# ThredUp Inc. (TDUP) · Edgar & Edgarette company card

> ThredUp (TDUP) grew revenue 19.5% in FY2025 to $311 million, operating margin -7.0% against a 0.3% median for catalog & mail-order houses, equity 35.4% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1484778 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/TDUP) · [JSON](https://www.pops4.com/boards/company/TDUP.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $311M |
| Revenue growth, 1 year | 19.5% |
| Revenue growth per year | 5.4% |
| Operating margin | -7.0% (prior year -15.6%) |
| Net margin | -6.5% |
| Operating cash flow | — |
| Capital spending | $10M |
| Free cash flow | — |
| Cash | $39M |
| Long-term debt | $18M |
| Total assets | $167M |
| Total equity | $59M |
| Equity ÷ assets | 35.4% |
| Return on equity | -34.1% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -11.75 (distress zone)
- Piotroski F: 3 of 9 (middling)
- Health Harbor boat: Weathered boat · two warning signs · slow and jumpy: growing slower than its size class, with revenue that swings more; operating loss: a margin of -7.0% in FY2025

## Edgarette's reading

Exposure: revenue $310.8M (FY2025), total debt $18.2M. Experience: revenue up 19.5% on the year, up 5.4% a year over 4 years; operating margin -7.0%, up from -15.6%. Soundness: equity 35.4% of assets, return on equity -34.1%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $279.3M and $410.2M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $253.5M to $453.9M. A statistical range, not company guidance. Against peers (24 filers, $50M+ revenue, retail-catalog & mail-order houses): operating margin -7.0% against a 0.3% median; growth 19.5% against 4.4%.

Range logged 2026-09-27, receipt 634144e6092ae05e, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 1, latest 2025-11-17 ([filing](https://www.sec.gov/Archives/edgar/data/1484778/000162828025052594/0001628280-25-052594-index.htm))

## Recent filings

- 10-Q · filed 2026-11-04 · [filing](https://www.sec.gov/Archives/edgar/data/1484778/000148477826000033/0001484778-26-000033-index.htm)
- 8-K · filed 2026-11-04 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1484778/000148477826000031/0001484778-26-000031-index.htm)
- 10-Q · filed 2026-08-05 · [filing](https://www.sec.gov/Archives/edgar/data/1484778/000148477826000025/0001484778-26-000025-index.htm)
- 8-K · filed 2026-08-05 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1484778/000148477826000024/0001484778-26-000024-index.htm)
- 8-K · filed 2026-05-21 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1484778/000162828026036985/0001628280-26-036985-index.htm)
- 10-Q · filed 2026-05-04 · [filing](https://www.sec.gov/Archives/edgar/data/1484778/000148477826000016/0001484778-26-000016-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001484778.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1484778

## Cite

POPS4, Edgar & Edgarette: ThredUp Inc. (TDUP) company card, from the company's own SEC filings, accessed 2026-11-12, https://www.pops4.com/boards/company/TDUP. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.