The RealReal Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	722.53	692.85	600.48	549.3	603.49	467.69
Revenue Growth (YoY)	17.16%	15.38%	9.32%	-8.98%	29.04%	55.92%
Cost of Revenue	184.39	176.02	152.96	173.03	254.8	194.22
Gross Profit	538.13	516.82	447.52	376.28	348.69	273.48
Selling, General & Admin	269.91	264.84	242.99	242.07	258.33	239
Other Operating Expenses	281.66	275.92	261.02	300.5	279.52	249.39
Total Operating Expenses	551.57	540.76	504.02	542.57	537.85	488.39
Operating Income	-13.44	-23.93	-56.5	-166.29	-189.16	-214.91
Interest Income	3.88	4.26	7.94	8.81	3.19	0.37
Interest Expense	-28.6	-27.7	-21.38	-10.7	-10.47	-21.53
Other Non-Operating Income (Expense)	-26.73	5.94	-63.99	-	0.17	0.02
Total Non-Operating Income (Expense)	-51.45	-17.5	-77.43	-1.9	-7.11	-21.14
Pretax Income	-64.89	-41.44	-133.93	-168.19	-196.27	-236.05
Provision for Income Taxes	0.38	0.36	0.28	0.28	0.17	0.06
Net Income	-65.26	-41.8	-134.2	-168.47	-196.45	-236.11
Net Income to Common	-65.26	-41.8	-134.2	-168.47	-196.45	-236.11
Shares Outstanding (Basic)	117	115	108	102	96	91
Shares Outstanding (Diluted)	120	117	108	102	96	91
Shares Change (YoY)	5.44%	8.00%	5.96%	6.13%	4.94%	4.36%
EPS (Basic)	-0.57	-0.36	-1.24	-1.65	-2.05	-2.58
EPS (Diluted)	-1.02	-0.70	-1.24	-1.65	-2.05	-2.58
Shares Outstanding	120.46	118.32	111.24	104.67	99.09	92.96
Free Cash Flow	27.26	18.37	12.6	-90.45	-114.42	-179.62
Free Cash Flow Growth	48.40%	45.78%	-	-	-	-
Free Cash Flow Per Share	0.23	0.16	0.12	-0.89	-1.19	-1.97
Gross Margin	74.48%	74.59%	74.53%	68.50%	57.78%	58.47%
Operating Margin	-1.86%	-3.45%	-9.41%	-30.27%	-31.34%	-45.95%
Profit Margin	-9.03%	-6.03%	-22.35%	-30.67%	-32.55%	-50.48%
FCF Margin	3.77%	2.65%	2.10%	-16.47%	-18.96%	-38.41%
EBITDA	19.29	9.07	-23.4	-134.6	-161.49	-191.38
EBITDA Margin	2.67%	1.31%	-3.90%	-24.50%	-26.76%	-40.92%
EBIT	-13.44	-23.93	-56.5	-166.29	-189.16	-214.91
EBIT Margin	-1.86%	-3.45%	-9.41%	-30.27%	-31.34%	-45.95%
Effective Tax Rate	-0.58%	-0.88%	-0.21%	-0.17%	-0.09%	-0.02%

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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