2023-03-06 16:18:31 ET
ThredUp ( NASDAQ: TDUP ) reported revenue fell 2% in Q4 to $71.3M.
The number of active buyers fell 2% during the quarter to 1.7M and orders were off 8% to 1.5M.
Gross margin was 63.1% as compared to 66.1% in the fourth quarter last year.
ThredUp's adjusted EBITDA loss narrowed to $5.8M vs. $10.5M a year ago.
The inventory balance at the end of the quarter was $17.5M vs. $9.8M a year ago.
Looking ahead, ThredUp ( TDUP ) guided for full-year revenue of $310M to $320M vs. $302M consensus and gross margin in the range of 66.0% to 68.0%. The retailer sees and adjusted EBITDA loss margin in the range of 8.0% to 6.0%. "By investing in growth and rigorously managing expenses, we believe we're well positioned to capture an apparel market recovery as the consumer continues to seek value in 2023," noted CEO James Reinhart.
The Seeking Alpha Quant Rating on ThredUp is flashing Sell.
Shares of ThredUp moved up 3.05% on very light postmarket trading as of 4:17 p.m.
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ThredUp gains after setting revenue guidance ahead of expectations