TheRealReal, Inc.
REAL- Exchange
- Nasdaq
- Industry
- Retail-Miscellaneous Retail
- SEC CIK
- 0001573221
In the last 90 days, TheRealReal, Inc. insiders filed 0 open-market purchases and 5 sales; 253 institutions reported holding it in 13F filings for Q2 2026, worth $1.33B in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 30, 2026, 1:18 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $41.8M (6.0% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 26, 2026 | Feb 10, 2025 | Feb 29, 2024 | Feb 28, 2023 | Jan 5, 2022 |
| Revenue | $692.8M | $600.5M | $549.3M | $603.5M | $467.7M |
| Cost of revenue | $176.0M | $153.0M | $173.0M | $254.8M | $194.2M |
| Gross profit | $516.8M | $447.5M | $376.3M | $348.7M | $273.5M |
| Operating expenses | $540.8M | $504.0M | $542.6M | $537.9M | $488.4M |
| Selling, general and administrative | $201.6M | $187.7M | $182.5M | $195.2M | $176.4M |
| Operating income | -$23.9M | -$56.5M | -$166.3M | -$189.2M | -$214.9M |
| Interest expense | – | – | $10.7M | $10.5M | $21.5M |
| Income tax | $363.0K | $276.0K | $283.0K | $172.0K | $56.0K |
| Net income | -$41.8M | -$134.2M | -$168.5M | -$196.4M | -$236.1M |
| EPS, basic | $-0.36 | $-1.24 | $-1.65 | $-2.05 | $-2.58 |
| EPS, diluted | $-0.70 | $-1.24 | $-1.65 | $-2.05 | $-2.58 |
| Weighted shares, basic | 114.9M | 107.9M | 101.8M | 95.9M | 91.4M |
| Weighted shares, diluted | 116.5M | 107.9M | 101.8M | 95.9M | 91.4M |
| Margins and growth | |||||
| Gross margin | 74.6% | 74.5% | 68.5% | 57.8% | 58.5% |
| Operating margin | -3.5% | -9.4% | -30.3% | -31.3% | -46.0% |
| Net margin | -6.0% | -22.3% | -30.7% | -32.6% | -50.5% |
| Revenue growth, year over year | +15.4% | +9.3% | −9.0% | +29.0% | +55.9% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 26, 2026 | Feb 10, 2025 | Feb 29, 2024 | Feb 28, 2023 | Jan 5, 2022 |
| Cash and equivalents | $151.2M | $172.2M | $175.7M | $293.8M | $418.2M |
| Accounts receivable | $23.8M | $14.0M | $17.2M | $12.2M | $7.77M |
| Inventory | $30.8M | $23.6M | $22.2M | $43.0M | $71.0M |
| Total current assets | $227.5M | $232.7M | $235.9M | $372.3M | $517.8M |
| Property, plant and equipment | $96.1M | $94.4M | $104.1M | $112.7M | $89.3M |
| Total assets | $409.0M | $423.1M | $446.9M | $615.6M | $754.9M |
| Accounts payable | $14.6M | $11.0M | $8.96M | $11.9M | $4.50M |
| Total current liabilities | $264.2M | $248.7M | $188.9M | $207.5M | $188.0M |
| Total liabilities | $824.6M | $830.5M | $750.2M | $785.7M | $681.8M |
| Shareholders' equity | -$415.5M | -$407.4M | -$303.3M | -$170.1M | $73.1M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 26, 2026 | Feb 10, 2025 | Feb 29, 2024 | Feb 28, 2023 | Jan 5, 2022 |
| Operating cash flow | $37.0M | $26.8M | -$61.3M | -$91.6M | -$142.2M |
| Capital expenditures | $18.6M | $14.2M | $29.2M | $22.9M | $37.5M |
| Free cash flow | $18.4M | $12.6M | -$90.4M | -$114.4M | -$179.6M |
| Depreciation and amortization | $33.0M | $33.1M | $31.7M | $27.7M | $23.5M |
| Stock-based compensation | $28.9M | $29.1M | $34.3M | $46.1M | $48.8M |
| Investing cash flow | -$29.2M | -$25.6M | -$42.1M | -$36.9M | -$43.4M |
| Financing cash flow | -$28.9M | -$4.76M | $226.0K | $4.10M | $252.9M |
| Net change in cash | -$21.1M | -$3.50M | -$103.2M | -$124.4M | $67.3M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 4.2% | 4.8% | 6.2% | 7.6% | 10.4% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 22, 2026 | 124.7M | +6.9% | SEC |
| Jul 31, 2026 | 121.7M | +5.6% | SEC |
| May 1, 2026 | 120.5M | +6.5% | SEC |
| Feb 18, 2026 | 119.0M | +7.0% | SEC |
| Nov 5, 2025 | 116.7M | +6.4% | SEC |
| Aug 1, 2025 | 115.2M | +6.2% | SEC |
| May 1, 2025 | 113.1M | +6.7% | SEC |
| Feb 14, 2025 | 111.2M | +6.3% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.