ThredUp Inc., the resale platform, reported a slightly wider loss in the first quarter ended March 31, but sales grew 15 percent and gross margins slightly improved.

“We are proud to deliver Q1 out-performance, including a record month for new buyer acquisition,” said ThredUp CEO and co-founder James Reinhart. “As we look ahead, we remain focused on executing our growth plan amidst an ever-changing consumer environment, and building a marketplace that delivers clear value to buyers and convenience for sellers.”

First Quarter 2026 Financial Highlights

  • Revenue totaled $81.7 million, an increase of 15 percent year-over-year.
  • Gross Profit and gross margin: Gross profit totaled $64.7 million, an increase of 15 percent year-over-year. Gross margin was 79.2 percent as compared to 79.1 percent in the first quarter last year.
  • Net loss was $6.5 million, or a negative 7.9 percent of revenue, for the first quarter 2026, compared to a loss of $5.2 million, or a negative 7.3 percent of revenue, for the first quarter last year.
  • Adjusted EBITDA was $2.7 million, or 3.4 percent of revenue, for the first quarter 2026, compared to $3.8 million, or 5.3 percent of revenue, for the first quarter last year.
  • Active buyers and Orders: Active buyers of 1.71 million and orders of 1.64 million for the first quarter 2026, representing increases of 25 percent and 19 percent, respectively, over the first quarter last year.

Financial Outlook

For the second quarter 2026, ThredUp expects:

  • Revenue in the range of $89.0 million to $91.0 million, +16 percent year-over-year at the midpoint
  • Gross margin in the range of 78.5 percent to 79.5 percent
  • Adjusted EBITDA margin of approximately 5.2 percent

For the full fiscal year 2026, ThredUp expects:

  • Revenue in the range of $351.2 million to $356.2 million, +14 percent year-over-year at the midpoint
  • Gross margin in the range of 78.5 percent to 79.5 percent
  • Adjusted EBITDA margin of approximately 6.1 percent

Image courtesy ThredUp Inc.