ThredUp reports Q3 2026 results

Item 2.02. Results of Operations and Financial Condition

On November 4, 2026, ThredUp Inc. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2026.¹ A copy of the press release is attached hereto as Exhibit 99.1.^{2 2}In addition, a copy of the supplemental financial information is attached hereto as Exhibit 99.2.² 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 1934³, 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) Exhibi t s.

Exhibit Number Description

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

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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 SOBERS⁴

Sean Sobers

Chief Financial Officer⁴

(Principal Financial and Accounting Officer)

Date: November 4, 2026

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ThredUp Announces Third Quarter 2026 Results

• Quarterly revenue of $88.2 million, representing an increase of 7% year-over-year

• Quarterly gross margin of 78.2% and an increase in gross profit of 6% year-over-year

• Record Active Buyers of 1.82 million, representing an increase of 16% year-over-year

• Ended the quarter with cash and cash equivalents, restricted cash, and marketable securities of $57.6 million¹⁰, up $0.2 million from the previous quarter

Oakland, CA — November 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 third quarter ended September 30, 2026, and updated its financial outlook for the fourth quarter and full year 2026.

"We're proud to report a record quarter for active buyers, orders and items sold, delivering clear value for our buyers in Q3," said ThredUp CEO and co-founder James Reinhart. "Even as we navigate a highly competitive environment, we remain focused on innovating across the product experience to compound our competitive advantages as a managed marketplace."

Third Quarter 2026 Financial Highlights

• Revenue totaled $88.2 million, an increase of 7% year-over-year.⁵

• Gross Profit and Gross Margin: Gross profit totaled $69.0 million, an increase of 6% year-over-year.⁵ Gross margin was 78.2% as compared to 79.4% in the third quarter last year.⁶

• Net loss was $5.5 million, or a negative 6.2% of revenue, for the third quarter 2026, compared to a loss of $4.2 million⁷, or a negative 5.2% of revenue, for the third quarter last year.

• Adjusted EBITDA 1 was $3.5 million, or 4.0% of revenue, for the third quarter 2026, compared to $3.8 million, or 4.6% of revenue, for the third quarter last year.⁸

• Active Buyers and Orders: Active Buyers of 1.82 million and Orders of 1.89 million for the third quarter 2026, representing increases of 16% and 17%, respectively⁹, over the third quarter last year.

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Financial Outlook 1

For the fourth quarter 2026, ThredUp expects:

• Revenue in the range of $77.0 million to $79.0 million, 2% year-over-year decline at the midpoint¹¹, and an 8% two-year average growth rate

• Gross margin in the range of 76.5% to 77.5%¹¹

• Adjusted EBITDA margin in the range of (4.0)% to (2.0)%

For the full fiscal year 2026, ThredUp expects:

• Revenue in the range of $337.7 million to $339.7 million, 9% year-over-year growth at the midpoint¹², and a 14% two-year average growth rate

• Gross margin in the range of 78.5% to 78.7%

• Adjusted EBITDA margin in the range of 2.4% to 2.8%¹²

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, legal settlement and fees, 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 fourth quarter and full year 2026, Depreciation and amortization is expected to be $3.3 million and $14.0 million, respectively. In addition, for the fourth quarter and full year 2026, Stock-based compensation expense is expected to be $6.0 million and $22.3 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.

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ThredUp Inc.

Condensed Consolidated Balance Sheets (unaudited)

September 30,

2026 December 31,

2025 (in thousands)

ASSETS

Current assets:

Operating lease right-of-use assets 23,988 25,376

Property and equipment,