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EX-99.1

2 exhibit991earningsreleaseq.htm

EX-99.1

Document

Exhibit 99.1

ThredUp Announces First Quarter 2026 Results

•Quarterly revenue of $81.7 million, representing an increase of 15% year-over-year

•Quarterly gross margin of 79.2% and an increase in gross profit of 15% year-over-year

•Record Active Buyers of 1.71 million, representing an increase of 25% year-over-year

•Ended the quarter with cash and cash equivalents, restricted cash, and marketable securities of $54.4 million, up 1.3 million from the previous quarter

•Issued a revised full year 2026 financial outlook, raising expectations for Revenue, Gross Margin and Adjusted EBITDA margin

Oakland, CA — May 4, 2026 — ThredUp Inc. (Nasdaq: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, announced today its financial results for the first quarter ended March 31, 2026 and updated full year 2026 financial outlook.

“We are proud to deliver Q1 out-performance, including a record month for new buyer acquisition,” said ThredUp CEO and co-founder James Reinhart. “As we look ahead, we remain focused on executing our growth plan amidst an ever-changing consumer environment, and building a marketplace that delivers clear value to buyers and convenience for sellers.”

First Quarter 2026 Financial Highlights

•Revenue totaled $81.7 million, an increase of 15% year-over-year.

•Gross Profit and Gross Margin: Gross profit totaled $64.7 million, an increase of 15% year-over-year. Gross margin was 79.2% as compared to 79.1% in the first quarter last year.

•Net loss was $6.5 million, or a negative 7.9% of revenue, for the first quarter 2026, compared to a loss of $5.2 million, or a negative 7.3% of revenue, for the first quarter last year.

•Adjusted EBITDA1 was $2.7 million, or 3.4% of revenue, for the first quarter 2026, compared to $3.8 million, or 5.3% of revenue, for the first quarter last year.

•Active Buyers and Orders: Active Buyers of 1.71 million and Orders of 1.64 million for the first quarter 2026, representing increases of 25% and 19%, respectively, over the first quarter last year.

2

Financial Outlook1

For the second quarter 2026, ThredUp expects:

•Revenue in the range of $89.0 million to $91.0 million, +16% year-over-year at the midpoint

•Gross margin in the range of 78.5% to 79.5%

•Adjusted EBITDA margin of approximately 5.2%

For the full fiscal year 2026, ThredUp expects:

•Revenue in the range of $351.2 million to $356.2 million, +14% year-over-year at the midpoint

•Gross margin in the range of 78.5% to 79.5%

•Adjusted EBITDA margin of approximately 6.1%

ThredUp is not providing a quantitative reconciliation of forward-looking guidance of the Non-GAAP measure Adjusted EBITDA margin to net loss margin, the most directly comparable financial measures under GAAP because certain items are out of ThredUp’s control or cannot be reasonably predicted. We calculate Adjusted EBITDA as net loss adjusted to exclude, where applicable in a given period, stock-based compensation expense, depreciation and amortization, interest expense, provision for income taxes, severance and other reorganization costs, and gains related to non-marketable equity investment. Adjusted EBITDA margin represents Adjusted EBITDA divided by Revenue for the same period. Accordingly, a reconciliation for Adjusted EBITDA in order to calculate forward-looking Adjusted EBITDA margin is not available without unreasonable effort. However, for the second quarter of 2026 and full year 2026, Depreciation and amortization is expected to be $3.4 million and $13.4 million, respectively. In addition, for the second quarter of 2026 and full year 2026, Stock-based compensation expense is expected to be $4.5 million and $19.2 million, respectively. These items are uncertain, depend on various factors, and could result in projected net loss being materially greater than is indicated by the currently estimated Adjusted EBITDA margin.

ThredUp is not providing a quantitative reconciliation for free cash flow estimates on a forward-looking basis because it is unable, without making unreasonable efforts, to provide a meaningful or reasonably accurate calculation or estimation of Net cash provided by operating activities and certain reconciling items on a forward-looking basis, which could be significant to the Company's results.

Conference Call and Webcast Information

•The live and archived webcast and all related earnings materials will be available at ThredUp’s investor relations website: ir.thredup.com/news-events/events-and-presentations.

1 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. See “Reconciliation of GAAP to Non-GAAP Financial Measures” for a detailed reconciliation of these non-GAAP measures to the most directly comparable GAAP measures and “Non-GAAP Financial Measures and Other Operating and Business Metrics” for a discussion of why we believe these non-GAAP measures are useful.

3

ThredUp Inc.

Condens

tdup-20260302FALSE000148477800014847782026-03-022026-03-02

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 Form 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 2, 2026

ThredUp Inc. (Exact name of registrant as specified in its charter)

Delaware001-4024926-4009181 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

969 Broadway, Suite 200 Oakland, California 94607 (Address of principal executive offices)(Zip Code)

(415) 402-5202 (Registrant’s telephone number, including area code) Not applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Class A Common Stock, par value $0.0001 per shareTDUPThe Nasdaq Stock Market LLC Long-Term Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company    ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

Item 2.02.    Results of Operations and Financial Condition On March 2, 2026, ThredUp Inc. (the “Company”) issued a press release announcing its financial results for the quarter and full year ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1. In addition, a copy of the supplemental financial information is attached hereto as Exhibit 99.2. The press release and supplemental financial information are incorporated herein by reference. The information in this Current Report on Form 8-K and the exhibits attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01.    Financial Statements and Exhibits (d)Exhibits.

Exhibit NumberDescription 99.1Press Release dated March 2, 2026

99.2Supplemental Financial Information dated March 2, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THREDUP INC.

By:/s/ SEAN SOBERS Sean Sobers Chief Financial Officer (Principal Financial and Accounting Officer)

Date: March 2, 2026 3