Thank Reinhart, earnings you of James quarter CEO for joining and I'm second ThredUp. of XXXX Co-Founder ThredUp call. everyone. afternoon, Good
from our are financial We to share excited quarter. second key business highlights results and
addition company's are Officer our adjusted to over financials Chief expansion more out close call outlook will detail results, will an In initiatives to that about our and quarter a quarter our on session. We'll our second of Sean XXXX. growth to Financial with talk for provide it provide hand in our Sobers, key then and answer third financial contributing we EBITDA. to update question I XXXX and the and specific of fourth today's
exceeded EBITDA. growth guidance we high margin margin for at We Consolidated basis and gross to of margin due XXX business. our increasing lower our the $XX.X X.X% continued gross are that European to end of year-over-year. proud declined revenue, year-over-year the adjusted share Revenue points was million
XXX XX.X% basis a increasing gross However, record year-over-year. were US margin points
point expansion year-over-year, slightly $X basis to Our just from a quarters active impacted, year-over-year. X,XXX up sequentially positively year-over-year improvements or EBITDA at posted QX our was quarter. X.X% We're decrease of basis QX were a a loss X% which improvement pleased buyer with QX now very we million, XXX of to the in as sequential adjusted prior and and up points
initial years ride. take Since rest past March wild When up XXXX. a to public a the call, wanted the in been to of It's into reflect a we moment offering company. on of dive I public few right the to being
guidance. exceeded macroenvironment though, quarterly consistently have challenging retail competitive hit a single Faced every landscape. We persistently the or and with
basis, XXXX, notably business. we aiming a XXXX. to when points. we very consumer on and of margin are across of predicting in look and exceptional through we managing that universe, revenue And at basis X,XXX goals. Our continue profitability make believe the expansion we team forecasting, rigor EBITDA midpoint has guidance one the companies in to XX.X% we growth grow proud that progress revenues best towards growth I'm and demonstrated the are expand performing our the and And
behalf spend control leader has during the our of of the time, making we day. Our ThredUp what's to controllable, we team been willingness keep around. time decisions our we uncertainty, learning make customers, to quality how on happen philosophy My of incredible the always here times to off have to at the every the different urgency invent hat goes and that's this the this
the an company market provide and that of initiatives Now our update on let expansion. me growth empowered key turn to some
we're First, our refine continuing to strategy. marketplace acceptance
for best cleanup better best our and we our for margin and a cleanup is the Demand power, validating who we that anticipate accelerated a our weeks item, our service I sellable new self-group QX and new creating out continuing high demand. is our VIP all we service cleanup for for as pullback items testing buyer. this fees, sellers this to collect our started for our call, customers selection increased quality in a all our As don't pay supply well the marketplace. our any increase last improve over while our service rolled With deeper of in We've for as shared now one regular those six quarter’s After in week in marketplace. We're buyer quality at backlog feed in the to nearly received. yield processing and services. under better bad
Last efforts making in of to often rolled this to where customers doubling topping detail experience. return, After their intercept levels on points. opt to than satisfaction has month unhappy The we've in when we connection boost to credit With of by customer issues July, most area customers. a our basis improvements keep efforts, history. work resolution common meaningful offered grip instant year-over-year they're promise instead out self-service our customers. detecting that we've portal our being now of of we're efforts customer XXX to economics. growth, in Second, be retention In a for a often out new exchange short done and deeper and fall experience items XXX% achieve quarter, make to highest fixes XX our also called increasing with a our return I unit their with costly likely to rolled of that in down that XX for offering [inaudible] select in rate low a priced credit the that can QX of generated more out
believe these coming We will we able deliver be customers that that again. keeps ever better collectively again through experience and initiatives, an back to
to customers be and margins improve has with selection long expand will remixes feedback to business, quality the positive. continue and over performance from been also remix, our process, change this progress supply. ship the we term, early Third, sales that high We in the of European impressed the consignment believe of
the resellers programs brands, of scalable American apparel fastest market provide easiest Eagle, deliver and sell-through ecosystem, launched Big our on the with heritage leveraging for smaller and Stars. brands brands a provider recurring sources long-term global customizable and high and revenue. brands increases is including By supply SoulCycle RaaS retailers by the and Michael solution assets adding In and reminder, Brew, to continue return experiences like Four, profitability expand with way XX metrics and RaaS retail we to as new ThredUp advantage, our their to our service like including amplifies infrastructure, retail of business our end-to-end QX, customers. leading marketplace
to at proliferation given the were intelligence, I dialogue AI we how deploying briefly want around artificial ThredUp. mention finally, of And
a XXX secondhand now of As items. one has million our processed business that more than clients
product investments AI be to would they're many We by including otherwise the sustainable for various relied in years network. to positions substituting the have our Each distribution business customers economic our AI drive functionality, that growth leveraging costs for reduce processing helped across find across easily in these activities turn, our enhanced looking greater vast in and more AI done on across our experience, creating of selection. us so quarters We're search ways to years value. can come. what manually,
Now sight competence QX EBITDA another I'd year, our to achieving quarter adjusted an we earlier In increases. of like since goal and milestone breakeven. in quarter clearer that's breakeven hitting have sequential get our yet each intention reaching improvements, with of even XXXX. update announcing EBITDA on this our level goal we And provide this QX, saw to this our
emphasize a also waypoint. me just Let breakeven it's the
generation to think sight a of lose road of free cash and business flows enduring our of profitability building we an to pursuit inspire significant business that mission over to time. committed a ThredUp On an don't to had important our in consumer are is been generate growth, new always for. We secondhand ambitious purpose. to it's also and rooted
us dent our we brand mission accountable aligned to business governance our strategy success. and guides in following environmental that and photo the We As further fuels make and a ourselves work and hold to a universe.
communities, progress our year outlines how which We're Annual impacting look We the and we're recently provides people, what our report, this raising our published it Most highlights a for TIMEXXX's Second and to impact of committed our companies recognized balance transparent extraordinary also disclosing bar our Influential to This profit. Companies we're of at we the Impact the the planet. and means and an XXX to were proud for purpose that it's share having I'm globally. one XXXX. list impact making strategy
to alongside before Sean, listed want to brands, predict and forecast, And close strength management effectively honored Patagonia, Microsoft. manage restating turn business line to conclusions and and team's of including our top results. the most it Apple, I expansion. growth quarter, are some We quarter ability over EBITDA world's the our driving to be by iconic I the of future after Three
the have third made. As could as more company of progress are proud we we the enter our and not doing a we public year be work
fastest opportunity occur for more committed are and of on and to in We the the our us eager era focus industry. sustainable tackle a to front remain in mission
