Get started

Financials · REAL

The RealReal Inc. (REAL) financials

For the twelve months ended Sep 30, 2026, The RealReal Inc. reported $782.45M of revenue and -$11.07M of net income.

Revenue, TTM
$782.45M
Revenue growth, YoY
+18.1%
Net income, TTM
-$11.07M
Net margin
-1.4%
Free cash flow, TTM
$34.64M
EPS, diluted, TTM
-$0.28
Cash
$130.41M
P/S
2.05
Market cap
$1.61B
Annual revenue$692.85M
FY2017FY2025
Annual net income-$41.80M
FY2017FY2025
Annual free cash flow$18.37M
FY2017FY2025

REAL revenue and earnings growth

REAL revenueQ3 2026$206.12M

Quarter YoY
+18.7%
QoQ
+7.0%
FY YoY
+15.4%
5Y CAGR
+18.2%

REAL revenue was $206.12M in fiscal Q3 2026 (ended Sep 30, 2026), up 18.7% from a year earlier and up 7.0% from the prior quarter. For the full fiscal 2025 it was $692.85M, up 15.4% from fiscal 2024. Compound annual growth was +18.2% over 5 years. It rose in 6 of the last 8 fiscal years. Fiscal 2025 is the highest of the 9 fiscal years on file.

REAL net incomeQ3 2026$16.01M

REAL net income was $16.01M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$54.05M a year earlier. For the full fiscal 2025 it was -$41.80M, compared with -$134.20M in fiscal 2024.

REAL EPSQ3 2026-$0.04

REAL diluted EPS was -$0.04 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.49 a year earlier. For the full fiscal 2025 it was -$0.70, compared with -$1.24 in fiscal 2024.

REAL free cash flowQ3 2026$15.32M

Quarter YoY
-9.3%
FY YoY
+45.8%

REAL free cash flow was $15.32M in fiscal Q3 2026 (ended Sep 30, 2026), down 9.3% from a year earlier. For the full fiscal 2025 it was $18.37M, up 45.8% from fiscal 2024. Fiscal 2025 is the highest of the 9 fiscal years on file.

Export CSV

Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Revenue$692.85M$600.48M$549.30M$603.49M$467.69M$299.95M$316.35M$213.73M$137.52M
Cost of revenue$176.02M$152.96M$173.03M$254.80M$194.22M$112.38M$114.83M$76.81M$49.88M
Gross profit$516.82M$447.52M$376.28M$348.69M$273.48M$187.57M$201.52M$136.92M$87.64M
Selling, general and admin$201.59M$187.74M$183.79M$195.34M$176.25M$140.65M$110.66M$63.73M$44.03M
Operating income-$23.93M-$56.49M-$166.29M-$189.16M-$214.91M-$172.82M-$100.11M-$73.90M-$51.78M
Interest expense$27.70M$21.38M$10.70M$10.47M$21.53M$5.26M$616.0K$1.15M$762.0K
Pre-tax income-$41.44M-$133.93M-$168.19M-$196.27M-$236.05M-$175.73M-$98.23M-$75.67M-$52.25M
Income tax$363.0K$276.0K$283.0K$172.0K$56.0K$101.0K$199.0K$99.0K$57.0K
Net income-$41.80M-$134.20M-$168.47M-$196.44M-$236.11M-$175.83M-$98.43M-$75.77M-$52.31M
EPS, basic-$0.36-$1.24-$1.65-$2.05-$2.58-$2.01-$2.14-$10.12-$6.74
EPS, diluted-$0.70-$1.24-$1.65-$2.05-$2.58-$2.01-$2.14-$10.12-$6.74
Diluted shares116.5M107.9M101.8M95.9M91.4M87.6M47.5M8.4M8.1M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Cash and equivalents$151.23M$187.12M$175.71M$293.79M$418.17M$350.85M$154.45M$34.39M$16.49M
Receivables$23.82M$13.96M$17.23M$12.21M$7.77M$7.21M$7.78M$7.57M-
Inventory$30.84M$23.58M$22.25M$42.97M$71.02M$42.32M$21.92M$10.36M-
Current assets$227.49M$232.67M$235.95M$372.26M$517.81M$421.47M$406.76M$89.15M-
Total assets$409.03M$423.10M$446.92M$615.64M$754.94M$605.11M$465.25M$135.42M-
Current liabilities$264.24M$248.68M$188.86M$207.51M$187.99M$148.26M$118.55M$88.35M-
Short-term debt-------$5.99M-
Long-term debt-------$3.25M-
Total debt-------$9.24M-
Total liabilities$824.55M$830.47M$750.22M$785.73M$681.82M$413.82M$128.00M$98.91M-
Shareholders' equity-$415.52M-$407.38M-$303.30M-$170.09M$73.13M$191.29M$337.25M-$257.69M-$176.99M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Operating cash flow$37.01M$26.85M-$61.27M-$91.56M-$142.15M-$134.42M-$54.49M-$47.20M-$38.57M
Capital expenditures$18.64M$14.25M$29.18M$22.86M$37.47M$18.25M$24.76M$13.39M$11.60M
Free cash flow$18.37M$12.60M-$90.44M-$114.42M-$179.62M-$152.67M-$79.25M-$60.59M-$50.17M
Investing cash flow-$29.22M-$25.59M-$42.13M-$36.92M-$43.44M$178.00M-$215.36M-$33.92M-$11.30M
Financing cash flow-$28.87M-$4.76M$226.0K$4.10M$252.91M$152.81M$378.67M$106.08M$46.72M
Stock-based compensation$28.94M$29.08M$34.27M$46.14M$48.80M$24.32M$7.71M$2.91M$1.85M
Depreciation and amortization$33.00M$33.10M$31.70M$27.67M$23.53M$18.84M$13.41M$9.29M$5.63M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
Revenue growth, YoY15.4%9.3%-9.0%29.0%55.9%-5.2%48.0%55.4%-
Gross margin74.6%74.5%68.5%57.8%58.5%62.5%63.7%64.1%63.7%
Operating margin-3.5%-9.4%-30.3%-31.3%-46.0%-57.6%-31.6%-34.6%-37.7%
Net margin-6.0%-22.3%-30.7%-32.6%-50.5%-58.6%-31.1%-35.4%-38.0%
Free cash flow margin2.7%2.1%-16.5%-19.0%-38.4%-50.9%-25.1%-28.3%-36.5%
Return on equity-----322.9%-91.9%-29.2%--
Return on assets-10.2%-31.7%-37.7%-31.9%-31.3%-29.1%-21.2%-55.9%-
Current ratio0.860.941.251.792.752.843.431.01-

Source: XBRL data The RealReal Inc. files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

REAL peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
REAL$782.45M+18.1%-$11.07M-1.4%$1.61B
JDCN¥1.31T+13.0%CN¥19.63B1.5%$39.12B
ULTA$12.96B+11.2%$1.21B9.3%$27.57B
DKS$21.15B+53.5%$838.83M4.0%$12.52B
FCFS$4.29B+22.9%$406.49M9.5%$7.96B
BBWI$7.21B-2.2%$781.00M10.8%$4.31B
ASO$6.19B+3.7%$395.85M6.4%$4.14B
RH$3.45B+3.3%$111.51M3.2%$2.48B

REAL FAQ

9 questions
  • What is REAL revenue?
    The RealReal Inc. (REAL) reported $782.45M of revenue for the twelve months ended Sep 30, 2026. That is up 18.1% from the year before. Revenue for fiscal 2025 was $692.85M.
  • Is REAL profitable?
    No. The RealReal Inc. reported a net loss of $11.07M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does REAL have?
    The RealReal Inc. reported $130.41M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is REAL revenue growing?
    The RealReal Inc.'s revenue changed +15.4% in fiscal 2025, to $692.85M. Its compound annual growth rate was +18.2% over 5 years.
  • What is REAL gross margin?
    The RealReal Inc.'s gross profit was $584.14M on $782.45M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 74.7%.
  • What is REAL free cash flow?
    The RealReal Inc. generated $34.64M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $59.49M less capital expenditures.
  • What is REAL earnings per share?
    Diluted earnings per share were -$0.28 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did REAL last report financial results?
    The latest statements here come from The RealReal Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this REAL financial data come from?
    Quantisnow builds these statements from the structured XBRL data The RealReal Inc. files with the SEC. It is provided for information only and is not investment advice.