vs
Side-by-side financial comparison of ThredUp Inc. (TDUP) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
ThredUp Inc. is the larger business by last-quarter revenue ($79.7M vs $51.6M, roughly 1.5× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -7.0%, a 74.3% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 18.5%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-3.2M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
TDUP vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $51.6M |
| Net Profit | $-5.6M | $34.8M |
| Gross Margin | 79.6% | — |
| Operating Margin | -8.4% | 97.0% |
| Net Margin | -7.0% | 67.3% |
| Revenue YoY | 18.5% | 32.8% |
| Net Profit YoY | 74.3% | 67.0% |
| EPS (diluted) | $-0.06 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $82.2M | $49.1M | ||
| Q2 25 | $77.7M | $47.6M | ||
| Q1 25 | $71.3M | $37.5M | ||
| Q4 24 | $67.3M | $38.9M | ||
| Q3 24 | $61.5M | $35.1M | ||
| Q2 24 | $66.7M | $32.4M | ||
| Q1 24 | $64.5M | $29.5M |
| Q4 25 | $-5.6M | $34.8M | ||
| Q3 25 | $-4.2M | $25.4M | ||
| Q2 25 | $-5.2M | $26.0M | ||
| Q1 25 | $-5.2M | $18.9M | ||
| Q4 24 | $-21.7M | $20.8M | ||
| Q3 24 | $-24.8M | $15.8M | ||
| Q2 24 | $-14.0M | $14.8M | ||
| Q1 24 | $-16.6M | $17.3M |
| 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 24 | 80.1% | — |
| Q4 25 | -8.4% | 97.0% | ||
| Q3 25 | -5.3% | 72.1% | ||
| Q2 25 | -6.8% | 71.3% | ||
| Q1 25 | -7.6% | 71.7% | ||
| Q4 24 | -12.1% | 82.5% | ||
| Q3 24 | -17.0% | 60.6% | ||
| Q2 24 | -14.4% | 61.3% | ||
| Q1 24 | -19.2% | 78.8% |
| Q4 25 | -7.0% | 67.3% | ||
| Q3 25 | -5.2% | 51.7% | ||
| Q2 25 | -6.7% | 54.6% | ||
| Q1 25 | -7.3% | 50.4% | ||
| Q4 24 | -32.3% | 53.5% | ||
| Q3 24 | -40.3% | 45.1% | ||
| Q2 24 | -20.9% | 45.6% | ||
| Q1 24 | -25.7% | 58.5% |
| Q4 25 | $-0.06 | $0.90 | ||
| Q3 25 | $-0.03 | $0.65 | ||
| Q2 25 | $-0.04 | $0.69 | ||
| Q1 25 | $-0.04 | $0.51 | ||
| Q4 24 | $-0.19 | $0.56 | ||
| Q3 24 | $-0.22 | $0.44 | ||
| Q2 24 | $-0.13 | $0.42 | ||
| Q1 24 | $-0.15 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $59.2M | $672.5M |
| Total Assets | $167.2M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $92.1M | ||
| Q3 25 | $46.2M | $99.0M | ||
| Q2 25 | $41.0M | $79.6M | ||
| Q1 25 | $41.1M | $51.7M | ||
| Q4 24 | $31.9M | $49.9M | ||
| Q3 24 | $43.7M | $44.1M | ||
| Q2 24 | $44.8M | $47.4M | ||
| Q1 24 | $50.1M | $34.8M |
| Q4 25 | $59.2M | $672.5M | ||
| Q3 25 | $59.1M | $634.3M | ||
| Q2 25 | $60.2M | $597.9M | ||
| Q1 25 | $56.1M | $563.2M | ||
| Q4 24 | $56.3M | $516.9M | ||
| Q3 24 | $69.3M | $484.6M | ||
| Q2 24 | $86.5M | $471.3M | ||
| Q1 24 | $93.5M | $452.9M |
| Q4 25 | $167.2M | $7.4B | ||
| Q3 25 | $172.5M | $7.0B | ||
| Q2 25 | $173.6M | $6.5B | ||
| Q1 25 | $172.5M | $6.0B | ||
| Q4 24 | $171.2M | $5.5B | ||
| Q3 24 | $214.9M | $5.2B | ||
| Q2 24 | $231.2M | $4.9B | ||
| Q1 24 | $244.3M | $4.6B |
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 | $18.2M |
| Free Cash FlowOCF − Capex | $-3.2M | $17.9M |
| FCF MarginFCF / Revenue | -4.0% | 34.6% |
| Capex IntensityCapex / Revenue | 2.2% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $180.0K | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.5M | $18.2M | ||
| Q3 25 | $6.0M | $11.5M | ||
| Q2 25 | $344.0K | $7.7M | ||
| Q1 25 | $5.7M | $3.5M | ||
| Q4 24 | $663.0K | $37.8M | ||
| Q3 24 | $3.3M | $-17.6M | ||
| Q2 24 | $-5.0M | $11.5M | ||
| Q1 24 | $1.4M | $10.6M |
| Q4 25 | $-3.2M | $17.9M | ||
| Q3 25 | $2.4M | $11.4M | ||
| Q2 25 | $-2.9M | $7.6M | ||
| Q1 25 | $3.9M | $3.5M | ||
| Q4 24 | $-1.8M | $37.5M | ||
| Q3 24 | $1.2M | $-17.6M | ||
| Q2 24 | $-5.8M | $11.4M | ||
| Q1 24 | $267.0K | $10.5M |
| Q4 25 | -4.0% | 34.6% | ||
| Q3 25 | 2.9% | 23.2% | ||
| Q2 25 | -3.8% | 15.9% | ||
| Q1 25 | 5.5% | 9.2% | ||
| Q4 24 | -2.7% | 96.4% | ||
| Q3 24 | 2.0% | -50.3% | ||
| Q2 24 | -8.7% | 35.1% | ||
| Q1 24 | 0.4% | 35.8% |
| Q4 25 | 2.2% | 0.5% | ||
| Q3 25 | 4.4% | 0.1% | ||
| Q2 25 | 4.2% | 0.2% | ||
| Q1 25 | 2.5% | 0.2% | ||
| Q4 24 | 3.7% | 0.7% | ||
| Q3 24 | 3.5% | 0.2% | ||
| Q2 24 | 1.3% | 0.3% | ||
| Q1 24 | 1.7% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TDUP
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
