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has publicly filed its 听

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The company, known for being a social platform to buy and sell fashion and accessories, confidentially filed to go public in September. And with the year coming to a close, it was uncertain whether the company鈥檚 S-1 would be publicly released in 2020.听

Now, the numbers are out. Let鈥檚 dive in.

The Money

Poshmark reported net revenue of nearly $192.8 million for the nine months that ended on Sept. 30, 2020. That鈥檚 up about 28 percent from the same period in 2019.听

Perhaps what鈥檚 most notable about Poshmark鈥檚 finances is that the company turned a quarterly profit for the first time for the three months that ended on June 30, 2020. Poshmark听 counts 70 million users on its platform and more than 130 million items sold.听

While the company has now experienced being profitable, it hasn鈥檛 been totally shielded from the negative effects of the COVID-19 pandemic. In the S-1, the company reported that in the first few weeks of the pandemic in the U.S., it experienced a 鈥渟ignificant decrease鈥� in gross merchandise value on its platform. Buyer and seller activity rebounded over the summer, but Poshmark noted that consumer discretionary spending could be affected as the COVID-19 economic situation evolves.

鈥淭o the extent that federal and state governmental aid programs initiated in connection with the pandemic are reduced or terminated, consumer discretionary spending would likely decrease, which would have a negative impact on our business. In addition, although the COVID-19 pandemic has accelerated the trend toward eCommerce, it has negatively affected demand for apparel and fashion as retail categories,鈥� Poshmark wrote.听

Further, the document said: 鈥淩esponses to the COVID-19 pandemic such as prolonged work-from-home policies, quarantines, closures, and travel restrictions could continue to depress demand for the products sold on our platform. Even if a virus or other disease does not spread significantly and such measures are not implemented, the perceived risk of infection or significant health risk may adversely affect our business, results of operations, and financial condition.鈥�

Other risks highlighted by the company include its reliance on the U.S. Postal Service, noting how the COVID-19 pandemic has caused shipping delays and 鈥�recent news coverage about politicization of, and funding challenges at, the USPS, and reports of significant service delays.鈥�

The company, which is based in Redwood City, raised around $153 million in funding from investors including , 1, , most recently with a $87.5 million Series E led by in November 2017. Among the largest shareholders of the company鈥檚 Class B common stock are Mayfield, Menlo Ventures and .

It鈥檚 unclear when Poshmark will start trading on the public markets, with December quickly coming to a close with the holidays.听

December so far has been a busy month for IPOs. Perhaps most notably, and both went public this month, and it looks like there鈥檚 more action ahead. Besides Poshmark, and also filed S-1 statements with the SEC recently, though they are reportedly waiting until early 2021 to make their debut.

听and are among the underwriters for the deal. Poshmark has applied to list on the Nasdaq under the ticker POSH.

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