Thredup Inc. cash flow statement

In fiscal 2025, Thredup Inc.'s operations generated $10.7m of cash; it spent $10.5m on capital projects, leaving free cash flow of $180,000.

Cash flow statement

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

Thredup Inc.: cash flow statement, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash from operations	−10	−19	−35	−52	−23	5	11	14
Depreciation and amortisation	4	6	9	14	14	17	13	14
Stock-based pay	8	7	13	27	30	26	19	20
Capital spending	10	19	20	43	13	7	10	12
Free cash flow	−20	−39	−55	−95	−36	−2	0	2
Free cash flow after stock pay	−27	−46	−68	−122	−65	−28	−19	−19

US$ thousands unless shown otherwise. Fiscal quarters.

Thredup Inc.: cash flow statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Cash from operations	3,347	5,135	5,743	344	6,028	−1,463	4,754	4,450
Depreciation and amortisation	3,500	6,432	3,169	3,200	3,100	3,451	3,306	4,100
Stock-based pay	6,162	6,055	5,520	4,500	4,439	4,544	5,503	5,925
Capital spending	2,147	2,463	1,815	3,279	3,651	1,727	4,111	2,667
Free cash flow	1,200	2,672	3,928	−2,935	2,377	−3,190	643	1,783
Free cash flow after stock pay	−4,962	−3,383	−1,592	−7,435	−2,062	−7,734	−4,860	−4,142

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

Compare with peers

Head to head: LVLU vs TDUP DXLG vs TDUP DLTH vs TDUP

More: Apparel Retail stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Thredup Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Thredup Inc.