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2.07
0.00%
+0.00
After Hours:
2.03
-0.04
-1.93%
Why is ThredUp Inc (TDUP) Stock down?
We've noticed a 7.51% decline in ThredUp Inc (TDUP) stock during the 2024-04-30 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
07 Nov, 2023:
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.
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