TDUP (TDUP) financial statements
TDUP reported revenue of $311M in fiscal 2025, up 11.3% a year over 6 years.
Net income was -$20M and the operating margin -7.0%, against -22.5% in 2019.
Free cash flow was $180,000.
The diluted share count rose 1086% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TDUP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $164M | $186M | $252M | $288M | $259M | $260M | $311M |
| Cost of revenue | $51M | $58M | $74M | $96M | $60M | $53M | $64M |
| Gross profit | $113M | $128M | $178M | $192M | $198M | $207M | $247M |
| Research and development | $19M | $21M | $29M | $38M | $33M | $31M | $32M |
| Selling, general and admin | $22M | $29M | $49M | $62M | $57M | $57M | $57M |
| Operating income | -$37M | -$47M | -$62M | -$89M | -$53M | -$41M | -$22M |
| Interest expense | $1M | $1M | $2M | $805,000 | $2M | $3M | $2M |
| Pre-tax income | -$38M | -$48M | -$63M | -$92M | -$52M | -$40M | -$20M |
| Income tax | $36,000 | $56,000 | $80,000 | $35,000 | $19,000 | $29,000 | $59,000 |
| Net income | -$38M | -$48M | -$63M | -$92M | -$71M | -$77M | -$20M |
| EPS (diluted) | -$3.72 | -$4.14 | -$0.82 | -$0.92 | -$0.68 | -$0.69 | -$0.17 |
| Diluted shares | 10M | 12M | 77M | 100M | 105M | 112M | 122M |
| Gross margin | 68.7% | 68.9% | 70.7% | 66.7% | 76.8% | 79.7% | 79.4% |
| Operating margin | -22.5% | -25.0% | -24.8% | -31.0% | -20.5% | -15.6% | -7.0% |
| Net margin | -23.3% | -25.7% | -25.1% | -32.0% | -27.6% | -29.6% | -6.5% |
Balance sheet
Fiscal years, from TDUP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $88M | $64M | $206M | $105M | $62M | $44M | $48M |
| Receivables | — | $2M | $4M | $5M | $5M | $4M | $2M |
| Inventory | — | $4M | $10M | $18M | $3M | $690,000 | — |
| Total current assets | — | $75M | $228M | $134M | $94M | $57M | $57M |
| Property, plant and equipment | — | $41M | $55M | $92M | $78M | $68M | $67M |
| Goodwill | — | $0 | $12M | $12M | $11M | $11M | $11M |
| Total assets | — | $143M | $361M | $302M | $250M | $171M | $167M |
| Total current liabilities | — | $63M | $89M | $84M | $77M | $62M | $62M |
| Long-term debt | — | $31M | $28M | $26M | $22M | $18M | $14M |
| Total liabilities | — | $118M | $155M | $162M | $146M | $115M | $108M |
| Shareholders' equity | -$183M | -$222M | $206M | $140M | $104M | $56M | $59M |
| Net debt | -$88M | -$30M | -$49M | -$8M | -$28M | -$10M | -$20M |
Cash flow
Fiscal years, from TDUP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10M | -$19M | -$35M | -$52M | -$23M | $5M | $11M |
| Capital spending | $10M | $19M | $20M | $43M | $13M | $7M | $10M |
| Free cash flow | -$20M | -$39M | -$55M | -$95M | -$36M | -$2M | $180,000 |
| Stock-based compensation | $8M | $7M | $13M | $27M | $30M | $26M | $19M |
| Net borrowing | -$12M | -$1M | -$4M | -$6M | -$4M | -$4M | -$4M |
| Free cash flow margin | -12.0% | -20.7% | -21.8% | -33.1% | -13.8% | -0.6% | 0.1% |
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Open TDUP in InvestinglyQuestions
What was TDUP's revenue in 2025?
$311M in fiscal 2025, from its 10-K filing.
How much free cash flow does TDUP generate?
$180,000 in fiscal 2025 (operating cash flow minus capital spending).
From TDUP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.