thredUP, Inc. Class A (TDUP)

ThredUP's stock has experienced volatility, with a year-to-date decline of over 40% in 2026. Key events include the announcement of Q3 2025 results in November 2025, the appointment of Kelly Bodnar Battles to the Board of Directors in November 2025, and the announcement of Q4 and full year 2025 results in March 2026, which led to a stock drop despite revenue growth. The CEO exercised options, and a director increased their stake in March 2026. ThredUP released its 14th Annual Resale Report in April 2026, and TD Cowen initiated coverage with a "Buy" rating and a $5.00 price target in April 2026.

ThredUP experiences demand seasonality, with revenue typically accelerating from Q1 to Q3, followed by a seasonal decline in Q4. Management anticipates that Q1 will be the smallest quarter in terms of revenue and EBITDA, with growth accelerating from Q2 onwards.

thredUP operates as an online resale platform for secondhand apparel, shoes, and accessories, functioning within the Retail Trade sector, specifically Internet Retail and Apparel Retail. Its business model is based on a proprietary platform that manages the buying and selling of pre-owned fashion items, offering discounts of up to 90% off estimated retail prices. The platform has processed over 200 million unique secondhand items from approximately 60,000 brands across about 100 categories. ThredUP also provides a Resale-as-a-Service (RaaS) to other fashion brands and retailers. The company's mission is to promote a circular fashion system by encouraging consumers to think secondhand first.

ThredUP's primary operations are in the United States, where the majority of its revenue is generated and is headquartered in Oakland, California. ThredUP also has distribution centers in Europe.

ThredUP has reinforced its brand reputation as a leader in the online resale market and a champion of sustainable fashion. The company publishes an annual Resale Report, highlighting the growth of the secondhand market. ThredUP has been investing in AI to enhance customer experience. The company emphasizes the environmental benefits of keeping clothing in use longer. In 2025, thredUP reported a record 1.7 million active buyers, a 30% increase over the prior year.

ThredUP's ownership is distributed among institutional investors (61.83%), insiders (5.54%), and public/individual investors (32.62%). Major institutional owners include Capital World Investors, BlackRock, Inc., and Vanguard Group Inc. The company's co-founder and CEO, James Reinhart, maintains a direct stake of 4.1%.