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Side-by-side financial comparison of Finwise Bancorp (FINW) and ThredUp Inc. (TDUP). Click either name above to swap in a different company.
ThredUp Inc. is the larger business by last-quarter revenue ($81.7M vs $42.7M, roughly 1.9× Finwise Bancorp). Finwise Bancorp runs the higher net margin — 6.4% vs -7.9%, a 14.3% gap on every dollar of revenue. Over the past eight quarters, Finwise Bancorp's revenue compounded faster (47.0% CAGR vs 10.6%).
Finwise Bancorp is a U.S.-based financial holding company that operates primarily through its community banking subsidiary. It offers a full suite of retail and commercial financial services, including deposit accounts, personal loans, mortgage products, small business financing, and wealth management solutions, serving local retail consumers and small to medium-sized business clients across its regional operating markets.
ThredUp Inc. is an American company that operates an online resale platform specializing in the sale of second-hand clothing, footwear, and accessories. Founded in 2009 and headquartered in Oakland, California, it has established itself as one of the leading resale fashion marketplaces.
FINW vs TDUP — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $42.7M | $81.7M |
| Net Profit | $2.7M | $-6.5M |
| Gross Margin | — | 79.2% |
| Operating Margin | — | 12.8% |
| Net Margin | 6.4% | -7.9% |
| Revenue YoY | — | 14.6% |
| Net Profit YoY | — | -24.1% |
| EPS (diluted) | $0.20 | $-0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $42.7M | $81.7M | ||
| Q4 25 | $46.9M | $79.7M | ||
| Q3 25 | $36.7M | $82.2M | ||
| Q2 25 | $25.1M | $77.7M | ||
| Q1 25 | $22.1M | $71.3M | ||
| Q4 24 | $21.1M | $67.3M | ||
| Q3 24 | $20.8M | $61.5M | ||
| Q2 24 | $19.8M | $66.7M |
| Q1 26 | $2.7M | $-6.5M | ||
| Q4 25 | $3.9M | $-5.6M | ||
| Q3 25 | $4.9M | $-4.2M | ||
| Q2 25 | $4.1M | $-5.2M | ||
| Q1 25 | $3.2M | $-5.2M | ||
| Q4 24 | $2.8M | $-21.7M | ||
| Q3 24 | $3.5M | $-24.8M | ||
| Q2 24 | $3.2M | $-14.0M |
| Q1 26 | — | 79.2% | ||
| Q4 25 | — | 79.6% | ||
| Q3 25 | — | 79.4% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 79.1% | ||
| Q4 24 | — | 80.4% | ||
| Q3 24 | — | 79.3% | ||
| Q2 24 | — | 78.8% |
| Q1 26 | — | 12.8% | ||
| Q4 25 | 11.7% | -8.4% | ||
| Q3 25 | 17.5% | -5.3% | ||
| Q2 25 | 21.7% | -6.8% | ||
| Q1 25 | 20.1% | -7.6% | ||
| Q4 24 | 17.5% | -12.1% | ||
| Q3 24 | 22.2% | -17.0% | ||
| Q2 24 | 21.1% | -14.4% |
| Q1 26 | 6.4% | -7.9% | ||
| Q4 25 | 8.4% | -7.0% | ||
| Q3 25 | 13.3% | -5.2% | ||
| Q2 25 | 16.3% | -6.7% | ||
| Q1 25 | 14.4% | -7.3% | ||
| Q4 24 | 13.2% | -32.3% | ||
| Q3 24 | 16.6% | -40.3% | ||
| Q2 24 | 16.1% | -20.9% |
| Q1 26 | $0.20 | $-0.05 | ||
| Q4 25 | $0.27 | $-0.06 | ||
| Q3 25 | $0.34 | $-0.03 | ||
| Q2 25 | $0.29 | $-0.04 | ||
| Q1 25 | $0.23 | $-0.04 | ||
| Q4 24 | $0.19 | $-0.19 | ||
| Q3 24 | $0.25 | $-0.22 | ||
| Q2 24 | $0.24 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $39.0M |
| Total DebtLower is stronger | — | $17.7M |
| Stockholders' EquityBook value | $196.6M | $59.4M |
| Total Assets | $899.4M | $172.4M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.0M | ||
| Q4 25 | $163.4M | $38.6M | ||
| Q3 25 | $105.6M | $46.2M | ||
| Q2 25 | $90.1M | $41.0M | ||
| Q1 25 | $120.3M | $41.1M | ||
| Q4 24 | $109.2M | $31.9M | ||
| Q3 24 | $85.8M | $43.7M | ||
| Q2 24 | $89.0M | $44.8M |
| Q1 26 | — | $17.7M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $196.6M | $59.4M | ||
| Q4 25 | $193.2M | $59.2M | ||
| Q3 25 | $187.8M | $59.1M | ||
| Q2 25 | $182.0M | $60.2M | ||
| Q1 25 | $177.4M | $56.1M | ||
| Q4 24 | $173.7M | $56.3M | ||
| Q3 24 | $170.4M | $69.3M | ||
| Q2 24 | $165.8M | $86.5M |
| Q1 26 | $899.4M | $172.4M | ||
| Q4 25 | $977.1M | $167.2M | ||
| Q3 25 | $899.9M | $172.5M | ||
| Q2 25 | $842.5M | $173.6M | ||
| Q1 25 | $804.1M | $172.5M | ||
| Q4 24 | $746.0M | $171.2M | ||
| Q3 24 | $683.0M | $214.9M | ||
| Q2 24 | $617.8M | $231.2M |
| Q1 26 | — | 0.30× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $4.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.8M | ||
| Q4 25 | $-28.4M | $-1.5M | ||
| Q3 25 | $3.5M | $6.0M | ||
| Q2 25 | $-18.3M | $344.0K | ||
| Q1 25 | $-21.6M | $5.7M | ||
| Q4 24 | $-15.0M | $663.0K | ||
| Q3 24 | $-9.8M | $3.3M | ||
| Q2 24 | $-7.6M | $-5.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-28.6M | $-3.2M | ||
| Q3 25 | $3.4M | $2.4M | ||
| Q2 25 | $-19.8M | $-2.9M | ||
| Q1 25 | $-23.3M | $3.9M | ||
| Q4 24 | $-16.1M | $-1.8M | ||
| Q3 24 | $-13.4M | $1.2M | ||
| Q2 24 | $-7.7M | $-5.8M |
| Q1 26 | — | — | ||
| Q4 25 | -61.1% | -4.0% | ||
| Q3 25 | 9.4% | 2.9% | ||
| Q2 25 | -79.0% | -3.8% | ||
| Q1 25 | -105.3% | 5.5% | ||
| Q4 24 | -76.0% | -2.7% | ||
| Q3 24 | -64.3% | 2.0% | ||
| Q2 24 | -38.7% | -8.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.2% | ||
| Q3 25 | 0.1% | 4.4% | ||
| Q2 25 | 5.8% | 4.2% | ||
| Q1 25 | 7.4% | 2.5% | ||
| Q4 24 | 5.1% | 3.7% | ||
| Q3 24 | 17.2% | 3.5% | ||
| Q2 24 | 0.3% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | -7.26× | — | ||
| Q3 25 | 0.71× | — | ||
| Q2 25 | -4.48× | — | ||
| Q1 25 | -6.78× | — | ||
| Q4 24 | -5.37× | — | ||
| Q3 24 | -2.84× | — | ||
| Q2 24 | -2.39× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FINW
| Net Interest Income | $28.1M | 66% |
| Noninterest Income | $14.6M | 34% |
TDUP
Segment breakdown not available.
