By Sabela Ojea

ThredUp logged revenue growth in the fourth quarter as it refocuses its efforts toward its home market.

The second-hand clothing marketplace on Monday posted a net loss of $21.7 million, or 19 cents a share, compared with a loss of $14.6 million, or 14 cents a share, for the same period a year earlier.

Quarterly revenue rose 9.5% to $67.3 million, coming ahead of management expectations of $66.7 million to $67.2 million. Wall Street expected revenue of $70.1 million, according to FactSet.

Overall, ThredUp ended the quarter with 1.3 million active buyers, down from 1.6 million as of Sept. 30, and orders of 1.2 million, below the around 1.6 million orders the prior quarter.

"We are proud to have closed out 2024 with a definitive return to growth, while also delivering strong bottom-line results," Chief Executive James Reinhart said.

The company said that it divested 91% of its European consignment business, Remix, in the fourth quarter. ThredUp paid $28.5 million to acquire Remix in 2021, a few months after going public. But the company gave up on its European expansion plans late in 2024 after announcing a strategic review of the business in August.

In December, ThredUp said it reached a buyout deal led by Florin Filote, the general manager of Remix, in a transaction that would allow both parties to focus on their respective core markets.

Remix received a final cash investment of $2 million from ThredUp to help fund operations as Remix continues its fundraising process.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

March 03, 2025 17:26 ET (22:26 GMT)

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