Thredup Inc (TDUP)

Thredup Inc Stock (TDUP) dropped by 33.43% from $3.44 to $2.29 in the trading on Tuesday November 7, 2023. The reasons why TDUP stock down today include:

• Q3 financial results: Revenue rose 21% versus a year ago to $82 million but reported a net loss of $18.1 million, only a slight improvement from a loss of $23.7 million a year ago.
• Q4 outlook: Management expects Q4 revenue to fall to between $79 - $81 million with an adjusted EBITDA loss margin of 2% to breakeven. For the full year, it expects revenue of $319.5 - $321.5 million with adjusted loss margin of 5.3% to 4.7%.
• Despite increasing revenue, ThredUp has not achieved the desired profitability levels, and continues to lose money, with an operating cash burn of $14.6 million in the first nine months of the year.