ThredUp (TDUP) Gross Margin (2020 - 2026)
ThredUp (TDUP) posted quarterly Gross Margin of 79.17% for Q1 2026, up 10.0% year-over-year from 71.97% in Q1 2025, and down 0.52% quarter-over-quarter from 79.59% in Q4 2025.
ThredUp (TDUP) Gross Margin (2020 - 2026) Analysis & Trends
ThredUp (TDUP) has reported Gross Margin for 7 consecutive years, with 79.17% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 10.0% year-over-year to 79.17%; the TTM figure through Mar 2026 stood at 79.4% (up 2.0% YoY), while the FY2025 annual figure was 79.39%, down 26.0% from the prior year.
- Gross Margin declined to 79.17% in Q1 2026 per TDUP's latest filing, from 79.59% in the prior quarter.
- Across five years, Gross Margin topped out at 195.89% in Q4 2023 and bottomed at 63.05% in Q4 2022.
- Historically, Gross Margin has averaged 81.26% across 5 years, with a median of 79.07% in 2025.
- Annual changes were most pronounced in 2023 — Gross Margin soared 13284 bps — and 2024, when it tumbled 11547 bps.
- ThredUp's Gross Margin stood at 63.05% in 2022, then soared by 211 bps to 195.89% in 2023, then tumbled by 59 bps to 80.43% in 2024, then fell by 1 bps to 79.59% in 2025, then fell by 1 bps to 79.17% in 2026.
- Business Quant data shows TDUP's Gross Margin at 79.17% in Q1 2026, 79.59% in Q4 2025, and 79.37% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,927.45 Bn | 2,804.46 Bn | 198.88 Bn | 52.05% |
| 2 | PDD Holdings | 507.18 Bn | 447.64 Bn | 9.83 Bn | 55.49% |
| 3 | Mercadolibre | 97.45 Bn | 82.26 Bn | 4.16 Bn | 40.90% |
| 4 | DoorDash | 92.85 Bn | 87.50 Bn | 2.35 Bn | 52.69% |
| 5 | JD.com | 87.53 Bn | 58.35 Bn | 7.66 Bn | 16.73% |
| 6 | Sea | 78.11 Bn | 69.59 Bn | 3.15 Bn | 44.32% |
| 7 | Ebay | 47.50 Bn | 44.19 Bn | 2.30 Bn | 73.45% |
| 8 | Coupang | 29.76 Bn | 23.65 Bn | 2.49 Bn | 28.16% |
| 9 | Zkh | 16.08 Bn | 16.08 Bn | 51.11 Mn | 16.68% |
| 10 | ThredUp | 403.20 Mn | 350.77 Mn | 72.52 Mn | 79.90% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 79.90% |
| Mar 31, 2026 | 79.17% |
| Dec 31, 2025 | 79.59% |
| Sep 30, 2025 | 79.37% |
| Jun 30, 2025 | 79.50% |
| Mar 31, 2025 | 79.07% |
| Dec 31, 2024 | 80.43% |
| Sep 30, 2024 | 79.26% |
| Jun 30, 2024 | 78.78% |
| Mar 31, 2024 | 80.13% |
| Dec 31, 2023 | 195.89% |
| Sep 30, 2023 | 69.02% |
| Jun 30, 2023 | 67.42% |
| Mar 31, 2023 | 67.30% |
| Dec 31, 2022 | 63.05% |
| Sep 30, 2022 | 65.49% |
| Jun 30, 2022 | 68.89% |
| Mar 31, 2022 | 69.09% |
| Dec 31, 2021 | 66.12% |
| Sep 30, 2021 | 72.85% |