What's Going On With ThredUp Shares Today?

ThredUp Inc. TDUP shares are trading higher after the company reported better-than-expected Q4 sales and issued strong Q1 guidance.

What Happened: On Monday, ThredUp reported its Q4 and Full year results for the period ended Dec. 31, 2022. The company also provided guidance for 2023.

The Details: The company reported a quarterly loss of $0.19 per share compared to the analyst consensus estimate of a loss of $0.20. The company reported quarterly sales of $71.32 million compared to the analyst estimate of $63.03 million.

In terms of guidance, ThredUp expects Q1 sales in the range of $71 million to $73 million versus the analyst estimate of $69.62 million. The company also expects a gross margin in the range of 66.0%-68.0% and an adjusted EBITDA loss margin in the range of 10%-12%.

"We are proud to deliver strong Q4 results in what continues to be a highly competitive environment," said thredUP CEO and co-founder James Reinhart. "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."

ThredUp Inc is an online resale platform for women and kids apparel, shoes, and accessories.

According to data from Benzinga Pro, ThredUp shares were up 54.6%, trading at $2.50 at the time of publication. The stock has a 52-week high of $8.99 and a 52-week low of $0.73.

Photo: II.studio via Shutterstock

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