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Thredup Inc. (TDUP) stock

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NASDAQ: TDUP Nasdaq Apparel Retail Next results ~November 4, 2026

C Fundamentals grade

Thredup Inc. is a US-listed company in the apparel retail industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.8

Valuation models combined (3)

Base case. Range ~$1.3–$2.3. Weighted average of 3 models (growth cash-flow model, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Thredup Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 3 selling2 purchases and 38 sales by directors and officers, last 12 monthsInsider trades
  • Funds110 adding, 70 cuttingOf 36 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Thredup files

Where Thredup stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $334m, up 20.4% on a year earlier, about the same pace as a quarter earlier. That growth ranks 1 of 25 among the apparel retail companies we cover. Free-cash-flow margin fell to 0.5% from 1.8% a year earlier. Operating margin widened to -7.1% from -10.5%. The diluted share count is up 9.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 4 of our 7 financial-health checks. Our revenue-to-maturity cash-flow model value is $2.43 a share, against a share price of $2.23.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Thredup Inc.'s trailing-twelve-month revenue grew 20.4% year on year, with a free-cash-flow margin of 0.5%. Where it stands out: gross margin of 79.5% ranks 1 of 26 apparel retail companies we cover. Where it lags: change in share count of 9.2% ranks 26 of 27 apparel retail companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 66.8% while net income grew 60.9%: a 128pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 20.4% over the last 12 months, against a median of 4.7% for apparel retail companies we cover.
  • Margins widening. Operating margin is up 3.4 points on a year ago.

Things to watch

  • Loss-making. Operating margin is -7.1%: costs exceed revenue.
  • Share dilution. Diluted shares rose 9.2% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 84% and a beta of 2.3 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 6.1% ranks 25 of 26 apparel retail companies we cover (median 0.7%).
  • Below peers: free-cash-flow margin. Free-cash-flow margin of 0.5% ranks 22 of 28 apparel retail companies we cover (median 3.0%).
  • Heavily shorted. 14.1% of the shares available to trade are sold short (7.3 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
-$0.04 against an average estimate of -$0.03: missed by 51.4%
Revenue
$91m, up 16.9% on a year earlier
Share reaction
-49.6% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 4, 2026; average EPS estimate -$0.04

Thredup's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.0%
  • 1 week-1.7%
  • 1 month-8.5%
  • This year-67.3%
  • 1 year-76.6%
  • 5 years-90.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$334M
Operating margin
-7.1%
Net margin
-6.6%
EPS (TTM, diluted)
$-0.18

Growth

Revenue growth
+20.4%
Change in growth rate
−0.0 pts
Share count change
+9.2%

Cash

Free cash flow (TTM)
$1.6M
FCF margin
0.5%
Stock pay % of revenue
6.1%

Earnings

Last results
August 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Thredup Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Thredup Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.38 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$1.6 ~$1.1–$2.1 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$1.3 ~$0.9–$3.4 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$2.3 ~$1.8–$2.8 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1.8 ~$1.3–$2.3 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Thredup Inc. with Apparel Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$12.76$1.31$2.25$1.39$6.39$2.09
Market value$984m$131m$236m$156m$778m$265m
+ Net debt (− = net cash)−$49m−$8m−$28m−$10m−$20m−$24m
Enterprise value$935m$123m$208m$146m$757m$241m
Multiples
Price / sales 3.9x0.5x0.9x0.6x2.5x0.8x
Price / earnings ——————
Price / free cash flow ————n/m164.3x
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

47 /100

Moderate moat

How hard Thredup's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 59.7% of total assets over 5 years.

  • Pricing power 15 / 20

    Gross margin has been a median 75.3%, moving by 6.7 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -21.2%; its worst year was -29.0%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 6 years, at a median -13.8% of revenue.

  • Discipline 3 / 20

    The diluted share count rose 268.2% over five years; stock-based pay has been a median 7.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (52 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $88m and EPS of −$0.04 (range −$0.05 to −$0.04) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.17 +2% $347m +12%
Next −$0.12 +26% $383m +10%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +76.8% on 90 days ago. In the last 30 days, 0 analysts raised Thredup Inc.'s forecast and 1 cut it.

Consensus EPS forecast Thredup Inc., last 90 days
−$0.20 −$0.15 −$0.10 −$0.05 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.09 Current fiscal year, 60 days ago: −$0.17 Current fiscal year, 30 days ago: −$0.17 Current fiscal year, 7 days ago: −$0.17 Current fiscal year, Now: −$0.17 −$0.17 Next fiscal year, 90 days ago: −$0.06 Next fiscal year, 60 days ago: −$0.12 Next fiscal year, 30 days ago: −$0.12 Next fiscal year, 7 days ago: −$0.12 Next fiscal year, Now: −$0.12 −$0.12

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.09−$0.06
60 days ago −$0.17−$0.12
30 days ago −$0.17−$0.12
7 days ago −$0.17−$0.12
Now −$0.17−$0.12

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.03 −$0.04 −51.4%
Mar 2026 −$0.06 −$0.05 +10.7%
Dec 2025 −$0.04 −$0.04 −9.5%
Sept 2025 −$0.04 −$0.03 +20.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

7 analysts, Oct 2026
Buy686%
Hold114%
Sell00%

Monthly trend

  1. Oct 2026617
  2. Sep 2026617
  3. Aug 2026617
  4. Jul 2026617

Counts of recommendations published by analysts covering Thredup Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
14.1%
of tradable shares
Days to cover
7.35
at average volume
Short interest, 1 month
−30%
to October 15, 2026
Held by institutions
99%
of shares
Held by insiders
6.0%
of shares
Employees
2,132
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −76.2%

$8.79 on October 31, 2025 to $2.09

ThenNowEffect
Revenue (last 12 months) $278m $334m +20.4%
P/S multiple 3.7x 0.8x −78.4%
Share count 116m 127m −8.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −43.5%

$3.70 on November 3, 2023 to $2.09

ThenNowEffect
Revenue (last 12 months) $298m $334m +12.2%
P/S multiple 1.3x 0.8x −37.3%
Share count 102m 127m −19.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
TDUP−90%+72%−38%+360%−67%
Industry peers (median)−40%+5%+11%+6%−6%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
TDUP25%67%25%67%36%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
TDUP−94%−54%−78%−48%−72%
S&P 500−25%−10%−8%−19%−9%

Worst fall since March 26, 2021: 98% from March 29, 2021 to November 4, 2024. Getting back needed a 5847% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.99 – $8.72
From 52-week high
−76.0%
vs 50-day average
−12.3%
vs 200-day average
−49.4%
Volatility (1 year)
84%
Beta vs S&P 500
2.26

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±30.4%
After a week
7 up, 5 down
typical move ±30.4%
After a month
7 up, 5 down
typical move ±47.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −49.6% −0.4% −50.1% −56.7%
May 4, 2026 +11.8% +0.4% +1.6% +2.0%
March 2, 2026 −21.3% −0.8% −23.6% −32.8%
November 3, 2025 −10.6% −1.0% −11.9% −9.7%
August 4, 2025 +20.8% +1.0% +16.2% +24.7%
May 5, 2025 +48.4% −1.4% +39.6% +73.1%
March 3, 2025 +1.3% −2.9% −1.7% +4.2%
January 14, 2025 +73.8% +2.0% +69.2% +105.4%
November 4, 2024 +51.4% +1.0% +69.4% +198.4%
August 5, 2024 −64.9% −2.0% −64.6% −51.5%
May 6, 2024 +8.3% +1.1% +14.4% +7.2%
March 7, 2024 −2.7% +0.4% +2.2% −2.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Thredup Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Thredup Inc.
$200M $250M $300M $350M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $311.9M Revenue (TTM), FY23 Q4: $258.5M Revenue (TTM), FY24 Q1: $247.1M Revenue (TTM), FY24 Q2: $231.2M Revenue (TTM), FY24 Q3: $210.6M Revenue (TTM), FY24 Q4: $260M Revenue (TTM), FY25 Q1: $266.8M Revenue (TTM), FY25 Q2: $277.7M Revenue (TTM), FY25 Q3: $298.4M Revenue (TTM), FY25 Q4: $310.8M Revenue (TTM), FY26 Q1: $321.2M Revenue (TTM), FY26 Q2: $334.3M $334.3M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $311.9M
FY23 Q4 $258.5M
FY24 Q1 $247.1M
FY24 Q2 $231.2M
FY24 Q3 $210.6M
FY24 Q4 $260M
FY25 Q1 $266.8M
FY25 Q2 $277.7M
FY25 Q3 $298.4M
FY25 Q4 $310.8M
FY26 Q1 $321.2M
FY26 Q2 $334.3M
Revenue growth, TTM YoY Thredup Inc.
-40% -20% 0% 20% 40% 60% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 7.6% Revenue growth, TTM YoY, FY23 Q4: -10.4% Revenue growth, TTM YoY, FY24 Q1: -15.3% Revenue growth, TTM YoY, FY24 Q2: -22.4% Revenue growth, TTM YoY, FY24 Q3: -32.5% Revenue growth, TTM YoY, FY24 Q4: 0.6% Revenue growth, TTM YoY, FY25 Q1: 8.0% Revenue growth, TTM YoY, FY25 Q2: 20.1% Revenue growth, TTM YoY, FY25 Q3: 41.7% Revenue growth, TTM YoY, FY25 Q4: 19.5% Revenue growth, TTM YoY, FY26 Q1: 20.4% Revenue growth, TTM YoY, FY26 Q2: 20.4% 20.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 7.6%
FY23 Q4 -10.4%
FY24 Q1 -15.3%
FY24 Q2 -22.4%
FY24 Q3 -32.5%
FY24 Q4 0.6%
FY25 Q1 8.0%
FY25 Q2 20.1%
FY25 Q3 41.7%
FY25 Q4 19.5%
FY26 Q1 20.4%
FY26 Q2 20.4%
Operating margin (TTM) Thredup Inc.
-30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -23.6% Operating margin (TTM), FY23 Q4: -20.5% Operating margin (TTM), FY24 Q1: -18.3% Operating margin (TTM), FY24 Q2: -15.6% Operating margin (TTM), FY24 Q3: -13.5% Operating margin (TTM), FY24 Q4: -15.6% Operating margin (TTM), FY25 Q1: -12.6% Operating margin (TTM), FY25 Q2: -10.5% Operating margin (TTM), FY25 Q3: -7.8% Operating margin (TTM), FY25 Q4: -7.0% Operating margin (TTM), FY26 Q1: -7.1% Operating margin (TTM), FY26 Q2: -7.1% -7.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -23.6%
FY23 Q4 -20.5%
FY24 Q1 -18.3%
FY24 Q2 -15.6%
FY24 Q3 -13.5%
FY24 Q4 -15.6%
FY25 Q1 -12.6%
FY25 Q2 -10.5%
FY25 Q3 -7.8%
FY25 Q4 -7.0%
FY26 Q1 -7.1%
FY26 Q2 -7.1%
FCF margin (TTM) Thredup Inc.
-20% -15% -10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -15.2% FCF margin (TTM), FY23 Q4: -13.8% FCF margin (TTM), FY24 Q1: -10.2% FCF margin (TTM), FY24 Q2: -6.1% FCF margin (TTM), FY24 Q3: -5.5% FCF margin (TTM), FY24 Q4: -0.6% FCF margin (TTM), FY25 Q1: 0.7% FCF margin (TTM), FY25 Q2: 1.8% FCF margin (TTM), FY25 Q3: 2.0% FCF margin (TTM), FY25 Q4: 0.1% FCF margin (TTM), FY26 Q1: -1.0% FCF margin (TTM), FY26 Q2: 0.5% 0.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -15.2%
FY23 Q4 -13.8%
FY24 Q1 -10.2%
FY24 Q2 -6.1%
FY24 Q3 -5.5%
FY24 Q4 -0.6%
FY25 Q1 0.7%
FY25 Q2 1.8%
FY25 Q3 2.0%
FY25 Q4 0.1%
FY26 Q1 -1.0%
FY26 Q2 0.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 164 186 252 288 259 260 311 334
Gross profit 113 128 178 192 198 207 247 266
EBITDA −33 −41 −53 −75 −39 −23 −9 −10
Operating income −37 −47 −62 −89 −53 −41 −22 −24
Net income −38 −48 −63 −92 −71 −77 −20 −22
Diluted EPS −$3.72 −$4.14 −$0.82 −$0.92 −$0.68 −$0.69 −$0.17 −$0.18
Growth (year on year)
Revenue — +13.6% +35.4% +14.5% −10.4% +0.6% +19.5% +20.4%
Margins
Gross margin 68.7% 68.9% 70.7% 66.7% 76.8% 79.7% 79.4% 79.5%
EBITDA margin −19.9% −22.0% −21.1% −26.2% −15.0% −9.0% −2.8% −2.9%
Operating margin −22.5% −25.0% −24.8% −31.0% −20.5% −15.6% −7.0% −7.1%
Net margin −23.3% −25.7% −25.1% −32.0% −27.6% −29.6% −6.5% −6.6%
Free-cash-flow margin −12.0% −20.7% −21.8% −33.1% −13.8% −0.6% 0.1% 0.5%
Cash flow
Cash from operations −10 −19 −35 −52 −23 5 11 14
Capital spending 10 19 20 43 13 7 10 12
Free cash flow −20 −39 −55 −95 −36 −2 0 2
Stock-based pay 8 7 13 27 30 26 19 20
Free cash flow after stock pay −27 −46 −68 −122 −65 −28 −19 −19
Balance sheet
Cash 88 64 85 38 54 32 39 42
Total debt 0 34 36 30 26 22 18 18
Net debt (negative = net cash) −88 −30 −49 −8 −28 −10 −20 −24
Diluted shares 10m 12m 77m 100m 105m 112m 122m 127m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · June 30, 2026
What it owns · $170m
Short-term assets $61mLonger-term assets $109m
What it owes, and who funded it · $170m
Short-term liabilities $62mLonger-term liabilities $48mShareholders' equity $61m
  • Short-term assets cover short-term liabilities $61m of assets due within a year against $62m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $61m short-term assets against $48m of longer-dated liabilities.
  • More cash than debt $42m of cash against $18m of debt.
  • Debt below 40% of shareholders' equity Debt is 29% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 13% to 29% over five years.
  • A year's operating cash flow covers at least 20% of debt $14m of operating cash flow against $18m of debt.
  • Operating profit covers interest at least five times over Operating income of −$24m against $2m of interest.

From Thredup Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+9.2%
year over year
Sales & admin spending
18.2%
of revenue

Competitors: side by side with peers

Closest by revenue in apparel retail
Last 12 months unless stated TDUP LVLU DXLG DLTH TLYS JILL Median
Revenue, last 12 months $334m $262m $429m $551m $583m $588m $1.1bn
Revenue growth, last 12 months 20.4% −10.4% −4.2% −8.6% 6.1% −2.2% 4.2%
Revenue growth, 3-year average 3.9% −12.7% −7.3% −5.5% −3.2% −1.1% 0.9%
Revenue growth, latest quarter 16.9% −16.8% −3.4% −7.8% 8.1% 0.5% 4.4%
Gross margin 79.5% 45.1% 43.9% 58.3% 32.3% 70.0% 40.1%
Operating margin −7.1% −2.5% −4.5% 1.7% 0.1% 8.1% 2.0%
Operating margin, 3-year average −11.1% −9.2% −0.6% −2.2% −4.6% 10.6% 0.2%
Net margin −6.6% −3.2% −8.8% 1.1% 0.3% 4.6% 1.5%
Cash from operations / revenue 4.1% 0.7% 0.3% 11.6% 2.9% 11.1% 4.9%
Free-cash-flow margin 0.5% 0.6% −2.9% 10.4% 1.9% 8.3% 2.9%
Free-cash-flow margin, 3-year average −1.3% 1.6% −1.2% 1.8% −2.6% 7.7% 1.7%
Stock pay / revenue 6.1% 1.2% 0.2% 0.5% 0.4% 1.0% 0.7%
Change in share count 9.2% — −1.6% 4.3% 0.7% −1.7% −0.3%

Median of all 28 companies we cover in apparel retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

28 apparel retail companies
Measure Company Peer median Rank
Revenue growth Growth 20.4% 4.7% 2 of 28
Change in growth rate Growth -0.0pp -0.2pp 13 of 28
Gross margin Profitability 79.5% 40.5% 1 of 26
Operating margin Profitability -7.1% 1.9% 23 of 25
Net margin Profitability -6.6% 1.7% 25 of 28
Free-cash-flow margin Cash generation 0.5% 3.0% 22 of 28
Stock pay as % of revenue Cash generation 6.1% 0.7% 25 of 26
Long-term debt as % of assets Balance sheet 10.4% 11.6% 6 of 13
Change in share count Balance sheet 9.2% -0.3% 26 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$738M
Institutions reporting
180
Shares held vs prior quarter
▲ 5.3%
Positions opened / closed
30 / 24

Top buyers and sellers, Q2 2026: 110 institutions bought and 70 sold ; the biggest buyer was AQR Capital Management LLC (+4.1M shares) and the biggest seller Qube Research & Technologies Ltd (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $75.1M 11.0M 10.2% ▲ 33.0%
Needham Investment Management LLC $69.7M 10.2M 9.4% ▲ 9.7%
Capital World Investors $61.2M 8.9M 8.3% ▲ 2.7%
AQR Capital Management LLC $35.3M 5.2M 4.8% ▲ 373.4%
Vanguard Capital Management LLC $30.7M 4.5M 4.2% ▲ 2.6%
Gilder Gagnon Howe & Co LLC $28.4M 4.1M 3.9% ▲ 74.6%
Divisadero Street Capital Management, LP $24.9M 3.6M 3.4% ▲ 265.0%
Marshall Wace, LLP $24.1M 3.5M 3.3% ▼ 28.3%
Arrowstreet Capital, Limited Partnership $23M 3.4M 3.1% ▲ 13.1%
State Street Corp $22.1M 3.2M 3.0% ▲ 4.1%
Goldman Sachs Group Inc $20.9M 3.1M 2.8% ▲ 46.7%
Geode Capital Management, LLC $18.4M 2.7M 2.5% ▲ 14.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Thredup Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $571,676 2 trades by 2 insiders, last 12 months Insider sales History → $10.2M 38 trades by 3 insiders · 0% under pre-set plans
Net ▼ $9.7M net selling
Insider Date Trade Shares Price Value
Sobers Sean Chief Financial Officer September 2, 2026 Sell 13,368 $2.58 $34,489
Sobers Sean Chief Financial Officer September 2, 2026 Sell 12,218 $2.58 $31,522
Sobers Sean Chief Financial Officer September 2, 2026 Sell 18,973 $2.58 $48,950
Reinhart James G. Chief Executive Officer September 2, 2026 Sell 86,223 $2.58 $222,455
Reinhart James G. Chief Executive Officer September 2, 2026 Sell 27,068 $2.58 $69,835
Reinhart James G. Chief Executive Officer September 2, 2026 Sell 57,771 $2.58 $149,049
Homer Christopher Chief Operating Officer September 2, 2026 Sell 26,632 $2.58 $68,711
Homer Christopher Chief Operating Officer September 2, 2026 Sell 19,463 $2.58 $50,215
Homer Christopher Chief Operating Officer September 2, 2026 Sell 14,135 $2.58 $36,468
Sobers Sean Chief Financial Officer June 2, 2026 Sell 19,397 $4.43 $85,929
Sobers Sean Chief Financial Officer June 2, 2026 Sell 13,667 $4.43 $60,545
Sobers Sean Chief Financial Officer June 2, 2026 Sell 12,490 $4.43 $55,331

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 4, 2026
  • March 2, 2026
  • November 3, 2025
  • August 4, 2025
  • May 5, 2025

Recent SEC filings

Data status

When each part of this page on Thredup Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Thredup Inc. in brief

What does Thredup Inc. do?
Thredup Inc. is a US-listed company in the apparel retail industry. Its financial year ends in December.
What is Thredup Inc.'s stock ticker?
Thredup Inc. trades under the ticker TDUP on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Thredup Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Thredup Inc. reported revenue of $334M, 20.4% higher than a year earlier, according to its SEC filings.
What is Thredup Inc.'s free cash flow?
Thredup Inc.'s free-cash-flow margin is 0.5% of revenue over the trailing twelve months, ranking 22 of the 28 apparel retail companies we cover.
Who are Thredup Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Needham Investment Management LLC and Capital World Investors. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Thredup Inc.'s market cap?
On November 2, 2026, Thredup Inc.'s market capitalisation was about $265M and net debt of -$24.2M. Market figures come from third-party market data and may be delayed.
How much debt does Thredup Inc. have?
Thredup Inc.'s debt-to-equity ratio is 29.2%, from its latest balance sheet (13.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Thredup Inc.'s competitors?
In our Apparel Retail peer group, the companies closest to Thredup Inc. are Lulu's Fashion Lounge Holdings, Inc., Destination XL Group, Inc., Duluth Holdings Inc., Tilly's, Inc. and J.jill, Inc. The side-by-side comparison below sets their revenue, margins and growth against Thredup Inc.'s.
Are insiders buying or selling Thredup Inc. stock?
Over the last 12 months, Thredup Inc.'s directors and officers reported 2 open-market purchases and 38 sales on Form 4. The insider trading page charts every trade.
When is Thredup Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Thredup Inc. announces its own schedule.