	-44	-8.95	-23	-16	-8.19	-38	50	68	77	41	66
Enterprise Value (EV)	285	168	109	204	230	237	421	250	240	106	92
Market Capitalization	280	158	95	187	218	241	423	252	257	132	184
Book Value per Share	$0.48	$0.49	$0.62	$0.78	$0.86	$0.97	$1.04	$1.17	$1.29	$1.39	$1.50
Tangible Book Value per Share	$0.39	$0.40	$0.49	$0.62	$0.68	$0.86	$0.85	$0.97	$1.08	$1.17	$1.29
Total Capital	108	111	139	158	168	162	182	196	207	218	180
Total Debt	52	54	70	72	75	58	72	75	76	78	31
Total Long-Term Debt	48	51	66	68	71	54	68	71	72	75	27
Net Debt	5.41	10	15	17	12	-4.77	-2.07	-1.82	-17	-27	-92
Capital Expenditures (CapEx)	1.82	1.22	2.57	1.17	1.62	-0.67	1.48	6.61	5.68	3.94	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-48	-45	-54	-47	-49	-41	-49	-45	-53	-51	-57
Debt-free Net Working Capital (DFNWC)	-1.29	-0.75	0.81	8.38	14	21	25	32	41	54	66
Net Working Capital (NWC)	-5.15	-4.60	-3.04	4.53	9.79	17	21	28	37	50	62
Net Nonoperating Expense (NNE)	1.41	37	7.36	3.95	4.86	19	5.35	5.66	5.66	8.03	6.75
Net Nonoperating Obligations (NNO)	5.41	10	15	17	12	-28	-2.07	-1.82	-17	-27	-92
Total Depreciation and Amortization (D&A)	3.17	2.83	4.70	4.87	4.93	0.35	5.36	4.84	3.68	3.82	3.54
Debt-free, Cash-free Net Working Capital to Revenue	-18.01%	-17.28%	-17.36%	-14.53%	-15.01%	-16.01%	-15.77%	-15.12%	-18.13%	-17.78%	-19.77%
Debt-free Net Working Capital to Revenue	-0.48%	-0.29%	0.26%	2.60%	4.18%	8.14%	8.00%	10.71%	13.92%	18.61%	22.73%
Net Working Capital to Revenue	-1.93%	-1.77%	-0.97%	1.40%	3.00%	6.66%	6.77%	9.42%	12.59%	17.26%	21.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.04)	($0.19)	($0.22)	($0.13)	($0.15)	($0.14)	($0.17)	($0.18)	($0.19)	($0.18)	($0.24)
Adjusted Weighted Average Basic Shares Outstanding	116.70M	111.96M	112.85M	111.00M	109.29M	104.88M	105.90M	103.91M	101.98M	99.82M	100.25M
Adjusted Diluted Earnings per Share	($0.04)	($0.19)	($0.22)	($0.13)	($0.15)	($0.14)	($0.17)	($0.18)	($0.19)	($0.18)	($0.24)
Adjusted Weighted Average Diluted Shares Outstanding	116.70M	111.96M	112.85M	111.00M	109.29M	104.88M	105.90M	103.91M	101.98M	99.82M	100.25M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	118.25M	116.19M	113.76M	112.43M	110.26M	108.83M	107.25M	105.47M	103.09M	101.61M	100.81M
Normalized Net Operating Profit after Tax (NOPAT)	-3.80	15	-11	-10	-12	2.86	-13	-13	-14	-11	-17
Normalized NOPAT Margin	-5.34%	55.11%	-14.43%	-12.55%	-14.70%	16.01%	-15.52%	-15.85%	-18.61%	-16.09%	-24.92%
Pre Tax Income Margin	-7.24%	55.26%	-33.92%	-17.49%	-20.79%	23.91%	-22.03%	-22.68%	-26.06%	-27.34%	-34.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-9.04	27.96	-38.38	-20.39	-23.44	7.03	-23.70	-25.00	-255.94	-474.49	-228.80
NOPAT to Interest Expense	-7.40	26.89	-27.68	-15.35	-17.28	5.77	-17.40	-18.17	-183.48	-279.81	-164.40
EBIT Less CapEx to Interest Expense	-12.57	25.81	-42.47	-22.19	-25.83	7.97	-25.72	-34.17	-329.69	-570.46	-342.71
NOPAT Less CapEx to Interest Expense	-10.93	24.74	-31.77	-17.14	-19.67	6.71	-19.42	-27.34	-257.24	-375.79	-278.31
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About ThredUp's Financials

When does ThredUp's financial year end?

According to the most recent income statement we have on file, ThredUp's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has ThredUp's net income changed over the last 2 years?

ThredUp's net income appears to be on a downward trend, with a most recent value of -$76.99 million in 2024, falling from -$92.28 million in 2022. The previous period was -$71.25 million in 2023. See where experts think ThredUp is headed by visiting ThredUp's forecast page.

What is ThredUp's operating income?

ThredUp's total operating income in 2024 was -$40.62 million, based on the following breakdown:

Total Gross Profit: $207.13 million
Total Operating Expenses: $247.74 million

How has ThredUp revenue changed over the last 2 years?

Over the last 2 years, ThredUp's total revenue changed from $288.38 million in 2022 to $260.03 million in 2024, a change of -9.8%.

How much debt does ThredUp have?

ThredUp's total liabilities were at $114.92 million at the end of 2024, a 21.3% decrease from 2023, and a 29.0% decrease since 2022.

How much cash does ThredUp have?

In the past 2 years, ThredUp's cash and equivalents has ranged from $31.85 million in 2024 to $54.34 million in 2023, and is currently $31.85 million as of their latest financial filing in 2024.

How has ThredUp's book value per share changed over the last 2 years?

Over the last 2 years, ThredUp's book value per share changed from 1.39 in 2022 to 0.49 in 2024, a change of -64.4%.

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This page (NASDAQ:TDUP) was last updated on 5/25/2025 by MarketBeat.com Staff

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ThredUp (TDUP) Financials

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