Vinted Group reported a 47% year-on-year increase in gross merchandise value (GMV) for 2025, while profitability declined amid continued investment.
The Lithuanian second-hand marketplace recorded an annual GMV of €10.8bn ($12.62bn), with revenue climbing 38% to €1.1bn.
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Net profit, however, fell 19% to €62m while adjusted EBITDA decreased 5% to €151m. Meanwhile, free cash flow increased by 36% to €137m.
The group linked the reduction in profit to ongoing investments, including the expansion of its German operations, broader marketplace categories, the rollout of its Vinted Go logistics arm in Portugal and Spain, and the introduction of a wallet service through Vinted Pay.
Vinted CEO Thomas Plantenga said: “To make second-hand first choice, we know what we need to do: we need to be the most cost-efficient, be the most reliable and easy to use. Therefore, we need to build an ecosystem for C2C second-hand trade that maximises value to members at the lowest possible cost.
“We do this by investing in technology to have long-term, scalable impact. That’s why you see us improving our product, investing in safety and member support, while strengthening the rails that power the marketplace: shipping and payments.”
During the year, the company moved beyond its core fashion segment, reporting solid demand in women’s and children’s clothing while expanding into categories such as sports and collectables.
It said this contributed to higher user engagement and increased trading activity across the platform.
Geographically, the business entered Latvia, Estonia and Slovenia while also reporting improved performance in Germany following enhancements to its product offering, which supported further investment and growth.
Vinted Go opened a new sortation centre in France during the year.
The division now serves five European markets, notably Belgium, France, the Netherlands, Portugal and Spain, and has begun piloting delivery services for third-party clients.
Across the group’s broader network, pick-up and drop-off points now exceed 500,000 locations throughout Europe.
Vinted Pay introduced a wallet feature, which the company said is expected to lower payment-related costs and reduce reliance on external providers over time.
The company framed its ongoing push on “cost efficiency” as central to enabling trade in lower-value items and widening access to the second-hand market more broadly.
