The RealReal Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	692.85	600.48	549.3	603.49	467.69
Revenue Growth (YoY)	15.38%	9.32%	-8.98%	29.04%	55.92%
Cost of Revenue	176.02	152.96	173.03	254.8	194.22
Gross Profit	516.82	447.52	376.28	348.69	273.48
Selling, General & Admin	540.76	503.82	499.11	535.96	472.68
Operating Expenses	540.76	503.82	499.11	535.96	472.68
Operating Income	-23.93	-56.3	-122.83	-187.27	-199.21
Interest Expense	-27.7	-21.38	-10.7	-10.47	-21.53
Interest & Investment Income	4.26	7.94	8.81	3.19	0.37
Other Non Operating Income (Expenses)	-34.84	-68.17	-	0.17	0.02
EBT Excluding Unusual Items	-82.22	-137.91	-124.73	-194.38	-220.35
Merger & Restructuring Charges	-	-0.2	-43.46	-0.9	-2.31
Legal Settlements	-	-	-	-	-13.39
Other Unusual Items	40.79	4.18	-	-1	-
Pretax Income	-41.44	-133.93	-168.19	-196.27	-236.05
Income Tax Expense	0.36	0.28	0.28	0.17	0.06
Net Income	-41.8	-134.2	-168.47	-196.45	-236.11
Net Income to Common	-41.8	-134.2	-168.47	-196.45	-236.11
Shares Outstanding (Basic)	115	108	102	96	91
Shares Outstanding (Diluted)	117	108	102	96	91
Shares Change (YoY)	8.00%	5.96%	6.13%	4.94%	4.36%
EPS (Basic)	-0.36	-1.24	-1.65	-2.05	-2.58
EPS (Diluted)	-0.70	-1.24	-1.65	-2.05	-2.58
Free Cash Flow	18.37	12.6	-90.45	-114.42	-179.62
Free Cash Flow Per Share	0.16	0.12	-0.89	-1.19	-1.97
Gross Margin	74.59%	74.53%	68.50%	57.78%	58.47%
Operating Margin	-3.45%	-9.38%	-22.36%	-31.03%	-42.59%
Profit Margin	-6.03%	-22.35%	-30.67%	-32.55%	-50.48%
Free Cash Flow Margin	2.65%	2.10%	-16.46%	-18.96%	-38.41%
EBITDA	9.07	-23.2	-91.14	-159.6	-175.67
EBITDA Margin	1.31%	-3.86%	-16.59%	-26.45%	-37.56%
D&A For EBITDA	33	33.1	31.7	27.67	23.53
EBIT	-23.93	-56.3	-122.83	-187.27	-199.21
EBIT Margin	-3.45%	-9.38%	-22.36%	-31.03%	-42.59%
Revenue as Reported	692.85	600.48	549.3	603.49	467.69
Advertising Expenses	-	42.9	48.4	49	46.2

Updated Feb 26, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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