Poshmark's revenue topped analysts' estimates, in its first financial report since going public in January. But the online seller of secondhand clothing issued a weaker-than-expected sales outlook for the current quarter.

Poshmark's stock tumbled more than 12% in after-hours trading.

Founder and Chief Executive Manish Chandra said in an interview that demand for apparel is still suppressed in parts of the U.S., 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 state-wide differences."

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