ThredUp's Revenue Was In Line With Estimates. Its Guidance Cut Sent the Stock Down 10%

ThredUp, which runs an online marketplace for secondhand clothing, reported second-quarter 2026 revenue of $90.8 million on August 5, 2026, against a $90.25 million estimate — up 16.9% year over year and essentially in line with what analysts had modeled. The GAAP loss per share was $0.05, a bit wider than the $0.03 loss estimated. Adjusted EBITDA of $4.78 million was roughly in line with the $4.69 million estimate. On the quarter that had already closed, this was an unremarkable, broadly in-line report. The stock fell 10.5% in the fifteen minutes after the release anyway.

The reaction traces to guidance, not the quarter itself. ThredUp guided next-quarter revenue to $88 million, 5.4% below what analysts had estimated, and cut full-year revenue guidance to $346.4 million at the midpoint from a prior $353.7 million — a reduction of roughly 2.1%. For a company whose current-quarter numbers were close to expectations on every major line, a guidance cut is the clearest signal available about how management sees demand trending, and investors treated the forward-looking number as more informative than the quarter that had already closed.

Online resale is a small, still-maturing e-commerce category, and a guidance cut from one of its more visible public names is a signal worth tracking regardless of how in-line any single quarter's revenue came in — the forward number is what tells you whether growth in the category is holding up or slowing.