ThredUp soars on Q2 earnings beat and record quarterly revenue

ThredUp surged 8% in after-hours trading Monday after the online resale platform posted stellar Q2 earnings results.

Losses per share came in at $0.04, slightly ahead of the $0.05 loss analysts polled by FactSet were expecting. Revenue came in at a quarterly record of $77.7 million, up 16% from a year ago and well ahead of Street estimates of $73.8 million and the the company’s previous guidance of $72.5 million to $74.5 million.

The stock has soared over 500% in the past 12 months, buoyed largely by growing millennial and Gen Z demand for secondhand apparel and broader retail interest in sustainable fashion.

In an interview with Sherwood News, CEO James Reinhart said the company has benefited from being “laser-focused” on the US market and leveraging AI both under the hood and in customer-facing features.

Prior to the earnings move, ThredUp shares were up 586% year to date.

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