ThredUp stock falls more than 11% after mixed quarter, guidance
ThredUp Inc. shares fell more than 11% in the extended session Monday after the secondhand retailer posted mixed quarterly results and guided for lower first-quarter sales. ThredUp said it lost $17.9 million, or 18 cents a share, in the fourth quarter, compared with a loss of $17 million, or $1.33 a share, for the fourth quarter 2020. Revenue rose 68% to $72.9 million, the company said. Analysts polled by FactSet called for a loss of 16 cents a share on sales of $68.9 million. ThredUp said the number of its active buyers rose 36% to 1.7 million. The company guided for first-quarter revenue between $70 million and $72 million and gross margin in a range between 65% and 67%. For the full 2022, it guided for revenue between $330 million and $340 million, and gross margin between 64% and 66%. The analysts surveyed by FactSet expect first-quarter revenue of $77 million and 2022 revenue of $333 million. "In 2022, we expect our continued investment in our infrastructure both domestically and internationally will enable us to keep building the foundation for the future of resale on the internet," Chief Executive James Reinhart said in a statement. ThredUp shares ended the regular trading day up 7.6%.
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