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ThredUp operates one of the world s largest online resale platforms for apparel, shoes and accessories. We believe in a sustainable fashion future and we are proud that our business model creates a positive impact to the benefit of our buyers, sellers, clients, employees, investors and the environment.
The business is unprofitable at the operating level (-7.00% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 19.5% YoY with margins expanding 8.6pp.
Net debt of $4M represents 22.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$321M
▲ +19.5% YoY
Net Income (TTM)
-$21M
▲ +73.7% YoY
Op. Margin
-7.13%
▲ +8.6pp YoY
ROIC
-15.98%
▲ +6.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▲ +110.7% YoY
Op. Cash Flow (TTM)
$10M
▲ +117.3% YoY
Net Debt
$3M
Cash & Equiv.
$49M
5Y CAGR: +10.8%
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