TheRealReal, Inc. (REAL)
Nasdaq · Retail-Miscellaneous Retail · Retail trade · CIK 1573221 · fiscal year ends in Dec
Closing price $11.30 on 29 Oct 2026; 52-week range $8.12 to $16.90.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $782.5M
- Revenue growth
- 18.1%
- Net income, last twelve months
- -$11.1M
- Earnings per share
- -$0.67
- Gross margin
- 74.7%
- Operating margin
- 0.4%
- Net margin
- -1.4%
- Free cash flow
- $34.6M
- Market value
- $1.4B
- Cash
- $130.4M
- Debt
- $379.6M
- Shares outstanding
- 122.7M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $692.8M | -$23.9M | -$41.8M | -$0.70 | $18.4M | 10-K filed 26 Feb 2026 |
| FY2024 | 31 Dec 2024 | $600.5M | -$56.5M | -$134.2M | -$1.24 | $12.6M | 10-K filed 21 Feb 2025 |
| FY2023 | 31 Dec 2023 | $549.3M | -$166.3M | -$168.5M | -$1.65 | -$90.4M | 10-K filed 1 Mar 2024 |
| FY2022 | 31 Dec 2022 | $603.5M | -$189.2M | -$196.4M | -$2.05 | -$114.4M | 10-K filed 28 Feb 2023 |
| FY2021 | 31 Dec 2021 | $467.7M | -$214.9M | -$236.1M | -$2.58 | -$179.6M | 10-K filed 28 Feb 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q3 FY2026 | 30 Sep 2026 | $206.1M | $16.0M | -$0.04 |
| Q2 FY2026 | 30 Jun 2026 | $192.6M | -$27.2M | -$0.23 |
| Q1 FY2026 | 31 Mar 2026 | $189.7M | $38.9M | -$0.07 |
| Q4 FY2025 | 31 Dec 2025 | $194.1M | -$38.8M | -$0.33 |
| Q3 FY2025 | 30 Sep 2025 | $173.6M | -$54.1M | -$0.49 |
| Q2 FY2025 | 30 Jun 2025 | $165.2M | -$11.4M | -$0.13 |
| Q1 FY2025 | 31 Mar 2025 | $160.0M | $62.4M | -$0.14 |
| Q4 FY2024 | 31 Dec 2024 | $164.0M | -$68.5M | -$0.62 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By product, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Consignment revenue | $535.9M | 77.3% |
| Direct revenue | $91.1M | 13.1% |
| Shipping services revenue | $65.9M | 9.5% |
Company events
The newest 8-K filings of 81 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 29 Oct 2026 | 8-K | Results | 2.02, 9.01 |
| 15 Oct 2026 | 8-K | Material agreement, New debt, Investor update | 1.01, 2.03, 7.01, 9.01 |
| 6 Aug 2026 | 8-K | Results | 2.02, 9.01 |
| 12 Jun 2026 | 8-K | Shareholder vote | 5.07 |
| 7 May 2026 | 8-K | Results | 2.02, 9.01 |
| 9 Mar 2026 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
| 26 Feb 2026 | 8-K | Results | 2.02, 9.01 |
| 18 Nov 2025 | 8-K | Leadership change | 5.02, 9.01 |
| 10 Nov 2025 | 8-K | Results | 2.02, 9.01 |
| 21 Aug 2025 | 8-K | New debt, Share sale | 2.03, 3.02, 9.01 |
| 7 Aug 2025 | 8-K | Results | 2.02, 9.01 |
| 18 Jul 2025 | 8-K | Leadership change | 5.02 |
Every filing
The newest filings with the SEC of 168 held.
| Filed | Form | Period |
|---|---|---|
| 29 Oct 2026 | 10-Q | 30 Sep 2026 |
| 29 Oct 2026 | 8-K | 29 Oct 2026 |
| 15 Oct 2026 | 8-K | 9 Oct 2026 |
| 6 Aug 2026 | 10-Q | 30 Jun 2026 |
| 6 Aug 2026 | 8-K | 6 Aug 2026 |
| 12 Jun 2026 | 8-K | 10 Jun 2026 |
| 8 May 2026 | S-3ASR | – |
| 7 May 2026 | 10-Q | 31 Mar 2026 |
| 7 May 2026 | 8-K | 7 May 2026 |
| 27 Apr 2026 | DEFA14A | – |
| 27 Apr 2026 | DEF 14A | 31 Dec 2025 |
| 15 Apr 2026 | PRE 14A | 31 Dec 2025 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 21 Aug 2026 | Madan Gopal Ajay, Chief Financial Officer | Sale outside a trading plan | 8,067 | $10.98 | $88.6K | 1,137,211 | 24 Aug 2026 |
| 21 Aug 2026 | Madan Gopal Ajay, Chief Financial Officer | Sale outside a trading plan | 4,770 | $10.98 | $52.4K | 1,132,441 | 24 Aug 2026 |
| 21 Aug 2026 | Madan Gopal Ajay, Chief Financial Officer | Sale outside a trading plan | 23,581 | $10.98 | $258.9K | 1,108,860 | 24 Aug 2026 |
| 21 Aug 2026 | Friang Luke Thomas, Chief Product & Tech Officer | Sale outside a trading plan | 8,485 | $10.98 | $93.2K | 522,191 | 24 Aug 2026 |
| 21 Aug 2026 | Friang Luke Thomas, Chief Product & Tech Officer | Sale outside a trading plan | 2,514 | $10.98 | $27.6K | 519,677 | 24 Aug 2026 |
| 21 Aug 2026 | Friang Luke Thomas, Chief Product & Tech Officer | Sale outside a trading plan | 8,528 | $10.98 | $93.6K | 511,149 | 24 Aug 2026 |
| 21 Aug 2026 | Friang Luke Thomas, Chief Product & Tech Officer | Sale outside a trading plan | 2,501 | $10.98 | $27.5K | 508,648 | 24 Aug 2026 |
| 21 Aug 2026 | Lo Steve Ming, Chief Accounting Officer | Sale outside a trading plan | 2,167 | $10.97 | $23.8K | 187,302 | 24 Aug 2026 |
| 21 Aug 2026 | Lo Steve Ming, Chief Accounting Officer | Sale outside a trading plan | 8,985 | $10.97 | $98.6K | 178,317 | 24 Aug 2026 |
| 21 Aug 2026 | Lo Steve Ming, Chief Accounting Officer | Sale outside a trading plan | 1,407 | $10.98 | $15.4K | 176,910 | 24 Aug 2026 |
| 21 Aug 2026 | Suko Todd A, Chief Legal Officer and Secret | Sale outside a trading plan | 10,895 | $10.97 | $119.5K | 594,569 | 24 Aug 2026 |
| 21 Aug 2026 | Suko Todd A, Chief Legal Officer and Secret | Sale outside a trading plan | 2,479 | $10.98 | $27.2K | 592,090 | 24 Aug 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| Filed | Seller | Shares | Value | Planned sale |
|---|---|---|---|---|
| 27 Apr 2026 | NIKI LEONDAKIS, Former Director | 12,945 | $160.1K | 27 Apr 2026 |
| 24 Apr 2026 | NIKI LEONDAKIS, Former Director | 7,055 | $87.3K | 24 Apr 2026 |
| 9 Dec 2025 | STEVE LO, Officer | 43,926 | $634.7K | 9 Dec 2025 |
| 8 Dec 2025 | STEVE LO, Officer | 17,874 | $253.7K | 8 Dec 2025 |
| 5 Dec 2025 | STEVE LO, Officer | 555 | $8.0K | 5 Dec 2025 |
| 26 Nov 2025 | AJAY MADAN GOPAL, Officer | 28,520 | $420.0K | 26 Nov 2025 |
| 25 Nov 2025 | STEVE LO, Officer | 59,789 | $864.3K | 25 Nov 2025 |
| 25 Nov 2025 | Todd Andrew Suko, Officer | 75,359 | $1.1M | 25 Nov 2025 |
| 18 Nov 2025 | Todd Andrew Suko, Officer | 75,623 | $1.1M | 18 Nov 2025 |
| 17 Nov 2025 | GreyLion Partners LP, Affiliate | 236,112 | $3.3M | 17 Nov 2025 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 30 Jul 2026 | BlackRock, Inc. | 13G amended | 7.9% | 9.5M |
| 8 Jul 2026 | FMR LLC | 13G amended | 5.2% | 6.2M |
| 30 Jun 2026 | Divisadero Street Capital Management, LP | 13G | 7.6% | 9.2M |
| 27 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 16 Jan 2026 | Timothy M. Riley | 13G amended | 4.9% | 5.8M |
| 13 Jan 2026 | GreyLion Partners LP | 13G amended | 0% | 0 |
| 8 Jan 2026 | FMR LLC | 13G | 10.8% | 12.6M |
| 30 Oct 2025 | The Vanguard Group | 13G | 5.14% | 5.9M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 17.5M | +0.77% | 5.77 |
| 30 Sep 2026 | 17.4M | +3.7% | 6.27 |
| 15 Sep 2026 | 16.7M | +2.76% | 8.07 |
| 31 Aug 2026 | 16.3M | +9.76% | 5.56 |
| 14 Aug 2026 | 14.8M | -6.23% | 3.63 |
| 31 Jul 2026 | 15.8M | -12.3% | 6.18 |
| 15 Jul 2026 | 18.1M | +1.85% | 6.43 |
| 30 Jun 2026 | 17.7M | +0.85% | 4.48 |
Funds that hold it
From each fund's latest Form 13F.
296 funds held it at 30 Jun 2026: 150 added and 69 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| BlackRock, Inc. | 11,408,817 | $134.5M | +2,297,559 |
| Divisadero Street Capital Management, LP | 9,198,248 | $108.4M | +4,855,491 |
| FMR LLC | 5,045,191 | $59.5M | -5,872,562 |
| D. E. Shaw & Co., Inc. | 4,881,501 | $57.6M | +497,704 |
| Vanguard Capital Management LLC | 4,713,711 | $55.6M | +171,161 |
| Two Sigma Investments, LP | 3,996,366 | $47.1M | -472,981 |
| Arrowstreet Capital, Limited Partnership | 3,936,756 | $46.4M | -112,286 |
| American Century Companies Inc. | 3,718,683 | $43.8M | +724,209 |
| Woodson Capital Management, LP | 3,300,000 | $38.9M | +630,580 |
| State Street Corp. | 3,161,327 | $37.3M | +373,918 |
Peers
Companies in the same industry.
- FirstCash Holdings, Inc. (FCFS): revenue $4.3B, market value $8.1B
- Ezcorp Inc. (EZPW): revenue $1.6B, market value $2.4B
- Savers Value Village, Inc. (SVV): revenue $1.7B, market value $1.5B
- Suburban Propane Partners LP (SPH): revenue $1.4B, market value $1.2B
- Winmark Corp. (WINA): revenue $91.8M, market value $1.0B