The stock of ThredUp Inc (TDUP) closed the regular trading session at $7.55, gaining 7.55% from the previous trading session. On the last check, the stock of TDUP nosedived in the after-market, losing 11.26% to $6.69. The company released the fiscal performance for Q4 and FY21. TDUP also filed for form 8-K with the SEC on 7 March 2022. Form 8-K was filed to release the fiscal performance.
thredUP is the world’s biggest fashion resale stage, rousing the new age to think secondhand initially. The organization has gone through 10 years of reexamining resale, constructing a commercial center and foundation currently ready to drive the $50B resale economy. A large number of purchasers use thredUP as the simplest method for selling their garments and shop more than 35,000 brands at up to 90% off on the web, in stores, or through “try before-you-purchase”. Currently, the company has a market capitalization of $736.05 million with 97.49 million pending shares. TDUP has its headquarter in Oakland, California, United States of America (USA).
TDUP Financials
thredUP released the fiscal performance for Q4 and FY2021 on 7 March 2022. The highlights of the fiscal performance are
- The sales in Q4 of FY2021 expanded by 67.7% to $72.8 million from $43.4 million in the same period last year. Also, the sales for FY2021 grew by 35.3% to $251.7 million versus $186.01 million in FY2020.
- TDUP has a profit of $48.1 million in Q4 of FY2021 versus $29.7 million in Q4 of FY2020. This marks an increase of 62%. Also, the profit for FY2021 expanded by 39% to $178.1 million against $128.1 million in FY2020.
- The company had a loss of $17.9 million in Q4 of FY21 against $17.0 million in Q4 of FY20. Also, the loss in FY2021 grew by 31.9% to $63.1 million compared to $47.8 million in FY2020.
- The loss of $0.18 and $0.82 per stock in Q4 and FY2021, respectively.
The CEO of ThredUP (TDUP), James Reinhart, commented that they finished their first year as a public organization with one more quarter of solid fiscal performance. He further added that they anticipate that their investment along with the frame will empower them for future sales over the Internet, in 2022.
