ThredUp's first quarter revenue reached $72.7 million! The number of active buyers increased to 1.7 million!

It is learned that according to foreign media reports, ThredUp, a second-hand resale e-commerce company in the United States, recently announced its financial results for the first quarter of 2022. The report shows that the company's revenue this quarter was US$72.7 million, a year-on-year increase of 31%, and its revenue exceeded Wall Street's expectations of US$71.6 million.

1. Financial Highlights

• Total revenue was $72.7 million, up 31% year-over-year;
• Total gross profit was $50.2 million, up 26% year-over-year;
• Gross profit margin was 69.1%, down from 71.3% in the same period last year;
• GAAP net loss was $20.7 million, or 28.5% of revenues, compared to $16.2 million, or 29.0% of revenues, last year.
• Adjusted EBITDA loss was $13 million, or 17.8% of revenue, compared to $9.1 million, or 16.4% of revenue, last year.
• The number of active buyers increased by 33% year-on-year to 1.7 million;
• Total orders increased 45% year-on-year to 1.6 million.

2. Business Highlights

• Strengthened logistics network: opened new distribution centers in Dallas, Texas and Sofia, Bulgaria, and opened two new package sorting centers in Texas and Tennessee;
• Resale as a Service (RaaS): Continued to expand the program, adding new customers and expanding into new categories, with 1.73 million items listed through RaaS;
• Launched "Recmerce 100": a comprehensive and objective brand analytics tool that tracks whether a brand is engaged in resale and understands its resale program.

3. Future Prospects

For the second quarter of 2022, thredUP expects revenue between $75 million and $77 million, gross margin between 67% and 69%, and adjusted EBITDA margin loss between 19% and 17%.

For the full fiscal year 2022, thredUP expects revenue between $315 million and $325 million, gross margin between 67% and 69%, and adjusted EBITDA margin loss between 16% and 14%.

Editor ✎ Nicole/

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