TheRealReal, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $692.8M | $600.5M | $549.3M | $603.5M | $467.7M | $299.9M | $316.4M | $213.7M |
| Cost of Revenue | $176.0M | $153.0M | $173.0M | $254.8M | $194.2M | $112.4M | $114.8M | $76.8M |
| Gross Profit | $516.8M | $447.5M | $376.3M | $348.7M | $273.5M | $187.6M | $201.5M | $136.9M |
| Gross Margin | 74.6% | 74.5% | 68.5% | 57.8% | 58.5% | 62.5% | 63.7% | 64.1% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $201.6M | $187.7M | $183.8M | $195.3M | $176.2M | $140.7M | $110.7M | $63.7M |
| Operating Income | $-23.9M | $-56.5M | $-166.3M | $-189.2M | $-214.9M | $-172.8M | $-100.1M | $-73.9M |
| Operating Margin | -3.5% | -9.4% | -30.3% | -31.3% | -46.0% | -57.6% | -31.6% | -34.6% |
| Interest Expense | — | — | $10.7M | $10.5M | $21.5M | $5.3M | $616.0K | $1.2M |
| Pretax Income | $-41.4M | $-133.9M | $-168.2M | $-196.3M | $-236.1M | $-175.7M | $-98.2M | $-75.7M |
| Income Tax Expense | $363.0K | $276.0K | $283.0K | $172.0K | $56.0K | $101.0K | $199.0K | $99.0K |
| Net Income | $-41.8M | $-134.2M | $-168.5M | $-196.4M | $-236.1M | $-175.8M | $-98.4M | $-75.8M |
| Net Margin | -6.0% | -22.3% | -30.7% | -32.6% | -50.5% | -58.6% | -31.1% | -35.4% |
| EPS (Basic) | $-0.36 | $-1.24 | $-1.65 | $-2.05 | $-2.58 | $-2.01 | $-2.14 | $-10.12 |
| EPS (Diluted) | $-0.70 | $-1.24 | $-1.65 | $-2.05 | $-2.58 | $-2.01 | $-2.14 | $-10.12 |
| Shares Outstanding (Basic) | 114.9M | 107.9M | 101.8M | 95.9M | 91.4M | 87.6M | 47.5M | 8.6M |
| Shares Outstanding (Diluted) | 116.5M | 107.9M | 101.8M | 95.9M | 91.4M | 87.6M | 47.5M | 8.6M |
| Dividends Per Share | — | — | — | — | — | — | — | — |