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Side-by-side financial comparison of ThredUp Inc. (TDUP) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
ThredUp Inc. is the larger business by last-quarter revenue ($79.7M vs $73.5M, roughly 1.1× Target Hospitality Corp.). ThredUp Inc. runs the higher net margin — -7.0% vs -20.3%, a 13.3% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 18.5%). Over the past eight quarters, ThredUp Inc.'s revenue compounded faster (11.1% CAGR vs 0.7%).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
TDUP vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $73.5M |
| Net Profit | $-5.6M | $-14.9M |
| Gross Margin | 79.6% | 9.6% |
| Operating Margin | -8.4% | -22.9% |
| Net Margin | -7.0% | -20.3% |
| Revenue YoY | 18.5% | 22.0% |
| Net Profit YoY | 74.3% | -219.1% |
| EPS (diluted) | $-0.06 | $-0.14 |
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.
| Q4 25 | $79.7M | $73.5M | ||
| Q3 25 | $82.2M | $91.6M | ||
| Q2 25 | $77.7M | $54.9M | ||
| Q1 25 | $71.3M | $54.9M | ||
| Q4 24 | $67.3M | $60.2M | ||
| Q3 24 | $61.5M | $65.8M | ||
| Q2 24 | $66.7M | $67.5M | ||
| Q1 24 | $64.5M | $72.4M |
| Q4 25 | $-5.6M | $-14.9M | ||
| Q3 25 | $-4.2M | $-795.0K | ||
| Q2 25 | $-5.2M | $-14.9M | ||
| Q1 25 | $-5.2M | $-6.5M | ||
| Q4 24 | $-21.7M | $12.5M | ||
| Q3 24 | $-24.8M | $20.0M | ||
| Q2 24 | $-14.0M | $18.4M | ||
| Q1 24 | $-16.6M | $20.4M |
| Q4 25 | 79.6% | 9.6% | ||
| Q3 25 | 79.4% | 19.6% | ||
| Q2 25 | 79.5% | -0.6% | ||
| Q1 25 | 79.1% | 32.7% | ||
| Q4 24 | 80.4% | 61.5% | ||
| Q3 24 | 79.3% | 68.7% | ||
| Q2 24 | 78.8% | 69.4% | ||
| Q1 24 | 80.1% | 67.8% |
| Q4 25 | -8.4% | -22.9% | ||
| Q3 25 | -5.3% | 0.1% | ||
| Q2 25 | -6.8% | -30.8% | ||
| Q1 25 | -7.6% | -2.0% | ||
| Q4 24 | -12.1% | 34.5% | ||
| Q3 24 | -17.0% | 42.5% | ||
| Q2 24 | -14.4% | 43.8% | ||
| Q1 24 | -19.2% | 42.0% |
| Q4 25 | -7.0% | -20.3% | ||
| Q3 25 | -5.2% | -0.9% | ||
| Q2 25 | -6.7% | -27.2% | ||
| Q1 25 | -7.3% | -11.8% | ||
| Q4 24 | -32.3% | 20.8% | ||
| Q3 24 | -40.3% | 30.4% | ||
| Q2 24 | -20.9% | 27.2% | ||
| Q1 24 | -25.7% | 28.2% |
| Q4 25 | $-0.06 | $-0.14 | ||
| Q3 25 | $-0.03 | $-0.01 | ||
| Q2 25 | $-0.04 | $-0.15 | ||
| Q1 25 | $-0.04 | $-0.07 | ||
| Q4 24 | $-0.19 | $0.12 | ||
| Q3 24 | $-0.22 | $0.20 | ||
| Q2 24 | $-0.13 | $0.18 | ||
| Q1 24 | $-0.15 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $38.6M | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $59.2M | $389.3M |
| Total Assets | $167.2M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $8.3M | ||
| Q3 25 | $46.2M | $30.4M | ||
| Q2 25 | $41.0M | $19.2M | ||
| Q1 25 | $41.1M | $34.5M | ||
| Q4 24 | $31.9M | $190.7M | ||
| Q3 24 | $43.7M | $177.7M | ||
| Q2 24 | $44.8M | $154.3M | ||
| Q1 24 | $50.1M | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $59.2M | $389.3M | ||
| Q3 25 | $59.1M | $402.4M | ||
| Q2 25 | $60.2M | $401.3M | ||
| Q1 25 | $56.1M | $415.3M | ||
| Q4 24 | $56.3M | $421.1M | ||
| Q3 24 | $69.3M | $417.6M | ||
| Q2 24 | $86.5M | $397.2M | ||
| Q1 24 | $93.5M | $375.5M |
| Q4 25 | $167.2M | $530.2M | ||
| Q3 25 | $172.5M | $541.2M | ||
| Q2 25 | $173.6M | $533.7M | ||
| Q1 25 | $172.5M | $562.5M | ||
| Q4 24 | $171.2M | $725.8M | ||
| Q3 24 | $214.9M | $709.8M | ||
| Q2 24 | $231.2M | $697.0M | ||
| Q1 24 | $244.3M | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $-1.5M | $5.7M |
| Free Cash FlowOCF − Capex | $-3.2M | — |
| FCF MarginFCF / Revenue | -4.0% | — |
| Capex IntensityCapex / Revenue | 2.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.5M | $5.7M | ||
| Q3 25 | $6.0M | $53.4M | ||
| Q2 25 | $344.0K | $11.1M | ||
| Q1 25 | $5.7M | $3.9M | ||
| Q4 24 | $663.0K | $30.6M | ||
| Q3 24 | $3.3M | $31.4M | ||
| Q2 24 | $-5.0M | $39.1M | ||
| Q1 24 | $1.4M | $50.6M |
| Q4 25 | $-3.2M | — | ||
| Q3 25 | $2.4M | — | ||
| Q2 25 | $-2.9M | — | ||
| Q1 25 | $3.9M | $-11.6M | ||
| Q4 24 | $-1.8M | — | ||
| Q3 24 | $1.2M | — | ||
| Q2 24 | $-5.8M | — | ||
| Q1 24 | $267.0K | — |
| Q4 25 | -4.0% | — | ||
| Q3 25 | 2.9% | — | ||
| Q2 25 | -3.8% | — | ||
| Q1 25 | 5.5% | -21.1% | ||
| Q4 24 | -2.7% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | -8.7% | — | ||
| Q1 24 | 0.4% | — |
| Q4 25 | 2.2% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 2.5% | 28.2% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 3.5% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TDUP
Segment breakdown not available.
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
