REAL
TheRealReal Inc
NASDAQ: REAL · CONSUMER CYCLICAL · LUXURY GOODS
$11.77
-0.08% today
Updated 2026-04-29
Market cap
$1.42B
P/E ratio
—
P/S ratio
2.05x
EPS (TTM)
$-0.70
Dividend yield
—
52W range
$5 – $17
Volume
3.4M
TheRealReal Inc (REAL) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $137.52M | $207.38M | $316.35M | $299.95M | $467.69M | $603.49M | $549.30M | $600.48M | $692.85M |
| Revenue growth (YoY) | — | +50.8% | +52.6% | -5.2% | +55.9% | +29.0% | -9.0% | +9.3% | +15.4% |
| Cost of revenue | $49.88M | $70.46M | $114.83M | $112.38M | $194.22M | $254.80M | $173.03M | $152.96M | $209.03M |
| Gross profit | $87.64M | $136.92M | $201.52M | $187.57M | $273.48M | $348.69M | $376.28M | $447.52M | $483.82M |
| Gross margin | 63.7% | 66.0% | 63.7% | 62.5% | 58.5% | 57.8% | 68.5% | 74.5% | 69.8% |
| R&D | $58.68M | $104.93M | $129.82M | $144.96M | $212.30M | $251.44M | $225.35M | $227.73M | $242.91M |
| SG&A | $102.72M | $168.66M | $110.66M | $141.76M | $176.42M | $195.34M | $440.83M | $187.74M | $201.59M |
| Operating income | $-51.78M | $-73.90M | $-100.11M | $-172.82M | $-214.91M | $-189.16M | $-166.29M | $-56.49M | $-23.93M |
| Operating margin | -37.7% | -35.6% | -31.6% | -57.6% | -46.0% | -31.3% | -30.3% | -9.4% | -3.5% |
| EBITDA | $-45.85M | $-65.22M | $-84.21M | $-135.56M | $-171.55M | $-158.13M | $-125.79M | $-79.44M | $19.27M |
| EBITDA margin | -33.3% | -31.5% | -26.6% | -45.2% | -36.7% | -26.2% | -22.9% | -13.2% | 2.8% |
| EBIT | $-51.49M | $-74.51M | $-97.61M | $-170.47M | $-214.52M | $-185.80M | $-157.49M | $-112.54M | $-13.73M |
| Interest expense | $762000.00 | $1.15M | $616000.00 | $5.26M | $21.53M | $10.47M | $10.70M | $21.38M | $27.70M |
| Income tax | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-52.31M | $-75.77M | $-98.43M | $-175.83M | $-236.11M | $-196.44M | $-168.47M | $-134.20M | $-41.80M |
| Net income growth (YoY) | — | -44.8% | -29.9% | -78.6% | -34.3% | +16.8% | +14.2% | +20.3% | +68.9% |
| Profit margin | -38.0% | -36.5% | -31.1% | -58.6% | -50.5% | -32.6% | -30.7% | -22.3% | -6.0% |