ThredUp achieved record performance in Q3 2025, with revenue growth accelerating to 34% year-over-year, bolstered by a strong surge in customer acquisition and engagement.

• New customer acquisition rose by 54% year-over-year, marking the highest quarterly increase in company history.
• Gross margin improved to 79.4%, while adjusted EBITDA reached 4.6%, both exceeding initial expectations.
• The company launched a rebranded experience and innovative AI-driven features, enhancing personalization and customer engagement.
• Tariff impacts are expected to serve as a structural tailwind, potentially boosting customer acquisition as prices rise in the apparel market.
• ThredUp's new supply growth vectors, including Resale-as-a-Service and direct selling, are anticipated to strengthen market competitiveness and expand offerings.