TDUP - Why ThredUp Stock Plunged 36% Today
2023-11-07 16:10:37 ET
Shares of online retailer ThredUp (NASDAQ: TDUP) were down as much as 36.3% in trading on Tuesday after the company reported third-quarter financial results. Shares are down 33.7% for the day at 3:30 p.m. ET.
Revenue rose 21% versus a year ago to $82 million but reported a net loss of $18.1 million, only a slight improvement from a loss of $23.7 million a year ago.
Management expects fourth-quarter revenue to fall to between $79 million and $81 million with an adjusted EBITDA loss margin of 2% to breakeven. For the full year, it expects revenue of $319.5 million to $321.5 million with adjusted loss margin of 5.3% to 4.7%.
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Why ThredUp Stock Plunged 36% Today