poshmark inc signage outside the nasdaq marketsite during the companys initial public offering ipo in new york us on thursday jan 14 2021 poshmarks revenue topped analysts estimates in its first financial report since going public in january but the online seller of secondhand clothing issued a weakerthanexpected sales outlook for the current quarter poshmarks stock tumbled more than 12 in afterhours trading founder and chief executive manish chandra said in an interview that demand for apparel is still suppressed in parts of the us where tighter covid restrictions remain in place different parts of the country are behaving quite differently chandra said citing florida as a strong growth market where customers are searching poshmark for dresses and bathing suits whereas new york is still catching up so we are accounting for the statewide differences for the quarter ended dec 31 poshmarks loss narrowed to 406 million or 31 cents per share from a loss of 1475 million or 120 per share a year earlier after adjusting for onetime items the company earned 5 cents a share during the quarter revenue climbed 27 to 6932 million from 5474 million a year earlier that was higher than the average revenue estimate of 68 million reported by refinitiv for the first quarter poshmark is calling for revenue to fall within a range of 755 million to 775 million analysts had been calling for 792 million on average our platform is super adaptable and flexible chandra said that has allowed us to be a growth engine in 2020 compared to a lot of other places that have suffered poshmark filed to go public in december and opened its first day of trading on the nasdaq on jan 14 at at 9750 per share the stock has fallen since hitting an alltime intraday low of 4411 last friday shares closed thursday up nearly 16 at 5946 founded in 2011 the companys online marketplace for secondhand clothes shoes and accessories is akin to ebay and etsy poshmark connects buyers with sellers who often list items from their own closet and it makes money by taking a cut of every transaction consumers especially younger ones are increasingly turning to these types of internet marketplaces for secondhand goods a number of players are looking to gain market share including luxury consignment site therealreal sneaker reseller stockx and virtual thrift store thredup the latter filed for its ipo earlier this month poshmark said its count of active buyers reached 65 million in the fourth quarter up 20 year over year the company defines active buyers as unique users who have purchased at least one item on the platform in the trailing 12 months regardless of returns and cancellations cowen  co has previously estimated that the resale market in the us is valued at 30 billion to 35 billion find the full earnings press release from poshmark here