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Side-by-side financial comparison of ThredUp Inc. (TDUP) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $79.7M, roughly 1.2× ThredUp Inc.). Vericel Corp runs the higher net margin — 25.0% vs -7.0%, a 32.0% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 18.5%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-3.2M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 11.1%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
TDUP vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $92.9M |
| Net Profit | $-5.6M | $23.2M |
| Gross Margin | 79.6% | 78.7% |
| Operating Margin | -8.4% | 24.1% |
| Net Margin | -7.0% | 25.0% |
| Revenue YoY | 18.5% | 23.3% |
| Net Profit YoY | 74.3% | 17.3% |
| EPS (diluted) | $-0.06 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $82.2M | $67.5M | ||
| Q2 25 | $77.7M | $63.2M | ||
| Q1 25 | $71.3M | $52.6M | ||
| Q4 24 | $67.3M | $75.4M | ||
| Q3 24 | $61.5M | $57.9M | ||
| Q2 24 | $66.7M | $52.7M | ||
| Q1 24 | $64.5M | $51.3M |
| Q4 25 | $-5.6M | $23.2M | ||
| Q3 25 | $-4.2M | $5.1M | ||
| Q2 25 | $-5.2M | $-553.0K | ||
| Q1 25 | $-5.2M | $-11.2M | ||
| Q4 24 | $-21.7M | $19.8M | ||
| Q3 24 | $-24.8M | $-901.0K | ||
| Q2 24 | $-14.0M | $-4.7M | ||
| Q1 24 | $-16.6M | $-3.9M |
| Q4 25 | 79.6% | 78.7% | ||
| Q3 25 | 79.4% | 73.5% | ||
| Q2 25 | 79.5% | 73.7% | ||
| Q1 25 | 79.1% | 69.0% | ||
| Q4 24 | 80.4% | 77.6% | ||
| Q3 24 | 79.3% | 71.9% | ||
| Q2 24 | 78.8% | 69.5% | ||
| Q1 24 | 80.1% | 68.9% |
| Q4 25 | -8.4% | 24.1% | ||
| Q3 25 | -5.3% | 5.1% | ||
| Q2 25 | -6.8% | -3.2% | ||
| Q1 25 | -7.6% | -24.3% | ||
| Q4 24 | -12.1% | 24.5% | ||
| Q3 24 | -17.0% | -4.3% | ||
| Q2 24 | -14.4% | -11.5% | ||
| Q1 24 | -19.2% | -10.7% |
| Q4 25 | -7.0% | 25.0% | ||
| Q3 25 | -5.2% | 7.5% | ||
| Q2 25 | -6.7% | -0.9% | ||
| Q1 25 | -7.3% | -21.4% | ||
| Q4 24 | -32.3% | 26.3% | ||
| Q3 24 | -40.3% | -1.6% | ||
| Q2 24 | -20.9% | -8.9% | ||
| Q1 24 | -25.7% | -7.5% |
| Q4 25 | $-0.06 | $0.46 | ||
| Q3 25 | $-0.03 | $0.10 | ||
| Q2 25 | $-0.04 | $-0.01 | ||
| Q1 25 | $-0.04 | $-0.23 | ||
| Q4 24 | $-0.19 | $0.40 | ||
| Q3 24 | $-0.22 | $-0.02 | ||
| Q2 24 | $-0.13 | $-0.10 | ||
| Q1 24 | $-0.15 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $59.2M | $354.6M |
| Total Assets | $167.2M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $137.5M | ||
| Q3 25 | $46.2M | $135.4M | ||
| Q2 25 | $41.0M | $116.9M | ||
| Q1 25 | $41.1M | $112.9M | ||
| Q4 24 | $31.9M | $116.2M | ||
| Q3 24 | $43.7M | $101.7M | ||
| Q2 24 | $44.8M | $102.5M | ||
| Q1 24 | $50.1M | $110.6M |
| Q4 25 | $59.2M | $354.6M | ||
| Q3 25 | $59.1M | $321.9M | ||
| Q2 25 | $60.2M | $306.8M | ||
| Q1 25 | $56.1M | $295.5M | ||
| Q4 24 | $56.3M | $292.0M | ||
| Q3 24 | $69.3M | $257.5M | ||
| Q2 24 | $86.5M | $243.0M | ||
| Q1 24 | $93.5M | $233.9M |
| Q4 25 | $167.2M | $488.0M | ||
| Q3 25 | $172.5M | $453.3M | ||
| Q2 25 | $173.6M | $435.6M | ||
| Q1 25 | $172.5M | $424.6M | ||
| Q4 24 | $171.2M | $432.7M | ||
| Q3 24 | $214.9M | $390.4M | ||
| Q2 24 | $231.2M | $376.8M | ||
| Q1 24 | $244.3M | $356.7M |
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 | $15.0M |
| Free Cash FlowOCF − Capex | $-3.2M | $12.8M |
| FCF MarginFCF / Revenue | -4.0% | 13.8% |
| Capex IntensityCapex / Revenue | 2.2% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $180.0K | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.5M | $15.0M | ||
| Q3 25 | $6.0M | $22.1M | ||
| Q2 25 | $344.0K | $8.2M | ||
| Q1 25 | $5.7M | $6.6M | ||
| Q4 24 | $663.0K | $22.2M | ||
| Q3 24 | $3.3M | $10.2M | ||
| Q2 24 | $-5.0M | $18.5M | ||
| Q1 24 | $1.4M | $7.2M |
| Q4 25 | $-3.2M | $12.8M | ||
| Q3 25 | $2.4M | $19.5M | ||
| Q2 25 | $-2.9M | $81.0K | ||
| Q1 25 | $3.9M | $-7.6M | ||
| Q4 24 | $-1.8M | $8.5M | ||
| Q3 24 | $1.2M | $-9.2M | ||
| Q2 24 | $-5.8M | $1.8M | ||
| Q1 24 | $267.0K | $-6.8M |
| Q4 25 | -4.0% | 13.8% | ||
| Q3 25 | 2.9% | 28.8% | ||
| Q2 25 | -3.8% | 0.1% | ||
| Q1 25 | 5.5% | -14.5% | ||
| Q4 24 | -2.7% | 11.2% | ||
| Q3 24 | 2.0% | -15.9% | ||
| Q2 24 | -8.7% | 3.4% | ||
| Q1 24 | 0.4% | -13.3% |
| Q4 25 | 2.2% | 2.4% | ||
| Q3 25 | 4.4% | 3.9% | ||
| Q2 25 | 4.2% | 12.9% | ||
| Q1 25 | 2.5% | 27.0% | ||
| Q4 24 | 3.7% | 18.3% | ||
| Q3 24 | 3.5% | 33.5% | ||
| Q2 24 | 1.3% | 31.8% | ||
| Q1 24 | 1.7% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TDUP
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
