Revenue from continuing operations increased by 19.5% to $310.8 million for the year ended December 31, 2025, up from $260.0 million in 2024. Loss from continuing operations significantly decreased by 49.5% to $20.2 million in 2025, compared to $40.0 million in 2024. Non-GAAP Adjusted EBITDA from continuing operations surged by 55.8% to $13.5 million in 2025, up from $8.7 million in 2024. Active Buyers grew by 29.5% to 1.7 million, and Orders increased by 25.3% to 6.1 million in 2025. The company divested 91% of its European business (Remix) on November 30, 2024, resulting in a loss from discontinued operations of $37.0 million in 2024. An Amendment No. 2 to the Loan and Security Agreement was executed on January 30, 2026, reducing the undrawn committed term loan facility from $22.5 million to $10.0 million, extending the maturity to July 10, 2030, and changing the interest rate basis to SOFR plus a margin. A restructuring fee of $100,000 was paid in connection with the loan amendment on January 30, 2026. The company recorded a $1.1 million impairment charge related to a warehouse lease asset group in Q4 2025. ThredUp will cease to be an 'emerging growth company' in March 2026 and is no longer a 'smaller reporting company' as of January 1, 2026, leading to increased disclosure requirements.