TDUP on Nasdaq

Thredup

American company

ThredUp Inc. is an American company that operates an online resale platform specializing in the sale of second-hand clothing, footwear, and accessories.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

$310.8MRevenue, fiscal 2025⁴

-$20.2MNet income, fiscal 2025⁴

Jan 1, 2009Founded¹

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TickerTDUP on Nasdaq¹
Industryconsignment, online shopping¹
HeadquartersSan Francisco¹
Websitewww.thredup.com
Incorporated inDE⁵
Business address969 Broadway, Suite 200, Oakland, Ca 94607⁵
Filer categoryAccelerated filer, Emerging growth company⁵

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ThredUp Inc. is an American company that operates an online resale platform specializing in the sale of second-hand clothing, footwear, and accessories. Founded in 2009 and headquartered in Oakland, California, it has established itself as one of the leading resale fashion marketplaces.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

79.4%Gross margin⁴

-7.0%Operating margin⁴

-6.5%Net margin⁴

19.5%Revenue growth, 2025⁴

-34.1%Return on equity⁴

0.24×Debt to equity⁴

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueSelling, general and adminOther costs

Cost of revenue21¢$64.1M
Research and development10¢$32.1M
Selling, general and admin18¢$56.7M
Other costs51¢$157.9M
Income tax0¢$59.0K

Out of $310.8M in revenue.⁴ The company lost money this year.

Financial statements

Revenue⁷⁸⁹¹⁰⁴$310.8M in 2025+90% since 2019

Gross profit⁷⁸⁹¹⁰⁴$246.8M in 2025+119% since 2019

Operating income⁷⁸⁹¹⁰⁴-$21.7M in 2025−41% since 2019

Net income⁷⁸⁹¹⁰⁴-$20.2M in 2025−47% since 2019

Every line of the income statement as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Revenue	$310.8M	$260.0M
Cost of revenue	$64.1M	$52.9M
Gross profit	$246.8M	$207.1M
Operations, product and technology	$152.9M	$142.2M
Marketing	$59.0M	$48.6M
Sales, general and administrative	$56.7M	$56.9M
Total operating expenses	$268.5M	$247.7M
Operating loss	-$21.7M	-$40.6M
Interest expense	-$1.9M	-$2.5M
Other income, net	$3.5M	$3.2M
Loss before provision for income taxes	-$20.2M	-$40.0M
Provision for income taxes	$59.0K	$29.0K
Loss from continuing operations	-$20.2M	-$40.0M
Loss from discontinued operations, net of tax	$0	-$37.0M
Net loss	-$20.2M	-$77.0M
Weighted-average shares used to compute loss per share, basic (in shares)	121.7M shares	112.0M shares
Weighted-average shares used to compute loss per share, diluted (in shares)	121.7M shares	112.0M shares
Loss from continuing operations per share, basic (in dollars per share)	-$0	-$0
Loss from continuing operations per share, diluted (in dollars per share)	-$0	-$0
Loss from discontinued operations per share, basic (in dollars per share)	$0	-$0
Loss from discontinued operations per share, diluted (in dollars per share)	$0	-$0
Total loss per share, basic (in dollars per share)	-$0.17	-$0.69
Total loss per share, diluted (in dollars per share)	-$0.17	-$0.69

Total assets⁷⁸⁹¹⁰⁴$167.2M in 2025+17% since 2020

Total liabilities⁷⁸⁹¹⁰⁴$108.1M in 2025−8% since 2020

Shareholders’ equity⁷⁸⁹¹⁰⁴$59.2M in 2025

Cash⁷⁸⁹¹⁰⁴$38.6M in 2025+382% since 2018

Long-term debt⁷⁸⁹¹⁰⁴$14.3M in 2025−54% since 2020

Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$38.6M	$31.9M
Marketable securities	$9.5M	$12.3M
Accounts receivable, net	$2.4M	$3.6M
Other current assets	$6.1M	$9.2M
Total current assets	$56.7M	$56.9M
Operating lease right-of-use assets	$25.4M	$28.9M
Property and equipment, net	$67.2M	$68.5M
Goodwill	$10.7M	$10.7M
Other assets	$7.2M	$6.2M
Total assets	$167.2M	$171.2M
Accounts payable	$10.3M	$8.3M
Accrued and other current liabilities	$24.5M	$29.9M
Seller payable	$18.3M	$15.1M
Operating lease liabilities, current	$5.4M	$4.3M
Current portion of long-term debt	$3.9M	$3.9M
Total current liabilities	$62.4M	$61.5M
Operating lease liabilities, non-current	$28.6M	$32.5M
Long-term debt, net of current portion	$14.3M	$18.2M
Other non-current liabilities	$2.8M	$2.8M
Total liabilities	$108.1M	$114.9M
Class A and B common stock, $0.0001 par value; 1,120,000 shares authorized as of December 31, 2025 and 2024; 127,027 and 116,134 shares issued and outstanding as of December 31, 2025 and 2024, respectively	$12.0K	$11.0K
Additional paid-in capital	$635.3M	$612.1M
Accumulated other comprehensive income	$3.0K	$3.0K
Accumulated deficit	-$576.1M	-$555.9M
Total stockholders equity	$59.2M	$56.3M	$103.9M
Total liabilities and stockholders equity	$167.2M	$171.2M
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	1.1B shares	1.1B shares
Common stock, shares issued (in shares)	127.0M shares	116.1M shares
Common stock, shares outstanding (in shares)	127.0M shares	116.1M shares

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$38.6M	$31.9M
Marketable securities	$9.5M	$12.3M
Accounts receivable, net	$2.4M	$3.6M
Other current assets	$6.1M	$9.2M
Total current assets	$56.7M	$56.9M
Operating lease right-of-use assets	$25.4M	$28.9M
Property and equipment, net	$67.2M	$68.5M
Goodwill	$10.7M	$10.7M
Other assets	$7.2M	$6.2M
Total assets	$167.2M	$171.2M
Accounts payable	$10.3M	$8.3M
Accrued and other current liabilities	$24.5M	$29.9M
Seller payable	$18.3M	$15.1M
Operating lease liabilities, current	$5.4M	$4.3M
Current portion of long-term debt	$3.9M	$3.9M
Total current liabilities	$62.4M	$61.5M
Operating lease liabilities, non-current	$28.6M	$32.5M
Long-term debt, net of current portion	$14.3M	$18.2M
Other non-current liabilities	$2.8M	$2.8M
Total liabilities	$108.1M	$114.9M
Class A and B common stock, $0.0001 par value; 1,120,000 shares authorized as of December 31, 2025 and 2024; 127,027 and 116,134 shares issued and outstanding as of December 31, 2025 and 2024, respectively	$12.0K	$11.0K
Additional paid-in capital	$635.3M	$612.1M
Accumulated other comprehensive income	$3.0K	$3.0K
Accumulated deficit	-$576.1M	-$555.9M
Total stockholders equity	$59.2M	$56.3M	$103.9M
Total liabilities and stockholders equity	$167.2M	$171.2M
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	1.1B shares	1.1B shares
Common stock, shares issued (in shares)	127.0M shares	116.1M shares
Common stock, shares outstanding (in shares)	127.0M shares	116.1M shares

Cash from operations⁷⁸⁹-$22.6M in 2023+124% since 2019

Capital spending⁷⁸⁹¹⁰⁴$10.5M in 2025+10% since 2019

Free cash flow⁷⁸⁹-$35.7M in 2023+82% since 2019

Every line of the cash flow as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Loss from continuing operations	-$20.2M	-$40.0M
Depreciation and amortization	$12.9M	$17.3M
Stock-based compensation expense	$19.0M	$25.8M
Reduction in carrying amount of right-of-use assets	$4.6M	$4.5M
Impairment of long-lived assets	$1.1M	$0
Other	-$833.0K	-$16.0K
Accounts receivable, net	$1.1M	$1.5M
Other current and non-current assets	-$366.0K	$3.0M
Accounts payable	$1.4M	$3.9M
Accrued and other liabilities	-$6.0M	-$561.0K
Seller payable	$3.1M	-$5.7M
Operating lease liabilities	-$4.8M	-$4.9M
Other non-current liabilities	-$500.0K	$0
Net cash provided by continuing operating activities	$10.7M	$4.9M
Purchases of marketable securities	-$20.7M	-$31.8M
Sale and maturities of marketable securities	$24.0M	$28.1M
Purchases of property and equipment	-$10.5M	-$6.6M
Net cash used in continuing investing activities	-$7.2M	-$10.3M
Repayment of debt	-$4.0M	-$4.0M
Proceeds from issuance of stock-based awards	$27.9M	$3.7M
Payments of withholding taxes on stock-based awards	-$24.3M	-$4.1M
Net cash used in continuing financing activities	-$397.0K	-$4.4M
Net change in cash, cash equivalents and restricted cash from continuing operations	$3.1M	-$9.7M
Net cash flow used in discontinued operating activities	$0	-$4.0M
Net cash flow used in discontinued investing activities	$0	-$6.6M
Net change in cash, cash equivalents and restricted cash from discontinued operations	$0	-$10.6M
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$0	-$586.0K
Net change in cash, cash equivalents and restricted cash	$3.1M	-$21.0M
Cash paid for interest	$1.8M	$2.4M
Purchases of property and equipment included in accounts payable and accrued liabilities	$1.9M	$681.0K
Right-of-use assets obtained in exchange for new lease liabilities	$1.9M	$5.3M

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The story

ThredUp was founded in 2009 by James Reinhart, Chris Homer, and Oliver Lubin who raised US$131 million in a funding round.

In 2019, ThredUp launched Thrift Cards. Two years later, it was listed on the Nasdaq.

Since its inception, ThredUp has processed more than 137 million secondhand items from approximately 55,000 different brands. The company has several distribution centers in the United States and Europe, allowing it to efficiently manage its inventory and meet customer demand.

In the first half of 2023, ThredUp increased its sales by 4% to €99.8 million, substantially reducing its negative result to €38.5 million.

From Wikipedia’s article on ThredUp, shared under CC BY-SA 4.0.⁶

Leadership

Who has led Thredup, and when. Pick a name to see everywhere that person has worked.

2010201520202025

Chief executive officerJames G. Reinhart Mar 25, 2021 to now¹⁵
Chief financial officerSean Sobers Mar 25, 2021 to now¹⁶
Chief operating officerChristopher Homer Mar 25, 2021 to now¹⁷

Board members and other officers (15)

Board memberKelly Bodnar Battles Dec 3, 2025 to now¹⁸
Board memberNoam Paranksy Jun 25, 2024 to now¹⁹
Board memberCoretha M. Rushing Jan 13, 2022 to now²⁰
Board memberAmanda Ginsberg Mar 25, 2021 to now²¹
Board memberDaniel J. Nova Mar 25, 2021 to now²²
Board memberGreg Bettinelli Mar 25, 2021 to Nov 23, 2021²³
Board memberIan Friedman Mar 25, 2021 to now²⁴
Board memberJack R. Lazar Mar 25, 2021 to Sep 4, 2024²⁵
Board memberJames G. Reinhart Mar 25, 2021 to now¹⁵
Board memberMarcie Vu Mar 25, 2021 to Oct 19, 2023²⁶
Board memberNorman S. Matthews Mar 25, 2021 to May 27, 2022²⁷
Board memberPatricia Nakache Mar 25, 2021 to now²⁸
Board memberPaula Sutter Mar 25, 2021 to May 5, 2023²⁹
Board memberTimothy M. Haley Mar 25, 2021 to now³⁰
General counselAlon Rotem Mar 25, 2021 to now³¹

Products and brands

The ThredUp marketplace provides services both to consumers and business. In B2C they provide two separate services: One to customers who want to sell their used clothes. The company sends those customers a free “Clean Out Kit” which is a bag in which they can send all the used clothes they want with free shipping. ThredUp sorts, evaluates and presents the clothes for selling. The customer receives compensation via a cash payment or online credit and is also given the option to donate to charity. The second service is to customers who can use their page to find and purchase clothes sorted by brand, type or style.

ThredUp also offers a B2B service to brand retailers. Through resale as a service (RaaS) partnerships they give the fashion brands Clean Out Kits that they can use to provide a return service to their own customers in exchange for in-store credit.

From Wikipedia’s article on ThredUp, shared under CC BY-SA 4.0.⁶

Timeline

Mar 25, 2021New chief executive James G. Reinhart becomes CEO¹⁵
Mar 2021Went public Listed on NASDAQ¹
Jan 1, 2009Founded Founded¹

Filings

621 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 43 major events, 379 insider forms, 65 large holders, 114 other. The latest 20:

Sep 2, 20264 EDGAR
Sep 2, 2026144 EDGAR
Sep 2, 2026144 EDGAR
Sep 2, 2026144 EDGAR
Sep 2, 20264 EDGAR
Sep 2, 20264 EDGAR
Aug 5, 202610-Q EDGAR
Aug 5, 20268-K EDGAR
Jul 22, 20264 EDGAR
Jul 22, 20264 EDGAR
Jul 22, 20264 EDGAR
Jul 22, 20264 EDGAR
Jul 22, 20264 EDGAR
Jun 3, 20264 EDGAR
Jun 3, 20264 EDGAR
Jun 3, 20264 EDGAR
Jun 2, 2026144 EDGAR
Jun 2, 2026144 EDGAR
Jun 2, 2026144 EDGAR
May 21, 20264 EDGAR

The 621 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 65 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
BlackRock, Inc.	10,968,644	$75.1M	0.0%	+2,721,277
Needham Investment Management LLC	10,175,000	$69.7M	2.1%	+900,000
Capital World Investors	8,939,970	$61.2M	0.0%	+232,370
Aqr Capital Management LLC	5,150,020	$35.3M	0.0%	+4,062,111
Vanguard Capital Management LLC	4,477,341	$30.7M	0.0%	+114,130
Gilder Gagnon Howe & Co LLC	4,147,133	$28.4M	0.3%	+1,772,009
Divisadero Street Capital Management, LP	3,628,206	$24.9M	0.6%	+2,634,257
Marshall Wace, Llp	3,511,732	$24.1M	0.0%	−1,384,901
Arrowstreet Capital, Limited Partnership	3,355,413	$23.0M	0.0%	+389,929
State Street Corp	3,220,371	$22.1M	0.0%	+126,407
Goldman Sachs Group Inc	3,058,071	$20.9M	0.0%	+973,210
Geode Capital Management, LLC	2,686,241	$18.4M	0.0%	+331,170
Vanguard Portfolio Management LLC	2,274,685	$15.6M	0.0%	−176,011
Two Sigma Investments, LP	2,273,563	$15.6M	0.0%	+50,056
Blair William & Co/il	2,195,729	$15.0M	0.0%	+113,175
Fmr LLC	2,126,272	$14.6M	0.0%	−936,732
Ci Investments Inc.	2,029,000	$13.9M	0.0%	+219,000
Nuveen, LLC	1,865,079	$12.8M	0.0%	+566,832
D. E. Shaw & Co., Inc.	1,806,511	$12.4M	0.0%	+1,733,047
Woodson Capital Management, LP	1,558,806	$10.7M	1.8%	−136,194
Readystate Asset Management LP	1,508,736	$10.3M	0.7%	+1,001,482
BloombergSen Inc.	1,351,246	$9.3M	1.0%	No change
GMT Capital Corp	1,286,200	$8.8M	0.5%	+584,600
FIL Ltd	1,250,000	$8.6M	0.0%	+250,000
Zweig-DiMenna Associates LLC	1,154,000	$7.9M	0.7%	−300,500

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataThredup on Wikidata
2
SEC EDGARThredup filings on SEC EDGAR
3
WikipediaThredup on Wikipedia
4
SEC EDGARThredup 10-K for fiscal 2025
5
SEC EDGARThredup filings on SEC EDGAR
6
WikipediaThredup on Wikipedia (revision used)
7
SEC EDGARThredup 10-K for fiscal 2019
8
SEC EDGARThredup 10-K for fiscal 2020
9
SEC EDGARThredup 10-K for fiscal 2022
10
SEC EDGARThredup 10-K for fiscal 2023
11
SEC EDGARThredup 10-Q for fiscal 2025
12
SEC EDGARThredup 10-Q for fiscal 2025
13
SEC EDGARThredup 10-Q for fiscal 2026
14
SEC EDGARThredup 10-Q for fiscal 2025
15
SEC EDGARJames G. Reinhart, Chief executive officer
16
SEC EDGARSean Sobers, Chief financial officer
17
SEC EDGARChristopher Homer, Chief operating officer
18
SEC EDGARKelly Bodnar Battles, Board member
19
SEC EDGARNoam Paranksy, Board member
20
SEC EDGARCoretha M. Rushing, Board member
21
SEC EDGARAmanda Ginsberg, Board member
22
SEC EDGARDaniel J. Nova, Board member
23
SEC EDGARGreg Bettinelli, Board member
24
SEC EDGARIan Friedman, Board member
25
SEC EDGARJack R. Lazar, Board member
26
SEC EDGARMarcie Vu, Board member
27
SEC EDGARNorman S. Matthews, Board member
28
SEC EDGARPatricia Nakache, Board member
29
SEC EDGARPaula Sutter, Board member
30
SEC EDGARTimothy M. Haley, Board member
31
SEC EDGARAlon Rotem, General counsel