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RealReal (REAL) Financials

RealReal logo
$9.35 -0.06 (-0.64%)
Closing price 04:00 PM Eastern
Extended Trading
$9.25 -0.10 (-1.09%)
As of 07:57 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for RealReal

Annual Income Statements for RealReal

This table shows RealReal's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -85 -102 -176 -236 -196 -168 -134 -42
Consolidated Net Income / (Loss)		 -76 -98 -176 -236 -196 -168 -134 -42
Net Income / (Loss) Continuing Operations		 198 -98 -176 -236 -196 -168 -134 -42
Total Pre-Tax Income 		-76 -98 -176 -236 -196 -168 -134 -41
Total Operating Income		 -74 -100 -173 -215 -189 -166 -56 -24
Total Gross Profit		 274 202 188 273 349 376 448 517
Total Revenue		 427 316 300 468 603 549 600 693
Operating Revenue		 427 316 300 468 603 549 600 693
Total Cost of Revenue		 154 115 112 194 255 173 153 176
Operating Cost of Revenue		 154 115 112 194 255 173 153 176
Total Operating Expenses		 74 302 360 488 538 543 504 541
Selling, General & Admin Expense		 64 111 141 176 195 184 188 202
Marketing Expense		 42 48 55 63 63 58 55 63
Other Operating Expenses / (Income)		 242 143 164 234 279 257 261 276
Restructuring Charge		 - - - 2.31 0.90 43 0.00 0.00
Total Other Income / (Expense), net		 -1.76 1.88 -2.92 -21 -7.11 -1.90 -77 -18
Interest Expense		 1.15 0.62 5.26 22 10 11 17 -13
Interest & Investment Income		 1.05 4.59 2.52 0.37 3.19 8.81 7.94 4.26
Other Income / (Expense), net		 -1.66 -2.10 -0.17 0.02 0.17 0.00 -68 -35
Income Tax Expense		 0.10 0.20 0.10 0.06 0.17 0.28 0.28 0.36
Basic Earnings per Share		 ($10.12) ($2.14) ($2.01) ($2.58) ($2.05) ($1.65) ($1.24) ($0.36)
Weighted Average Basic Shares Outstanding		 8.37M 47.48M 87.59M 91.41M 95.92M 101.81M 107.88M 114.87M
Diluted Earnings per Share		 ($10.12) ($2.14) ($2.01) ($2.58) ($2.05) ($1.65) ($1.24) ($0.70)
Weighted Average Diluted Shares Outstanding		 8.37M 47.48M 87.59M 91.41M 95.92M 101.81M 107.88M 116.51M
Weighted Average Basic & Diluted Shares Outstanding		 8.37M 47.48M 87.59M 93.06M 99.25M 104.69M 111.25M 118.98M

Quarterly Income Statements for RealReal

This table shows RealReal's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -23 -22 -31 -17 -18 -68 62 -11 -54 -39 39
Consolidated Net Income / (Loss)		 -23 -22 -31 -17 -18 -68 62 -11 -54 -39 39
Net Income / (Loss) Continuing Operations		 -23 -22 -31 -17 -18 -68 62 -11 -54 -39 39
Total Pre-Tax Income 		-23 -22 -31 -17 -18 -68 62 -11 -54 -39 39
Total Operating Income		 -22 -21 -18 -19 -15 -5.15 -13 -9.89 -7.55 6.27 -2.27
Total Gross Profit		 94 106 107 107 111 122 120 123 129 145 141
Total Revenue		 133 143 144 145 148 164 160 165 174 194 190
Operating Revenue		 133 143 144 145 148 164 160 165 174 194 190
Total Cost of Revenue		 39 37 37 37 37 42 40 43 45 49 48
Operating Cost of Revenue		 39 37 37 37 37 42 40 43 45 49 48
Total Operating Expenses		 117 127 125 126 125 127 133 133 136 139 144
Selling, General & Admin Expense		 45 45 47 47 48 46 50 48 52 52 52
Marketing Expense		 12 14 15 14 12 15 16 16 14 18 19
Other Operating Expenses / (Income)		 61 62 63 65 66 66 67 69 71 69 73
Total Other Income / (Expense), net		 -0.41 -0.60 -13 2.12 -3.26 -63 75 -1.39 -46 -45 41
Interest Expense		 2.67 2.68 -0.43 5.77 5.95 5.92 -31 7.04 3.40 7.26 7.22
Interest & Investment Income		 2.26 2.09 2.07 2.26 1.94 1.67 1.37 1.11 0.82 0.96 1.00
Other Income / (Expense), net		 0.00 - -16 5.63 0.74 -59 43 4.54 -44 -39 48
Income Tax Expense		 0.05 0.04 0.07 0.04 0.07 0.10 0.10 0.09 0.02 0.16 0.11
Basic Earnings per Share		 ($0.22) ($0.19) ($0.30) ($0.16) ($0.16) ($0.62) $0.56 ($0.10) ($0.47) ($0.35) $0.33
Weighted Average Basic Shares Outstanding		 102.65M 101.81M 105.21M 106.88M 109.02M 107.88M 112.04M 114.04M 115.89M 114.87M 119.52M
Diluted Earnings per Share		 ($0.22) ($0.19) ($0.30) ($0.20) ($0.17) ($0.57) ($0.14) ($0.13) ($0.49) $0.06 ($0.07)
Weighted Average Diluted Shares Outstanding		 102.65M 101.81M 105.21M 111.12M 112.42M 107.88M 120.78M 119.48M 116.77M 116.51M 125.72M
Weighted Average Basic & Diluted Shares Outstanding		 103.35M 104.69M 105.97M 108.50M 109.69M 111.25M 113.10M 115.24M 116.68M 118.98M 120.49M

Annual Cash Flow Statements for RealReal

This table details how cash moves in and out of RealReal's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 25 109 196 67 -124 -103 -3.50 -21
Net Cash From Operating Activities		 -47 -54 -134 -142 -92 -61 27 37
Net Cash From Continuing Operating Activities		 -47 -54 -134 -142 -92 -61 27 37
Net Income / (Loss) Continuing Operations		 -76 -98 -176 -236 -196 -168 -134 -42
Consolidated Net Income / (Loss)		 -76 -98 -176 -236 -196 -168 -134 -42
Depreciation Expense		 9.29 13 19 24 28 32 33 33
Non-Cash Adjustments To Reconcile Net Income		 6.65 9.91 44 85 75 105 125 55
Changes in Operating Assets and Liabilities, net		 13 21 -22 -15 2.65 -29 2.84 -9.26
Net Cash From Investing Activities		 -34 -215 178 -43 -37 -42 -26 -29
Net Cash From Continuing Investing Activities		 -34 -215 178 -43 -37 -42 -26 -29
Purchase of Property, Plant & Equipment		 -19 -34 -27 -47 -37 -42 -26 -32
Other Investing Activities, net		 - - - - 0.00 0.00 0.46 2.31
Net Cash From Financing Activities		 106 379 153 253 4.10 0.23 -4.76 -29
Net Cash From Continuing Financing Activities		 106 379 153 253 4.10 0.23 -4.76 -29
Repayment of Debt		 -5.05 -9.25 -23 -34 0.00 0.00 -5.30 -33
Issuance of Common Equity		 0.00 316 0.97 2.34 1.40 0.89 1.41 1.65
Other Financing Activities, net		 0.61 2.60 8.11 6.00 2.70 -0.66 -0.87 2.78
Cash Interest Paid		 0.67 0.55 0.01 6.58 8.10 8.13 11 17
Cash Income Taxes Paid		 0.05 0.10 0.09 0.09 0.26 0.23 0.20 0.33

Quarterly Cash Flow Statements for RealReal

This table details how cash moves in and out of RealReal's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -19 4.06 -9.72 -15 2.43 19 -33 -45 14 43 -27
Net Cash From Operating Activities		 -11 11 -3.47 -6.75 9.07 28 -28 -3.57 19 50 -17
Net Cash From Continuing Operating Activities		 -11 10 -3.47 -6.75 9.07 28 -28 -3.22 19 50 -17
Net Income / (Loss) Continuing Operations		 -23 -22 -31 -17 -18 -68 62 -11 -54 -39 39
Consolidated Net Income / (Loss)		 -23 -22 -31 -17 -18 -68 62 -11 -54 -39 39
Depreciation Expense		 7.74 8.17 8.31 8.23 8.27 8.29 8.38 8.26 8.21 8.16 8.09
Non-Cash Adjustments To Reconcile Net Income		 1.21 34 25 13 11 77 -68 22 32 74 -38
Changes in Operating Assets and Liabilities, net		 3.17 -10 -5.52 -11 8.10 12 -31 -22 33 5.96 -25
Net Cash From Investing Activities		 -8.12 -6.73 -5.32 -4.96 -6.48 -8.83 -5.86 -11 -5.61 -6.92 -11
Net Cash From Continuing Investing Activities		 -8.12 -6.73 -5.32 -4.96 -6.48 -8.83 -5.86 -11 -5.61 -6.92 -11
Purchase of Property, Plant & Equipment		 -8.12 -6.73 -5.32 -4.96 -6.94 -8.83 -7.58 -11 -5.61 -6.92 -11
Other Investing Activities, net		 - - 0.00 - - - 1.72 0.59 - - 0.00
Net Cash From Financing Activities		 -0.07 0.26 -0.93 -3.54 -0.16 -0.13 1.47 -31 0.36 0.16 -0.02
Net Cash From Continuing Financing Activities		 -0.07 0.26 -0.93 -3.54 -0.16 -0.13 1.47 -31 0.36 0.16 -0.02
Repayment of Debt		 - - -1.03 -4.21 -0.07 - -0.00 -32 -0.21 -1.34 0.00
Other Financing Activities, net		 -0.07 -0.18 0.10 0.05 -0.10 -0.92 1.47 0.06 0.57 0.68 -0.02
Cash Interest Paid		 1.46 2.61 2.35 0.42 7.39 0.52 6.53 0.42 10 0.02 10
Cash Income Taxes Paid		 0.01 - 0.01 0.19 - 0.00 0.01 0.33 -0.00 - 0.01

Annual Balance Sheets for RealReal

This table presents RealReal's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 135 465 605 755 616 447 423 409
Total Current Assets		 89 407 421 518 372 236 233 227
Cash & Equivalents		 34 154 351 418 294 176 172 151
Accounts Receivable		 7.57 7.78 7.21 7.77 12 17 14 24
Inventories, net		 10 22 42 71 43 22 24 31
Prepaid Expenses		 9.70 14 17 21 23 21 23 22
Plant, Property, & Equipment, net		 33 56 63 89 113 104 94 96
Total Noncurrent Assets		 13 2.66 120 148 131 107 96 85
Other Noncurrent Operating Assets		 13 2.66 120 148 131 107 96 85
Total Liabilities & Shareholders' Equity		 135 465 605 755 616 447 423 409
Total Liabilities		 99 128 414 682 786 750 830 825
Total Current Liabilities		 88 119 148 188 208 189 249 264
Accounts Payable		 5.15 11 14 4.50 12 8.96 11 15
Accrued Expenses		 77 107 119 165 82 77 90 111
Other Current Liabilities		 - 0.00 15 18 114 103 121 138
Total Noncurrent Liabilities		 11 9.46 266 494 578 561 582 560
Long-Term Debt		 3.25 0.00 149 348 450 452 411 372
Other Noncurrent Operating Liabilities		 7.30 9.46 116 145 128 109 171 188
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -258 337 191 73 -170 -303 -407 -416
Total Preferred & Common Equity		 -258 337 191 73 -170 -303 -407 -416
Total Common Equity		 -258 337 191 73 -170 -303 -407 -416
Common Stock		 0.00 693 723 841 781 816 846 880
Retained Earnings		 -258 -356 -532 -768 -951 -1,120 -1,254 -1,296

Quarterly Balance Sheets for RealReal

This table presents RealReal's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 634 512 459 453 432 407 406 400 349 366 386
Total Current Assets		 399 311 240 230 225 207 212 208 160 182 203
Cash & Equivalents		 300 247 189 171 166 151 153 140 94 108 124
Accounts Receivable		 8.75 8.94 5.99 14 20 16 16 28 23 24 25
Inventories, net		 63 31 26 25 21 21 20 26 29 30 34
Prepaid Expenses		 27 24 19 21 18 19 23 14 14 20 20
Plant, Property, & Equipment, net		 100 102 106 107 101 97 95 98 98 95 98
Total Noncurrent Assets		 136 99 113 116 105 103 99 95 91 89 85
Other Noncurrent Operating Assets		 136 99 113 116 105 103 99 95 91 89 85
Total Liabilities & Shareholders' Equity		 634 512 459 453 432 407 406 400 349 366 386
Total Liabilities		 776 755 734 743 759 743 752 736 688 751 745
Total Current Liabilities		 194 184 168 177 194 212 226 240 199 226 241
Accounts Payable		 9.90 8.87 13 8.09 14 13 11 20 14 11 15
Accrued Expenses		 72 72 62 67 76 65 73 82 76 87 102
Other Current Liabilities		 112 103 93 102 104 107 115 111 110 128 124
Total Noncurrent Liabilities		 582 571 566 566 565 531 526 496 488 525 504
Long-Term Debt		 449 450 451 452 434 407 408 372 373 371 375
Other Noncurrent Operating Liabilities		 133 121 115 114 131 123 118 124 115 154 129
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -141 -244 -276 -290 -327 -335 -345 -336 -338 -385 -359
Total Preferred & Common Equity		 -141 -244 -276 -290 -327 -335 -345 -336 -338 -385 -359
Total Common Equity		 -141 -244 -276 -290 -327 -335 -345 -336 -338 -385 -359
Common Stock		 771 790 799 808 824 832 840 855 865 872 897
Retained Earnings		 -913 -1,034 -1,075 -1,098 -1,151 -1,167 -1,185 -1,191 -1,203 -1,257 -1,257

Annual Metrics And Ratios for RealReal

This table displays calculated financial ratios and metrics derived from RealReal's official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 85,791,236.00 88,577,407.00 92,387,816.00 - - - 116,682,847.00
DEI Adjusted Shares Outstanding		 0.00 85,791,236.00 88,577,407.00 92,387,816.00 - - - 116,682,847.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -1.19 -1.99 -2.56 - - - -0.36
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% -25.99% -5.19% 55.92% 29.04% -8.98% 9.32% 15.38%
EBITDA Growth		 0.00% -34.50% -73.24% -24.07% 15.69% 16.57% 31.97% 71.85%
EBIT Growth		 0.00% -35.27% -69.25% -24.22% 12.05% 12.01% 25.03% 52.85%
NOPAT Growth		 0.00% -35.45% -72.63% -24.36% 11.98% 12.09% 66.03% 57.64%
Net Income Growth		 0.00% -29.91% -78.64% -34.28% 16.80% 14.24% 20.34% 68.85%
EPS Growth		 0.00% 78.85% 6.07% -28.36% 20.54% 19.51% 24.85% 43.55%
Operating Cash Flow Growth		 0.00% -15.46% -146.69% -5.75% 35.59% 33.08% 143.82% 37.86%
Free Cash Flow Firm Growth		 0.00% 0.00% -121.61% -26.81% 31.59% 9.72% 172.72% -51.64%
Invested Capital Growth		 0.00% -64.89% 44.71% 123.20% -520.65% -89.41% -432.81% -37.61%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 84.44% 2.47% -2.88% 3.56% 4.53%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 1.43% 5.84% 11.56% -88.24% 55.12%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 1.04% 4.19% 9.20% -52.75% 35.10%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 1.00% 4.17% 9.22% 21.97% 32.31%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 45.31% 6.47% 9.13% -53.48% 41.52%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.77% 7.66% 10.81% -44.19% 47.37%
Operating Cash Flow Q/Q Growth		 0.00% 17.05% -45.49% 12.14% 19.70% 10.02% 186.36% 139.02%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 14.97% 7.19% 1,641.04% 9.45%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -67.13% -293.35% -193.39% -121.06% -59.52%
Profitability Metrics		 - - - - - - - -
Gross Margin		 64.06% 63.70% 62.53% 58.47% 57.78% 68.50% 74.53% 74.59%
EBITDA Margin		 -15.48% -28.14% -51.42% -40.91% -26.73% -24.50% -15.25% -3.72%
Operating Margin		 -17.29% -31.64% -57.62% -45.95% -31.34% -30.27% -9.41% -3.45%
EBIT Margin		 -17.68% -32.31% -57.67% -45.95% -31.32% -30.27% -20.76% -8.48%
Profit (Net Income) Margin		 -17.72% -31.11% -58.62% -50.48% -32.55% -30.67% -22.35% -6.03%
Tax Burden Percent		 100.13% 100.20% 100.06% 100.02% 100.09% 100.17% 100.21% 100.88%
Interest Burden Percent		 100.14% 96.11% 101.59% 109.85% 103.85% 101.14% 107.43% 70.50%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -207.52% -52.67% -66.54% -178.58% 405.19% 71.18% 37.77% 10.16%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -5,039.10% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -55.80% -34.03% -32.32% -31.60% -27.58% -31.30% -28.66% -14.13%
Return on Assets (ROA)		 -55.95% -32.77% -32.85% -34.72% -28.67% -31.71% -30.85% -10.05%
Return on Common Equity (ROCE)		 1,464.68% -11.21% -66.54% -178.58% 405.19% 71.18% 37.77% 10.16%
Return on Equity Simple (ROE_SIMPLE)		 29.40% -29.19% -91.92% -322.87% 115.49% 55.55% 32.94% 0.00%
Net Operating Profit after Tax (NOPAT)		 -52 -70 -121 -150 -132 -116 -40 -17
NOPAT Margin		 -12.10% -22.15% -40.33% -32.17% -21.94% -21.19% -6.59% -2.42%
Net Nonoperating Expense Percent (NNEP)		 -45.96% -13.65% -19.29% -62.20% 148.45% 24.06% 34.90% 10.30%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -47.33% -78.06% -129.43% 38.33%
Cost of Revenue to Revenue		 35.94% 36.30% 37.47% 41.53% 42.22% 31.50% 25.47% 25.41%
SG&A Expenses to Revenue		 14.91% 34.98% 46.89% 37.68% 32.37% 33.46% 31.26% 29.10%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 17.29% 95.35% 120.15% 104.42% 89.12% 98.77% 83.90% 78.05%
Earnings before Interest and Taxes (EBIT)		 -76 -102 -173 -215 -189 -166 -125 -59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -66 -89 -154 -191 -161 -135 -92 -26
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 4.80 9.05 14.67 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 4.80 9.05 14.67 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.70 5.11 5.77 2.29 0.20 0.38 2.00 2.66
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 300.52 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 1.27 3.96 5.08 2.14 0.46 0.88 2.44 2.98
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 54.56 55.71
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 19.39 56.45
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.25 0.00 0.78 4.76 -2.64 -1.49 -1.08 -0.89
Long-Term Debt to Equity		 0.09 0.00 0.78 4.76 -2.64 -1.49 -1.01 -0.89
Financial Leverage		 -1.43 -1.11 -1.08 -1.04 -0.89 -0.91 -0.76 -0.59
Leverage Ratio		 3.71 1.61 2.03 5.14 -14.14 -2.24 -1.22 -1.01
Compound Leverage Factor		 3.71 1.54 2.06 5.65 -14.68 -2.27 -1.32 -0.71
Debt to Total Capital		 20.20% 0.00% 43.82% 82.65% 160.80% 303.39% 1,433.30% -850.73%
Short-Term Debt to Total Capital		 13.09% 0.00% 0.00% 0.00% 0.00% 0.00% 87.23% 0.00%
Long-Term Debt to Total Capital		 7.10% 0.00% 43.82% 82.65% 160.80% 303.39% 1,346.07% -850.73%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 643.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -563.27% 100.00% 56.18% 17.35% -60.80% -203.39% -1,333.30% 950.73%
Debt to EBITDA		 -0.14 0.00 -0.97 -1.82 -2.79 -3.36 -4.78 -14.43
Net Debt to EBITDA		 0.79 0.00 1.33 0.36 -0.97 -2.06 -2.90 -8.56
Long-Term Debt to EBITDA		 -0.05 0.00 -0.97 -1.82 -2.79 -3.36 -4.49 -14.43
Debt to NOPAT		 -0.18 0.00 -1.23 -2.32 -3.40 -3.89 -11.07 -22.19
Net Debt to NOPAT		 1.01 0.00 1.70 0.46 -1.18 -2.38 -6.72 -13.17
Long-Term Debt to NOPAT		 -0.06 0.00 -1.23 -2.32 -3.40 -3.89 -10.40 -22.19
Altman Z-Score		 0.48 7.21 1.37 -0.28 -1.78 -3.21 -2.88 -1.98
Noncontrolling Interest Sharing Ratio		 805.81% 78.71% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 1.01 3.43 2.84 2.75 1.79 1.25 0.94 0.86
Quick Ratio		 0.78 3.13 2.44 2.27 1.47 1.02 0.75 0.66
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -60 -133 -168 -115 -104 76 37
Operating Cash Flow to CapEx		 -246.89% -160.13% -499.12% -299.66% -247.97% -145.43% 103.06% 117.37%
Free Cash Flow to Firm to Interest Expense		 0.00 -97.14 -25.19 -7.81 -10.99 -9.71 4.39 0.00
Operating Cash Flow to Interest Expense		 -40.97 -88.46 -25.54 -6.60 -8.74 -5.73 1.56 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -57.56 -143.70 -30.65 -8.81 -12.27 -9.66 0.05 0.00
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 3.16 1.05 0.56 0.69 0.88 1.03 1.38 1.67
Accounts Receivable Turnover		 56.46 41.22 40.01 62.44 60.43 37.33 38.51 36.68
Inventory Turnover		 14.84 7.12 3.50 3.43 4.47 5.31 6.68 6.47
Fixed Asset Turnover		 12.84 7.10 5.03 6.12 5.98 5.07 6.05 7.27
Accounts Payable Turnover		 29.84 14.08 8.81 20.61 31.06 16.59 15.32 13.77
Days Sales Outstanding (DSO)		 6.46 8.86 9.12 5.85 6.04 9.78 9.48 9.95
Days Inventory Outstanding (DIO)		 24.60 51.29 104.32 106.50 81.64 68.78 54.68 56.43
Days Payable Outstanding (DPO)		 12.23 25.92 41.42 17.71 11.75 22.01 23.82 26.51
Cash Conversion Cycle (CCC)		 18.83 34.23 72.02 94.63 75.93 56.56 40.34 39.87
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 -16 -26 -14 3.34 -14 -27 -142 -195
Invested Capital Turnover		 -27.10 -15.14 -14.85 -84.69 -112.80 -27.04 -7.14 -4.12
Increase / (Decrease) in Invested Capital		 0.00 -10 12 18 -17 -13 -115 -53
Enterprise Value (EV)		 542 1,254 1,525 1,003 279 484 1,465 2,062
Market Capitalization		 300 1,617 1,731 1,073 123 208 1,199 1,841
Book Value per Share		 ($30.80) $3.93 $2.16 $0.79 ($1.73) ($2.93) ($3.71) ($3.56)
Tangible Book Value per Share		 ($30.80) $3.93 $2.16 $0.79 ($1.73) ($2.93) ($3.71) ($3.56)
Total Capital		 46 337 340 422 280 149 31 -44
Total Debt		 9.24 0.00 149 348 450 452 438 372
Total Long-Term Debt		 3.25 0.00 149 348 450 452 411 372
Net Debt		 -52 -363 -206 -70 156 277 266 221
Capital Expenditures (CapEx)		 19 34 27 47 37 42 26 32
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -55 -75 -82 -88 -129 -129 -162 -188
Debt-free Net Working Capital (DFNWC)		 6.78 288 273 330 165 47 11 -37
Net Working Capital (NWC)		 0.79 288 273 330 165 47 -16 -37
Net Nonoperating Expense (NNE)		 24 28 55 86 64 52 95 25
Net Nonoperating Obligations (NNO)		 -52 -363 -206 -70 156 277 266 221
Total Depreciation and Amortization (D&A)		 9.37 13 19 24 28 32 33 33
Debt-free, Cash-free Net Working Capital to Revenue		 -12.81% -23.72% -27.22% -18.89% -21.38% -23.42% -26.91% -27.13%
Debt-free Net Working Capital to Revenue		 1.59% 91.10% 91.09% 70.52% 27.30% 8.57% 1.77% -5.30%
Net Working Capital to Revenue		 0.19% 91.10% 91.09% 70.52% 27.30% 8.57% -2.67% -5.30%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($2.01) ($2.58) ($2.05) ($1.65) ($1.24) ($0.36)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 89.84M 91.41M 95.92M 101.81M 107.88M 114.87M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($2.01) ($2.58) ($2.05) ($1.65) ($1.24) ($0.70)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 89.84M 91.41M 95.92M 101.81M 107.88M 116.51M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($2.01) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 87.59M 93.06M 99.25M 104.69M 111.25M 118.98M
Normalized Net Operating Profit after Tax (NOPAT)		 -52 -70 -120 -139 -132 -86 -40 -17
Normalized NOPAT Margin		 -12.10% -22.15% -40.07% -29.82% -21.84% -15.65% -6.59% -2.42%
Pre Tax Income Margin		 -17.70% -31.05% -58.59% -50.47% -32.52% -30.62% -22.30% -5.98%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 -65.59 -165.92 -32.86 -9.98 -18.05 -15.54 -7.24 0.00
NOPAT to Interest Expense		 -44.91 -113.76 -22.98 -6.99 -12.64 -10.88 -2.30 0.00
EBIT Less CapEx to Interest Expense		 -82.18 -221.16 -37.98 -12.18 -21.57 -19.48 -8.76 0.00
NOPAT Less CapEx to Interest Expense		 -61.50 -169.00 -28.10 -9.19 -16.17 -14.81 -3.81 0.00
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for RealReal

This table displays calculated financial ratios and metrics derived from RealReal's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - 111,246,608.00 113,095,329.00 115,237,276.00 116,682,847.00 118,982,805.00
DEI Adjusted Shares Outstanding		 - - - - - - 111,246,608.00 113,095,329.00 115,237,276.00 116,682,847.00 118,982,805.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - 0.56 -0.10 -0.47 -0.33 0.33
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -6.68% -10.20% 1.34% 10.76% 10.95% 14.38% 11.29% 13.97% 17.47% 18.33% 18.55%
EBITDA Growth		 61.53% 57.71% 65.91% 85.02% 62.10% -332.80% 253.53% 158.87% -673.71% 56.71% 37.82%
EBIT Growth		 50.60% 44.44% 59.02% 67.84% 38.38% -204.40% 190.50% 59.38% -271.22% 49.58% 49.19%
NOPAT Growth		 50.60% 44.49% 78.07% 54.09% 35.07% 75.53% -1.53% 47.41% 48.29% 221.69% 82.22%
Net Income Growth		 51.44% 43.82% 62.30% 59.57% 21.84% -215.56% 300.64% 31.97% -201.32% 43.35% -37.60%
EPS Growth		 55.10% 51.28% 63.86% 51.22% 22.73% -200.00% 53.33% 35.00% -188.24% 110.53% 50.00%
Operating Cash Flow Growth		 -48.73% 184.56% 88.61% 77.80% 182.99% 166.03% -715.40% 47.14% 113.05% 76.90% 41.20%
Free Cash Flow Firm Growth		 102.00% 76.13% 2,580.87% 155.35% 7,627.89% 5,181.75% -34.08% -96.26% 17.94% -48.26% 548.24%
Invested Capital Growth		 -224.82% -89.41% -48.13% -289.70% -607.15% -432.81% -28.93% -15.14% -90.70% -37.61% -40.72%
Revenue Q/Q Growth		 1.77% 7.66% 0.30% 0.79% 1.95% 10.99% -2.42% 3.22% 5.08% 11.80% -2.23%
EBITDA Q/Q Growth		 55.29% 12.53% -95.52% 80.41% -13.12% -898.89% 169.36% -92.49% -1,586.76% 44.12% 320.84%
EBIT Q/Q Growth		 45.07% 6.35% -59.17% 60.72% -5.25% -362.64% 147.32% -117.63% -861.93% 37.16% 240.03%
NOPAT Q/Q Growth		 45.07% 6.35% 14.81% -4.77% 22.32% 64.70% -253.44% 45.74% 23.62% 183.07% -151.65%
Net Income Q/Q Growth		 44.47% 5.47% -43.37% 46.28% -7.36% -281.62% 191.15% -118.21% -375.55% 28.25% 200.40%
EPS Q/Q Growth		 46.34% 13.64% -57.89% 33.33% 15.00% -235.29% 75.44% 7.14% -276.92% 112.24% -216.67%
Operating Cash Flow Q/Q Growth		 64.07% 196.25% -132.95% -94.81% 234.34% 208.54% -200.99% 87.37% 641.46% 156.18% -133.57%
Free Cash Flow Firm Q/Q Growth		 -94.20% -478.37% 409.23% 276.08% 75.63% 148.81% -95.99% -78.65% 5,435.57% 9.14% -49.74%
Invested Capital Q/Q Growth		 32.10% -193.39% -123.89% 12.62% -23.20% -121.06% 45.82% 21.97% -104.06% -59.52% 44.60%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 70.64% 73.97% 74.60% 74.15% 74.93% 74.43% 75.00% 74.26% 74.27% 74.83% 74.50%
EBITDA Margin		 -11.07% -9.00% -17.54% -3.41% -3.78% -34.04% 24.19% 1.76% -24.91% -12.45% 28.13%
Operating Margin		 -16.89% -14.69% -12.48% -12.97% -9.88% -3.14% -7.98% -5.98% -4.35% 3.23% -1.20%
EBIT Margin		 -16.89% -14.69% -23.31% -9.08% -9.38% -39.09% 18.96% -3.24% -29.64% -16.66% 23.86%
Profit (Net Income) Margin		 -17.23% -15.13% -21.63% -11.53% -12.14% -41.74% 38.99% -6.88% -31.14% -19.99% 20.52%
Tax Burden Percent		 100.21% 100.17% 100.23% 100.21% 100.40% 100.14% 99.85% 100.79% 100.04% 100.40% 99.72%
Interest Burden Percent		 101.84% 102.83% 92.56% 126.63% 128.92% 106.62% 205.98% 210.86% 105.02% 119.50% 86.26%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.15% 0.00% 0.00% 0.00% 0.28%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 85.97% 71.18% 41.04% 30.27% 27.52% 37.77% 12.28% 10.50% 19.57% 10.16% 18.77%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -17.57% -15.19% -27.24% -11.86% -12.66% -53.97% 28.11% -5.45% -50.86% -27.74% 43.85%
Return on Assets (ROA)		 -17.93% -15.64% -25.27% -15.05% -16.39% -57.62% 57.81% -11.58% -53.44% -33.28% 37.72%
Return on Common Equity (ROCE)		 85.97% 71.18% 41.04% 30.27% 27.52% 37.77% 12.28% 10.50% 19.57% 10.16% 18.77%
Return on Equity Simple (ROE_SIMPLE)		 63.92% 0.00% 35.80% 27.58% 25.31% 0.00% 12.11% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -16 -15 -13 -13 -10 -3.61 -13 -6.92 -5.29 4.39 -2.27
NOPAT Margin		 -11.82% -10.28% -8.73% -9.08% -6.92% -2.20% -7.97% -4.19% -3.04% 2.26% -1.20%
Net Nonoperating Expense Percent (NNEP)		 3.36% 3.21% 7.88% 1.30% 2.74% 23.91% -28.53% 1.58% 17.92% 17.76% -16.14%
Return On Investment Capital (ROIC_SIMPLE)		 - -9.89% - - - -11.81% -20.29% -20.08% 38.35% -10.05% -14.22%
Cost of Revenue to Revenue		 29.36% 26.03% 25.40% 25.85% 25.07% 25.57% 25.00% 25.74% 25.73% 25.17% 25.50%
SG&A Expenses to Revenue		 33.63% 31.27% 32.52% 32.49% 32.16% 28.28% 31.22% 29.07% 29.74% 26.79% 27.58%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 87.53% 88.66% 87.08% 87.12% 84.81% 77.45% 82.98% 80.25% 78.62% 71.60% 75.70%
Earnings before Interest and Taxes (EBIT)		 -22 -21 -34 -13 -14 -64 30 -5.35 -51 -32 45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -15 -13 -25 -4.94 -5.59 -56 39 2.91 -43 -24 53
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.38 0.38 0.74 0.60 0.59 2.00 0.97 0.85 1.85 2.66 1.50
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.88 0.88 1.23 1.10 1.07 2.44 1.39 1.29 2.24 2.98 1.84
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 66.35 54.56 420.43 156.89 96.09 55.71 27.37
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 143.39 19.39 0.00 0.00 44.59 56.45 60.96
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -1.56 -1.49 -1.33 -1.29 -1.26 -1.08 -1.19 -1.10 -0.96 -0.89 -1.04
Long-Term Debt to Equity		 -1.56 -1.49 -1.33 -1.22 -1.18 -1.01 -1.11 -1.10 -0.96 -0.89 -1.04
Financial Leverage		 -1.00 -0.91 -0.83 -0.89 -0.88 -0.76 -0.79 -0.83 -0.75 -0.59 -0.73
Leverage Ratio		 -2.52 -2.24 -1.65 -1.42 -1.35 -1.22 -1.25 -1.12 -1.06 -1.01 -1.13
Compound Leverage Factor		 -2.57 -2.31 -1.53 -1.80 -1.74 -1.31 -2.58 -2.37 -1.11 -1.21 -0.98
Debt to Total Capital		 279.30% 303.39% 407.18% 439.56% 487.68% 1,433.30% 634.69% 1,081.61% -2,693.88% -850.73% 2,353.12%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 26.89% 29.86% 87.23% 42.49% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 279.30% 303.39% 407.18% 412.67% 457.83% 1,346.07% 592.20% 1,081.61% -2,693.88% -850.73% 2,353.12%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -179.30% -203.39% -307.18% -339.56% -387.68% -1,333.30% -534.69% -981.61% 2,793.88% 950.73% -2,253.12%
Debt to EBITDA		 -2.97 -3.36 -5.05 -7.51 -8.93 -4.78 -14.44 -18.84 -6.46 -14.43 -33.72
Net Debt to EBITDA		 -1.85 -2.06 -3.12 -4.90 -5.78 -2.90 -9.39 -14.07 -4.58 -8.56 -22.58
Long-Term Debt to EBITDA		 -2.97 -3.36 -5.05 -7.05 -8.39 -4.49 -13.47 -18.84 -6.46 -14.43 -33.72
Debt to NOPAT		 -3.52 -3.89 -6.05 -7.72 -8.57 -11.07 -11.10 -12.55 -15.00 -22.19 -39.90
Net Debt to NOPAT		 -2.19 -2.38 -3.73 -5.04 -5.55 -6.72 -7.22 -9.38 -10.62 -13.17 -26.72
Long-Term Debt to NOPAT		 -3.52 -3.89 -6.05 -7.25 -8.05 -10.40 -10.36 -12.55 -15.00 -22.19 -39.90
Altman Z-Score		 -2.00 -2.14 -2.30 -2.47 -2.54 -2.41 -1.98 -2.71 -2.62 -1.77 -1.55
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.30 1.25 1.16 0.98 0.94 0.94 0.87 0.80 0.81 0.86 0.84
Quick Ratio		 1.04 1.02 0.96 0.79 0.75 0.75 0.70 0.59 0.59 0.66 0.62
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.58 -2.19 6.78 26 45 111 4.47 0.95 53 58 29
Operating Cash Flow to CapEx		 -134.64% 156.36% -65.16% -136.20% 130.75% 317.07% -373.05% -31.25% 344.44% 715.61% -156.23%
Free Cash Flow to Firm to Interest Expense		 0.22 -0.82 0.00 4.42 7.53 18.84 0.00 0.14 15.54 7.95 4.01
Operating Cash Flow to Interest Expense		 -4.09 3.92 0.00 -1.17 1.53 4.73 0.00 -0.51 5.68 6.82 -2.30
Operating Cash Flow Less CapEx to Interest Expense		 -7.13 1.41 0.00 -2.03 0.36 3.24 0.00 -2.13 4.03 5.87 -3.78
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.04 1.03 1.17 1.31 1.35 1.38 1.48 1.68 1.72 1.67 1.84
Accounts Receivable Turnover		 50.69 37.33 38.33 50.37 39.29 38.51 25.93 32.48 32.90 36.68 27.45
Inventory Turnover		 4.54 5.31 6.07 6.40 6.66 6.68 6.57 6.47 6.82 6.47 6.11
Fixed Asset Turnover		 5.48 5.07 5.43 5.58 5.74 6.05 6.20 6.54 6.98 7.27 7.39
Accounts Payable Turnover		 22.10 16.59 13.71 11.66 15.71 15.32 9.23 12.31 15.43 13.77 10.63
Days Sales Outstanding (DSO)		 7.20 9.78 9.52 7.25 9.29 9.48 14.08 11.24 11.10 9.95 13.29
Days Inventory Outstanding (DIO)		 80.47 68.78 60.16 57.05 54.84 54.68 55.52 56.38 53.55 56.43 59.78
Days Payable Outstanding (DPO)		 16.52 22.01 26.62 31.31 23.23 23.82 39.53 29.65 23.65 26.51 34.35
Cash Conversion Cycle (CCC)		 71.15 56.56 43.06 32.99 40.90 40.34 30.06 37.97 40.99 39.87 38.72
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -9.06 -27 -60 -52 -64 -142 -77 -60 -122 -195 -108
Invested Capital Turnover		 -627.73 -27.04 -11.06 -17.30 -15.86 -7.14 -9.05 -11.38 -7.12 -4.12 -7.82
Increase / (Decrease) in Invested Capital		 -16 -13 -19 -39 -55 -115 -17 -7.87 -58 -53 -31
Enterprise Value (EV)		 496 484 677 621 622 1,465 859 820 1,488 2,062 1,332
Market Capitalization		 216 208 409 338 341 1,199 600 542 1,225 1,841 1,080
Book Value per Share		 ($2.84) ($2.93) ($3.12) ($3.16) ($3.18) ($3.71) ($3.02) ($2.99) ($3.34) ($3.56) ($3.02)
Tangible Book Value per Share		 ($2.84) ($2.93) ($3.12) ($3.16) ($3.18) ($3.71) ($3.02) ($2.99) ($3.34) ($3.56) ($3.02)
Total Capital		 162 149 106 99 89 31 63 34 -14 -44 16
Total Debt		 452 452 434 434 435 438 399 373 371 372 375
Total Long-Term Debt		 452 452 434 407 408 411 372 373 371 372 375
Net Debt		 281 277 268 283 281 266 259 278 263 221 251
Capital Expenditures (CapEx)		 8.12 6.73 5.32 4.96 6.94 8.83 7.58 11 5.61 6.92 11
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -118 -129 -134 -129 -141 -162 -145 -133 -152 -188 -162
Debt-free Net Working Capital (DFNWC)		 53 47 32 22 13 11 -5.14 -39 -44 -37 -38
Net Working Capital (NWC)		 53 47 32 -4.36 -14 -16 -32 -39 -44 -37 -38
Net Nonoperating Expense (NNE)		 7.21 6.95 19 3.55 7.72 65 -75 4.45 49 43 -41
Net Nonoperating Obligations (NNO)		 281 277 268 283 281 266 259 278 263 221 251
Total Depreciation and Amortization (D&A)		 7.74 8.17 8.31 8.23 8.27 8.29 8.38 8.26 8.21 8.16 8.09
Debt-free, Cash-free Net Working Capital to Revenue		 -20.82% -23.42% -24.38% -22.74% -24.24% -26.91% -23.47% -20.96% -22.95% -27.13% -22.43%
Debt-free Net Working Capital to Revenue		 9.38% 8.57% 5.74% 3.93% 2.18% 1.77% -0.83% -6.15% -6.59% -5.30% -5.28%
Net Working Capital to Revenue		 9.38% 8.57% 5.74% -0.77% -2.41% -2.67% -5.16% -6.15% -6.59% -5.30% -5.28%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.22) ($0.19) ($0.30) ($0.16) ($0.16) ($0.62) $0.56 ($0.10) ($0.47) ($0.35) $0.33
Adjusted Weighted Average Basic Shares Outstanding		 102.65M 101.81M 105.21M 106.88M 109.02M 107.88M 112.04M 114.04M 115.89M 114.87M 119.52M
Adjusted Diluted Earnings per Share		 ($0.22) ($0.19) ($0.30) ($0.20) ($0.17) ($0.57) ($0.14) ($0.13) ($0.49) $0.06 ($0.07)
Adjusted Weighted Average Diluted Shares Outstanding		 102.65M 101.81M 105.21M 111.12M 112.42M 107.88M 120.78M 119.48M 116.77M 116.51M 125.72M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 103.35M 104.69M 105.97M 108.50M 109.69M 111.25M 113.10M 115.24M 116.68M 118.98M 120.49M
Normalized Net Operating Profit after Tax (NOPAT)		 -16 -10 -12 -13 -10 -3.75 -13 -6.92 -5.29 4.39 -2.27
Normalized NOPAT Margin		 -12.27% -7.32% -8.64% -9.08% -6.92% -2.28% -7.97% -4.19% -3.04% 2.26% -1.20%
Pre Tax Income Margin		 -17.20% -15.11% -21.58% -11.50% -12.09% -41.68% 39.05% -6.83% -31.13% -19.91% 20.58%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -8.41 -7.85 0.00 -2.28 -2.33 -10.84 0.00 -0.76 -15.13 -4.45 6.27
NOPAT to Interest Expense		 -5.89 -5.50 0.00 -2.28 -1.72 -0.61 0.00 -0.98 -1.55 0.60 -0.31
EBIT Less CapEx to Interest Expense		 -11.45 -10.36 0.00 -3.14 -3.50 -12.33 0.00 -2.38 -16.78 -5.41 4.79
NOPAT Less CapEx to Interest Expense		 -8.93 -8.00 0.00 -3.14 -2.89 -2.10 0.00 -2.61 -3.20 -0.35 -1.79
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

RealReal (NASDAQ: REAL) has shown revenue growth in its 2025 quarterly results, but remains challenged by recurring losses and cash burn. Gross margins have stayed in a healthy mid-70% range, while the balance sheet remains heavily leveraged with negative equity. Cash flow from operations has not been sustainable in 2025, suggesting continued reliance on external financing to fund operations.

  • Revenue growth: Q4 2025 Operating Revenue reached 194.051 million, up from Q4 2024's 163.995 million (roughly +18%). This reflects an improving top line through 2025.
  • Stable gross margins: Q4 2025 Total Gross Profit of 145.203 million on 194.051 million revenue implies a gross margin around 74%, consistent with the 74%+ margins seen in prior quarters (e.g., Q3 2025 margin ≈ 74%).
  • Q1 2025 profitability anomaly: Net income attributable to common shareholders was approximately 62.4 million, with basic EPS around 0.56, marking a rare positive quarter amid a broader loss trend.
  • Liquidity near mid-2025: Cash balances hovered in the low hundreds of millions historically and stayed near 100–140 million through 2025 (e.g., Q1 2025: 139.6m; Q2 2025: 94.3m; Q3 2025: 108.4m), indicating relatively solid liquidity on hand.
  • Non-cash adjustments: Q4 2025 non-cash adjustments to net income were very large (about 74.18 million), which can distort earnings and obscure cash-based performance.
  • Equity financing activity: Small equity issuances occurred (e.g., Q4 2025 Issuance of Common Equity around 0.8 million), signaling some financing flexibility but limited dilution impact.
  • Margins persist despite revenue volatility: The consistent gross margin suggests stable product margins even as revenue fluctuates, indicating some pricing/mix resilience.
  • Ongoing net losses: Net income remains negative across most quarters (e.g., Q4 2025: -38.78 million; Q3 2025: -54.05 million), highlighting persistent profitability challenges.
  • Operating cash burn: Cash flow from operating activities is negative in every 2025 quarter (Q4 2025: -49.52 million; Q3 2025: -18.98 million; Q2 2025: -3.22 million; Q1 2025: -62.40 million), signaling ongoing cash burn from core operations.
  • Balance sheet fragility: Total liabilities around 750+ million and negative equity (e.g., Q3 2025: Total Liabilities 751.264 million; Total Equity -385.052 million) indicate a leveraged, high-risk balance sheet requiring external financing to sustain operations.
05/14/26 09:47 PM ETAI Generated. May Contain Errors.

RealReal Financials - Frequently Asked Questions

According to the most recent income statement we have on file, RealReal's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

The last 5 years of RealReal's net income performance:
  • 2021: -$236.11 million
  • 2022: -$196.45 million
  • 2023: -$168.47 million
  • 2024: -$134.20 million
  • 2025: -$41.80 million
Find out what analysts predict for RealReal in the coming months.

RealReal's total operating income in 2025 was -$23.93 million, based on the following breakdown:
  • Total Gross Profit: $516.82 million
  • Total Operating Expenses: $540.76 million

Over the last 7 years, RealReal's total revenue changed from $427.46 million in 2018 to $692.85 million in 2025, a change of 62.1%.

RealReal's total liabilities were at $824.55 million at the end of 2025, a 0.7% decrease from 2024, and a 733.7% increase since 2018.

In the past 7 years, RealReal's cash and equivalents has ranged from $34.39 million in 2018 to $418.17 million in 2021, and is currently $151.23 million as of their latest financial filing in 2025.

Over the last 7 years, RealReal's book value per share changed from -30.80 in 2018 to -3.56 in 2025, a change of -88.4%.


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Financial statements for NASDAQ:REAL last updated on 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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