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THREDUP thredUP Announces Third Quarter 2021 Results November 8 , 2021 • All - time quarterly revenue high of $ 63.3 million , representing 35 % growth year - over - year • Third quarter gross margin of 73 % and gross profit growth of 41 % year - over - year • Record number of Active Buyers and Orders • Announced the newest distribution center in Texas , expected to more than double our current capacity when fully operational • Established new Resale - as - a - Service® ( RaaSⓇ ) programs with adidas , Crocs , and Michael Stars OAKLAND , Calif . , Nov. 08 , 2021 ( GLOBE NEWSWIRE ) -- Thred Up Inc. ( Nasdaq : TDUP ) , one of the largest online resale platforms for women's and kids ' apparel , shoes , and accessories , announced today its financial results for the third quarter ended September 30 , 2021 . " Third - quarter marked another quarter of exceptional financial performance , with our platform demonstrating strong resilience amidst headwinds posed by the pandemic , " said James Reinhart , CEO and co - founder at thredUP . " Supply continues to appear endless , demand for secondhand is increasing with more first - time buyers trying thredUP , and we're doubling down on infrastructure investments so we can continue providing our buyers with a vast and ever - changing selection of great brands at great prices . " Third Quarter 2021 Financial Highlights • Revenue : Third quarter total revenue of $ 63.3 million , an increase of 35 % year - over - year . • Gross Profit and Gross Margin : Gross profit totaled $ 46.1 million representing growth of 41 % year - over - year . Gross margin expanded to 73 % from 70 % in the comparable quarter last year . • Net Loss : The GAAP net loss was $ 14.7 million , or 23 % of revenue , for the third quarter 2021 , compared to a GAAP net loss of $ 11.0 million , or 23 % of revenue , for the third quarter 2020 . • Adjusted EBITDA and EBITDA Margin : The Adjusted EBITDA loss was $ 7.8 million , or 12 % of revenue , for the third quarter 2021 , compared to the Adjusted EBITDA loss of $ 7.5 million , or 16 % of revenue , for the third quarter 2020 . • Active Buyers and Orders : Active Buyers of 1.4 million and Orders of 1.3 million growing 14 % and 28 % , respectively , over the comparable quarter last year . • New Distribution Center outside Dallas , Texas : This four - level facility , which will be thredUP's largest and most - automated distribution center to - date , is expected to boost our total distribution network capacity to 16.5 million items when fully operational , more than doubling our current capacity . Recent Business Highlights • Closed the Remix Acquisition : Acquisition closed in October ( Q4 ) , kickstarting our international expansion . • Resale - as - a - Service® ( RaaS® ) : thredUP announced new RaaS programs with adidas , Crocs , and Michael Stars and expanded its ongoing partnership with Madewell by launching " A Circular Store " in Brooklyn , NY . • Strategic Investment in Latin America : thredUP completed a strategic investment in Vopero , a resale marketplace serving Latin America . Remix Acquisition Closes thred UP closed the acquisition of Remix in early October . The transaction marks thredUP's official entry into Europe . CEO and co - founder James Reinhart further commented , " thredUP is thrilled to bring our proprietary resale infrastructure and technology to Remix . We're starting to integrate our proprietary software and systems into their existing operating platform and believe this will elevate the resale experience for buyers and sellers in Central and Eastern Europe . " Financial Outlook Guidance for the fourth quarter 2021 includes estimates for the Remix acquisition , which closed on October 7 . For the fourth quarter 2021 , thredUP expects : • Revenue in the range of $ 69 million to $ 71 million • Gross margin in the range of 65 % to 67 % • Adjusted EBITDA margin loss in the range of 17.0 % to 15.0 % For the full fiscal year 2021 , thredUP expects :