ThredUp stock falls after mixed Q1 results for secondhand retailer

thredup-stock-falls-after-mixed-q1-results-for-secondhand-retailer

ThredUp Inc. TDUP, -13.42% shares fell nearly 10% in the extended session Monday after the secondhand retailer posted mixed quarterly results, with sales above expectations but losses wider than Wall Street estimated. ThredUp said it lost $21 million, or 21 cents a share, in the quarter, compared with a loss of $16 million, or 86 cents a share, in the year-ago period. Revenue rose 31% to $73 million, the company said. FactSet consensus called for a loss of 16 cents a share on sales of $71 million. “We kicked off 2022 with another quarter of strong financial performance, demonstrating the ongoing competitive advantages we’ve developed in our supply chain,” Chief Executive and co-founder James Reinhart said in a statement. ThredUp said it had 1.7 million active buyers in the quarter, representing growth of 33% year-on-year. The company guided for second-quarter revenue between $75 million and $77 million, and an adjusted EBITDA margin loss between 19% and 17%. For the full fiscal year 2022, ThredUp expects revenue between $315 million and $325 million, and adjusted EBITDA margin loss between 16% and 14%. Shares of Thredup ended the regular trading day down 13%.

Source: Marketwatch

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