ThredUp Q3 results

ThredUp introduced on Tuesday gross sales for the third quarter surged 34 % to $82.2 million, with the U.S. resale platform attributing the rise to a elevate in buyer numbers and order development.

The Oakland, California-based firm mentioned lively purchaser numbers rose 26 % to 1.57 million, whereas orders skyrocketed 37 % to 1.61 million for the third quarter ending September.

Net revenue fell to $583,000 through the quarter, in comparison with $739,000 within the prior-year interval.

​“In Q3, we are proud to have delivered our fourth consecutive quarter of accelerating revenue growth, driven by exceptional new buyer acquisition and order growth,” mentioned ThredUp CEO and co-founder, James Reinhart.

“This quarter, we launched a fully rebranded ThredUp experience, with new products and features that create a more personalized and engaging way to buy and sell secondhand. These advancements are enabled by years of investment in our data and technology infrastructure, positioning us to innovate faster and strengthen our competitive moat in the growing resale market.”

Looking forward, ThredUp expects full-year income to be within the vary of $307 million to $309 million, up 18 % year-over-year on the midpoint.

Earlier this 12 months, ThredUp in late September unveiled a full rebrand designed to strengthen its place as a pacesetter within the now-mainstream secondhand market.