ThredUp Inc. (TDUP) Form 10-Q — Nov 4, 2026
ThredUp reported Q3 2026 revenue of $88.2 million, up 7.4% year over year, driven by a 17.4% increase in orders to 1.9 million and 16.1% growth in Active Buyers to 1.8 million. However, profitability moved the wrong way: net loss widened 28.8% to $5.5 million, gross margin fell 120 basis points to 78.2% on higher labor and packaging costs, and Adjusted EBITDA declined 6.6% to $3.5 million (4.0% margin).
Key figures
- Revenue
- 88230000
- Total Debt
- $18.0M principal outstanding under Term Loan
- Revenue Yoy
- 7.4% (Q3); 12.8% nine months
- Total Assets
- 169536000
- Cash Position
- $42.7M cash and equivalents plus $12.2M marketable securities ($57.6M total incl. restricted cash)
- Shares Outstanding
- 132,849,000 (Class A and B combined as of Oct 28, 2026)
- Orders yoy
- 17.4%
- Net loss yoy
- 28.8%
- Active buyers
- 1821000
- Orders q3 2026
- 1888000
- Active buyers yoy
- 16.1%
- Term loan maturity
- July 10, 2030
- Adjusted ebitda yoy
- -6.6%
- Gross margin q3 2026
- 78.2%
- Adjusted ebitda q3 2026
- 3524000
- Effective interest rate
- 7.60%
- Gross margin change yoy
- -120 bps
- Adjusted ebitda margin q3 2026
- 4.0%
- Operating cash flow nine months
- 11187000
AI analysis
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