REAL: financial statements from SEC — TradeAlmanac

REAL

The RealReal, Inc.: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	693m	600m
Cost of revenue	176m	153m
Gross profit	517m	448m
Selling, general and administrative	202m	188m
Operating expenses	541m	504m
Operating income	−24m	−56m
Pre-tax income	−41m	−134m
Income tax	363,000	276,000
Net income	−42m	−134m
Earnings per share	−0.36	−1.24
Earnings per share, diluted	−0.70	−1.24
Weighted average shares	115m	108m
Weighted average shares, diluted	117m	108m

Balance sheet

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	124m	151m	108m	94m	140m	172m	153m	151m
Receivables	25m	24m	24m

Cash flow

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	37m	27m
Depreciation and amortisation	33m	33m
Share-based compensation	29m	29m
Capital expenditure	19m	14m
Investing cash flow	−29m	−26m
Financing cash flow	−29m

Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)