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    The RealReal Announces Second Quarter 2024 Results

    8/6/24 4:10:05 PM ET
    $REAL
    Other Specialty Stores
    Consumer Discretionary
    Get the next $REAL alert in real time by email

    Q2 2024 Revenue of $145 million, up $14 million or 11% Year-Over-Year

    Q2 2024 Net Loss of $(17) million, or (11.5%) of Total Revenue, an improvement of $25 million Year-Over-Year

    Q2 2024 Adjusted EBITDA of $(1.8) million or (1.2)% of Total Revenue, up $21 million Year-Over-Year

    SAN FRANCISCO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- The RealReal (NASDAQ:REAL)—the world's largest online marketplace for authenticated, resale luxury goods—today reported financial results for its second quarter ended June 30, 2024. Second quarter 2024 gross merchandise value (GMV) and total revenue increased 4% and 11% respectively, compared to the second quarter of 2023. During the quarter, consignment revenue grew 17% compared to the same period in 2023. Second quarter Adjusted EBITDA improved $21 million compared to the second quarter of 2023.

    "We continue to build on our progress and momentum," said John Koryl, Chief Executive Officer of The RealReal. "In the second quarter, we delivered accelerated year-over-year growth and delivered double-digit revenue growth. In the first half of 2024 we grew revenue by $16 million, improved net loss by $76 million and improved Adjusted EBITDA by $46 million compared to the prior year period. We believe this demonstrates the success of the changes we've made and highlights the resilience of our go-forward business model."

    Koryl continued, "As the leading e-commerce marketplace for authenticated luxury goods, we are playing to our strengths and growing with the large market for circular fashion. Due to our extensive and rich dataset of luxury items and transactions, we believe we are well positioned to benefit from the recent advancements in generative AI. Looking ahead, we remain focused on achieving operational excellence, delivering exceptional service to our highly-engaged community, and expanding margins toward a sustainably profitable business."

    Second Quarter Highlights

    • GMV was $441 million, an increase of 4% compared to the same period in 2023
    • Total Revenue was $145 million, an increase of 11% compared to the same period in 2023
    • Gross Profit was $107 million, an increase of $21 million compared to the same period in 2023
    • Gross Margin was 74.1%, an increase of over 800 basis points compared to the same period in 2023
    • Net Loss was $(17.0) million or (11.5)% of total revenue, compared to $(41.3) million or (31.6)% of total revenue in the same period in 2023
    • Adjusted EBITDA was $(1.8) million or (1.2)% of total revenue compared to $(22.3) million or (17.1)% of total revenue in the same period in 2023
    • GAAP basic net loss per share was $(0.16) compared to $(0.41) in the prior year period and GAAP diluted net loss per share was $(0.20) compared to $(0.41) in the prior year period
    • Non-GAAP basic and diluted net loss attributable to common shareholders per share was $(0.13) compared to $(0.30) in the prior year period
    • Top-line-related Metrics
      • Trailing three months active buyers was 381,000, an increase of 9% compared to the same period in 2023
      • Orders were 820,000, an increase of 4% compared to the same period in 2023
      • Average order value (AOV) was $538, which is consistent with the same period in 2023
      • AOV was driven by a year-over-year increase in units per transaction offset by lower average selling prices

    Q3 and Full Year 2024 Guidance

    Based on market conditions as of August 6, 2024, we are updating our full year guidance and providing guidance for third quarter 2024 GMV, total revenue and Adjusted EBITDA, which is a Non-GAAP financial measure.

    We have not reconciled forward-looking Adjusted EBITDA to net income (loss), the most directly comparable GAAP measure, because we cannot predict with reasonable certainty the ultimate outcome of certain components of such reconciliations including payroll tax expense on employee stock transactions that are not within our control, or other components that may arise, without unreasonable effort. For these reasons, we are unable to assess the probable significance of the unavailable information, which could materially impact the amount of future net income (loss).

     Q3 2024Full Year 2024
    GMV$410 - $430 million$1.79 - $1.82 billion
    Total Revenue$135 - $142 million$580 - $595 million
    Adjusted EBITDA$(2) - $1 million$0 - $6 million
       

    Webcast and Conference Call

    The RealReal will post a shareholder letter on its investor relations website at investor.therealreal.com/financial-information/quarterly-results and host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to answer questions regarding its results. Investors and analysts can access the call at https://register.vevent.com/register/BI7e473afdc4f6494aa3d4037bcc8c536f. The call will also be available via live webcast at investor.therealreal.com along with the stockholder letter and supporting slides.

    An archive of the webcast conference call will be available shortly after the call ends at investor.therealreal.com.

    About The RealReal, Inc.

    The RealReal is the world's largest online marketplace for authenticated, resale luxury goods, with 37 million members. With a rigorous authentication process overseen by experts, The RealReal provides a safe and reliable platform for consumers to buy and sell their luxury items. We have hundreds of in-house gemologists, horologists and brand authenticators who inspect thousands of items each day. As a sustainable company, we give new life to pieces by thousands of brands across numerous categories—including women's and men's fashion, fine jewelry and watches, art and home—in support of the circular economy. We make selling effortless with free virtual appointments, in-home pickup, drop-off and direct shipping. We handle all of the work for consignors, including authenticating, using AI and machine learning to determine optimal pricing, photographing and listing their items, as well as shipping and customer service.

    Investor Relations Contact:

    Caitlin Howe

    [email protected]

    Press Contact:

    Mallory Johnston

    [email protected]

    Forward Looking Statements

    This press release contains forward-looking statements relating to, among other things, the future performance of The RealReal that are based on the company's current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," "anticipate," "target," "contemplate," "project," "believe," "estimate," "predict," "intend," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology. These statements include, but are not limited to, statements about future operating and financial results, including our strategies, plans, commitments, objectives and goals, in particular in the context of the impacts of recent geopolitical events, including the conflict between Russia and Ukraine and the Israel-Hamas war, and uncertainty surrounding macro-economic trends, the debt exchange, financial guidance, anticipated growth in 2024, the anticipated impact of generative AI, and long-range financial targets and projections. Actual results could differ materially from those predicted or implied and reported results should not be considered as an indication of future performance. Other factors that could cause or contribute to such differences include, but are not limited to, inflation, macroeconomic uncertainty, geopolitical instability, any failure to generate a supply of consigned goods, pricing pressure on the consignment market resulting from discounting in the market for new goods, failure to efficiently and effectively operate our merchandising and fulfillment operations, labor shortages and other reasons.

    More information about factors that could affect the company's operating results is included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recent Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent Quarterly Reports on Form 10-Q, copies of which may be obtained by visiting the company's Investor Relations website at https://investor.therealreal.com or the SEC's website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the company on the date hereof. The company assumes no obligation to update such statements.

    Non-GAAP Financial Measures

    To supplement our unaudited and condensed financial statements presented in accordance with generally accepted accounting principles ("GAAP"), this earnings release and the accompanying tables and the related earnings conference call contain certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA as a percentage of total revenue ("Adjusted EBITDA Margin"), free cash flow, non-GAAP net loss attributable to common stockholders, and non-GAAP net loss per share attributable to common stockholders, basic and diluted. We have provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures in this earnings release.

    We do not, nor do we suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors should also note that non-GAAP financial measures we use may not be the same non-GAAP financial measures, and may not be calculated in the same manner, as that of other companies, including other companies in our industry.

    Adjusted EBITDA is a key performance measure that our management uses to assess our operating performance. Because Adjusted EBITDA facilitates internal comparisons of our historical operating performance on a more consistent basis, we use this measure as an overall assessment of our performance, to evaluate the effectiveness of our business strategies and for business planning purposes. Adjusted EBITDA may not be comparable to similarly titled metrics of other companies.

    We calculate Adjusted EBITDA as net loss before interest income, interest expense, other (income) expense net, provision (benefit) for income taxes, depreciation and amortization, further adjusted to exclude stock-based compensation, employer payroll tax expense on employee stock transactions, legal settlement charges, restructuring, warehouse fire costs (net), CEO transition costs, gain on extinguishment of debt, change in fair value of warrant liabilities and certain one-time expenses. The employer payroll tax expense related to employee stock transactions are tied to the vesting or exercise of underlying equity awards and the price of our common stock at the time of vesting, which may vary from period to period independent of the operating performance of our business. Adjusted EBITDA has certain limitations as the measure excludes the impact of certain expenses that are included in our statements of operations that are necessary to run our business and should not be considered as an alternative to net loss or any other measure of financial performance calculated and presented in accordance with GAAP.

    In particular, the exclusion of certain expenses in calculating Adjusted EBITDA and Adjusted EBITDA Margin facilitates operating performance comparisons on a period-to-period basis and, in the case of exclusion of the impact of stock-based compensation and the related employer payroll tax expense on employee stock transactions, excludes an item that we do not consider to be indicative of our core operating performance. Investors should, however, understand that stock-based compensation and the related employer payroll tax expense will be a significant recurring expense in our business and an important part of the compensation provided to our employees. Accordingly, we believe that Adjusted EBITDA and Adjusted EBITDA Margin provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors.

    Free cash flow is a non-GAAP financial measure that is calculated as net cash (used in) provided by operating activities less net cash used to purchase property and equipment and capitalized proprietary software development costs. We believe free cash flow is an important indicator of our business performance, as it measures the amount of cash we generate. Accordingly, we believe that free cash flow provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management.

    Non-GAAP net loss per share attributable to common stockholders, basic and diluted is a non-GAAP financial measure that is calculated as GAAP net loss plus stock-based compensation expense, provision (benefit) for income taxes, payroll tax expenses on employee stock transactions, CEO transition costs, restructuring charges, legal settlement charges, warehouse fire costs (net), gain on extinguishment of debt, change in fair value of warrant liabilities and certain one-time expenses divided by weighted average shares outstanding. We exclude the effect of our liability classified warrants to arrive at the weighted average common shares outstanding when their effect is anti-dilutive. We believe that making these adjustments before calculating per share amounts for all periods presented provides a more meaningful comparison between our operating results from period to period.



    THE REALREAL, INC.

    Statements of Operations

    (In thousands, except share and per share data)

    (Unaudited)
     
     Three Months Ended June 30, Six Months Ended June 30,
      2024   2023   2024   2023 
    Revenue:       
    Consignment revenue$112,714  $96,577  $228,362  $199,220 
    Direct revenue 16,724   20,887   29,433   45,840 
    Shipping services revenue 15,496   13,391   30,939   27,699 
    Total revenue 144,934   130,855   288,734   272,759 
    Cost of revenue:       
    Cost of consignment revenue 13,108   14,575   26,388   30,104 
    Cost of direct revenue 13,760   20,446   26,045   45,476 
    Cost of shipping services revenue 10,600   9,660   21,556   21,022 
    Total cost of revenue 37,468   44,681   73,989   96,602 
    Gross profit 107,466   86,174   214,745   176,157 
    Operating expenses:       
    Marketing 13,759   15,351   29,042   32,869 
    Operations and technology 65,422   65,575   128,394   133,607 
    Selling, general and administrative 47,082   44,326   93,852   94,171 
    Restructuring —   1,864   196   38,252 
    Total operating expenses (1) 126,263   127,116   251,484   298,899 
    Loss from operations (18,797)  (40,942)  (36,739)  (122,742)
    Change in fair value of warrant liability 5,630   —   (9,953)  — 
    Gain on extinguishment of debt —   —   4,177   — 
    Interest income 2,263   2,404   4,332   4,457 
    Interest expense (5,769)  (2,678)  (9,520)  (5,345)
    Loss before provision for income taxes (16,673)  (41,216)  (47,703)  (123,630)
    Provision for income taxes 35   114   106   200 
    Net loss attributable to common stockholders$(16,708) $(41,330) $(47,809) $(123,830)
    Net loss per share attributable to common stockholders       
    Basic$(0.16) $(0.41) $(0.45) $(1.23)
    Diluted$(0.20) $(0.41) $(0.45) $(1.23)
    Weighted average shares used to compute net loss per share attributable to common stockholders       
    Basic 106,882,054   100,973,105   106,047,054   100,294,359 
    Diluted 111,117,389   100,973,105   106,047,054   100,294,359 
            
    (1) Includes stock-based compensation as follows:       
    Marketing$72  $349  $482  $799 
    Operating and technology 2,690   3,301   4,994   6,992 
    Selling, general and administrative 4,940   5,116   9,346   9,966 
    Total$7,702  $8,766  $14,822  $17,757 



    THE REALREAL, INC.

    Condensed Balance Sheets

    (In thousands, except share and per share data)

    (Unaudited)
     
     June 30,

    2024
     December 31,

    2023
    Assets   
    Current assets   
    Cash and cash equivalents$150,746  $175,709 
    Accounts receivable, net 16,450   17,226 
    Inventory, net 21,119   22,246 
    Prepaid expenses and other current assets 19,134   20,766 
    Total current assets 207,449   235,947 
    Property and equipment, net 96,769   104,087 
    Operating lease right-of-use assets 82,952   86,348 
    Restricted cash 14,911   14,914 
    Other assets 5,342   5,627 
    Total assets$407,423  $446,923 
    Liabilities and Stockholders' Deficit   
    Current liabilities   
    Accounts payable$12,650  $8,961 
    Accrued consignor payable 65,465   77,122 
    Operating lease liabilities, current portion 22,080   20,094 
    Convertible senior notes, net, current portion 26,550   — 
    Other accrued and current liabilities 85,059   82,685 
    Total current liabilities 211,804   188,862 
    Operating lease liabilities, net of current portion 97,024   104,856 
    Convertible senior notes, net 276,159   452,421 
    Non-convertible notes, net 131,278   — 
    Warrant liability 20,370   — 
    Other noncurrent liabilities 6,042   4,083 
    Total liabilities 742,677   750,222 
    Stockholders' deficit:   
    Common stock, $0.00001 par value; 500,000,000 shares authorized as of June 30, 2024, and December 31, 2023; 108,495,705 and 104,670,500 shares issued and outstanding as of June 30, 2024, and December 31, 2023, respectively 1   1 
    Additional paid-in capital 832,179   816,325 
    Accumulated deficit (1,167,434)  (1,119,625)
    Total stockholders' deficit (335,254)  (303,299)
    Total liabilities and stockholders' deficit$407,423  $446,923 



    THE REALREAL, INC.

    Condensed Statements of Cash Flows

    (In thousands)

    (Unaudited)
     
     Six Months Ended June 30,
      2024   2023 
    Cash flows from operating activities:   
    Net loss$(47,809) $(123,830)
    Adjustments to reconcile net loss to cash used in operating activities:   
    Depreciation and amortization 16,536   15,786 
    Stock-based compensation expense 14,822   17,757 
    Reduction of operating lease right-of-use assets 7,443   9,168 
    Bad debt expense 1,246   1,029 
    Non-cash interest expense 5,701   — 
    Issuance costs allocated to liability classified warrants 374   — 
    Accretion of debt discounts and issuance costs 1,045   1,279 
    Property, plant, equipment, and right-of-use asset impairments —   33,505 
    Provision for inventory write-downs and shrinkage 1,840   6,531 
    Gain on debt extinguishment (4,177)  — 
    Change in fair value of warrant liability 9,953   — 
    Loss related to warehouse fire, net 389   — 
    Other adjustments (672)  56 
    Changes in operating assets and liabilities:   
    Accounts receivable, net (470)  5,184 
    Inventory, net (629)  10,532 
    Prepaid expenses and other current assets 4,796   4,121 
    Other assets 184   (2,820)
    Operating lease liability (9,893)  (11,437)
    Accounts payable 2,813   1,763 
    Accrued consignor payable (12,704)  (19,706)
    Other accrued and current liabilities (957)  (9,639)
    Other noncurrent liabilities (52)  (137)
    Net cash used in operating activities (10,221)  (60,858)
    Cash flow from investing activities:   
    Proceeds from maturities of short-term investments —   — 
    Capitalized proprietary software development costs (5,138)  (7,514)
    Purchases of property and equipment (5,142)  (19,764)
    Net cash used in investing activities (10,280)  (27,278)
    Cash flow from financing activities:   
    Proceeds from exercise of stock options 112   3 
    Taxes paid related to restricted stock vesting (364)  (411)
    Proceeds from issuance of stock in connection with the Employee Stock Purchase Program 624   446 
    Cash received from settlement of capped calls in conjunction with the Note Exchange 396   — 
    Issuance costs paid related to the Note Exchange (5,233)  — 
    Net cash provided by (used in) financing activities (4,465)  38 
    Net decrease in cash, cash equivalents and restricted cash (24,966)  (88,098)
    Cash, cash equivalents and restricted cash   
    Beginning of period 190,623   293,793 
    End of period$165,657  $205,695 
     

    The following table reflects the reconciliation of net loss to Adjusted EBITDA for each of the periods indicated (in thousands):

     Three Months Ended June 30, Six Months Ended June 30,
      2024   2023   2024   2023 
    Adjusted EBITDA Reconciliation:       
    Net loss$(16,708) $(41,330) $(47,809) $(123,830)
    Depreciation and amortization 8,227   7,965   16,536   15,786 
    Interest income (2,263)  (2,404)  (4,332)  (4,457)
    Interest expense 5,769   2,678   9,520   5,345 
    Provision for income taxes 35   114   106   200 
    EBITDA (4,940)  (32,977)  (25,979)  (106,956)
    Stock-based compensation 7,702   8,766   14,822   17,757 
    Payroll taxes expense on employee stock transactions 118   24   174   68 
    Legal settlement 600   —   600   1,100 
    Restructuring charges (1) —   1,864   196   38,252 
    Gain on extinguishment of debt (2) —   —   (4,177)  — 
    Change in fair value of warrant liability (3) (5,630)  —   9,953   — 
    One time expenses (4) 389   —   389   159 
    Adjusted EBITDA$(1,761) $(22,323) $(4,022) $(49,620)
     

    (1) The restructuring charges for the three and six months ended June 30, 2023 consist of impairment of right-of-use assets and property and equipment, employee severance charges, and other charges, including legal and transportation expenses. See "Note 10 - Restructuring" in the notes to the unaudited financial statements for disclosure regarding the restructuring expenses incurred.

    (2) The gain on extinguishment of debt for the six months ended June 30, 2024 reflects the difference between the carrying value of the Exchanged Notes and the fair value of the 2029 Notes.

    (3) The change in fair value of warrant liability for the six months ended June 30, 2024 reflects the remeasurement of the warrants issued by the Company in connection with the Note Exchange in February 2024.

    (4) One time expenses for the three and six months ended June 30, 2024 reflects the loss related to the fire at our New Jersey authentication center, net of estimated insurance proceeds. See "Note 11 - Commitments and Contingencies" in the notes to the unaudited financial statements for disclosure regarding the event. One time expenses for the three and six months ended June 30, 2023 consists of retention bonuses for certain executives incurred in connection with our founder's resignation on June 6, 2022.

    A reconciliation of GAAP net loss to non-GAAP net loss attributable to common stockholders, the most directly comparable GAAP financial measure, in order to calculate non-GAAP net loss attributable to common stockholders per share, basic and diluted, is as follows (in thousands, except share and per share data):

     Three Months Ended June 30, Six Months Ended June 30,
      2024   2023   2024   2023 
    Net loss$(16,708) $(41,330) $(47,809) $(123,830)
    Stock-based compensation 7,702   8,766   14,822   17,757 
    Payroll tax expense on employee stock transactions 118   24   174   68 
    Legal settlement 600   —   600   1,100 
    Restructuring —   1,864   196   38,252 
    Provision for income taxes 35   114   106   200 
    Gain on extinguishment of debt —   —   (4,177)  — 
    Change in fair value of warrant liability (5,630)  —   9,953   — 
    One time expenses$389  $—  $389  $159 
    Non-GAAP net loss attributable to common stockholders$(13,494) $(30,562) $(25,746) $(66,294)
    Weighted-average common shares outstanding to calculate Non-GAAP net loss attributable to common stockholders per share, basic and diluted 106,882,054   100,973,105   106,047,054   100,294,359 
    Non-GAAP net loss attributable to common stockholders per share, basic and diluted$(0.13) $(0.30) $(0.24) $(0.66)
     

    The following table presents a reconciliation of net cash used in operating activities to free cash flow for each of the periods indicated (in thousands):

     Three Months Ended June 30, Six Months Ended June 30,
      2024   2023   2024   2023 
    Net cash used in operating activities$(6,754) $(30,425) $(10,221) $(60,858)
    Purchase of property and equipment and capitalized proprietary software development costs (4,959)  (11,358)  (10,280)  (27,278)
    Free Cash Flow$(11,713) $(41,783) $(20,501) $(88,136)
     

    Key Financial and Operating Metrics:

     June 30,

    2022
     September 30,

    2022
     December 31,

    2022
     March 31,

    2023
     June 30,

    2023
     September 30,

    2023
     December 31,

    2023
     March 31, 2024 June 30,

    2024
      
    GMV$454,163  $440,659  $492,955  $444,366  $423,341  $407,608  $450,668  $451,941  $440,914 
    NMV$332,508  $325,105  $367,382  $327,805  $303,918  $302,912  $335,245  $334,815  $329,422 
    Consignment Revenue$96,917  $93,874  $110,199  $102,643  $96,577  $102,852  $113,500  $115,648  $112,714 
    Direct Revenue$42,646  $34,005  $33,252  $24,953  $20,887  $17,356  $15,964  $12,709  $16,724 
    Shipping Services Revenue$14,872  $14,824  $16,204  $14,308  $13,391  $12,964  $13,909  $15,443  $15,496 
    Number of Orders 934   952   993   891   789   794   826   840   820 
    Take Rate 36.1%  36.0%  35.7%  37.4%  36.7%  38.1%  37.7%  38.4%  38.5%
    Active Buyers (1) 385   404   430   388   351   364   381   384   381 
    AOV$486  $463  $496  $499  $537  $513  $545  $538  $538 
     

    (1) During the three months ended June 30, 2024, we updated active buyers to be buyers who purchased goods through our online marketplace during the period presented. For example, active buyers for the three months ended June 30, 2024 were buyers who purchased goods during the 3 months ended. Previously we had measured buyers who purchased goods during the 12 months ended on the last day of the period presented. The prior periods have been updated to active buyers during the 3 months ended on the last day of the period presented.



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    Cowen
    8/10/2022$7.00 → $2.75Buy → Underperform
    BofA Securities
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    • President Sahi Levesque Rati bought $48 worth of shares (11 units at $4.32) and sold $121,259 worth of shares (46,488 units at $2.61), decreasing direct ownership by 4% to 1,210,375 units (SEC Form 4)

      4 - TheRealReal, Inc. (0001573221) (Issuer)

      8/21/24 6:58:18 PM ET
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    • Chief Executive Officer Koryl John E bought $49,997 worth of shares (19,919 units at $2.51), increasing direct ownership by 0.67% to 3,008,471 units (SEC Form 4)

      4 - TheRealReal, Inc. (0001573221) (Issuer)

      8/9/24 4:08:52 PM ET
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    • Katz Karen bought $24,640 worth of shares (6,400 units at $3.85), increasing direct ownership by 4% to 183,376 units (SEC Form 4) (Amendment)

      4/A - TheRealReal, Inc. (0001573221) (Issuer)

      3/25/24 4:36:04 PM ET
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    Analyst Ratings

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    • The RealReal upgraded by Wells Fargo with a new price target

      Wells Fargo upgraded The RealReal from Equal Weight to Overweight and set a new price target of $15.00 from $4.00 previously

      12/9/24 8:28:28 AM ET
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    • Northland Capital initiated coverage on The RealReal with a new price target

      Northland Capital initiated coverage of The RealReal with a rating of Outperform and set a new price target of $6.00

      9/16/24 9:29:21 AM ET
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    • The RealReal downgraded by Robert W. Baird with a new price target

      Robert W. Baird downgraded The RealReal from Outperform to Neutral and set a new price target of $2.75 from $3.25 previously

      1/4/24 8:42:04 AM ET
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    • Jean Barbagelata Joins Tech CU's Board of Directors

      SAN JOSE, Calif., July 01, 2025 (GLOBE NEWSWIRE) -- Today, Tech CU (Technology Credit Union) announced the appointment of Jean Barbagelata to its Board of Directors, serving on both the Compensation Committee and the Nominating and Governance Committee. With more than 30 years of experience in senior leadership roles, Jean brings deep expertise in scaling technology companies, guiding organizational governance, and fostering inclusive, high-performance cultures. "We're thrilled to welcome Jean to our Board of Directors," said Todd Harris, CEO of Tech CU. "Her experience building and leading high-performing teams at both Fortune 500 companies and innovative startups adds an important per

      7/1/25 11:00:00 AM ET
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    • The RealReal Announces Extinguishment of Remaining 3% Convertible Senior Notes Due 2025

      SAN FRANCISCO, June 16, 2025 (GLOBE NEWSWIRE) -- The RealReal (NASDAQ:REAL)—the world's largest online marketplace for authenticated, resale luxury goods—on June 13, 2025, paid the remaining $26,749,000 in aggregate principal amount of its 3% Convertible Senior Notes due 2025 ("2025 Notes"). The RealReal has reduced indebtedness by a total of $63 million year to date and $81 million over the last 16 months. Ajay Gopal, The RealReal's Chief Financial Officer, stated, "The paydown of our remaining 2025 Notes represents another milestone on our path to reducing leverage and strengthening our balance sheet. Given the capital-light nature of our business and our favorable working capital dynam

      6/16/25 4:05:14 PM ET
      $REAL
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    • The RealReal Expands to Summit, New Jersey with New Store Opening

      SUMMIT, N.J., June 05, 2025 (GLOBE NEWSWIRE) -- Today, The RealReal (NASDAQ:REAL), the world's largest online marketplace for authenticated, resale luxury goods, proudly announces the opening of its newest store in Summit, New Jersey. This marks The RealReal's 16th store nationwide and a continued expansion in the tri-state area, bringing expert-authenticated luxury resale to the vibrant Summit community. Designed to be as inspiring as it is shoppable, the Summit store blends sustainability and luxury with a deep, moody palette of burgundy and brass tones, contrasted by light wood flooring and a glowing statement fixture for a warm yet elevated feel. In a tribute to New Jersey's legacy

      6/5/25 9:00:00 AM ET
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    Insider Trading

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    • Director Katz Karen was granted 3,392 shares, increasing direct ownership by 2% to 207,707 units (SEC Form 4)

      4 - TheRealReal, Inc. (0001573221) (Issuer)

      7/1/25 4:11:39 PM ET
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    • Director Leondakis Niki was granted 1,826 shares, increasing direct ownership by 1% to 180,087 units (SEC Form 4)

      4 - TheRealReal, Inc. (0001573221) (Issuer)

      7/1/25 4:09:03 PM ET
      $REAL
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    • Director Krolik Robert J gifted 25,000 shares, decreasing direct ownership by 13% to 165,332 units (SEC Form 4)

      4 - TheRealReal, Inc. (0001573221) (Issuer)

      6/13/25 4:05:02 PM ET
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    SEC Filings

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    • The RealReal Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

      8-K - TheRealReal, Inc. (0001573221) (Filer)

      6/13/25 4:29:54 PM ET
      $REAL
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    • SEC Form 10-Q filed by The RealReal Inc.

      10-Q - TheRealReal, Inc. (0001573221) (Filer)

      5/8/25 4:14:45 PM ET
      $REAL
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    • The RealReal Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - TheRealReal, Inc. (0001573221) (Filer)

      5/8/25 4:11:16 PM ET
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    Leadership Updates

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    • PROG Holdings Appoints Two New Independent Directors to Board

      PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, Four Technologies, and Build, today announced the appointment of Robert Julian and Daniela Mielke to its Board of Directors. "Robert and Daniela are recognized leaders in industries that are especially relevant to PROG Holdings. Robert's consumer retail and e-commerce financial expertise, as well as Daniela's leadership in digital payments, fintech and e-commerce, will make them both highly valuable additions to our Board," said Ray Robinson, Chairman of PROG Holdings. "We're pleased to welcome Robert and Daniela as our newest independent directors," said Steve Michaels, PROG Holdings' P

      11/12/24 4:30:00 PM ET
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    • The RealReal Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

      SAN FRANCISCO, May 08, 2024 (GLOBE NEWSWIRE) -- The RealReal, Inc. (NASDAQ:REAL) – the world's largest online marketplace for authenticated, resale luxury goods – today announced that it granted equity awards on May 8, 2024 as a material inducement to the employment of the company's newly-hired Chief Financial Officer, Ajay Gopal. In connection with the appointment of Gopal as Chief Financial Officer on March 18, 2024, The RealReal granted Gopal employment inducement awards consisting of (a) 700,000 time-based restricted stock units ("RSUs") and (b) 550,000 performance-based restricted stock units ("PSUs"), each with an effective grant date of May 8, 2024. The RSUs will vest 25% on the

      5/8/24 4:05:00 PM ET
      $REAL
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    • The RealReal Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

      SAN FRANCISCO, March 04, 2024 (GLOBE NEWSWIRE) -- The RealReal, Inc. (NASDAQ:REAL) – the world's largest online marketplace for authenticated, resale luxury goods – today announced that it granted equity awards on March 4, 2024 as a material inducement to the employment of the company's newly-hired Chief People Officer, Chatelle Lynch, and Chief Marketing Officer, Sri Batchu. In connection with the appointment of Lynch as Chief People Officer on December 26, 2023 and Batchu as Chief Marketing Officer on February 26, 2024, The RealReal granted each of Lynch and Batchu an employment inducement award consisting of 650,000 restricted stock units ("RSUs"). The RSUs will vest 25% on the first a

      3/4/24 4:05:00 PM ET
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    • The RealReal Announces First Quarter 2025 Results

      Q1 2025 Revenue of $160 million, up 11% Year-Over-YearQ1 2025 Net Income of $62 million including $80 million of non-cash gainsQ1 2025 Adjusted EBITDA of $4.1 million improved $6.4 million Year-Over-Year SAN FRANCISCO, May 08, 2025 (GLOBE NEWSWIRE) -- The RealReal, Inc. (NASDAQ:REAL)—the world's largest online marketplace for authenticated, resale luxury goods—today reported financial results for its first quarter ended March 31, 2025. First quarter 2025 gross merchandise value (GMV) and total revenue increased 9% and 11%, respectively, compared to the first quarter of 2024. During the quarter, gross margin of 75.0% improved 40 basis points compared to the same period in 2024. First quart

      5/8/25 4:05:00 PM ET
      $REAL
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    • The RealReal Announces Timing of Its First Quarter 2025 Earnings Conference Call

      SAN FRANCISCO, April 17, 2025 (GLOBE NEWSWIRE) -- The RealReal (NASDAQ:REAL)—the world's largest online marketplace for authenticated, resale luxury goods—today announced that it will release its financial results for the first quarter, ended March 31, 2025, after the market closes on May 8, 2025. The RealReal will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to review its financial results. A live webcast of the conference call will be available online at investor.therealreal.com. The archived webcast will be available shortly after the call at the same location. To access the conference call by phone, participants will need to register to obtain a dial-in

      4/17/25 4:41:58 PM ET
      $REAL
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    • The RealReal Announces Fourth Quarter and Full Year 2024 Results

      Fourth quarter revenue of $164 million, up 14% year-over-year, a record high for the company2024 Net Loss of $134 million improved $34 million year-over-year, resulting in positive $9 million of Adjusted EBITDA2024 Operating Cash Flow of positive $27 million, increased $88 million year-over year, resulting in positive Free Cash Flow for the year SAN FRANCISCO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The RealReal, Inc. (NASDAQ:REAL)—the world's largest online marketplace for authenticated, resale luxury goods—today reported financial results for its fourth quarter and full year ended December 31, 2024. Fourth quarter 2024 gross merchandise value (GMV) and total revenue increased 12% and

      2/20/25 4:05:43 PM ET
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    • SEC Form SC 13D filed by The RealReal Inc.

      SC 13D - TheRealReal, Inc. (0001573221) (Subject)

      11/1/24 9:00:48 AM ET
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    • Amendment: SEC Form SC 13G/A filed by The RealReal Inc.

      SC 13G/A - TheRealReal, Inc. (0001573221) (Subject)

      10/1/24 4:17:51 PM ET
      $REAL
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    • SEC Form SC 13G filed by The RealReal Inc.

      SC 13G - TheRealReal, Inc. (0001573221) (Subject)

      9/5/24 4:09:09 PM ET
      $REAL
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