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What this page is: Delvantic's full research page for The RealReal, Inc. (REAL) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
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any ticker resolves at delvantic.com/stock/TICKER ·
raw inputs are public-company filings and market data (via licensed data feeds);
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The RealReal, Inc.
REAL NASDAQ
Consumer Cyclical · Luxury Goods
San Francisco, CA 94133, United States
therealreal.com
Price
$10.94
Market Cap
$1.3B
Employees
3,140
Beta
2.74
Avg Volume
3,133,816
CEO
Ms. Rati Sahi Levesque
The RealReal, Inc. is an online marketplace for the authenticated resale of luxury goods on a global scale. The platform specializes in pre-owned designer items across women's fashion, men's fashion, jewelry, and watches, featuring luxury brands such as Chanel, Gucci, Louis Vuitton, Hermes, and Rolex. Operating as a full-service authenticated luxury reseller, The RealReal handles the complete transaction process for sellers, including authentication, AI-driven pricing optimization, professional photography, listing creation, shipping, and customer service. The company provides multiple consignment methods through its digital channels and physical retail locations, enabling both buyers and sellers to participate in the luxury goods resale market. Founded in 2011 and headquartered in San Francisco, California, The RealReal operates as a significant player in the authenticated luxury resale sector, promoting the recirculation of designer goods and supporting more sustainable consumption practices within the luxury fashion industry.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 14 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Aug 6, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
+50.0%
Feb '26
+54.8%
Mar '26
+0.0%
May '26
+4.4%
Jul '26
+50.0%
Aug '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| Aug 6, 2026 | $-0.02 | $-0.01 +50.0% | — | — |
| Jul 30, 2026 | $2.51 | $2.62 +4.4% | — | — |
| May 7, 2026 | $-0.01 | $-0.01 +0.0% | — | — |
| Mar 17, 2026 | $0.42 | $0.65 +54.8% | — | — |
| Feb 26, 2026 | $0.04 | $0.06 +50.0% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Aug 6, 2026 | 10-Q | View |
| Aug 6, 2026 | 8-K | View |
| Jul 30, 2026 | SCHEDULE 13G/A | View |
| Jul 29, 2026 | 4 | View |
| Jul 29, 2026 | 4 | View |
| Jul 29, 2026 | 4 | View |
| Jul 29, 2026 | 4 | View |
| Jul 29, 2026 | 4 | View |
| Jul 29, 2026 | 4 | View |
| Jul 8, 2026 | SCHEDULE 13G/A | View |
| Jul 1, 2026 | 4 | View |
| Jul 1, 2026 | 4 | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 14, 2026 8:29am (just now)
Current data · timestamped when a report runs
$10.94
Change · Aug 14
-0.23 (-2.06%)
Day Range
$10.87 – $11.28
52-Week Range
$7.21 – $17.39
50-Day MA
$11.32
200-Day MA
$12.16
Volume
2,660,878.00
Share Structure
Outstanding
120,487,728.00
Float
96,123,831.00
Free Float
79.8%
Normal free float
— 79.8% of shares trade freely, ~20.2% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
-15.63
Stock Price: $10.94
EPS (Diluted): -0.70
EPS (Diluted): -0.70
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
—
Stock Price: $10.94
Total Equity: -$415.52M
Shares: 116,512,265
Total Equity: -$415.52M
Shares: 116,512,265
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
129.30
Market Cap: $1.33B
Total Debt: $0.00
Cash: $151.23M
EBITDA: $9.07M
Total Debt: $0.00
Cash: $151.23M
EBITDA: $9.07M
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$1.2B
Market Cap: $1.33B
Total Debt: $0.00
Cash: $151.23M
Total Debt: $0.00
Cash: $151.23M
P/S Ratio (Price per dollar of revenue)
HEXStock Price / Revenue Per Share
1.84
Stock Price: $10.94
Revenue: $692.85M
Shares: 116,512,265
Revenue: $692.85M
Shares: 116,512,265
EV/Sales (Total value vs revenue — works when P/E can't)
CALC1.69
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
74.6%
Gross Profit: $516.82M
Revenue: $692.85M
Revenue: $692.85M
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
-3.5%
Operating Income: -$23.93M
Revenue: $692.85M
Revenue: $692.85M
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
-6.0%
Net Income: -$41.80M
Revenue: $692.85M
Revenue: $692.85M
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
—
Net Income: -$41.80M
Total Equity: -$415.52M
Total Equity: -$415.52M
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
—
Operating Income: -$23.93M
Tax Rate: -0.9%
Equity: -$415.52M
Total Debt: $0.00
Cash: $151.23M
Tax Rate: -0.9%
Equity: -$415.52M
Total Debt: $0.00
Cash: $151.23M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
0.86
Current Assets: $227.49M
Current Liabilities: $264.24M
Current Liabilities: $264.24M
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
—
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: -$415.52M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: -$415.52M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$5.95
Revenue: $692.85M
Shares: 116,512,265
Shares: 116,512,265
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
—
Total Equity: -$415.52M
Shares: 116,512,265
Shares: 116,512,265
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$0.16
Operating CF: $37.01M
CapEx: -$18.64M
Shares: 116,512,265
CapEx: -$18.64M
Shares: 116,512,265
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
—
Last Dividend: $0.00
Stock Price: $10.94
Stock Price: $10.94
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$41.80M
Net Income: -$41.80M
Dividends paid not available in cash flow statement
Income Statement (Annual)
Last updated: Aug 11, 2026 6:24am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $467.7M | $603.5M | $549.3M | $600.5M | $692.8M |
| Cost of Revenue | $194.2M | $254.8M | $173.0M | $153.0M | $176.0M |
| Gross Profit | $273.5M | $348.7M | $376.3M | $447.5M | $516.8M |
| Operating Expenses | $488.4M | $537.9M | $542.6M | $504.0M | $540.8M |
| Operating Income | -$214.9M | -$189.2M | -$166.3M | -$56.5M | -$23.9M |
| Net Income | -$236.1M | -$196.4M | -$168.5M | -$134.2M | -$41.8M |
| EBITDA | -$191.4M | -$161.5M | -$134.6M | -$23.4M | $9.1M |
| EPS | $-2.58 | $-2.05 | $-1.65 | $-1.24 | $-0.36 |
| EPS (Diluted) | $-2.58 | $-2.05 | $-1.65 | $-1.24 | $-0.70 |
Balance Sheet (Annual)
Last updated: Aug 11, 2026 6:24am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $418.2M | $293.8M | $175.7M | $172.2M | $151.2M |
| Total Current Assets | $517.8M | $372.3M | $235.9M | $232.7M | $227.5M |
| Total Assets | $754.9M | $615.6M | $446.9M | $423.1M | $409.0M |
| Current Liabilities | $188.0M | $207.5M | $188.9M | $248.7M | $264.2M |
| Long-Term Debt | — | — | — | — | — |
| Total Liabilities | $681.8M | $785.7M | $750.2M | $830.5M | $824.6M |
| Total Equity | $73.1M | -$170.1M | -$303.3M | -$407.4M | -$415.5M |
| Retained Earnings | -$768.1M | -$951.2M | -$1.1B | -$1.3B | -$1.3B |
Cash Flow (Annual)
Last updated: Aug 11, 2026 6:24am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$142.2M | -$91.6M | -$61.3M | $26.8M | $37.0M |
| Capital Expenditure | -$37.5M | -$22.9M | -$29.2M | -$14.2M | -$18.6M |
| Free Cash Flow | -$179.6M | -$114.4M | -$90.4M | $12.6M | $18.4M |
| Acquisitions (net) | — | — | — | — | — |
| Net Debt Issued / (Repaid) | $0 | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | — | — | — | — | — |
| Net Change in Cash | $67.3M | -$124.4M | -$103.2M | -$3.5M | -$21.1M |
Growth Trends (YoY %)
Last updated: Aug 11, 2026 6:24am (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +29.0% | -9.0% | +9.3% | +15.4% |
| Gross Profit Growth | +27.5% | +7.9% | +18.9% | +15.5% |
| Operating Income Growth | +12.0% | +12.1% | +66.0% | +57.6% |
| Net Income Growth | +16.8% | +14.2% | +20.3% | +68.9% |
| EBITDA Growth | +15.6% | +16.7% | +82.6% | +138.8% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-27 | KATZ KAREN | A-Award | 14,150.00 | $0.00 | $0 |
| 2026-07-27 | KROLIK ROBERT J | A-Award | 14,150.00 | $0.00 | $0 |
| 2026-07-27 | Miller James R. | A-Award | 14,150.00 | $0.00 | $0 |
| 2026-07-27 | Coleman Caretha | A-Award | 14,150.00 | $0.00 | $0 |
| 2026-07-27 | McCaffrey Mark | A-Award | 14,150.00 | $0.00 | $0 |
| 2026-07-27 | McKeehan Jennifer | A-Award | 14,150.00 | $0.00 | $0 |
| 2026-06-30 | KATZ KAREN | A-Award | 1,378.00 | $0.00 | $0 |
| 2026-06-30 | McCaffrey Mark | A-Award | 742.00 | $0.00 | $0 |
| 2026-05-21 | Madan Gopal Ajay | S-Sale | 22,678.00 | $9.25 | $209,772 |
| 2026-05-21 | Madan Gopal Ajay | S-Sale | 7,758.00 | $9.25 | $71,762 |
| 2026-05-21 | Madan Gopal Ajay | S-Sale | 4,587.00 | $9.25 | $42,430 |
| 2026-05-21 | Lo Steve Ming | S-Sale | 8,640.00 | $9.25 | $79,920 |
| 2026-05-21 | Lo Steve Ming | S-Sale | 2,084.00 | $9.25 | $19,277 |
| 2026-05-21 | Lo Steve Ming | S-Sale | 1,353.00 | $9.25 | $12,515 |
| 2026-05-21 | Suko Todd A | S-Sale | 10,762.00 | $9.25 | $99,549 |
| 2026-05-21 | Suko Todd A | S-Sale | 4,142.00 | $9.25 | $38,314 |
| 2026-05-21 | Suko Todd A | S-Sale | 2,449.00 | $9.25 | $22,653 |
| 2026-05-21 | Friang Luke Thomas | S-Sale | 8,159.00 | $9.25 | $75,471 |
| 2026-05-21 | Friang Luke Thomas | S-Sale | 8,202.00 | $9.25 | $75,869 |
| 2026-05-21 | Friang Luke Thomas | S-Sale | 2,405.00 | $9.25 | $22,246 |
Industry Benchmarks
Compares REAL against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
Not applicable for this companies
4b
Earnings Power Value
— Floor value — worth with zero growth
Not applicable for this companies
4c
Anchored PE
— Industry PE adjusted for growth differential
Not applicable for this companies
4d
Reverse DCF
— What growth is the market pricing in?
Not applicable for this companies
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
Not applicable for this companies
4i
Book Value Analysis
— For deep value / turnaround stocks only
Not applicable for this companies
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
Not applicable for this companies
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for REAL — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for REAL — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for REAL — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for REAL — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · four lenses
No community reviews yet for REAL.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.532 · 1ec19de8 · 2026-08-13 17:53:37