TheRealReal, Inc.
REAL Nasdaq· Retail-Miscellaneous Retail
Last close · Oct 23, 2026
$10.84
KIRA · Stoqly’s AI analyst, in plain words
- TheRealReal, Inc. had $693M of revenue in fiscal 2025, up 15.4% on the year before. Over five years, revenue changed +18.2% a year on average.
- Its operating margin was −3.5%, up 6.0 pts: of every 100 in sales, about −3 is left after running the business.
- TheRealReal, Inc. lost $41.8M in fiscal 2025.
- Free cash flow was $18.4M in fiscal 2025, 2.7% of revenue.
Market cap
$1.3B
P/E
—
Revenue
$693M
Net income
−$41.8M
Free cash flow
$18.4M
Operating margin
−3.5%
TheRealReal, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+15.4%
Yes. Sales grew 15.4% last year.
Does it make a profit?
−6.0%
No. It lost money last year.
Does profit turn into cash?
2.7%
Partly. 2.7% of sales ends up as free cash.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What TheRealReal, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- TheRealReal, Inc.
- CIK
- 0001573221
TheRealReal, Inc. · REAL
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $468M | $603M | $549M | $600M | $693M |
| Revenue growth | 55.9% | 29.0% | −9.0% | 9.3% | 15.4% |
| Gross margin | 58.5% | 57.8% | 68.5% | 74.5% | 74.6% |
| Operating margin | −46.0% | −31.3% | −30.3% | −9.4% | −3.5% |
| Net income | −$236M | −$196M | −$168M | −$134M | −$41.8M |
| Net margin | −50.5% | −32.6% | −30.7% | −22.3% | −6.0% |
| Diluted EPS | −$2.58 | −$2.05 | −$1.65 | −$1.24 | −$0.70 |
| Cash | |||||
| Cash from operations | −$142M | −$91.6M | −$61.3M | $26.8M | $37.0M |
| Capital expenditure | $37.5M | $22.9M | $29.2M | $14.2M | $18.6M |
| Free cash flow | −$180M | −$114M | −$90.4M | $12.6M | $18.4M |
| FCF margin | −38.4% | −19.0% | −16.5% | 2.1% | 2.7% |
| Share count change | 4.4% | 4.9% | 6.1% | 6.0% | 8.0% |
| Debt and strength | |||||
| Cash and short-term investments | $418M | $294M | $176M | $172M | $151M |
| Shareholders' equity | $73.1M | −$170M | −$303M | −$407M | −$416M |
| Current ratio | 2.8x | 1.8x | 1.2x | 0.9x | 0.9x |
| Interest coverage | −10.0x | −18.1x | −15.5x | −2.6x | −0.9x |
| Returns and quality | |||||
| Return on equity | −178.6% | — | — | — | — |
| Return on tangible equity | −322.9% | — | — | — | — |
| Piotroski F-score | 2 | 2 | 3 | 5 | 5 |
| Altman Z'' | −2.3 | −5.6 | −10.4 | −11.3 | −11.8 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$115M
6 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
TheRealReal, Inc. · REAL
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $10.84 a share, the company is worth $1.3B.
Source: SEC EDGAR XBRL filings (CIK 0001573221). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.