share_log

Earnings Call Summary | ThredUp(TDUP.US) Q1 2024 Earnings Conference

moomoo AI ·  May 7 04:59  · Conference Call

The following is a summary of the ThredUp Inc. (TDUP) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • ThredUp reported a Q1 revenue of $79.6 million, a year-over-year increase of 5%.

  • Consolidated gross margin was 69.5%, signifying an 8% gross profit increase over the previous year.

  • The number of active buyers and orders grew 4% and 9% year-over-year respectively.

  • Despite an adjusted EBITDA with a negative $736,000, ThredUp projects a positive outcome in Q2 and expects free cash flow on a full-year basis in 2024.

Business Progress:

  • ThredUp reduced headcount and restructured several business areas to focus on AI product development, streamlining distribution centers, and enhancing marketing efforts.

  • They launched a new AI search experience and developed two AI tools for customers' thrifting needs.

  • ThredUp has experienced significant progress in Europe, recording new bag requests and returns weekly.

  • ThredUp managed to expand its client list by eight brands in Q1, and now offers ThredUp co-branded cleanout kits in 800 retail locations across the country.

  • Future plans revolve around AI product development and heightening marketing strategies.

More details: ThredUp IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment