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Side-by-side financial comparison of TheRealReal, Inc. (REAL) and USANA HEALTH SCIENCES INC (USNA). Click either name above to swap in a different company.
USANA HEALTH SCIENCES INC is the larger business by last-quarter revenue ($250.2M vs $194.1M, roughly 1.3× TheRealReal, Inc.). On growth, TheRealReal, Inc. posted the faster year-over-year revenue change (18.3% vs -3.0%). Over the past eight quarters, TheRealReal, Inc.'s revenue compounded faster (16.2% CAGR vs 11.8%).
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.
Usana Health Sciences, Inc., or USANA, is an American multi-level marketing company based in Salt Lake City, Utah. As of 2021, Usana was the 14th largest direct-selling company in the world by revenue. The company manufactures most of its nutritional products, dietary supplements, and skincare products at a Salt Lake City facility. Its products are sold in 24 countries via a network of independent distributors.
REAL vs USNA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2027
| Metric | | |
|---|---|---|
| Revenue | $194.1M | $250.2M |
| Net Profit | — | $7.5M |
| Gross Margin | 74.8% | 76.2% |
| Operating Margin | 3.2% | 5.5% |
| Net Margin | — | 3.0% |
| Revenue YoY | 18.3% | -3.0% |
| Net Profit YoY | — | -20.0% |
| EPS (diluted) | $0.06 | $0.41 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $250.2M | ||
| Q4 25 | $194.1M | $226.2M | ||
| Q3 25 | $173.6M | $213.7M | ||
| Q2 25 | $165.2M | $235.8M | ||
| Q1 25 | $160.0M | $249.5M | ||
| Q4 24 | $164.0M | $213.6M | ||
| Q3 24 | $147.8M | $200.2M | ||
| Q2 24 | $144.9M | — |
| Q1 26 | — | $7.5M | ||
| Q4 25 | — | $180.0K | ||
| Q3 25 | $-54.1M | $-6.5M | ||
| Q2 25 | $-11.4M | $9.7M | ||
| Q1 25 | $62.4M | $9.4M | ||
| Q4 24 | — | $4.5M | ||
| Q3 24 | $-17.9M | $10.6M | ||
| Q2 24 | $-16.7M | — |
| Q1 26 | — | 76.2% | ||
| Q4 25 | 74.8% | 78.2% | ||
| Q3 25 | 74.3% | 77.2% | ||
| Q2 25 | 74.3% | 78.7% | ||
| Q1 25 | 75.0% | 79.0% | ||
| Q4 24 | 74.4% | 82.0% | ||
| Q3 24 | 74.9% | 80.4% | ||
| Q2 24 | 74.1% | — |
| Q1 26 | — | 5.5% | ||
| Q4 25 | 3.2% | 1.7% | ||
| Q3 25 | -4.3% | 0.6% | ||
| Q2 25 | -6.0% | 7.1% | ||
| Q1 25 | -8.0% | 6.3% | ||
| Q4 24 | -3.1% | 3.8% | ||
| Q3 24 | -9.9% | 7.8% | ||
| Q2 24 | -13.0% | — |
| Q1 26 | — | 3.0% | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | -31.1% | -3.1% | ||
| Q2 25 | -6.9% | 4.1% | ||
| Q1 25 | 39.0% | 3.8% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | -12.1% | 5.3% | ||
| Q2 24 | -11.5% | — |
| Q1 26 | — | $0.41 | ||
| Q4 25 | $0.06 | $-0.10 | ||
| Q3 25 | $-0.49 | $-0.36 | ||
| Q2 25 | $-0.13 | $0.52 | ||
| Q1 25 | $-0.14 | $0.49 | ||
| Q4 24 | $-0.57 | $0.23 | ||
| Q3 24 | $-0.17 | $0.56 | ||
| Q2 24 | $-0.20 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $151.2M | $162.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-415.5M | — |
| Total Assets | $409.0M | $739.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $162.8M | ||
| Q4 25 | $151.2M | $158.4M | ||
| Q3 25 | $108.4M | $145.3M | ||
| Q2 25 | $94.3M | $151.3M | ||
| Q1 25 | $139.6M | $179.6M | ||
| Q4 24 | $172.2M | $181.8M | ||
| Q3 24 | $153.2M | $364.9M | ||
| Q2 24 | $150.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | $-415.5M | — | ||
| Q3 25 | $-385.1M | $528.1M | ||
| Q2 25 | $-338.2M | $531.1M | ||
| Q1 25 | $-336.1M | $529.8M | ||
| Q4 24 | $-407.4M | $532.1M | ||
| Q3 24 | $-345.4M | $533.1M | ||
| Q2 24 | $-335.3M | — |
| Q1 26 | — | $739.0M | ||
| Q4 25 | $409.0M | $742.9M | ||
| Q3 25 | $366.2M | $726.6M | ||
| Q2 25 | $349.4M | $734.5M | ||
| Q1 25 | $400.4M | $746.6M | ||
| Q4 24 | $423.1M | $748.2M | ||
| Q3 24 | $406.3M | $671.3M | ||
| Q2 24 | $407.4M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $49.5M | — |
| Free Cash FlowOCF − Capex | $45.8M | — |
| FCF MarginFCF / Revenue | 23.6% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $49.5M | — | ||
| Q3 25 | $19.3M | $-2.0M | ||
| Q2 25 | $-3.6M | $12.2M | ||
| Q1 25 | $-28.3M | $15.5M | ||
| Q4 24 | $28.0M | $5.8M | ||
| Q3 24 | $9.1M | $29.5M | ||
| Q2 24 | $-6.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | $45.8M | — | ||
| Q3 25 | $16.9M | $-5.2M | ||
| Q2 25 | $-11.4M | $7.2M | ||
| Q1 25 | $-33.0M | $12.7M | ||
| Q4 24 | $22.9M | $4.0M | ||
| Q3 24 | $5.0M | $27.1M | ||
| Q2 24 | $-9.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | 23.6% | — | ||
| Q3 25 | 9.7% | -2.4% | ||
| Q2 25 | -6.9% | 3.0% | ||
| Q1 25 | -20.6% | 5.1% | ||
| Q4 24 | 14.0% | 1.9% | ||
| Q3 24 | 3.4% | 13.6% | ||
| Q2 24 | -6.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.4% | 1.5% | ||
| Q2 25 | 4.7% | 2.1% | ||
| Q1 25 | 2.9% | 1.1% | ||
| Q4 24 | 3.1% | 0.8% | ||
| Q3 24 | 2.7% | 1.2% | ||
| Q2 24 | 2.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | -0.45× | 1.65× | ||
| Q4 24 | — | 1.29× | ||
| Q3 24 | — | 2.78× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
REAL
| Services | $149.0M | 77% |
| Products | $27.2M | 14% |
| Shipping And Handling | $17.8M | 9% |
USNA
Segment breakdown not available.
