TheRealReal, Inc.REALEarnings & Financial Report
The RealReal, Inc. is an online marketplace for users to buy and sell luxury goods that are authenticated by experts. It has more than 38 million members, and has sold nearly 40 million items as of Sept. 30, 2023.
REAL Q4 FY2025 Key Financial Metrics
Revenue
$194.1M
Gross Profit
$145.2M
Operating Profit
$6.3M
Net Profit
N/A
Gross Margin
74.8%
Operating Margin
3.2%
Net Margin
N/A
YoY Growth
18.3%
EPS
$0.06
TheRealReal, Inc. Q4 FY2025 Financial Summary
TheRealReal, Inc. reported revenue of $194.1M (up 18.3% YoY) for Q4 FY2025, with a net profit of N/A (N/A margin). Cost of goods sold was $48.8M, operating expenses totaled $138.9M.
Key Financial Metrics
| Total Revenue | $194.1M |
|---|---|
| Net Profit | N/A |
| Gross Margin | 74.8% |
| Operating Margin | 3.2% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
TheRealReal, Inc. Q4 FY2025 revenue of $194.1M breaks down across 3 segments, led by Services at $149.0M (76.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Services | $149.0M | 76.8% |
| Products | $27.2M | 14.0% |
| Shipping And Handling | $17.8M | 9.2% |
TheRealReal, Inc. Revenue by Segment — Quarterly Trend
TheRealReal, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Services and Products) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Services | $149.0M | $134.4M | $128.6M | $123.8M |
| Products | $27.2M | $22.9M | $20.5M | $20.5M |
| Shipping And Handling | $17.8M | $16.2M | $16.1M | $15.8M |
TheRealReal, Inc. Annual Revenue by Year
TheRealReal, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $692.8M).
TheRealReal, Inc. Quarterly Revenue & Net Profit History
TheRealReal, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $194.1M | +18.3% | N/A | N/A |
| Q3 FY2025 | $173.6M | +17.5% | $-54.1M | -31.1% |
| Q2 FY2025 | $165.2M | +14.0% | $-11.4M | -6.9% |
| Q1 FY2025 | $160.0M | +11.3% | $62.4M | 39.0% |
| Q4 FY2024 | $164.0M | +14.4% | N/A | N/A |
| Q3 FY2024 | $147.8M | +11.0% | $-17.9M | -12.1% |
| Q2 FY2024 | $144.9M | +10.8% | $-16.7M | -11.5% |
| Q1 FY2024 | $143.8M | +1.3% | $-31.1M | -21.6% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $143.8M | $144.9M | $147.8M | $164.0M | $160.0M | $165.2M | $173.6M | $194.1M |
| YoY Growth | 1.3% | 10.8% | 11.0% | 14.4% | 11.3% | 14.0% | 17.5% | 18.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $431.6M | $407.4M | $406.3M | $423.1M | $400.4M | $349.4M | $366.2M | $409.0M |
| Liabilities | $758.6M | $742.7M | $751.7M | $830.5M | $736.4M | $687.6M | $751.3M | $824.6M |
| Equity | $-327.1M | $-335.3M | $-345.4M | $-407.4M | $-336.1M | $-338.2M | $-385.1M | $-415.5M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-3.5M | $-6.8M | $9.1M | $28.0M | $-28.3M | $-3.6M | $19.3M | $49.5M |