ThredUp Posts Q1 Sales Gain, Lifts Q2 Outlook as Buyer Growth Surges

Overview

• ThredUp reported Q1 2026 revenue of $81.7 million, up 14.6% year over year, with a 79.2% gross margin and 3.4% adjusted EBITDA.
• Active buyers rose about 25% from a year ago, and March set a company record for new shopper acquisition.
• Management said April brought lower conversion and pricing pressure, which they linked to a choosier consumer in a stretch of higher gas prices and inflation.
• The company guided to 16% revenue growth for Q2 2026 and 14% for the full year, and it plans capital spending at about last year’s level.
• Analysts questioned the quality of a TikTok Shop–driven surge in seller supply referenced on the call, and ThredUp said it is tightening supply metrics and authentication and using AI to boost retention.