REAL - The RealReal, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$17.29
DETAILS
HIGH:
$20.00
LOW:
$13.00
MEDIAN:
$17.00
CONSENSUS:
$17.29
UPSIDE:
87.93%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||
| Revenue | 692.8 | 600.5 | 549.3 | 603.5 | 467.7 | 299.9 | 316.4 | 207.4 | 137.5 |
| Cost of Revenue | 209.0 | 153.0 | 173.0 | 254.8 | 194.2 | 112.4 | 114.8 | 70.5 | 49.9 |
| Gross Profit | 483.8 | 447.5 | 376.3 | 348.7 | 273.5 | 187.6 | 201.5 | 136.9 | 87.6 |
| Operating Expenses | |||||||||
| R&D Expenses | 242.9 | 227.7 | 225.3 | 0 | 212.3 | 145.0 | 0 | 104.9 | 58.7 |
| SG&A Expenses | 264.8 | 243.0 | 499.1 | 258.3 | 239.2 | 196.6 | 158.4 | 105.9 | 80.7 |
| Other Expenses | 0 | 33.3 | (181.9) | 279.5 | 36.9 | 18.8 | 143.2 | 0 | 0 |
| Operating Expenses | 507.8 | 504.0 | 542.6 | 537.9 | 488.4 | 360.4 | 301.6 | 210.8 | 139.4 |
| Operating Income | |||||||||
| Operating Income | (23.9) | (56.5) | (166.3) | (189.2) | (214.9) | (172.8) | (100.1) | (73.9) | (51.8) |
| Interest Expense | 27.7 | 21.4 | 10.7 | 10.5 | 21.5 | 5.3 | 0.6 | 1.2 | 0.8 |
| Interest Income | 4.3 | 7.9 | 8.8 | 3.2 | 0.4 | 2.5 | 4.6 | 1.0 | 0.4 |
| Profitability | |||||||||
| EBITDA | 19.3 | (79.4) | (125.8) | (158.1) | (171.6) | (135.6) | (84.2) | (65.2) | (45.9) |
| EBIT | (13.7) | (112.5) | (157.5) | (185.8) | (214.5) | (170.5) | (97.6) | (74.5) | (51.5) |
| Income Before Tax | (41.4) | (133.9) | (168.2) | (196.3) | (236.1) | (175.7) | (98.2) | (75.7) | (52.3) |
| Income Tax Expense | 0.4 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 |
| Net Income | (41.8) | (134.2) | (168.5) | (196.4) | (236.1) | (175.8) | (98.4) | (75.8) | (52.3) |
| Per Share Data | |||||||||
| EPS (Basic) | -0.36 | -1.24 | -1.64 | -2.04 | -2.60 | -2.00 | -1.12 | -1.21 | -0.84 |
| EPS (Diluted) | -0.68 | -1.24 | -1.64 | -2.04 | -2.60 | -2.00 | -1.12 | -1.21 | -0.84 |
| Shares Outstanding | 287.2 | 107.9 | 101.8 | 95.9 | 91.4 | 87.6 | 85.9 | 62.5 | 62.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 151.2 | 172.2 | 175.7 | 293.8 | 418.2 | 350.8 | 154.4 | 34.4 | 16.5 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 4.0 | 208.8 | 27.1 | 12.4 |
| Net Receivables | 23.8 | 14.0 | 17.2 | 12.2 | 7.8 | 7.2 | 7.8 | 7.6 | 7.0 |
| Inventory | 30.8 | 23.6 | 22.2 | 43.0 | 71.0 | 42.3 | 21.9 | 10.4 | 6.6 |
| Other Current Assets | 21.6 | 22.9 | 20.8 | 23.3 | 20.9 | 0 | 0 | 0 | 0 |
| Total Current Assets | 227.5 | 232.7 | 235.9 | 372.3 | 517.8 | 421.5 | 406.8 | 89.1 | 46.9 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 160.8 | 170.2 | 190.4 | 240.6 | 234.6 | 181.6 | 55.8 | 33.3 | 23.4 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 14.9 | 14.9 | 0 | 0 | 0 | 0 | 11.2 | 4.2 |
| Other Non-Current Assets | 20.8 | 5.4 | 5.6 | 2.7 | 2.5 | 2.0 | 2.7 | 1.8 | 1.5 |
| Total Non-Current Assets | 181.5 | 190.4 | 211.0 | 243.4 | 237.1 | 183.6 | 58.5 | 46.3 | 29.1 |
| Total Assets | 409.0 | 423.1 | 446.9 | 615.6 | 754.9 | 605.1 | 465.2 | 135.4 | 76.0 |
| Current Liabilities | |||||||||
| Account Payables | 14.6 | 11.0 | 9.0 | 11.9 | 4.5 | 14.3 | 11.2 | 5.1 | 7.6 |
| Short-Term Debt | 24.6 | 26.7 | 0 | 0 | 0 | 0 | 0 | 6.0 | 3.0 |
| Deferred Revenue | 0 | 0 | 2.2 | 3.5 | 3.4 | 1.6 | 4.8 | 3.2 | 2.1 |
| Other Current Liabilities | 225.0 | 188.2 | 145.5 | 156.2 | 147.6 | 41.9 | 36.8 | 60.5 | 19.3 |
| Total Current Liabilities | 264.2 | 248.7 | 188.9 | 207.5 | 188.0 | 148.3 | 118.5 | 88.4 | 65.4 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 438.6 | 411.3 | 452.4 | 449.8 | 348.4 | 149.2 | 0 | 3.2 | 10.7 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 121.7 | 84.7 | 4.1 | 3.3 | 2.3 | 1.3 | 9.5 | 301.5 | 176.8 |
| Total Non-Current Liabilities | 560.3 | 581.8 | 561.4 | 578.2 | 493.8 | 265.6 | 9.5 | 304.8 | 187.6 |
| Total Liabilities | 824.6 | 830.5 | 750.2 | 785.7 | 681.8 | 413.8 | 128.0 | 393.1 | 253.0 |
| Stockholders' Equity | |||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0 | 0 |
| Retained Earnings | (1,295.6) | (1,253.8) | (1,119.6) | (951.2) | (768.1) | (532.0) | (356.2) | (257.7) | (181.6) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0.0 | 0.0 | (0.0) | (0.0) |
| Total Stockholders' Equity | (415.5) | (407.4) | (303.3) | (170.1) | 73.1 | 191.3 | 337.2 | (257.7) | (177.0) |
| Total Liabilities & Equity | 409.0 | 423.1 | 446.9 | 615.6 | 754.9 | 605.1 | 465.2 | 135.4 | 76.0 |
| Debt Metrics | |||||||||
| Total Debt | 463.3 | 546.6 | 577.4 | 595.7 | 509.8 | 279.3 | 0 | 9.2 | 13.7 |
| Net Debt | 312.0 | 374.3 | 401.7 | 301.9 | 91.6 | (71.6) | (154.4) | (25.2) | (2.8) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Net Income | (41.8) | (134.2) | (168.5) | (196.4) | (236.1) | (175.8) | (96.7) | (75.8) | (52.3) |
| Depreciation & Amortization | 33.0 | 48.3 | 34.3 | 30.0 | 23.5 | 18.8 | 13.4 | 9.3 | 5.6 |
| Stock-Based Compensation | 28.9 | 0 | 34.3 | 46.1 | 48.8 | 24.3 | 8.5 | 3.8 | 1.9 |
| Change in Working Capital | (9.3) | 2.8 | (28.6) | (2.3) | (14.9) | (21.5) | 17.1 | 12.1 | 5.2 |
| Other Non-Cash Items | 26.1 | 104.6 | 67.3 | 31.0 | 36.5 | 19.8 | 0.1 | 0.4 | 0.1 |
| Operating Cash Flow | 37.0 | 21.5 | (61.3) | (91.6) | (142.2) | (134.4) | (54.5) | (47.2) | (38.6) |
| Investing Activities | |||||||||
| Capital Expenditure | (18.6) | (26.0) | (29.2) | (22.9) | (47.4) | (26.9) | (34.0) | (19.1) | (14.1) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 9.3 | 5.7 | 2.5 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | (73.3) | (220.6) | (31.5) | (27.5) |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 4 | 278.2 | 39.3 | 16.6 | 30.3 |
| Other Investing Activities | (10.6) | 0.5 | (13.0) | (14.1) | (10.0) | (8.7) | (9.3) | (5.7) | (2.5) |
| Investing Cash Flow | (29.2) | (25.6) | (42.1) | (36.9) | (43.4) | 178.0 | (215.4) | (33.9) | (11.3) |
| Financing Activities | |||||||||
| Net Debt Issuance | (26.7) | 0 | 0 | 0 | 278.2 | 166.3 | (9.2) | 9.8 | (1.2) |
| Stock Repurchased | 0 | 0 | (0.7) | (0.2) | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (4.8) | (1.2) | 0.9 | 4.3 | (25.3) | (13.5) | 2.6 | 0.0 | 0.2 |
| Financing Cash Flow | (28.9) | 0.5 | 0.2 | 4.1 | 252.9 | 152.8 | 378.7 | 106.1 | 46.7 |
| Cash Position | |||||||||
| Net Change in Cash | (21.1) | (3.5) | (103.2) | (124.4) | 67.3 | 196.4 | 108.8 | 25.0 | (3.2) |
| Cash at Beginning | 187.1 | 175.7 | 293.8 | 418.2 | 350.8 | 154.4 | 45.6 | 20.7 | 23.8 |
| Cash at End | 166.0 | 172.2 | 190.6 | 293.8 | 418.2 | 350.8 | 154.4 | 45.6 | 20.7 |
| Free Cash Flow | 18.4 | (4.5) | (90.4) | (114.4) | (189.6) | (161.3) | (88.5) | (66.3) | (52.7) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 692.8 | 600.5 | 549.3 | 603.5 | 467.7 | 299.9 | 316.4 | 207.4 | 137.5 |
| Gross Profit | 483.8 | 447.5 | 376.3 | 348.7 | 273.5 | 187.6 | 201.5 | 136.9 | 87.6 |
| Operating Income | (23.9) | (56.5) | (166.3) | (189.2) | (214.9) | (172.8) | (100.1) | (73.9) | (51.8) |
| Net Income | (41.8) | (134.2) | (168.5) | (196.4) | (236.1) | (175.8) | (98.4) | (75.8) | (52.3) |
| EPS (Diluted) | -0.68 | -1.24 | -1.64 | -2.04 | -2.60 | -2.00 | -1.12 | -1.21 | -0.84 |
| Balance Sheet | |||||||||
| Cash & Equivalents | 151.2 | 172.2 | 175.7 | 293.8 | 418.2 | 350.8 | 154.4 | 34.4 | 16.5 |
| Total Assets | 409.0 | 423.1 | 446.9 | 615.6 | 754.9 | 605.1 | 465.2 | 135.4 | 76.0 |
| Total Debt | 463.3 | 546.6 | 577.4 | 595.7 | 509.8 | 279.3 | 0 | 9.2 | 13.7 |
| Stockholders' Equity | (415.5) | (407.4) | (303.3) | (170.1) | 73.1 | 191.3 | 337.2 | (257.7) | (177.0) |
| Cash Flow | |||||||||
| Operating Cash Flow | 37.0 | 21.5 | (61.3) | (91.6) | (142.2) | (134.4) | (54.5) | (47.2) | (38.6) |
| Capital Expenditure | (18.6) | (26.0) | (29.2) | (22.9) | (47.4) | (26.9) | (34.0) | (19.1) | (14.1) |
| Free Cash Flow | 18.4 | (4.5) | (90.4) | (114.4) | (189.6) | (161.3) | (88.5) | (66.3) | (52.7) |