The RealReal, Inc. logo

The RealReal, Inc.

REAL

NASDAQConsumer CyclicalLuxury Goods

Previous close

$11.12

−$0.53 · -4.55%

Aug 21, 4:00 PM ET

REAL company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

66

Undervalued

Momentum

31

Weakening

Sentiment

57

Mixed

Risk resilience

25

High Risk

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Company profile

Company website

The RealReal, Inc. manages a digital platform dedicated to the online resale of luxury goods throughout the United States. Its diverse inventory encompasses a wide array of categories, such as clothing and accessories for women, men, and children, along with fine jewelry, watches, and home furnishings and art. This company was founded in 2011 and maintains its corporate headquarters in San Francisco, California.

Industry
Luxury Goods
Sector
Consumer Cyclical
Headquarters
US
CEO
Rati Sahi Levesque
Listed since
Jun 28, 2019
Employees
3,140

Market position

Day range

Current $11.12

52-week range

Current $11.12

Open
$11.79
Previous close
$11.65
Volume
7.79M
2.24× average
Average volume
3.48M
Average daily volume
Market cap
1.34B USD
Beta
2.74
Market reference 1
50-day average
$11.5804
-3.98% below average
200-day average
$12.1324
-8.34% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.12B USD
P/E (TTM)
-15.89×
P/B (TTM)
-3.56×
P/S (TTM)
1.79×
EV / EBITDA
110.26×
Earnings yield
-2.31%
Free cash flow yield
1.01%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
72.33%
Operating margin
-0.78%
Net margin
-10.82%
Return on equity
10.06%
Return on assets
-10.22%
Return on invested capital
-14.13%

Financial health

Debt / equity
-1.23×
Current ratio
0.86×
Altman Z-score
-2.29
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends87%37%-13%-63%Gross margin, FY2021: 58.47%Gross margin, FY2022: 57.78%Gross margin, FY2023: 68.50%Gross margin, FY2024: 74.53%Gross margin, FY2025: 69.83%Operating margin, FY2021: -45.95%Operating margin, FY2022: -31.34%Operating margin, FY2023: -30.27%Operating margin, FY2024: -9.41%Operating margin, FY2025: -3.45%Net margin, FY2021: -50.48%Net margin, FY2022: -32.55%Net margin, FY2023: -30.67%Net margin, FY2024: -22.35%Net margin, FY2025: -6.03%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 58.47%. Gross margin FY2022 57.78%. Gross margin FY2023 68.50%. Gross margin FY2024 74.53%. Gross margin FY2025 69.83%. Operating margin FY2021 -45.95%. Operating margin FY2022 -31.34%. Operating margin FY2023 -30.27%. Operating margin FY2024 -9.41%. Operating margin FY2025 -3.45%. Net margin FY2021 -50.48%. Net margin FY2022 -32.55%. Net margin FY2023 -30.67%. Net margin FY2024 -22.35%. Net margin FY2025 -6.03%.

Income trends

Revenue

692.85M USD+15.38%

Operating income

−23.93M USD+57.64%

Net income

−41.8M USD+68.85%
Income trends across reported periods785.74M USD414.16M USD42.58M USD−329M USDRevenue, FY2021: 467.69M USDRevenue, FY2022: 603.49M USDRevenue, FY2023: 549.3M USDRevenue, FY2024: 600.48M USDRevenue, FY2025: 692.85M USDOperating income, FY2021: −214.91M USDOperating income, FY2022: −189.16M USDOperating income, FY2023: −166.29M USDOperating income, FY2024: −56.5M USDOperating income, FY2025: −23.93M USDNet income, FY2021: −236.11M USDNet income, FY2022: −196.45M USDNet income, FY2023: −168.47M USDNet income, FY2024: −134.2M USDNet income, FY2025: −41.8M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 467.69M USD. Revenue FY2022 603.49M USD. Revenue FY2023 549.3M USD. Revenue FY2024 600.48M USD. Revenue FY2025 692.85M USD. Operating income FY2021 −214.91M USD. Operating income FY2022 −189.16M USD. Operating income FY2023 −166.29M USD. Operating income FY2024 −56.5M USD. Operating income FY2025 −23.93M USD. Net income FY2021 −236.11M USD. Net income FY2022 −196.45M USD. Net income FY2023 −168.47M USD. Net income FY2024 −134.2M USD. Net income FY2025 −41.8M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue692.85M USD600.48M USD549.3M USD603.49M USD467.69M USD
Cost of goods sold209.03M USD152.96M USD173.03M USD254.8M USD194.22M USD
Gross profit483.82M USD447.52M USD376.28M USD348.69M USD273.48M USD
Research and development242.91M USD227.73M USD225.35M USD212.3M USD
Selling, general, and administrative264.84M USD242.99M USD499.11M USD258.33M USD239.17M USD
Operating expenses507.75M USD504.02M USD542.57M USD537.85M USD488.39M USD
Interest income4.26M USD7.94M USD8.81M USD3.19M USD365K USD
Interest expense27.7M USD21.38M USD10.7M USD10.47M USD21.53M USD
Depreciation and amortization33M USD33.1M USD31.7M USD27.67M USD42.97M USD
Operating income−23.93M USD−56.5M USD−166.29M USD−189.16M USD−214.91M USD
Net income−41.8M USD−134.2M USD−168.47M USD−196.45M USD−236.11M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 3 misses, 1 met estimate
Average EPS surprise
-223.17%
11 comparable reports
Latest EPS result
-0.01
Estimate -0.02 · Beat by 43.18%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.11-0.15-0.41-0.67Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26MetQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 20, 2025: actual -0.62, estimate -0.03, surprise -1966.67%, Miss. Q2 2025, reported May 8, 2025: actual -0.14, estimate -0.13, surprise -7.69%, Miss. Q3 2025, reported Aug 7, 2025: actual -0.13, estimate -0.15, surprise +13.33%, Beat. Q4 2025, reported Nov 10, 2025: actual -0.49, estimate -0.061, surprise -708.18%, Miss. Q1 2026, reported Feb 26, 2026: actual 0.06, estimate 0.04, surprise +50.00%, Beat. Q2 2026, reported May 7, 2026: actual -0.01, estimate -0.01, surprise 0.00%, Met estimate. Q3 2026, reported Aug 6, 2026: actual -0.01, estimate -0.018, surprise +43.18%, Beat. Q4 2026, reported Nov 9, 2026: actual —, estimate 0.003, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates204.64M187.03M169.41M151.8MQ1 '25MissQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 20, 2025: actual 164M USD, estimate 164.15M USD, surprise -0.10%, Miss. Q2 2025, reported May 8, 2025: actual 160.03M USD, estimate 159.67M USD, surprise +0.23%, Beat. Q3 2025, reported Aug 7, 2025: actual 165.19M USD, estimate 169.37M USD, surprise -2.47%, Miss. Q4 2025, reported Nov 10, 2025: actual 173.57M USD, estimate 169.04M USD, surprise +2.68%, Beat. Q1 2026, reported Feb 26, 2026: actual 194.05M USD, estimate 188.72M USD, surprise +2.83%, Beat. Q2 2026, reported May 7, 2026: actual 189.72M USD, estimate 187.82M USD, surprise +1.01%, Beat. Q3 2026, reported Aug 6, 2026: actual 192.57M USD, estimate 188.11M USD, surprise +2.37%, Beat. Q4 2026, reported Nov 9, 2026: actual —, estimate 196.77M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$15.75

41.64% upside
Past 12 months12-month forecastHigh $19.00Average $15.75Low $13.00

Rating distribution

25 ratings
Strong buy00%
Buy1352%
Hold1248%
Sell00%
Strong sell00%

Recent analyst actions

10 institutions
Northland Capital MarketsmaintainOutperform

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