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MARKETS / NASDAQ / REAL
NASDAQ · RETAIL-MISCELLANEOUS RETAIL · MID CAP

TheRealReal, Inc. REAL

9 fiscal years on record · USD · FY2025 reported · SEC filings only
$692.8M
▲ 15.4% YoY
$-41.8M
$18.4M
▲ 45.8% YoY
In brief

What this company does

The RealReal offers a selection of authenticated, primarily pre-owned luxury goods through its online marketplace. It offers products across multiple categories, including women's fashion, men's fashion, jewelry and watches. It operates neighborhood retail stores, typically 1,800 to 3,500 square feet, with items for sale reflecting a selection of its online assortment. It also operates larger footprint flagship stores in San Francisco, California, Los Angeles, California and New York, New York. In 2025, it had over 1 million active buyers, and over 80% of its GMV came from repeat buyers. As of December 31, 2025, it had 3,140 full-time equivalent employees. It was incorporated in the state of Delaware in March 2011.

Written from the business description in TheRealReal, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 692.8M
Revenue, FY2025 · full 9-year series below
Revenue $M Net income $M
FY2025 · Revenue 692.8 · Net income -41.8
250.0M500.0M-80.0M-160.0M201720182019202020212022202320242025
Compound annual growth
+4.7%
+18.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +18.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−6 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -3.5% · Net -6.0%
-20%-40%201720182019202020212022202320242025
ROE
FY2021 · ROE -178.6%
-100%-200%201720182019202020212022202320242025

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 18.4
-80M-160M201720182019202020212022202320242025

Total assetsUSD 409.0M
EquityUSD -415.5M
CashUSD 151.2M
Current ratio0.86×

Equity funds -102% of total assets.

The 9-year record
9 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017
Revenue $B0.70.60.50.60.50.30.30.20.1
Operating income $B−0.0−0.1−0.2−0.2−0.2−0.2−0.1−0.1−0.1
EBITDA $B0.0−0.0−0.1−0.2−0.2−0.2−0.1−0.1−0.0
Income tax $B0.00.00.00.00.00.00.00.00.0
Net income $B−0.0−0.1−0.2−0.2−0.2−0.2−0.1−0.1−0.1
Free cash flow $B0.00.0−0.1−0.1−0.2−0.2−0.1−0.1−0.1
EPS, diluted $−0.70−1.24−1.65−2.05−2.58−2.01−2.14−10.12−6.74
Dividend / sh $·········
Payout %·········
ROE %····−178.6−66.5−247.4··
Shares out B0.120.110.100.100.090.090.090.01·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 43 reconciliationsAUDITED

Reconciled in 9 of 19 fiscal years. 52 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRetail-Miscellaneous Retail
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2017

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