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The RealReal, Inc.

REAL NASDAQ Categories PDF
Consumer Cyclical · Luxury Goods · United States · Updated May 10, 8:16pm
$10.26
Price
$3.0B
Market Cap
3,011
Employees
2.84
Beta
Rati Sahi Levesque
CEO
Business Description

The RealReal, Inc. operates an online marketplace for consigned luxury goods in the United State. It offers various product categories, including women's, men's, kids', jewelry and watches, and home and art products. The company was incorporated in 2011 and is headquartered in San Francisco, California.

Business History
Price Overview
Last updated: May 11, 2026 1:54pm (just now)
$10.03
-0.23 (-2.24%)
Day Range
$9.76 – $10.17
52-Week Range
$4.70 – $17.39
50-Day MA
$10.66
200-Day MA
$11.48
Volume
2,400,849.00
Analyst Price Targets
Low $13.00
Consensus $17.29
High $20.00
(32 analysts)
Share Structure
Outstanding 289,733,080.00
Float 231,839,485.00
Free Float 80.0%
High free float — 80.0% of shares trade freely, ~20% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
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
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-28.50
Stock Price: $10.26
EPS (Diluted): -0.36
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
-10.91
Stock Price: $10.26
Total Equity: -$415.52M
Shares: 291,280,662
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
-67.82
Market Cap: $2.97B
Total Debt: $463.25M
Cash: $151.23M
EBITDA: $19.27M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$4.8B
Market Cap: $2.97B
Total Debt: $463.25M
Cash: $151.23M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
69.8%
Gross Profit: $483.82M
Revenue: $692.85M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
-3.5%
Operating Income: -$23.93M
Revenue: $692.85M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-6.0%
Net Income: -$41.80M
Revenue: $692.85M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
17.4%
Net Income: -$41.80M
Total Equity: -$415.52M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
-8.0%
Operating Income: -$23.93M
Tax Rate: -0.9%
Equity: -$415.52M
Total Debt: $463.25M
Cash: $151.23M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
0.86
Current Assets: $227.49M
Current Liabilities: $264.24M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
-1.11
Short-Term Debt: $24.65M
Long-Term Debt: $438.61M
Total Debt: $463.25M
Total Equity: -$415.52M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$2.38
Revenue: $692.85M
Shares: 291,280,662
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$-1.43
Total Equity: -$415.52M
Shares: 291,280,662
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$0.06
Operating CF: $37.01M
CapEx: -$18.64M
Shares: 291,280,662
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $10.26
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$41.80M
Dividends paid not available in cash flow statement
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
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
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
4i Book Value Analysis — For deep value / turnaround stocks only
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?
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)
Income Statement (Annual)
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 $209.0M
Gross Profit $273.5M $348.7M $376.3M $447.5M $483.8M
Operating Expenses $488.4M $537.9M $542.6M $504.0M $507.8M
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 -$171.6M -$158.1M -$125.8M -$79.4M $19.3M
EPS $-2.60 $-2.04 $-1.64 $-1.24 $-0.36
EPS (Diluted) — — — — —
Balance Sheet (Annual)
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 $348.4M $449.8M $452.4M $411.3M $438.6M
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)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$142.2M -$91.6M -$61.3M $21.5M $37.0M
Capital Expenditure -$47.4M -$22.9M -$29.2M -$26.0M -$18.6M
Free Cash Flow -$189.6M -$114.4M -$90.4M -$4.5M $18.4M
Acquisitions (net) $0 $0 $0 $0 $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $-205,000 $-679,000 $0 $0
Net Change in Cash $67.3M -$124.4M -$103.2M -$3.5M -$21.1M
Analyst Estimates (Annual)
Metric 2025 2026 2027 2028
Revenue $689.5M
$686.9M – $697.3M
 $780.6M
$774.2M – $787.4M
 $861.9M
$850.1M – $872.5M
 $942.6M
$935.6M – $949.6M
EBITDA -$132.7M
-$134.2M – -$132.2M
 -$150.2M
-$151.6M – -$149.0M
 -$165.9M
-$167.9M – -$163.6M
 -$181.4M
-$182.8M – -$180.1M
Net Income -$41.8M
-$48.2M – -$33.2M
 $16.8M
$4.2M – $29.3M
 $66.2M
$52.9M – $79.4M
 $113.0M
$111.1M – $114.9M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +29.0% -9.0% +9.3% +15.4%
Gross Profit Growth +27.5% +7.9% +18.9% +8.1%
Operating Income Growth +12.0% +12.1% +66.0% +57.6%
Net Income Growth +16.8% +14.2% +20.3% +68.9%
EBITDA Growth +7.8% +20.5% +36.8% +124.3%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-04-13 Lo Steve Ming A-Award 31,310.00 $0.00 $0
2026-04-13 McKeehan Jennifer A-Award 4,247.00 $0.00 $0
2026-03-31 McCaffrey Mark A-Award 963.00 $0.00 $0
2026-03-31 KATZ KAREN A-Award 1,988.00 $0.00 $0
2026-03-19 Madan Gopal Ajay S-Sale 51,585.00 $9.29 $479,225
2025-03-06 McKeehan Jennifer 0.00 $0.00 $0
2026-02-23 Madan Gopal Ajay A-Award 106,181.00 $0.00 $0
2026-02-23 Madan Gopal Ajay S-Sale 23,511.00 $10.72 $252,038
2026-02-23 Madan Gopal Ajay S-Sale 7,870.00 $10.72 $84,366
2026-02-23 Friang Luke Thomas A-Award 72,203.00 $0.00 $0
2026-02-23 Friang Luke Thomas S-Sale 8,848.00 $10.72 $94,851
2026-02-23 Friang Luke Thomas S-Sale 8,321.00 $10.72 $89,201
2026-02-23 Friang Luke Thomas S-Sale 2,440.00 $10.72 $26,157
2026-02-23 Suko Todd A A-Award 63,708.00 $0.00 $0
2026-02-23 Suko Todd A S-Sale 3,787.00 $10.72 $40,597
2026-02-23 Suko Todd A S-Sale 9,390.00 $10.72 $100,661
2026-02-23 Suko Todd A S-Sale 15,777.00 $10.72 $169,129
2026-02-23 Suko Todd A S-Sale 12,271.00 $10.72 $131,545
2026-02-23 Suko Todd A S-Sale 4,722.00 $10.72 $50,620
2026-02-23 Sahi Levesque Rati A-Award 179,691.00 $0.00 $0
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27