0001484778-24-000117 | 10-Q | XBRL Viewer

Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

Basis of Presentation and Use of Estimates

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany account balances and transactions have been eliminated upon consolidation. The unaudited condensed consolidated financial statements were prepared in accordance with the United States (“U.S.”) Generally Accepted Accounting Principles (“GAAP”) for interim financial information and with the instructions to Quarterly Report on Form 10‑Q and Article 10 of Regulation S-X. As permitted under those rules, certain footnotes or other financial information may be condensed or omitted.

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and the related disclosures. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, but are not limited to: the useful lives of property and equipment and intangibles, allowance for sales returns, breakage on loyalty points and rewards and gift cards, valuation of inventory, stock-based compensation, lease liabilities, goodwill and acquired intangible assets.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal and recurring adjustments necessary to present fairly the financial position of the Company as of June 30, 2024, and the results of operations and cash flows for the interim periods presented.

The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 10-K”).

Recently Adopted Accounting Pronouncements

There were no accounting pronouncements adopted during the three and six months ended June 30, 2024.

Accounting Pronouncements Not Yet Effective

In October 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative,” to amend certain disclosure and presentation requirements for a variety of topics within the Accounting Standards Codification (the “ASC”). These amendments align the requirements in the ASC to the removal of certain disclosure requirements set out in Regulation S-X and Regulation S-K, announced by the SEC. The effective date for each amended topic in the ASC is either the date on which the SEC’s removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, or on June 30, 2027, if the SEC has not removed the requirements by that date. Early adoption is prohibited. The Company does not expect that the application of this standard will have an impact on its consolidated financial statements and disclosures.

In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures. This new guidance is designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. Early adoption is permitted. The Company is currently assessing the impact of adopting this new accounting standard on its consolidated financial statements and disclosures. However, the Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements or disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires additional quantitative and qualitative income tax disclosures to enable financial statements users to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. For public business entities, ASU 2023-09 is effective for annual periods beginning after December 15, 2024, which will be the fiscal year ending December 31, 2025 for the Company. The Company expects the adoption to result in enhanced income tax disclosures.

Revenue from Loyalty Reward Redemption and Expiration

The Company has a customer loyalty program, which allows end-customers to earn and accumulate points with each qualifying purchase. Earned points can be redeemed for loyalty rewards, such as non-cashoutable shopping credit, free shipping, or waived restocking fee, which can be applied to future purchases or returns. Unredeemed points expire after one year from the date the points were earned. Reward coupons expire six months from the date the reward is claimed. Points earned on purchases are a material right, representing a separate performance obligation.

The allocated consideration for the points earned through qualifying purchase transactions is deferred based on the standalone selling price of the points, adjusted for expected breakage in proportion to the pattern of redemption, and recorded within deferred revenue under accrued and other current liabilities within the Company’s condensed consolidated balance sheets. Revenue is recognized for these performance obligations at a point in time when rewards are redeemed by the end customer or expired.

As of June 30, 2024 and December 31, 2023, the Company had a deferred revenue liability of $1.3 million and $3.1 million, respectively, related to its customer loyalty program, which is included in accrued and other current liabilities within the Company’s condensed consolidated balance sheets. The Company recognized revenue from loyalty reward redemption and expiration of $3.8 million and $2.4 million for the three months ended June 30, 2024 and 2023, respectively, and $7.4 million and $4.6 million for the six months ended June 30, 2024 and 2023, respectively. As our loyalty points expire in 12 months and coupon rewards expire in six months, the revenue for the remaining performance obligation is expected to be recognized within a 12-month period.

Gift Cards and Site Credits

The Company sells ThredUp gift cards on its e-commerce website and may also convert seller payables and site credits to ThredUp gift cards beginning after one year at the discretion of the Company. ThredUp gift cards do not expire or lose value over periods of inactivity. The Company accounts for gift cards by recognizing a gift card liability at the time a gift card is delivered to the customer. As of June 30, 2024 and December 31, 2023, $7.2 million and $6.6 million, respectively, of gift card liability was included in accrued and other current liabilities within the Company’s condensed consolidated balance sheets. Revenue from redemption of gift cards amounted to $0.3 million and $0.7 million for the three months ended June 30, 2024 and 2023, respectively, and $0.6 million and $1.2 million for the six months ended June 30, 2024 and 2023, respectively.

The Company recognizes breakage revenue when it determines that the redemption of gift cards is remote. Breakage revenue was $1.3 million and $2.6 million for the three and six months ended June 30, 2024, respectively. Breakage revenue was not material for the three and six months ended June 30, 2023.

The Company issues site credits for returns, which can be applied toward future charges but may not be converted into cash. Site credits may also be converted to ThredUp gift cards beginning after one year at the discretion of the Company. These credits are recognized as revenue when used. As of June 30, 2024 and December 31, 2023, $5.0 million and $4.8 million, respectively, of such customer site credits were included in accrued and other current liabilities within the Company’s condensed consolidated balance sheets. Revenue recognized from the redemption of site credits was $11.4 million and $10.7 million for the three months ended June 30, 2024 and 2023, respectively, and $22.1 million and $20.0 million for the six months ended June 30, 2024 and 2023, respectively.

Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Company’s condensed consolidated balance sheets that sum to the total of the same such amounts shown in the Company’s condensed consolidated statements of cash flows:


	June 30, 2024		December 31, 2023
	(in thousands)
Cash and cash equivalents	$	44,755	$	56,084
Restricted cash included in Other current assets	335		462
Restricted cash included in Other assets	5,035		4,923
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	50,125	$	61,469

Fair Value Measurements

The Company applies the provisions of FASB ASC Topic 820, Fair Value Measurements and Disclosures, for its financial and non-financial assets and liabilities. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

•Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

•Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

•Level 3 inputs are unobservable inputs for the asset or liability.

The Company measures certain assets and liabilities at fair value as discussed throughout the notes to its condensed consolidated financial statements. As of June 30, 2024 and December 31, 2023, the carrying amounts of the Company’s accounts receivable, other current assets, other assets, accounts payable, seller payable and accrued and other current liabilities approximated their estimated fair values due to their relatively short maturities. Management believes the terms of its long-term variable-rate debt reflect current market conditions for an instrument with similar terms and maturity, and as such, the carrying value of the Company’s long-term debt approximated its fair value as of June 30, 2024 and December 31, 2023.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The quarterly income tax provision reflects an estimate of the corresponding quarter’s state taxes in the U.S. The provision for income tax expense for the three and six months ended June 30, 2024 and 2023 was determined based upon estimates of the Company’s annual effective tax rate for the years ending December 31, 2024 and 2023, respectively. Since the Company is in a full valuation allowance position due to losses incurred since inception, the provision for taxes consists solely of certain state income taxes.

- Definition

The entire disclosure for income tax.

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+ Details

Balance Sheet Components - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Work in process	$ 1,358	$ 3,333
Finished goods	8,955	12,354
Total	$ 10,313	$ 15,687

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 44,755	$ 56,084
Marketable securities	10,525	8,100
Accounts receivable, net	5,888	7,813
Inventory	10,313	15,687
Other current assets	6,698	6,204
Total current assets	78,179	93,888
Operating lease right-of-use assets	45,624	42,118
Property and equipment, net	82,839	87,672
Goodwill	11,608	11,957
Intangible assets	6,628	8,156
Other assets	6,333	6,176
Total assets	231,211	249,967
Current liabilities:
Accounts payable	10,897	9,457
Accrued and other current liabilities	34,210	35,934
Seller payable	19,182	21,495
Operating lease liabilities, current	5,513	5,949
Current portion of long-term debt	3,847	3,838
Total current liabilities	73,649	76,673
Operating lease liabilities, non-current	48,068	44,621
Long-term debt, net of current portion	20,080	22,006
Other non-current liabilities	2,925	2,750
Total liabilities	144,722	146,050
Commitments and contingencies (Note 10)
Stockholders’ equity:
Class A and B common stock, $0.0001 par value; 1,120,000 shares authorized as of June 30, 2024 and December 31, 2023; 112,386 and 108,784 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	11	11
Additional paid-in capital	599,333	585,156
Accumulated other comprehensive loss	(3,472)	(2,375)
Accumulated deficit	(509,383)	(478,875)
Total stockholders’ equity	86,489	103,917
Total liabilities and stockholders’ equity	$ 231,211	$ 249,967

Subsequent Event	6 Months Ended
Subsequent Event	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event In August 2024, the Company announced that, following a review of its European operations, the Company intends to exit the European market and is evaluating strategic alternatives for its Remix business.

Financial Instruments and Fair Value Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measurements

The following tables provide information about the Company’s financial instruments that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized to determine such values as of June 30, 2024 and December 31, 2023:


	June 30, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	5,018	$	—	$	—	$	5,018
Commercial paper	—		8,621		—		8,621
U.S. treasury securities	—		3,980		—		3,980
U.S. government agency bonds	—		1,997		—		1,997
Total cash equivalents	5,018		14,598		—		19,616
Marketable securities:

U.S. treasury securities	—		8,519		—		8,519
U.S. government agency bonds	—		2,006		—		2,006
Total marketable securities	—		10,525		—		10,525
Total assets at fair value	$	5,018	$	25,123	$	—	$	30,141


	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	8,028	$	—	$	—	$	8,028
Commercial paper	—		14,954		—		14,954
U.S. treasury securities	—		7,976		—		7,976
U.S. government agency bonds	—		1,108		—		1,108
Total cash equivalents	8,028		24,038		—		32,066
Marketable securities:

U.S. treasury securities	—		7,405		—		7,405
U.S. government agency bonds	—		695		—		695
Total marketable securities	—		8,100		—		8,100
Total assets at fair value	$	8,028	$	32,138	$	—	$	40,166

As of June 30, 2024 and December 31, 2023, the Company’s cash equivalents and marketable securities approximated their estimated fair value. As such, the unrealized gains or losses related to the Company’s cash equivalents and marketable securities were not material.

For the Company’s marketable securities, which were all classified as available-for-sale, the Company utilizes third-party pricing services to obtain fair value. Third-party pricing methodologies incorporate bond terms and conditions, current performance data, proprietary pricing models, real-time quotes from contributing dealers, trade prices and other market data. The Company determined that the declines in the fair value of its marketable securities were not driven by credit-related factors. During the three and six months ended June 30, 2024 and 2023, the Company did not recognize any losses on its marketable securities due to credit-related factors.

As of June 30, 2024, the Company’s money market funds were valued using Level 1 inputs because they were valued using quoted prices in active markets. The Company’s U.S. treasury securities, commercial paper and U.S. government agency bonds were valued using Level 2 inputs because they were valued using quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

There were no transfers into or out of Level 3 during the three and six months ended June 30, 2024. As of June 30, 2024, all of the $10.5 million carrying amount of marketable securities had a contractual maturity date of less than one year.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (30,508)	$ (38,553)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	9,798	8,517
Stock-based compensation expense	14,220	17,019
Reduction in carrying amount of right-of-use assets	3,093	3,177
Other	(691)	291
Changes in operating assets and liabilities:
Accounts receivable, net	1,842	916
Inventory	5,029	(2,670)
Other current and non-current assets	(10)	(699)
Accounts payable	1,105	177
Accrued and other current liabilities	(1,635)	(1,750)
Seller payable	(2,293)	3,301
Operating lease liabilities	(3,585)	(4,240)
Other non-current liabilities	56	(325)
Net cash used in operating activities	(3,579)	(14,839)
Cash flows from investing activities:
Purchases of marketable securities	(15,153)	(7,878)
Maturities of marketable securities	13,000	49,479
Purchases of property and equipment	(2,790)	(12,292)
Net cash provided by (used in) investing activities	(4,943)	29,309
Cash flows from financing activities:
Repayment of debt	(2,000)	(2,000)
Proceeds from issuance of stock-based awards	1,788	2,136
Payments of withholding taxes on stock-based awards	(2,450)	(1,885)
Net cash used in financing activities	(2,662)	(1,749)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(160)	324
Net change in cash, cash equivalents, and restricted cash	(11,344)	13,045
Cash, cash equivalents, and restricted cash, beginning of period	61,469	44,051
Cash, cash equivalents, and restricted cash, end of period	$ 50,125	$ 57,096

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill is primarily attributable to the planned growth in the combined business after the acquisition of Remix Global EAD (“Remix”). Goodwill is reviewed for impairment at least annually, absent any interim indicators of impairment. Goodwill was $11.6 million and $12.0 million as of June 30, 2024 and December 31, 2023, respectively. The change in goodwill during the six months ended June 30, 2024 was due to foreign currency translation adjustments.

The gross carrying amounts and accumulated amortization of the Company’s intangible assets with determinable lives as of June 30, 2024 and December 31, 2023 were as follows:


		June 30, 2024
	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in years)	(in thousands)
Customer relationships	8	$	4,820	$	(1,644)	$	3,176
Developed technology	3	4,542		(4,131)		411
Trademarks	9	4,363		(1,322)		3,041
Total		$	13,725	$	(7,097)	$	6,628


		December 31, 2023
	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in years)	(in thousands)
Customer relationships	8	$	4,965	$	(1,386)	$	3,579
Developed technology	3	4,679		(3,482)		1,197
Trademarks	9	4,494		(1,114)		3,380
Total		$	14,138	$	(5,982)	$	8,156

The changes in the gross carrying amounts were due to foreign currency translation adjustments.

Amortization expense related to developed technology, customer relationships, and trademarks is recorded within operations, product, and technology; sales, general, and administrative; and marketing expense, respectively, within the Company’s condensed consolidated statements of operations. Amortization expense of intangible assets with determinable lives was $0.7 million for each of the three months ended June 30, 2024 and 2023, and $1.3 million for each of the six months ended June 30, 2024 and 2023.

Stock-Based Compensation - Schedule of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Number of Options Outstanding
Options outstanding, beginning balance (in shares) \| shares	16,247,000
Options granted (in shares) \| shares	0
Options exercised (in shares) \| shares	(66,000)
Options forfeited or expired (in shares) \| shares	(168,000)
Options outstanding, ending balance (in shares) \| shares	16,013,000	16,247,000
Options exercisable (in shares) \| shares	15,119,000
Weighted-Average Exercise Price Per Share
Beginning balance (in dollars per share) \| $ / shares	$ 1.99
Options granted (in dollars per share) \| $ / shares	0
Options exercised (in dollars per share) \| $ / shares	1.50
Options forfeited or expired (in dollars per share) \| $ / shares	2.18
Ending balance (in dollars per share) \| $ / shares	1.99	$ 1.99
Options exercisable (in dollars per share) \| $ / shares	$ 1.97
Weighted-Average Remaining Contractual Life
Options outstanding	3 years 7 months 6 days	4 years 1 month 20 days
Options exercisable	3 years 5 months 12 days
Aggregate Intrinsic Value
Options outstanding \| $	$ 1,869	$ 5,861
Options exercisable \| $	$ 1,869

Long-Term Debt

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Long-Term Debt

In February 2019, the Company entered into a loan and security agreement (“Term Loan”) with Western Alliance Bank for an aggregate amount of up to $40.0 million.

The Term Loan was subsequently amended several times, with the most recent amendment taking place in December 2023. As amended, the Term Loan matures on July 14, 2027 and provides for an aggregate borrowing amount of up to $48.8 million, of which $22.5 million is designated for the purchase of certain equipment. The Term Loan bears interest at the prime rate published in the Wall Street Journal plus a margin of 1.25%, with a floor of 4.75%.

The Term Loan requires the Company to comply with certain financial covenants, including, among other things, liquidity requirements, minimum cash deposits with Western Alliance Bank, performance metrics, and a debt service coverage ratio. The Term Loan also contains affirmative and negative covenants customary for financings of this type, including, among other things, limitations or prohibitions on repurchasing common shares, declaring and paying dividends and other distributions, redeeming and repurchasing certain other indebtedness, loans and investments, additional indebtedness, liens, mergers, asset sales and transactions with affiliates. In addition, the Term Loan contains customary events of default. As of June 30, 2024, the Company was in compliance with its debt covenants under the Term Loan.

The Term Loan is payable in consecutive monthly installments. Interest is due monthly on amounts outstanding under the Term Loan. The Company is permitted to make voluntary prepayments without penalty or premium at any time.

As of June 30, 2024 and December 31, 2023, the effective interest rate for borrowings under the Term Loan was 10.73%.

During the six months ended June 30, 2024 and 2023, the Company did not make any borrowings under the Term Loan and repaid a total of $2.0 million in each of the periods on amounts outstanding under the Term Loan. As of June 30, 2024 and December 31, 2023, the amounts outstanding under the Term Loan were $24.3 million and $26.3 million, respectively.

The Company incurred $0.7 million of interest costs relating to the Term Loan during each of the three months ended June 30, 2024 and 2023. There was no capitalized interest during the three months ended June 30, 2024 and 2023.

The Company incurred $1.3 million and $1.4 million of interest costs relating to the Term Loan during the six months ended June 30, 2024 and 2023, respectively. There was no capitalized interest during the six months ended June 30, 2024, and $0.6 million was capitalized as part of an asset for the six months ended June 30, 2023.

As of June 30, 2024, the future annual principal payments of the Term Loan were as follows:


	Amount
	(in thousands)
2024 (Remaining six months)	$	2,000
2025	4,000
2026	4,000
2027	14,333

Total principal payments	24,333
Less: unamortized debt discount	(406)
Less: current portion of long-term debt	(3,847)
Non-current portion of long-term debt	$	20,080

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Jul. 29, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-40249
Entity Registrant Name	ThredUp Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-4009181
Entity Address, Address Line One	969 Broadway
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Oakland
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94607
City Area Code	415
Local Phone Number	402-5202
Title of 12(b) Security	Class A Common Stock, $0.0001 par value per share
Trading Symbol	TDUP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0001484778
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		84,334,540
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		28,100,227

Common Stock and Stockholders’ Equity - Schedule of Common Stock Issued and Outstanding (Details) - shares	Jun. 30, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Authorized (in shares)	1,120,000,000	1,120,000,000
Issued (in shares)	112,386,000	108,784,000
Outstanding (in shares)	112,386,000	108,784,000
Class A common stock
Class of Stock [Line Items]
Authorized (in shares)	1,000,000,000	1,000,000,000
Issued (in shares)	83,976,000	78,830,000
Outstanding (in shares)	83,976,000	78,830,000
Class B common stock
Class of Stock [Line Items]
Authorized (in shares)	120,000,000	120,000,000
Issued (in shares)	28,410,000	29,954,000
Outstanding (in shares)	28,410,000	29,954,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (13,954)	$ (18,760)	$ (30,508)	$ (38,553)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(231)	(236)	(1,095)	308
Unrealized gain (loss) on available-for-sale securities	4	303	(2)	913
Total other comprehensive income (loss)	(227)	67	(1,097)	1,221
Total comprehensive loss	$ (14,181)	$ (18,693)	$ (31,605)	$ (37,332)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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+ Details

Property and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following:


	June 30, 2024		December 31, 2023
	(in thousands)
Property and equipment, at cost:
Machinery and equipment	$	79,244	$	79,273
Leasehold improvements	27,610		27,620
Internal-use software	12,890		11,284
Computers and software	7,875		8,260
Construction in progress	7,769		6,542
Furniture and fixtures	2,572		2,574
Total property and equipment, at cost	137,960		135,553
Less: accumulated depreciation and amortization	(55,121)		(47,881)
Property and equipment, net	$	82,839	$	87,672

Loss Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Loss Per Share

The following participating securities have been excluded from the computation of diluted loss per share for the periods presented because including them would have been anti-dilutive:


	June 30, 2024	June 30, 2023
	(in thousands)
Stock options	16,013	17,294
Restricted stock units	13,215	12,366

Employee stock purchase plan	32	24
Total	29,260	29,684

Common Stock and Stockholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Common Stock Issued and Outstanding

The table below summarizes the Class A common stock and Class B common stock authorized, issued and outstanding as of June 30, 2024 and December 31, 2023:


	June 30, 2024		December 31, 2023
	Authorized	Issued and Outstanding	Authorized	Issued and Outstanding
	(in thousands)
Class A common stock	1,000,000	83,976	1,000,000	78,830
Class B common stock	120,000	28,410	120,000	29,954
Total	1,120,000	112,386	1,120,000	108,784

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The gross carrying amounts and accumulated amortization of the Company’s intangible assets with determinable lives as of June 30, 2024 and December 31, 2023 were as follows:


		June 30, 2024
	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in years)	(in thousands)
Customer relationships	8	$	4,820	$	(1,644)	$	3,176
Developed technology	3	4,542		(4,131)		411
Trademarks	9	4,363		(1,322)		3,041
Total		$	13,725	$	(7,097)	$	6,628


		December 31, 2023
	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in years)	(in thousands)
Customer relationships	8	$	4,965	$	(1,386)	$	3,579
Developed technology	3	4,679		(3,482)		1,197
Trademarks	9	4,494		(1,114)		3,380
Total		$	14,138	$	(5,982)	$	8,156

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 137,960	$ 135,553
Less: accumulated depreciation and amortization	(55,121)	(47,881)
Property and equipment, net	82,839	87,672
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	79,244	79,273
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	27,610	27,620
Internal-use software
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	12,890	11,284
Computers and software
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	7,875	8,260
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	7,769	6,542
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, at cost	$ 2,572	$ 2,574

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 11,608		$ 11,608		$ 11,957
Amortization expense	$ 700	$ 700	$ 1,300	$ 1,300

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Antidilutive Securities Excluded from Computation of Loss Per Share

The following participating securities have been excluded from the computation of diluted loss per share for the periods presented because including them would have been anti-dilutive:


	June 30, 2024	June 30, 2023
	(in thousands)
Stock options	16,013	17,294
Restricted stock units	13,215	12,366

Employee stock purchase plan	32	24
Total	29,260	29,684

Stock-Based Compensation

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

The Company has stock-based compensation plans, which are more fully described in Note 10, Stock-Based Compensation Plans, to the Consolidated Financial Statements included in the 2023 10-K. During the six months ended June 30, 2024, the Company granted restricted stock units subject to service conditions.

Stock-Based Compensation Expense

The following table provides information about stock-based compensation expense by financial statement line item:


	Three Months Ended				Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
	(in thousands)
Operations, product, and technology	$	2,867	$	2,913	$	5,438	$	6,584
Marketing	161		923		377		2,128
Sales, general, and administrative	3,981		3,792		8,405		8,307
Total stock-based compensation expense	$	7,009	$	7,628	$	14,220	$	17,019

Stock-based compensation expense capitalized in internal use software was not material for the three and six months ended June 30, 2024 and 2023.

Stock Options

The following table summarizes the activities for all stock options under the Company’s stock-based compensation plans for the six months ended June 30, 2024:


	Number of Options Outstanding	Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value (1)
	(in thousands)				(in thousands)
Outstanding as of December 31, 2023	16,247	$	1.99	4.14 years	$	5,861
Granted	—	$	—
Exercised	(66)	$	1.50
Forfeited or expired	(168)	$	2.18
Outstanding as of June 30, 2024	16,013	$	1.99	3.60 years	$	1,869
Exercisable as of June 30, 2024	15,119	$	1.97	3.45 years	$	1,869

(1)The intrinsic value is the amount by which the current market value of the underlying stock exceeds the exercise price of the stock awards.

As of June 30, 2024, the total unrecognized compensation cost related to all nonvested stock options was $0.5 million and the related weighted-average period over which it is expected to be recognized was less than one year.

Restricted Stock Units

The following table summarizes the activities for all restricted stock units (“RSUs”) under the Company’s stock-based compensation plans for the six months ended June 30, 2024:


	Number of Shares	Weighted-Average Grant Date Fair Value Per Share
	(in thousands)
Outstanding and nonvested as of December 31, 2023	8,538	$	4.39
Granted	9,735	$	1.89
Vested	(3,858)	$	3.79
Forfeited	(1,200)	$	4.79
Outstanding and nonvested as of June 30, 2024	13,215	$	2.69

The total vesting date fair value of RSUs that vested was $7.9 million and $17.3 million during the six months ended June 30, 2024 and 2023, respectively.

During the three months ended March 31, 2023, the Company modified the vesting schedule of substantially all RSUs outstanding as of December 31, 2022 from 4 years to 3 years and recognized compensation expense of $2.4 million related to the acceleration of the vesting schedule.

As of June 30, 2024, the total unrecognized compensation cost related to all nonvested RSUs was $33.2 million and the related weighted-average period over which it is expected to be recognized was approximately two years.

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany account balances and transactions have been eliminated upon consolidation. The unaudited condensed consolidated financial statements were prepared in accordance with the United States (“U.S.”) Generally Accepted Accounting Principles (“GAAP”) for interim financial information and with the instructions to Quarterly Report on Form 10‑Q and Article 10 of Regulation S-X. As permitted under those rules, certain footnotes or other financial information may be condensed or omitted.
Use of Estimates	The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and the related disclosures. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include, but are not limited to: the useful lives of property and equipment and intangibles, allowance for sales returns, breakage on loyalty points and rewards and gift cards, valuation of inventory, stock-based compensation, lease liabilities, goodwill and acquired intangible assets.
Recently Adopted Accounting Pronouncements and Accounting Pronouncements Not Yet Effective	There were no accounting pronouncements adopted during the three and six months ended June 30, 2024. Accounting Pronouncements Not Yet Effective In October 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative,” to amend certain disclosure and presentation requirements for a variety of topics within the Accounting Standards Codification (the “ASC”). These amendments align the requirements in the ASC to the removal of certain disclosure requirements set out in Regulation S-X and Regulation S-K, announced by the SEC. The effective date for each amended topic in the ASC is either the date on which the SEC’s removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, or on June 30, 2027, if the SEC has not removed the requirements by that date. Early adoption is prohibited. The Company does not expect that the application of this standard will have an impact on its consolidated financial statements and disclosures. In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures. This new guidance is designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. Early adoption is permitted. The Company is currently assessing the impact of adopting this new accounting standard on its consolidated financial statements and disclosures. However, the Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements or disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires additional quantitative and qualitative income tax disclosures to enable financial statements users to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. For public business entities, ASU 2023-09 is effective for annual periods beginning after December 15, 2024, which will be the fiscal year ending December 31, 2025 for the Company. The Company expects the adoption to result in enhanced income tax disclosures.
Revenue from Loyalty Reward Redemption and Expiration, Gift Cards and Site Credits	The Company has a customer loyalty program, which allows end-customers to earn and accumulate points with each qualifying purchase. Earned points can be redeemed for loyalty rewards, such as non-cashoutable shopping credit, free shipping, or waived restocking fee, which can be applied to future purchases or returns. Unredeemed points expire after one year from the date the points were earned. Reward coupons expire six months from the date the reward is claimed. Points earned on purchases are a material right, representing a separate performance obligation. The allocated consideration for the points earned through qualifying purchase transactions is deferred based on the standalone selling price of the points, adjusted for expected breakage in proportion to the pattern of redemption, and recorded within deferred revenue under accrued and other current liabilities within the Company’s condensed consolidated balance sheets. Revenue is recognized for these performance obligations at a point in time when rewards are redeemed by the end customer or expired. The Company sells ThredUp gift cards on its e-commerce website and may also convert seller payables and site credits to ThredUp gift cards beginning after one year at the discretion of the Company. ThredUp gift cards do not expire or lose value over periods of inactivity. The Company accounts for gift cards by recognizing a gift card liability at the time a gift card is delivered to the customer.The Company issues site credits for returns, which can be applied toward future charges but may not be converted into cash. Site credits may also be converted to ThredUp gift cards beginning after one year at the discretion of the Company. These credits are recognized as revenue when used.
Fair Value Measurements	The Company applies the provisions of FASB ASC Topic 820, Fair Value Measurements and Disclosures, for its financial and non-financial assets and liabilities. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into three broad levels as follows: •Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. •Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means. •Level 3 inputs are unobservable inputs for the asset or liability. The Company measures certain assets and liabilities at fair value as discussed throughout the notes to its condensed consolidated financial statements. As of June 30, 2024 and December 31, 2023, the carrying amounts of the Company’s accounts receivable, other current assets, other assets, accounts payable, seller payable and accrued and other current liabilities approximated their estimated fair values due to their relatively short maturities. Management believes the terms of its long-term variable-rate debt reflect current market conditions for an instrument with similar terms and maturity, and as such, the carrying value of the Company’s long-term debt approximated its fair value as of June 30, 2024 and December 31, 2023.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483426/235-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Long-Term Debt - Schedule of Maturities of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2024 (Remaining six months)	$ 2,000
2025	4,000
2026	4,000
2027	14,333
Total principal payments	24,333
Less: unamortized debt discount	(406)
Less: current portion of long-term debt	(3,847)	$ (3,838)
Non-current portion of long-term debt	$ 20,080	$ 22,006

Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents


	June 30, 2024		December 31, 2023
	(in thousands)
Cash and cash equivalents	$	44,755	$	56,084
Restricted cash included in Other current assets	335		462
Restricted cash included in Other assets	5,035		4,923
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	50,125	$	61,469

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 4.2	$ 4.2	$ 8.5	$ 7.2

Balance Sheet Components

6 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Inventory consisted of the following:


	June 30, 2024		December 31, 2023
	(in thousands)
Work in process	$	1,358	$	3,333
Finished goods	8,955		12,354
Total	$	10,313	$	15,687

Work in process inventory relates to items that are currently undergoing preparation for sale, including itemization, cleaning, and repair.

Accrued and other current liabilities consisted of the following:


	June 30, 2024		December 31, 2023
	(in thousands)
Gift card and site credit liabilities	$	12,230	$	11,407
Accrued vendor liabilities	5,679		4,080
Accrued taxes	4,252		4,967
Accrued compensation	4,027		4,092
Deferred revenue	3,775		6,377
Allowance for returns	3,307		3,817
Accrued other	940		1,194
Total	$	34,210	$	35,934

Financial Instruments and Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 10,525	$ 8,100
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 10,525	$ 8,100

Financial Instruments and Fair Value Measurements – Schedule of Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Marketable securities:
Total marketable securities	$ 10,525	$ 8,100
Fair Value, Recurring
Cash equivalents:
Total cash equivalents	19,616	32,066
Marketable securities:
Total marketable securities	10,525	8,100
Total assets at fair value	30,141	40,166
Fair Value, Recurring \| U.S. treasury securities
Marketable securities:
Total marketable securities	8,519	7,405
Fair Value, Recurring \| U.S. government agency bonds
Marketable securities:
Total marketable securities	2,006	695
Fair Value, Recurring \| Money market funds
Cash equivalents:
Total cash equivalents	5,018	8,028
Fair Value, Recurring \| Commercial paper
Cash equivalents:
Total cash equivalents	8,621	14,954
Fair Value, Recurring \| U.S. treasury securities
Cash equivalents:
Total cash equivalents	3,980	7,976
Fair Value, Recurring \| U.S. government agency bonds
Cash equivalents:
Total cash equivalents	1,997	1,108
Level 1 \| Fair Value, Recurring
Cash equivalents:
Total cash equivalents	5,018	8,028
Marketable securities:
Total marketable securities	0	0
Total assets at fair value	5,018	8,028
Level 1 \| Fair Value, Recurring \| U.S. treasury securities
Marketable securities:
Total marketable securities	0	0
Level 1 \| Fair Value, Recurring \| U.S. government agency bonds
Marketable securities:
Total marketable securities	0	0
Level 1 \| Fair Value, Recurring \| Money market funds
Cash equivalents:
Total cash equivalents	5,018	8,028
Level 1 \| Fair Value, Recurring \| Commercial paper
Cash equivalents:
Total cash equivalents	0	0
Level 1 \| Fair Value, Recurring \| U.S. treasury securities
Cash equivalents:
Total cash equivalents	0	0
Level 1 \| Fair Value, Recurring \| U.S. government agency bonds
Cash equivalents:
Total cash equivalents	0	0
Level 2 \| Fair Value, Recurring
Cash equivalents:
Total cash equivalents	14,598	24,038
Marketable securities:
Total marketable securities	10,525	8,100
Total assets at fair value	25,123	32,138
Level 2 \| Fair Value, Recurring \| U.S. treasury securities
Marketable securities:
Total marketable securities	8,519	7,405
Level 2 \| Fair Value, Recurring \| U.S. government agency bonds
Marketable securities:
Total marketable securities	2,006	695
Level 2 \| Fair Value, Recurring \| Money market funds
Cash equivalents:
Total cash equivalents	0	0
Level 2 \| Fair Value, Recurring \| Commercial paper
Cash equivalents:
Total cash equivalents	8,621	14,954
Level 2 \| Fair Value, Recurring \| U.S. treasury securities
Cash equivalents:
Total cash equivalents	3,980	7,976
Level 2 \| Fair Value, Recurring \| U.S. government agency bonds
Cash equivalents:
Total cash equivalents	1,997	1,108
Level 3 \| Fair Value, Recurring
Cash equivalents:
Total cash equivalents	0	0
Marketable securities:
Total marketable securities	0	0
Total assets at fair value	0	0
Level 3 \| Fair Value, Recurring \| U.S. treasury securities
Marketable securities:
Total marketable securities	0	0
Level 3 \| Fair Value, Recurring \| U.S. government agency bonds
Marketable securities:
Total marketable securities	0	0
Level 3 \| Fair Value, Recurring \| Money market funds
Cash equivalents:
Total cash equivalents	0	0
Level 3 \| Fair Value, Recurring \| Commercial paper
Cash equivalents:
Total cash equivalents	0	0
Level 3 \| Fair Value, Recurring \| U.S. treasury securities
Cash equivalents:
Total cash equivalents	0	0
Level 3 \| Fair Value, Recurring \| U.S. government agency bonds
Cash equivalents:
Total cash equivalents	$ 0	$ 0

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 7,009	$ 7,628	$ 14,220	$ 17,019
Operations, product, and technology
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	2,867	2,913	5,438	6,584
Marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	161	923	377	2,128
Sales, general, and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 3,981	$ 3,792	$ 8,405	$ 8,307

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,120,000,000	1,120,000,000
Common stock, shares issued (in shares)	112,386,000	108,784,000
Common stock, shares outstanding (in shares)	112,386,000	108,784,000

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		101,532,000
Beginning balance at Dec. 31, 2022	$ 140,001	$ 10	$ 551,852	$ (4,234)	$ (407,627)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan (in shares)		1,484,000
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan	275		275
Stock-based compensation	9,720		9,720
Shares withheld for net share settlement (in shares)		(180,000)
Shares withheld for net share settlement	(270)		(270)
Net loss	(19,793)				(19,793)
Other comprehensive income (loss)	1,154			1,154
Ending balance (in shares) at Mar. 31, 2023		102,836,000
Ending balance at Mar. 31, 2023	131,087	$ 10	561,577	(3,080)	(427,420)
Beginning balance (in shares) at Dec. 31, 2022		101,532,000
Beginning balance at Dec. 31, 2022	140,001	$ 10	551,852	(4,234)	(407,627)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(38,553)
Other comprehensive income (loss)	1,221
Ending balance (in shares) at Jun. 30, 2023		105,335,000
Ending balance at Jun. 30, 2023	120,598	$ 11	569,780	(3,013)	(446,180)
Beginning balance (in shares) at Mar. 31, 2023		102,836,000
Beginning balance at Mar. 31, 2023	131,087	$ 10	561,577	(3,080)	(427,420)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan (in shares)		2,663,000
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan	594	$ 1	593
Stock-based compensation	7,958		7,958
Shares withheld for net share settlement (in shares)		(164,000)
Shares withheld for net share settlement	(348)		(348)
Net loss	(18,760)				(18,760)
Other comprehensive income (loss)	67			67
Ending balance (in shares) at Jun. 30, 2023		105,335,000
Ending balance at Jun. 30, 2023	$ 120,598	$ 11	569,780	(3,013)	(446,180)
Beginning balance (in shares) at Dec. 31, 2023	108,784,000	108,784,000
Beginning balance at Dec. 31, 2023	$ 103,917	$ 11	585,156	(2,375)	(478,875)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan (in shares)		1,694,000
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan	81		81
Stock-based compensation	7,506		7,506
Shares withheld for net share settlement (in shares)		(261,000)
Shares withheld for net share settlement	(550)		(550)
Net loss	(16,554)				(16,554)
Other comprehensive income (loss)	(870)			(870)
Ending balance (in shares) at Mar. 31, 2024		110,217,000
Ending balance at Mar. 31, 2024	$ 93,530	$ 11	592,193	(3,245)	(495,429)
Beginning balance (in shares) at Dec. 31, 2023	108,784,000	108,784,000
Beginning balance at Dec. 31, 2023	$ 103,917	$ 11	585,156	(2,375)	(478,875)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan (in shares)	66,000
Net loss	$ (30,508)
Other comprehensive income (loss)	$ (1,097)
Ending balance (in shares) at Jun. 30, 2024	112,386,000	112,386,000
Ending balance at Jun. 30, 2024	$ 86,489	$ 11	599,333	(3,472)	(509,383)
Beginning balance (in shares) at Mar. 31, 2024		110,217,000
Beginning balance at Mar. 31, 2024	93,530	$ 11	592,193	(3,245)	(495,429)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan (in shares)		2,458,000
Issuance of common stock from exercise of stock options, restricted stock units, and employee stock purchase plan	407		407
Stock-based compensation	7,314		7,314
Shares withheld for net share settlement (in shares)		(289,000)
Shares withheld for net share settlement	(581)		(581)
Net loss	(13,954)				(13,954)
Other comprehensive income (loss)	$ (227)			(227)
Ending balance (in shares) at Jun. 30, 2024	112,386,000	112,386,000
Ending balance at Jun. 30, 2024	$ 86,489	$ 11	$ 599,333	$ (3,472)	$ (509,383)

Property and Equipment, Net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment, net consisted of the following:


	June 30, 2024		December 31, 2023
	(in thousands)
Property and equipment, at cost:
Machinery and equipment	$	79,244	$	79,273
Leasehold improvements	27,610		27,620
Internal-use software	12,890		11,284
Computers and software	7,875		8,260
Construction in progress	7,769		6,542
Furniture and fixtures	2,572		2,574
Total property and equipment, at cost	137,960		135,553
Less: accumulated depreciation and amortization	(55,121)		(47,881)
Property and equipment, net	$	82,839	$	87,672

Depreciation and amortization expense of property and equipment was $4.2 million for each of the three months ended June 30, 2024 and 2023, and $8.5 million and $7.2 million for the six months ended June 30, 2024 and 2023, respectively.

Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value


	June 30, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	5,018	$	—	$	—	$	5,018
Commercial paper	—		8,621		—		8,621
U.S. treasury securities	—		3,980		—		3,980
U.S. government agency bonds	—		1,997		—		1,997
Total cash equivalents	5,018		14,598		—		19,616
Marketable securities:

U.S. treasury securities	—		8,519		—		8,519
U.S. government agency bonds	—		2,006		—		2,006
Total marketable securities	—		10,525		—		10,525
Total assets at fair value	$	5,018	$	25,123	$	—	$	30,141


	December 31, 2023
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets:
Cash equivalents:
Money market funds	$	8,028	$	—	$	—	$	8,028
Commercial paper	—		14,954		—		14,954
U.S. treasury securities	—		7,976		—		7,976
U.S. government agency bonds	—		1,108		—		1,108
Total cash equivalents	8,028		24,038		—		32,066
Marketable securities:

U.S. treasury securities	—		7,405		—		7,405
U.S. government agency bonds	—		695		—		695
Total marketable securities	—		8,100		—		8,100
Total assets at fair value	$	8,028	$	32,138	$	—	$	40,166

Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue from External Customer [Line Items]
Customer liability	$ 12,230		$ 12,230		$ 11,407
Coupon Rewards
Revenue from External Customer [Line Items]
Performance obligation, expiration period	6 months		6 months
Loyalty Program
Revenue from External Customer [Line Items]
Revenue recognized	$ 3,800	$ 2,400	$ 7,400	$ 4,600
Loyalty Program \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue from External Customer [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months		12 months
Loyalty Program \| Transferred over Time
Revenue from External Customer [Line Items]
Customer liability	$ 1,300		$ 1,300		3,100
Loyalty Points
Revenue from External Customer [Line Items]
Performance obligation, expiration period	12 months		12 months
Gift Card
Revenue from External Customer [Line Items]
Customer liability	$ 7,200		$ 7,200		6,600
Revenue recognized	300	700	$ 600	1,200
Conversion period			1 year
Gift Card Breakage
Revenue from External Customer [Line Items]
Revenue recognized	1,300	0	$ 2,600	0
Site Credit
Revenue from External Customer [Line Items]
Customer liability	5,000		$ 5,000		$ 4,800
Conversion period			1 year
Revenue recognized from the redemption	$ 11,400	$ 10,700	$ 22,100	$ 20,000

Balance Sheet Components - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Gift card and site credit liabilities	$ 12,230	$ 11,407
Accrued vendor liabilities	5,679	4,080
Accrued taxes	4,252	4,967
Accrued compensation	4,027	4,092
Deferred revenue	3,775	6,377
Allowance for returns	3,307	3,817
Accrued other	940	1,194
Total	$ 34,210	$ 35,934

Common Stock and Stockholders’ Equity

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Common Stock and Stockholders’ Equity

Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible at any time into one share of Class A common stock.

The table below summarizes the Class A common stock and Class B common stock authorized, issued and outstanding as of June 30, 2024 and December 31, 2023:


	June 30, 2024		December 31, 2023
	Authorized	Issued and Outstanding	Authorized	Issued and Outstanding
	(in thousands)
Class A common stock	1,000,000	83,976	1,000,000	78,830
Class B common stock	120,000	28,410	120,000	29,954
Total	1,120,000	112,386	1,120,000	108,784

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (13,954)	$ (16,554)	$ (18,760)	$ (19,793)	$ (30,508)	$ (38,553)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Loss Per Share (Details) - shares shares in Thousands	6 Months Ended
Loss Per Share (Details) - shares shares in Thousands	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	29,260	29,684
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	16,013	17,294
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	13,215	12,366
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total (in shares)	32	24

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The following table provides information about stock-based compensation expense by financial statement line item:


	Three Months Ended				Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
	(in thousands)
Operations, product, and technology	$	2,867	$	2,913	$	5,438	$	6,584
Marketing	161		923		377		2,128
Sales, general, and administrative	3,981		3,792		8,405		8,307
Total stock-based compensation expense	$	7,009	$	7,628	$	14,220	$	17,019

Schedule of Stock Option Activity

The following table summarizes the activities for all stock options under the Company’s stock-based compensation plans for the six months ended June 30, 2024:


	Number of Options Outstanding	Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value (1)
	(in thousands)				(in thousands)
Outstanding as of December 31, 2023	16,247	$	1.99	4.14 years	$	5,861
Granted	—	$	—
Exercised	(66)	$	1.50
Forfeited or expired	(168)	$	2.18
Outstanding as of June 30, 2024	16,013	$	1.99	3.60 years	$	1,869
Exercisable as of June 30, 2024	15,119	$	1.97	3.45 years	$	1,869

(1)The intrinsic value is the amount by which the current market value of the underlying stock exceeds the exercise price of the stock awards.

Schedule of Restricted Stock Unit Activity

The following table summarizes the activities for all restricted stock units (“RSUs”) under the Company’s stock-based compensation plans for the six months ended June 30, 2024:


	Number of Shares	Weighted-Average Grant Date Fair Value Per Share
	(in thousands)
Outstanding and nonvested as of December 31, 2023	8,538	$	4.39
Granted	9,735	$	1.89
Vested	(3,858)	$	3.79
Forfeited	(1,200)	$	4.79
Outstanding and nonvested as of June 30, 2024	13,215	$	2.69

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Feb. 28, 2019
Debt Instrument [Line Items]
Repayment of debt				$ 2,000	$ 2,000
Medium-term Notes
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 48,800
Medium-term Notes \| Equipment
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 22,500
Term Loan \| Medium-term Notes
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 40,000
Variable interest rate	1.25%
Debt instrument, floor percentage	4.75%
Effective interest rate	10.73%	10.73%		10.73%
Borrowed amount				$ 0	0
Repayment of debt				2,000	2,000
Principal outstanding	$ 26,300	$ 24,300		24,300
Interest costs incurred relating to the term loan		700	$ 700	1,300	1,400
Interest costs capitalized as part of an asset		$ 0	$ 0	$ 0	$ 600

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Maturities of Long-Term Debt

As of June 30, 2024, the future annual principal payments of the Term Loan were as follows:


	Amount
	(in thousands)
2024 (Remaining six months)	$	2,000
2025	4,000
2026	4,000
2027	14,333

Total principal payments	24,333
Less: unamortized debt discount	(406)
Less: current portion of long-term debt	(3,847)
Non-current portion of long-term debt	$	20,080

Organization and Description of Business	6 Months Ended
Organization and Description of Business	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business ThredUp Inc. (“ThredUp” or the “Company”) was formed as a corporation in the State of Delaware in January 2009. ThredUp operates a large resale platform that enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories.

Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 44,755	$ 56,084
Restricted cash included in Other current assets	335	462
Restricted cash included in Other assets	5,035	4,923
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 50,125	$ 61,469	$ 57,096	$ 44,051

Commitment and Contingencies	6 Months Ended
Commitment and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Contingencies The Company is subject to litigation claims and assessments from time to time in the ordinary course of business. The Company’s management does not believe that any such matters, individually or in the aggregate, will have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Indemnifications In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for limited and customary indemnification obligations. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but that have not yet been made.

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation capitalized costs	$ 0.0	$ 0.0		$ 0.0	$ 0.0
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	0.5			$ 0.5
Weighted average period unrecognized stock-based compensation expense				1 year
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 33.2			$ 33.2
Weighted average period unrecognized stock-based compensation expense				2 years
Stock-based compensation vesting expense				$ 7.9	$ 17.3
Award vesting period (in years)			3 years			4 years
Accelerated compensation expense			$ 2.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 13,725	$ 14,138
Accumulated Amortization	(7,097)	(5,982)
Net Carrying Amount	$ 6,628	$ 8,156
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization Period	8 years	8 years
Gross Carrying Amount	$ 4,820	$ 4,965
Accumulated Amortization	(1,644)	(1,386)
Net Carrying Amount	$ 3,176	$ 3,579
Developed technology
Finite-Lived Intangible Assets [Line Items]
Amortization Period	3 years	3 years
Gross Carrying Amount	$ 4,542	$ 4,679
Accumulated Amortization	(4,131)	(3,482)
Net Carrying Amount	$ 411	$ 1,197
Trademarks
Finite-Lived Intangible Assets [Line Items]
Amortization Period	9 years	9 years
Gross Carrying Amount	$ 4,363	$ 4,494
Accumulated Amortization	(1,322)	(1,114)
Net Carrying Amount	$ 3,041	$ 3,380

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Schedule of Inventory

Inventory consisted of the following:


	June 30, 2024		December 31, 2023
	(in thousands)
Work in process	$	1,358	$	3,333
Finished goods	8,955		12,354
Total	$	10,313	$	15,687

Schedule of Other Current Liabilities

Accrued and other current liabilities consisted of the following:


	June 30, 2024		December 31, 2023
	(in thousands)
Gift card and site credit liabilities	$	12,230	$	11,407
Accrued vendor liabilities	5,679		4,080
Accrued taxes	4,252		4,967
Accrued compensation	4,027		4,092
Deferred revenue	3,775		6,377
Allowance for returns	3,307		3,817
Accrued other	940		1,194
Total	$	34,210	$	35,934

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Total revenue	$ 79,755	$ 82,658	$ 159,343	$ 158,580
Cost of revenue:
Total cost of revenue	23,635	26,926	47,897	51,755
Gross profit	56,120	55,732	111,446	106,825
Operating expenses:
Operations, product, and technology	38,921	39,771	79,972	78,118
Marketing	16,053	18,643	29,466	35,513
Sales, general, and administrative	15,440	16,030	33,013	32,089
Total operating expenses	70,414	74,444	142,451	145,720
Operating loss	(14,294)	(18,712)	(31,005)	(38,895)
Interest expense	(652)	(721)	(1,329)	(798)
Other income, net	998	685	1,843	1,161
Loss before provision for income taxes	(13,948)	(18,748)	(30,491)	(38,532)
Provision for income taxes	6	12	17	21
Net loss	$ (13,954)	$ (18,760)	$ (30,508)	$ (38,553)
Loss per share, basic (in dollars per share)	$ (0.13)	$ (0.18)	$ (0.28)	$ (0.37)
Loss per share, diluted (in dollars per share)	$ (0.13)	$ (0.18)	$ (0.28)	$ (0.37)
Weighted-average shares used in computing loss per share, basic (in shares)	110,997	103,905	110,145	102,911
Weighted-average shares used in computing loss per share, diluted (in shares)	110,997	103,905	110,145	102,911
Consignment
Revenue:
Total revenue	$ 63,855	$ 53,415	$ 125,080	$ 99,894
Cost of revenue:
Total cost of revenue	12,266	9,580	22,768	18,800
Product
Revenue:
Total revenue	15,900	29,243	34,263	58,686
Cost of revenue:
Total cost of revenue	$ 11,369	$ 17,346	$ 25,129	$ 32,955

Common Stock and Stockholders’ Equity - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 vote shares
Class of Stock [Line Items]
Conversion of stock (in shares) \| shares	1
Class A common stock
Class of Stock [Line Items]
Number of votes for each share	1
Class B common stock
Class of Stock [Line Items]
Number of votes for each share	10

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock-Based Compensation - Schedule of RSU Activity (Details) - Restricted stock units shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Number of Shares
Outstanding at beginning of period (in shares) \| shares	8,538
Granted (in shares) \| shares	9,735
Vested (in shares) \| shares	(3,858)
Forfeited (in shares) \| shares	(1,200)
Outstanding at end of period (in shares) \| shares	13,215
Weighted-Average Grant Date Fair Value Per Share
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 4.39
Granted (in dollars per share) \| $ / shares	1.89
Vested (in dollars per share) \| $ / shares	3.79
Forfeited (in dollars per share) \| $ / shares	4.79
Outstanding at end of period (in dollars per share) \| $ / shares	$ 2.69