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ThredUp Stock Slips 8% On Quarterly Results

Shares of ThredUp Inc. (TDUP) slipped over 8% in extended hours on Monday after the company reported its fourth-quarter results.

Fourth-quarter net loss was $17.9 million or $0.18 per share, compared to a loss of $17.0 million or $1.33 per share last year. On a per share basis, net loss narrowed due to higher number of shares outstanding for the quarter.

Revenues for the quarter rose to $72.9 million from $43.4 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.17 per share on revenues of $69.97 million.

The company said active buyers rose 36% to 1.7 million and orders increased 69% to 1.7 million.

Looking forward, the company expects revenues of $70 million to $72 million and $330 million to $340 million for the first quarter and full year 2022, respectively. Analysts currently estimate revenues of $76.68 million and $333.05 million for the first quarter and full year, respectively.

TDUP closed Monday's trading at $7.55, up $0.53 or 7.55%, on the Nasdaq. The stock, however, slipped $0.64 or 8.48%, in the after-hours trading.

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