ThredUp (TDUP) Financials

$3.32 -0.10 (-2.78%)

As of 11:26 AM 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	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-92	-71	-77
Consolidated Net Income / (Loss)	-92	-71	-77
Net Income / (Loss) Continuing Operations	-92	-52	-40
Total Pre-Tax Income	-92	-52	-40
Total Operating Income	-89	-53	-41
Total Gross Profit	192	198	207
Total Revenue	288	259	260
Operating Revenue	288	259	260
Total Cost of Revenue	96	60	53
Operating Cost of Revenue	96	60	53
Total Operating Expenses	282	251	248
Selling, General & Admin Expense	62	57	57
Marketing Expense	64	51	49
Other Operating Expenses / (Income)	156	143	142
Total Other Income / (Expense), net	-2.76	0.66	0.65
Interest Expense	0.81	2.24	2.53
Other Income / (Expense), net	-1.96	2.90	3.17
Income Tax Expense	0.04	0.02	0.03
Net Income / (Loss) Discontinued Operations	-	-19	-37
Basic Earnings per Share	($0.92)	($0.68)	($0.69)
Weighted Average Basic Shares Outstanding	99.82M	104.88M	111.96M
Diluted Earnings per Share	($0.92)	($0.68)	($0.69)
Weighted Average Diluted Shares Outstanding	99.82M	104.88M	111.96M
Weighted Average Basic & Diluted Shares Outstanding	101.61M	108.83M	116.19M

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

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

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

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

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

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	320	295	276	265	244	231	215
Total Current Assets	152	125	109	105	87	78	73
Cash & Equivalents	37	51	51	69	50	45	44
Short-Term Investments	87	43	26	5.58	12	11	12
Accounts Receivable	3.18	4.23	3.78	5.99	6.93	5.89	5.72
Inventories, net	15	21	20	18	12	10	7.38
Other Current Assets	10	6.34	8.24	7.20	5.83	6.70	4.98
Plant, Property, & Equipment, net	90	96	94	90	85	83	76
Total Noncurrent Assets	79	74	73	70	72	70	65
Goodwill	11	12	12	11	12	12	12
Intangible Assets	10	10	9.35	8.46	7.33	6.63	2.00
Other Noncurrent Operating Assets	58	6.96	6.87	6.62	53	52	51
Total Liabilities & Shareholders' Equity	320	295	276	265	244	231	215
Total Liabilities	170	164	156	156	151	145	146
Total Current Liabilities	90	88	81	84	77	74	76
Short-Term Debt	3.88	3.88	3.83	3.83	3.84	3.85	3.85
Accounts Payable	8.64	13	8.78	12	9.13	11	13
Accrued Expenses	53	48	43	40	38	34	34
Other Current Liabilities	24	24	25	28	27	25	25
Total Noncurrent Liabilities	80	75	74	71	74	71	69
Long-Term Debt	27	25	24	23	21	20	19
Capital Lease Obligations	-	48	47	45	50	48	47
Other Noncurrent Operating Liabilities	54	3.07	3.20	3.23	2.88	2.93	3.01
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	150	131	121	110	94	86	69
Total Preferred & Common Equity	150	131	121	110	94	86	69
Total Common Equity	150	131	121	110	94	86	69
Common Stock	545	562	570	578	592	599	606
Retained Earnings	-388	-427	-446	-464	-495	-509	-534
Accumulated Other Comprehensive Income / (Loss)	-7.64	-3.08	-3.01	-3.94	-3.25	-3.47	-2.27

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

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	14.53%	-10.36%	0.59%
EBITDA Growth	-49.83%	53.66%	43.92%
EBIT Growth	-50.35%	45.21%	25.26%
NOPAT Growth	-43.44%	40.78%	23.36%
Net Income Growth	-46.07%	22.79%	-8.05%
EPS Growth	-12.20%	26.09%	-1.47%
Operating Cash Flow Growth	-48.79%	56.64%	103.98%
Free Cash Flow Firm Growth	14.20%	100.77%	-2,540.67%
Invested Capital Growth	57.08%	-33.40%	-11.84%
Revenue Q/Q Growth	-0.54%	-17.13%	-17.12%
EBITDA Q/Q Growth	-1.68%	36.89%	57.97%
EBIT Q/Q Growth	-2.34%	32.79%	44.29%
NOPAT Q/Q Growth	2.12%	27.87%	42.48%
Net Income Q/Q Growth	-1.75%	6.42%	-10.15%
EPS Q/Q Growth	-130.00%	5.56%	-7.81%
Operating Cash Flow Q/Q Growth	9.89%	24.15%	110.94%
Free Cash Flow Firm Q/Q Growth	20.09%	100.79%	25.19%
Invested Capital Q/Q Growth	98.29%	-29.69%	-20.78%
Profitability Metrics	-	-	-
Gross Margin	66.70%	76.78%	79.65%
EBITDA Margin	-26.84%	-13.88%	-7.74%
Operating Margin	-31.03%	-20.50%	-15.62%
EBIT Margin	-31.71%	-19.38%	-14.40%
Profit (Net Income) Margin	-32.00%	-27.56%	-29.61%
Tax Burden Percent	100.04%	136.13%	192.61%
Interest Burden Percent	100.88%	104.47%	106.74%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-67.47%	-39.25%	-39.99%
ROIC Less NNEP Spread (ROIC-NNEP)	-30.42%	85.18%	498.55%
Return on Net Nonoperating Assets (RNNOA)	14.08%	-19.17%	-56.11%
Return on Equity (ROE)	-53.38%	-58.42%	-96.10%
Cash Return on Invested Capital (CROIC)	-111.88%	0.84%	-27.41%
Operating Return on Assets (OROA)	-27.59%	-18.15%	-17.78%
Return on Assets (ROA)	-27.85%	-25.82%	-36.56%
Return on Common Equity (ROCE)	-53.38%	-58.42%	-96.10%
Return on Equity Simple (ROE_SIMPLE)	-65.92%	-68.56%	-136.74%
Net Operating Profit after Tax (NOPAT)	-63	-37	-28
NOPAT Margin	-21.72%	-14.35%	-10.93%
Net Nonoperating Expense Percent (NNEP)	-37.04%	-124.44%	-538.55%
Return On Investment Capital (ROIC_SIMPLE)	-	-22.96%	-25.66%
Cost of Revenue to Revenue	33.30%	23.22%	20.35%
SG&A Expenses to Revenue	21.44%	21.95%	21.88%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	97.73%	97.28%	95.27%
Earnings before Interest and Taxes (EBIT)	-91	-50	-37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-77	-36	-20
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.94	2.32	2.81
Price to Tangible Book Value (P/TBV)	1.12	2.60	3.47
Price to Revenue (P/Rev)	0.46	0.93	0.61
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)	0.93	3.13	2.53
Enterprise Value to Revenue (EV/Rev)	0.37	0.92	0.65
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)	0.00	0.00	187.57
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	296.27	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.56	0.55	0.97
Long-Term Debt to Equity	0.53	0.52	0.90
Financial Leverage	-0.46	-0.23	-0.11
Leverage Ratio	1.92	2.26	2.63
Compound Leverage Factor	1.93	2.36	2.81
Debt to Total Capital	35.90%	35.69%	49.19%
Short-Term Debt to Total Capital	1.78%	2.38%	3.48%
Long-Term Debt to Total Capital	34.12%	33.31%	45.71%
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	64.10%	64.31%	50.82%
Debt to EBITDA	-1.01	-1.61	-2.71
Net Debt to EBITDA	0.34	0.13	-0.51
Long-Term Debt to EBITDA	-0.96	-1.50	-2.52
Debt to NOPAT	-1.25	-1.55	-1.92
Net Debt to NOPAT	0.42	0.13	-0.36
Long-Term Debt to NOPAT	-1.19	-1.45	-1.78
Altman Z-Score	-1.25	-1.24	-2.95
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.59	1.22	0.93
Quick Ratio	1.30	0.88	0.78
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-104	0.80	-19
Operating Cash Flow to CapEx	-120.47%	-172.35%	13.64%
Free Cash Flow to Firm to Interest Expense	-129.04	0.36	-7.72
Operating Cash Flow to Interest Expense	-64.73	-10.09	0.36
Operating Cash Flow Less CapEx to Interest Expense	-118.45	-15.94	-2.25
Efficiency Ratios	-	-	-
Asset Turnover	0.87	0.94	1.23
Accounts Receivable Turnover	65.50	53.49	60.73
Inventory Turnover	7.02	5.90	30.11
Fixed Asset Turnover	3.90	3.04	3.55
Accounts Payable Turnover	9.09	10.32	8.70
Days Sales Outstanding (DSO)	5.57	6.82	6.01
Days Inventory Outstanding (DIO)	51.96	61.84	12.12
Days Payable Outstanding (DPO)	40.16	35.36	41.94
Cash Conversion Cycle (CCC)	17.37	33.31	-23.80
Capital & Investment Metrics	-	-	-
Invested Capital	113	76	67
Invested Capital Turnover	3.11	2.74	3.66
Increase / (Decrease) in Invested Capital	41	-38	-8.95
Enterprise Value (EV)	106	237	168
Market Capitalization	132	241	158
Book Value per Share	$1.39	$0.97	$0.49
Tangible Book Value per Share	$1.17	$0.86	$0.40
Total Capital	218	162	111
Total Debt	78	58	54
Total Long-Term Debt	75	54	51
Net Debt	-27	-4.77	10
Capital Expenditures (CapEx)	43	13	6.58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-51	-41	-45
Debt-free Net Working Capital (DFNWC)	54	21	-0.75
Net Working Capital (NWC)	50	17	-4.60
Net Nonoperating Expense (NNE)	30	34	49
Net Nonoperating Obligations (NNO)	-27	-28	10
Total Depreciation and Amortization (D&A)	14	14	17
Debt-free, Cash-free Net Working Capital to Revenue	-17.78%	-16.01%	-17.28%
Debt-free Net Working Capital to Revenue	18.61%	8.14%	-0.29%
Net Working Capital to Revenue	17.26%	6.66%	-1.77%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.92)	($0.68)	($0.69)
Adjusted Weighted Average Basic Shares Outstanding	99.82M	104.88M	111.96M
Adjusted Diluted Earnings per Share	($0.92)	($0.68)	($0.69)
Adjusted Weighted Average Diluted Shares Outstanding	99.82M	104.88M	111.96M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	101.61M	108.83M	116.19M
Normalized Net Operating Profit after Tax (NOPAT)	-63	-37	-28
Normalized NOPAT Margin	-21.72%	-14.35%	-10.93%
Pre Tax Income Margin	-31.99%	-20.25%	-15.37%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-113.60	-22.38	-14.83
NOPAT to Interest Expense	-77.81	-16.57	-11.26
EBIT Less CapEx to Interest Expense	-167.32	-28.23	-17.44
NOPAT Less CapEx to Interest Expense	-131.54	-22.42	-13.87
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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.38%	-2.14%	4.44%	8.16%	20.76%	-74.94%	4.83%	-3.51%	-11.00%	54.78%
EBITDA Growth	-69.28%	-8.93%	5.74%	46.69%	40.17%	134.08%	31.78%	36.09%	-62.22%	250.65%
EBIT Growth	-67.38%	-12.04%	2.79%	35.97%	26.39%	125.61%	19.49%	26.24%	-39.15%	218.18%
NOPAT Growth	-56.09%	10.56%	1.91%	33.96%	24.80%	135.68%	17.20%	23.61%	-36.70%	272.42%
Net Income Growth	-60.91%	-8.87%	4.42%	33.94%	23.63%	25.06%	16.36%	25.62%	-36.99%	-48.55%
EPS Growth	-60.00%	-152.94%	9.52%	37.93%	29.17%	22.22%	21.05%	27.78%	-29.41%	-35.71%
Operating Cash Flow Growth	-140.06%	27.39%	33.25%	42.82%	101.84%	47.42%	131.25%	52.10%	1,400.90%	114.17%
Free Cash Flow Firm Growth	-3,880.94%	41.58%	-33.82%	0.27%	24.03%	179.67%	96.13%	106.88%	109.50%	-42.38%
Invested Capital Growth	752.84%	57.08%	205.09%	133.36%	87.83%	-33.40%	-7.20%	-13.12%	-21.76%	-11.84%
Revenue Q/Q Growth	-11.09%	4.96%	6.46%	8.87%	-0.74%	-78.21%	-2.22%	0.21%	-8.44%	-62.11%
EBITDA Q/Q Growth	19.07%	21.92%	-2.48%	17.69%	9.16%	144.47%	-20.70%	22.88%	-130.57%	196.13%
EBIT Q/Q Growth	16.29%	17.45%	-1.30%	8.52%	3.77%	128.73%	-14.07%	16.20%	-81.54%	165.68%
NOPAT Q/Q Growth	14.62%	32.25%	-23.15%	7.29%	2.78%	132.15%	-13.29%	14.46%	-73.98%	187.58%
Net Income Q/Q Growth	16.62%	17.65%	-1.51%	5.22%	3.61%	19.18%	-13.28%	15.71%	-77.52%	12.37%
EPS Q/Q Growth	17.24%	25.00%	-5.56%	5.26%	5.56%	17.65%	-7.14%	13.33%	-69.23%	13.64%
Operating Cash Flow Q/Q Growth	33.33%	-25.30%	70.61%	-132.86%	102.15%	-3,676.23%	117.47%	-456.93%	167.32%	-66.24%
Free Cash Flow Firm Q/Q Growth	-2.12%	36.44%	-72.02%	10.68%	22.21%	166.66%	50.35%	259.02%	7.34%	304.40%
Invested Capital Q/Q Growth	12.41%	98.29%	0.34%	4.33%	-9.52%	-29.69%	-4.12%	-2.32%	-18.52%	-20.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	65.49%	63.05%	67.30%	67.42%	69.02%	195.89%	69.52%	70.37%	71.19%	157.95%
EBITDA Margin	-29.48%	-21.93%	-21.11%	-15.96%	-14.60%	29.81%	-13.74%	-10.57%	-26.62%	67.54%
Operating Margin	-35.60%	-22.98%	-26.58%	-22.64%	-22.17%	22.88%	-21.00%	-17.92%	-34.06%	55.13%
EBIT Margin	-34.68%	-27.28%	-25.96%	-21.81%	-21.14%	27.88%	-19.94%	-16.67%	-33.06%	57.31%
Profit (Net Income) Margin	-34.85%	-27.34%	-26.07%	-22.70%	-22.04%	-81.75%	-20.80%	-17.50%	-33.92%	-78.46%
Tax Burden Percent	100.04%	100.02%	100.05%	100.06%	100.02%	-341.90%	100.07%	100.04%	100.02%	-141.99%
Interest Burden Percent	100.44%	100.21%	100.39%	104.00%	104.22%	85.77%	104.27%	104.90%	102.61%	96.42%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	-0.12%	0.00%	0.00%	0.00%	0.05%
Return on Invested Capital (ROIC)	-298.24%	-49.96%	-71.79%	-55.63%	-58.79%	62.64%	-43.62%	-36.48%	-78.09%	201.55%
ROIC Less NNEP Spread (ROIC-NNEP)	-293.98%	-39.93%	-65.03%	-46.10%	-47.48%	130.80%	146.38%	-89.48%	-193.59%	611.44%
Return on Net Nonoperating Assets (RNNOA)	255.00%	18.48%	34.20%	18.99%	17.32%	-29.43%	-3.33%	-6.44%	-13.80%	-68.81%
Return on Equity (ROE)	-43.25%	-31.48%	-37.60%	-36.64%	-41.48%	33.21%	-46.95%	-42.92%	-91.89%	132.74%
Cash Return on Invested Capital (CROIC)	-227.16%	-111.88%	-183.77%	-145.58%	-123.49%	0.84%	-36.14%	-26.29%	-27.19%	-27.41%
Operating Return on Assets (OROA)	-30.03%	-23.74%	-23.08%	-20.88%	-22.55%	26.11%	-24.09%	-21.20%	-43.19%	70.76%
Return on Assets (ROA)	-30.17%	-23.79%	-23.18%	-21.73%	-23.50%	-76.58%	-25.13%	-22.25%	-44.32%	-96.88%
Return on Common Equity (ROCE)	-43.25%	-31.48%	-37.60%	-36.64%	-41.48%	33.21%	-46.95%	-42.92%	-91.89%	132.74%
Return on Equity Simple (ROE_SIMPLE)	-60.59%	0.00%	-69.70%	-67.77%	-69.50%	0.00%	-72.71%	-73.08%	-100.90%	0.00%
Net Operating Profit after Tax (NOPAT)	-17	-11	-14	-13	-13	4.09	-12	-10	-17	15
NOPAT Margin	-24.92%	-16.09%	-18.61%	-15.85%	-15.52%	22.90%	-14.70%	-12.55%	-23.84%	55.11%
Net Nonoperating Expense Percent (NNEP)	-4.26%	-10.03%	-6.76%	-9.53%	-11.31%	-68.16%	-190.00%	53.00%	115.50%	-409.88%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	2.53%	-	-	-	13.76%
Cost of Revenue to Revenue	34.51%	36.95%	32.70%	32.58%	30.98%	-95.89%	30.48%	29.63%	28.82%	-57.95%
SG&A Expenses to Revenue	22.42%	20.38%	21.15%	19.39%	18.35%	53.66%	22.08%	19.36%	19.92%	33.75%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	101.09%	86.03%	93.88%	90.06%	91.19%	173.02%	90.51%	88.29%	105.24%	102.81%
Earnings before Interest and Taxes (EBIT)	-24	-19	-20	-18	-17	4.98	-16	-13	-24	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-16	-16	-13	-12	5.33	-11	-8.43	-19	19
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.23	0.94	1.96	2.09	3.86	2.32	2.33	2.17	1.37	2.81
Price to Tangible Book Value (P/TBV)	1.43	1.12	2.35	2.53	4.72	2.60	2.92	2.75	1.72	3.47
Price to Revenue (P/Rev)	0.64	0.46	0.88	0.84	1.36	0.93	0.67	0.58	0.30	0.61
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
Dividend Yield	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%
Enterprise Value to Invested Capital (EV/IC)	1.60	0.93	2.11	2.10	3.92	3.13	2.17	1.98	1.30	2.53
Enterprise Value to Revenue (EV/Rev)	0.32	0.37	0.82	0.84	1.35	0.92	0.71	0.63	0.35	0.65
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
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
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
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	187.57
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	296.27	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.21	0.56	0.58	0.62	0.66	0.55	0.80	0.83	1.01	0.97
Long-Term Debt to Equity	0.18	0.53	0.55	0.59	0.62	0.52	0.76	0.79	0.96	0.90
Financial Leverage	-0.87	-0.46	-0.53	-0.41	-0.36	-0.23	-0.02	0.07	0.07	-0.11
Leverage Ratio	1.83	1.92	2.06	2.16	2.26	2.26	2.40	2.45	2.69	2.63
Compound Leverage Factor	1.84	1.92	2.07	2.24	2.35	1.94	2.50	2.57	2.76	2.53
Debt to Total Capital	17.04%	35.90%	36.77%	38.38%	39.68%	35.69%	44.38%	45.43%	50.30%	49.19%
Short-Term Debt to Total Capital	2.15%	1.78%	1.87%	1.96%	2.11%	2.38%	2.29%	2.43%	2.76%	3.48%
Long-Term Debt to Total Capital	14.89%	34.12%	34.90%	36.42%	37.57%	33.31%	42.10%	43.00%	47.54%	45.71%
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%
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%
Common Equity to Total Capital	82.96%	64.10%	63.23%	61.62%	60.32%	64.31%	55.62%	54.57%	49.70%	50.82%
Debt to EBITDA	-0.40	-1.01	-1.00	-1.16	-1.27	-1.61	-1.65	-1.78	-1.47	-2.71
Net Debt to EBITDA	1.21	0.34	0.23	0.03	0.04	0.13	-0.27	-0.41	-0.31	-0.51
Long-Term Debt to EBITDA	-0.35	-0.96	-0.95	-1.10	-1.20	-1.50	-1.57	-1.69	-1.38	-2.52
Debt to NOPAT	-0.48	-1.25	-1.22	-1.35	-1.40	-1.55	-1.56	-1.61	-1.42	-1.92
Net Debt to NOPAT	1.45	0.42	0.28	0.03	0.04	0.13	-0.25	-0.37	-0.30	-0.36
Long-Term Debt to NOPAT	-0.42	-1.19	-1.16	-1.28	-1.33	-1.45	-1.48	-1.52	-1.34	-1.78
Altman Z-Score	-0.15	-0.46	-0.17	-0.31	0.23	-0.51	-0.81	-1.08	-2.02	-1.93
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.69	1.59	1.42	1.35	1.25	1.22	1.13	1.06	0.96	0.93
Quick Ratio	1.41	1.30	1.11	0.99	0.95	0.88	0.90	0.83	0.80	0.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-83	-53	-91	-81	-63	42	-3.50	5.57	5.98	24
Operating Cash Flow to CapEx	-103.16%	-385.41%	-78.50%	-156.98%	15.04%	0.00%	85.99%	-424.96%	130.08%	92.55%
Free Cash Flow to Firm to Interest Expense	-805.04	-1,285.50	-1,177.42	-112.32	-86.06	59.23	-5.18	8.55	9.51	42.67
Operating Cash Flow to Interest Expense	-117.51	-369.90	-57.90	-14.40	0.30	-11.25	2.06	-7.63	5.32	1.99
Operating Cash Flow Less CapEx to Interest Expense	-231.43	-465.88	-131.65	-23.57	-1.72	-10.31	-0.34	-9.42	1.23	-0.16
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.87	0.87	0.89	0.96	1.07	0.94	1.21	1.27	1.31	1.23
Accounts Receivable Turnover	114.37	65.50	80.97	83.31	68.05	53.49	58.36	66.76	53.59	60.73
Inventory Turnover	9.88	7.02	5.97	5.92	6.24	5.90	6.62	6.80	7.83	30.11
Fixed Asset Turnover	4.17	3.90	3.45	3.35	3.47	3.04	3.60	3.66	3.76	3.55
Accounts Payable Turnover	11.07	9.09	6.10	8.14	9.83	10.32	9.84	10.61	7.83	8.70
Days Sales Outstanding (DSO)	3.19	5.57	4.51	4.38	5.36	6.82	6.25	5.47	6.81	6.01
Days Inventory Outstanding (DIO)	36.95	51.96	61.12	61.64	58.48	61.84	55.12	53.64	46.64	12.12
Days Payable Outstanding (DPO)	32.97	40.16	59.86	44.86	37.14	35.36	37.09	34.41	46.64	41.94
Cash Conversion Cycle (CCC)	7.17	17.37	5.77	21.17	26.71	33.31	24.28	24.70	6.81	-23.80
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	57	113	114	119	107	76	106	103	84	67
Invested Capital Turnover	11.97	3.11	3.86	3.51	3.79	2.74	2.97	2.91	3.28	3.66
Increase / (Decrease) in Invested Capital	66	41	77	68	50	-38	-8.19	-16	-23	-8.95
Enterprise Value (EV)	92	106	240	250	421	237	230	204	109	168
Market Capitalization	184	132	257	252	423	241	218	187	95	158
Book Value per Share	$1.50	$1.39	$1.29	$1.17	$1.04	$0.97	$0.86	$0.78	$0.62	$0.49
Tangible Book Value per Share	$1.29	$1.17	$1.08	$0.97	$0.85	$0.86	$0.68	$0.62	$0.49	$0.40
Total Capital	180	218	207	196	182	162	168	158	139	111
Total Debt	31	78	76	75	72	58	75	72	70	54
Total Long-Term Debt	27	75	72	71	68	54	71	68	66	51
Net Debt	-92	-27	-17	-1.82	-2.07	-4.77	12	17	15	10
Capital Expenditures (CapEx)	12	3.94	5.68	6.61	1.48	-0.67	1.62	1.17	2.57	1.22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-57	-51	-53	-45	-49	-41	-49	-47	-54	-45
Debt-free Net Working Capital (DFNWC)	66	54	41	32	25	21	14	8.38	0.81	-0.75
Net Working Capital (NWC)	62	50	37	28	21	17	9.79	4.53	-3.04	-4.60
Net Nonoperating Expense (NNE)	6.75	8.03	5.66	5.66	5.35	19	4.86	3.95	7.36	37
Net Nonoperating Obligations (NNO)	-92	-27	-17	-1.82	-2.07	-28	12	17	15	10
Total Depreciation and Amortization (D&A)	3.54	3.82	3.68	4.84	5.36	0.35	4.93	4.87	4.70	2.83
Debt-free, Cash-free Net Working Capital to Revenue	-19.77%	-17.78%	-18.13%	-15.12%	-15.77%	-16.01%	-15.01%	-14.53%	-17.36%	-17.28%
Debt-free Net Working Capital to Revenue	22.73%	18.61%	13.92%	10.71%	8.00%	8.14%	4.18%	2.60%	0.26%	-0.29%
Net Working Capital to Revenue	21.39%	17.26%	12.59%	9.42%	6.77%	6.66%	3.00%	1.40%	-0.97%	-1.77%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.24)	($0.18)	($0.19)	($0.18)	($0.17)	($0.14)	($0.15)	($0.13)	($0.22)	($0.19)
Adjusted Weighted Average Basic Shares Outstanding	100.25M	99.82M	101.98M	103.91M	105.90M	104.88M	109.29M	111.00M	112.85M	111.96M
Adjusted Diluted Earnings per Share	($0.24)	($0.18)	($0.19)	($0.18)	($0.17)	($0.14)	($0.15)	($0.13)	($0.22)	($0.19)
Adjusted Weighted Average Diluted Shares Outstanding	100.25M	99.82M	101.98M	103.91M	105.90M	104.88M	109.29M	111.00M	112.85M	111.96M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	100.81M	101.61M	103.09M	105.47M	107.25M	108.83M	110.26M	112.43M	113.76M	116.19M
Normalized Net Operating Profit after Tax (NOPAT)	-17	-11	-14	-13	-13	2.86	-12	-10	-11	15
Normalized NOPAT Margin	-24.92%	-16.09%	-18.61%	-15.85%	-15.52%	16.01%	-14.70%	-12.55%	-14.43%	55.11%
Pre Tax Income Margin	-34.84%	-27.34%	-26.06%	-22.68%	-22.03%	23.91%	-20.79%	-17.49%	-33.92%	55.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-228.80	-474.49	-255.94	-25.00	-23.70	7.03	-23.44	-20.39	-38.38	27.96
NOPAT to Interest Expense	-164.40	-279.81	-183.48	-18.17	-17.40	5.77	-17.28	-15.35	-27.68	26.89
EBIT Less CapEx to Interest Expense	-342.71	-570.46	-329.69	-34.17	-25.72	7.97	-25.83	-22.19	-42.47	25.81
NOPAT Less CapEx to Interest Expense	-278.31	-375.79	-257.24	-27.34	-19.42	6.71	-19.67	-17.14	-31.77	24.74
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%
Augmented Payout Ratio	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 fiscal year end?

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

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 4/16/2025 by MarketBeat.com Staff

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ThredUp (TDUP) Financials

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ThredUp (TDUP) Financials

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