What is The RealReal, Inc.'s earnings per share (EPS)?

The RealReal, Inc. (REAL) reported diluted earnings per share of -$0.70 for fiscal year 2025. This represents a 43.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

The RealReal, Inc. (REAL) Financials

REAL

Trailing 12 months to June 30, 2026

Revenue $749.9M +17.7% YoY

EPS (Diluted) -$1.11 -3.7% YoY

Free Cash Flow $36.2M +320.9% YoY

Operating Cash Flow $53.8M +930.1% YoY

Market Cap $1.1B as of Oct 5, 2026

Price / Sales 1.4x on $749.9M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m no net income reported

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the REAL SEC filings page.

The RealReal, Inc. (REAL) reported $749.9M in revenue over the twelve months to Jun 30, 2026, up 17.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI REAL FY2025 2026-10-03

The business has moved close to operating break-even and positive cash generation, but its balance sheet remains structurally undercapitalized.

Gross margin reached 74.6% in FY2025 while operating margin was still -3.5%; the spread shows a more favorable cost-of-revenue structure is increasingly helping absorb overhead, but operating costs remain too high for full profitability.

Cash conversion shifted from operating cash flow of -$61.3M in FY2023 to $37.0M in FY2025, while free cash flow turned positive in FY2024 and stayed positive in FY2025; this is a cash-generation change, not merely an accounting-margin improvement. FY2025 capital expenditures were $18.6M, so positive free cash flow followed ongoing reinvestment rather than a zero-investment year.

Liabilities of $824.6M exceeded assets of $409.0M in FY2025, leaving the business structurally undercapitalized. Negative equity of $415.5M and short-term liquidity below 1.0x show that the operating improvement has not yet repaired the balance sheet.

Financial Health Signals

Financial Health Score 27/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of The RealReal, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

The RealReal, Inc. has an operating margin of -3.5%, meaning the company loses $3 on every $100 of revenue. This results in a profitability score of 27/100. This is up from -9.4% the prior year.

Growth

The RealReal, Inc.'s revenue surged 15.4% year-over-year to $692.8M, reflecting rapid business expansion. This strong growth earns a score of 70/100.

Leverage

Liquidity

The RealReal, Inc.'s current ratio of 0.86 is below the typical benchmark, resulting in a score of 13/100. However, the company holds substantial cash reserves (57% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow

The RealReal, Inc.'s free cash flow margin of 2.6% results in a low score of 23/100. Capital expenditures of $18.6M absorb a large share of operating cash flow.

Returns

Altman Z-Score Distress

-2.25

The RealReal, Inc. scores -2.25, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.1B) relative to total liabilities ($824.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/5

The RealReal, Inc. passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). All 1 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Interest Coverage At Risk

N/A

The RealReal, Inc. reported an operating loss of $23.9M against $27.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$192.6M

YoY+16.6%

QoQ+1.5%

5Y CAGR+12.9%

The RealReal, Inc. generated $192.6M in revenue in Q2 2026. This represents an increase of 16.6% from the same quarter a year earlier. Against the prior quarter it is up 1.5%.

EBITDA

$5.5M

YoY+427.4%

QoQ-5.2%

The RealReal, Inc.'s EBITDA was $5.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 427.4% from the same quarter a year earlier. Against the prior quarter it is down 5.2%.

Net Income

-$27.2M

YoY-139.6%

QoQ-169.9%

The RealReal, Inc. reported -$27.2M in net income in Q2 2026. This represents a decrease of 139.6% from the same quarter a year earlier. Against the prior quarter it is down 169.9%.

EPS (Diluted)

-$0.23

YoY-76.9%

QoQ-228.6%

The RealReal, Inc. earned -$0.23 per diluted share (EPS) in Q2 2026. This represents a decrease of 76.9% from the same quarter a year earlier. Against the prior quarter it is down 228.6%.

Cash & Balance Sheet

Free Cash Flow

-$2.4M

YoY+78.8%

QoQ+90.0%

The RealReal, Inc. recorded an outflow of $2.4M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 78.8% from the same quarter a year earlier. Against the prior quarter it is up 90.0%.

Cash & Debt

$119.1M

YoY+26.3%

QoQ-3.9%

5Y CAGR-24.7%

The RealReal, Inc. held $119.1M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

122M

YoY+5.6%

QoQ+1.0%

5Y CAGR+5.8%

The RealReal, Inc. had 122M shares outstanding in Q2 2026. This represents an increase of 5.6% from the same quarter a year earlier. Against the prior quarter it is up 1.0%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

74.4%

YoY+0.1pp

QoQ-0.1pp

5Y change+13.9pp

The RealReal, Inc.'s gross margin was 74.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Operating Margin

-1.2%

YoY+4.8pp

QoQ0.0pp

5Y change+60.6pp

The RealReal, Inc.'s operating margin was -1.2% in Q2 2026, reflecting core business profitability. This is up 4.8 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.

Net Margin

-14.1%

YoY-7.3pp

QoQ-34.7pp

The RealReal, Inc.'s net profit margin was -14.1% in Q2 2026, showing the share of revenue converted to profit. This is down 7.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 34.7 percentage points.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$4.0M

YoY-48.4%

QoQ-46.1%

5Y CAGR-22.8%

The RealReal, Inc. invested $4.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 48.4% from the same quarter a year earlier. Against the prior quarter it is down 46.1%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

REAL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

REAL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
Revenue	$749.9M	$692.8M+15.4%	$600.5M+9.3%	$549.3M-9.0%	$603.5M+29.0%	$467.7M+55.9%	$299.9M-5.2%	$316.4M+48.0%	$213.7M+55.4%	$137.5M
Cost of Revenue	$191.3M	$176.0M+15.1%	$153.0M-11.6%	$173.0M-32.1%	$254.8M+31.2%	$194.2M+72.8%	$112.4M-2.1%	$114.8M+49.5%	$76.8M+54.0%	$49.9M
Gross Profit	$558.7M	$516.8M+15.5%	$447.5M+18.9%	$376.3M+7.9%	$348.7M+27.5%	$273.5M+45.8%	$187.6M-6.9%	$201.5M+47.2%	$136.9M+56.2%	$87.6M
SG&A Expenses	$208.3M	$201.6M+7.4%	$187.7M+2.1%	$183.8M-5.9%	$195.3M+10.8%	$176.2M+25.3%	$140.7M+27.1%	$110.7M+73.6%	$63.7M+44.7%	$44.0M
Operating Income	-$5.8M	-$23.9M+57.6%	-$56.5M+66.0%	-$166.3M+12.1%	-$189.2M+12.0%	-$214.9M-24.4%	-$172.8M-72.6%	-$100.1M-35.5%	-$73.9M-42.7%	-$51.8M
EBITDA	N/A	$9.1M+138.8%	-$23.4M+82.6%	-$134.6M+16.7%	-$161.5M+15.6%	-$191.4M-24.3%	-$154.0M-77.6%	-$86.7M-34.2%	-$64.6M-40.0%	-$46.1M
Interest Expense	$28.9M	$27.7M+29.5%	$21.4M+99.8%	$10.7M+2.2%	$10.5M-51.4%	$21.5M+309.0%	$5.3M+754.5%	$616K-46.5%	$1.2M+51.2%	$762K
Income Tax	$388K	$363K+31.5%	$276K-2.5%	$283K+64.5%	$172K+207.1%	$56K-44.6%	$101K-49.2%	$199K+101.0%	$99K+73.7%	$57K
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	-$175.8M-78.6%	-$98.4M-29.9%	-$75.8M-44.8%	-$52.3M
EPS (Basic)	N/A	-$0.36+71.0%	-$1.24+24.8%	-$1.65+19.5%	-$2.05+20.5%	-$2.58-28.4%	-$2.01+6.1%	-$2.14	N/A	N/A
EPS (Diluted)	-$1.11	-$0.70+43.5%	-$1.24+24.8%	-$1.65+19.5%	-$2.05+20.5%	-$2.58-28.4%	-$2.01	-$2.14	N/A	N/A
Diluted Shares (Avg)	N/A	117M+8.0%	108M+6.0%	102M+6.1%	96M+4.9%	91M+4.4%	88M	47M	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$192.6M+16.6%	$189.7M+18.5%	$194.1M+18.3%	$173.6M+17.5%	$165.2M+14.0%	$160.0M+11.3%	$164.0M+14.4%	$147.8M+11.0%
Cost of Revenue	$49.4M+16.1%	$48.4M+20.9%	$48.8M+16.5%	$44.7M+20.5%	$42.5M+13.5%	$40.0M+9.6%	$41.9M+12.3%	$37.0M-5.3%
Gross Profit	$143.2M+16.7%	$141.3M+17.8%	$145.2M+19.0%	$128.9M+16.4%	$122.7M+14.2%	$120.0M+11.9%	$122.1M+15.1%	$110.7M+17.7%
SG&A Expenses	$52.4M+9.1%	$52.3M+4.7%	$52.0M+12.1%	$51.6M+8.6%	$48.0M+2.0%	$50.0M+6.8%	$46.4M+3.4%	$47.5M+6.1%
Operating Income	-$2.3M+76.9%	-$2.3M+82.2%	$6.3M+221.7%	-$7.5M+48.3%	-$9.9M+47.4%	-$12.8M+28.8%	-$5.2M+75.5%	-$14.6M+35.1%
EBITDA	$5.5M+427.4%	$5.8M+232.4%	$14.5M+321.9%	$650K+110.0%	-$1.7M+84.2%	-$4.4M+54.4%	$3.4M+127.3%	-$6.5M+56.3%
Interest Expense	$7.3M+4.0%	$7.2M+14.3%	$7.3M+22.7%	$7.1M+19.1%	$7.0M+22.0%	$6.3M+68.5%	$5.9M+120.5%	$5.9M+122.5%
Income Tax	$101K+13.5%	$108K+13.7%	$155K+58.2%	$24K-66.7%	$89K+154.3%	$95K+33.8%	$98K+172.2%	$72K+53.2%
Net Income	-$27.2M-139.6%	$38.9M-37.6%	N/A	-$54.1M-201.3%	-$11.4M+32.0%	$62.4M+300.6%	N/A	-$17.9M+21.8%
EPS (Basic)	-$0.23-130.0%	$0.33-41.1%	-$0.33+47.6%	-$0.47-193.7%	-$0.10+37.5%	$0.56+286.7%	-$0.63-215.0%	-$0.16+27.3%
EPS (Diluted)	-$0.23-76.9%	-$0.07+50.0%	-$0.32+49.2%	-$0.49-188.2%	-$0.13+35.0%	-$0.14+53.3%	-$0.63-215.0%	-$0.17+22.7%
Diluted Shares (Avg)	121M+1.3%	126M+4.1%	N/A	117M+3.9%	119M+7.5%	121M+14.8%	N/A	112M+9.5%

Not reported in any period shown, so not listed: R&D Expenses.

REAL Balance Sheet

REAL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
Total Assets	$409.0M-3.3%	$423.1M-5.3%	$446.9M-27.4%	$615.6M-18.5%	$754.9M+24.8%	$605.1M+30.1%	$465.2M+243.6%	$135.4M	N/A
Current Assets	$227.5M-2.2%	$232.7M-1.4%	$235.9M-36.6%	$372.3M-28.1%	$517.8M+22.9%	$421.5M+3.6%	$406.8M+356.3%	$89.1M	N/A
Cash & Equivalents	$151.2M-12.2%	$172.2M-2.0%	$175.7M-40.2%	$293.8M-29.7%	$418.2M+19.2%	$350.8M+127.2%	$154.4M+349.1%	$34.4M+108.6%	$16.5M
Short-Term Investments	$0	$0	$0	$0	$0-100.0%	$4.0M-98.1%	$208.8M+669.6%	$27.1M	$0
Inventory	$30.8M+30.8%	$23.6M+6.0%	$22.2M-48.2%	$43.0M-39.5%	$71.0M+67.8%	$42.3M+93.1%	$21.9M+111.6%	$10.4M	N/A
Accounts Receivable	$23.8M+70.6%	$14.0M-19.0%	$17.2M+41.1%	$12.2M+57.2%	$7.8M+7.7%	$7.2M-7.3%	$7.8M+2.7%	$7.6M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$824.6M-0.7%	$830.5M+10.7%	$750.2M-4.5%	$785.7M+15.2%	$681.8M+64.8%	$413.8M+223.3%	$128.0M-67.4%	$393.1M	N/A
Current Liabilities	$264.2M+6.3%	$248.7M+31.7%	$188.9M-9.0%	$207.5M+10.4%	$188.0M+26.8%	$148.3M+25.1%	$118.5M+34.2%	$88.4M	N/A
Non-Current Liabilities	$560.3M-3.7%	$581.8M+3.6%	$561.4M-2.9%	$578.2M+17.1%	$493.8M+86.0%	$265.6M+2708.3%	$9.5M-96.9%	$304.8M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3.2M	N/A
Total Equity	-$415.5M-2.0%	-$407.4M-34.3%	-$303.3M-78.3%	-$170.1M-332.6%	$73.1M-61.8%	$191.3M-43.3%	$337.2M+230.9%	-$257.7M-45.6%	-$177.0M
Retained Earnings	-$1.3B-3.3%	-$1.3B-12.0%	-$1.1B-17.7%	-$951.2M-23.8%	-$768.1M-44.4%	-$532.0M-49.4%	-$356.2M-38.2%	-$257.7M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$378.3M+8.3%	$385.9M-3.6%	$409.0M-3.3%	$366.2M-9.9%	$349.4M-14.2%	$400.4M-7.2%	$423.1M-5.3%	$406.3M-10.3%
Current Assets	$193.3M+20.6%	$203.0M-2.5%	$227.5M-2.2%	$182.4M-13.8%	$160.3M-22.7%	$208.1M-7.6%	$232.7M-1.4%	$211.7M-7.9%
Cash & Equivalents	$119.1M+26.3%	$124.0M-11.2%	$151.2M-12.2%	$108.4M-29.2%	$94.3M-37.4%	$139.6M-15.9%	$172.2M-2.0%	$153.2M-10.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$35.4M+23.1%	$33.9M+28.2%	$30.8M+30.8%	$29.7M+49.1%	$28.8M+36.3%	$26.5M+25.3%	$23.6M+6.0%	$19.9M-19.2%
Accounts Receivable	$20.1M-11.8%	$24.9M-10.3%	$23.8M+70.6%	$24.3M+52.6%	$22.8M+38.4%	$27.8M+40.0%	$14.0M-19.0%	$16.0M+17.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$756.0M+9.9%	$745.3M+1.2%	$824.6M-0.7%	$751.3M-0.1%	$687.6M-7.4%	$736.4M-2.9%	$830.5M+10.7%	$751.7M+1.2%
Current Liabilities	$233.5M+17.0%	$241.1M+0.5%	$264.2M+6.3%	$226.1M+0.2%	$199.5M-5.8%	$240.0M+23.9%	$248.7M+31.7%	$225.7M+27.6%
Non-Current Liabilities	$522.5M+7.0%	$504.2M+1.6%	$560.3M-3.7%	$525.2M-0.2%	$488.1M-8.0%	$496.4M-12.1%	$581.8M+3.6%	$526.0M-7.0%
Total Equity	-$377.7M-11.7%	-$359.4M-6.9%	-$415.5M-2.0%	-$385.1M-11.5%	-$338.2M-0.9%	-$336.1M-2.8%	-$407.4M-34.3%	-$345.4M-19.1%
Retained Earnings	-$1.3B-6.7%	-$1.3B-5.5%	-$1.3B-3.3%	-$1.3B-6.0%	-$1.2B-3.0%	-$1.2B-3.5%	-$1.3B-12.0%	-$1.2B-8.0%

Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.

REAL Cash Flow Statement

REAL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
Operating Cash Flow	$53.8M	$37.0M+37.9%	$26.8M+143.8%	-$61.3M+33.1%	-$91.6M+35.6%	-$142.2M-5.8%	-$134.4M-146.7%	-$54.5M-15.5%	-$47.2M-22.3%	-$38.6M
Depreciation & Amortization	N/A	$33.0M-0.3%	$33.1M+4.4%	$31.7M+14.6%	$27.7M+17.6%	$23.5M+24.9%	$18.8M+40.6%	$13.4M+44.3%	$9.3M+64.9%	$5.6M
Stock-Based Compensation	N/A	$28.9M-0.5%	$29.1M-15.1%	$34.3M-25.7%	$46.1M-5.5%	$48.8M+100.6%	$24.3M+215.4%	$7.7M+164.9%	$2.9M+57.1%	$1.9M
Capital Expenditures	$17.6M	$18.6M+30.9%	$14.2M-51.2%	$29.2M+27.6%	$22.9M-39.0%	$37.5M+105.3%	$18.3M-26.3%	$24.8M+84.9%	$13.4M+15.5%	$11.6M
Free Cash Flow	$36.2M	$18.4M+45.8%	$12.6M+113.9%	-$90.4M+21.0%	-$114.4M+36.3%	-$179.6M-17.7%	-$152.7M-92.6%	-$79.3M-30.8%	-$60.6M-20.8%	-$50.2M
Investing Cash Flow	-$30.9M	-$29.2M-14.2%	-$25.6M+39.3%	-$42.1M-14.1%	-$36.9M+15.0%	-$43.4M-124.4%	$178.0M+182.7%	-$215.4M-534.8%	-$33.9M-200.1%	-$11.3M
Financing Cash Flow	$1.7M	-$28.9M-506.6%	-$4.8M-2205.8%	$226K-94.5%	$4.1M-98.4%	$252.9M+65.5%	$152.8M-59.6%	$378.7M+256.9%	$106.1M+127.1%	$46.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.6M+145.2%	-$16.6M+41.2%	$49.5M+76.9%	$19.3M+113.0%	-$3.6M+47.1%	-$28.3M-715.4%	$28.0M+166.0%	$9.1M+183.0%
Depreciation & Amortization	$7.8M-4.9%	$8.1M-3.4%	$8.2M-1.6%	$8.2M+1.2%	$8.2M+1.2%	$8.4M+0.8%	$8.3M+1.6%	$8.1M+6.6%
Stock-Based Compensation	$7.6M-7.7%	$6.3M-14.8%	N/A	$6.6M-14.9%	$8.2M+6.6%	$7.4M+3.4%	N/A	$7.8M-9.1%
Capital Expenditures	$4.0M-48.4%	$7.5M+58.5%	$3.7M-27.4%	$2.4M-39.5%	$7.8M+160.0%	$4.7M+120.2%	$5.1M+39.2%	$4.0M-30.2%
Free Cash Flow	-$2.4M+78.8%	-$24.1M+26.9%	$45.8M+100.0%	$16.9M+234.7%	-$11.4M-16.6%	-$33.0M-488.2%	$22.9M+233.3%	$5.0M+130.2%
Investing Cash Flow	-$7.7M+28.9%	-$10.6M-81.6%	-$6.9M+21.6%	-$5.6M+13.4%	-$10.8M-118.5%	-$5.9M-10.1%	-$8.8M-31.2%	-$6.5M+20.2%
Financing Cash Flow	$1.2M+104.0%	-$16K-101.1%	$158K+219.7%	$359K+321.6%	-$30.9M-772.6%	$1.5M+257.9%	-$132K-150.4%	-$162K-118.9%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

REAL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

REAL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
Gross Margin	74.6%+0.1pp	74.5%+6.0pp	68.5%+10.7pp	57.8%-0.7pp	58.5%-4.1pp	62.5%-1.2pp	63.7%-0.4pp	64.1%+0.3pp	63.7%
Operating Margin	-3.5%+6.0pp	-9.4%+20.9pp	-30.3%+1.1pp	-31.3%+14.6pp	-46.0%+11.7pp	-57.6%-26.0pp	-31.6%+2.9pp	-34.6%+3.1pp	-37.7%
Net Margin	N/A	N/A	N/A	N/A	N/A	-58.6%-27.5pp	-31.1%+4.3pp	-35.4%+2.6pp	-38.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	-91.9%-62.7pp	-29.2%	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	-29.1%-7.9pp	-21.2%+34.8pp	-56.0%	N/A
Current Ratio	0.86-0.1x	0.94-0.3x	1.25-0.5x	1.79-1.0x	2.75-0.1x	2.84-0.6x	3.43+2.4x	1.01	N/A
Debt-to-Equity	N/A	N/A	N/A	N/A	9.32+7.2x	2.16+1.8x	0.38	N/A	N/A
Asset Turnover	1.69+0.3x	1.42+0.2x	1.23+0.2x	0.98+0.4x	0.62+0.1x	0.50-0.2x	0.68-0.9x	1.58	N/A
FCF Margin	2.6%+0.5pp	2.1%+18.6pp	-16.5%+2.5pp	-19.0%+19.4pp	-38.4%+12.5pp	-50.9%-25.9pp	-25.1%+3.3pp	-28.3%+8.1pp	-36.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	74.4%+0.1pp	74.5%-0.5pp	74.8%+0.4pp	74.3%-0.7pp	74.3%+0.1pp	75.0%+0.4pp	74.4%+0.5pp	74.9%+4.3pp
Operating Margin	-1.2%+4.8pp	-1.2%+6.8pp	3.2%+6.4pp	-4.3%+5.5pp	-6.0%+7.0pp	-8.0%+4.5pp	-3.1%+11.6pp	-9.9%+7.0pp
Net Margin	-14.1%-7.3pp	20.5%-18.5pp	N/A	-31.1%-19.0pp	-6.9%+4.7pp	39.0%+60.6pp	N/A	-12.1%+5.1pp
Return on Assets	-7.2%-3.9pp	10.1%-5.5pp	N/A	-14.8%-10.3pp	-3.3%+0.9pp	15.6%+22.8pp	N/A	-4.4%+0.6pp
Current Ratio	0.830.0x	0.840.0x	0.86-0.1x	0.81-0.1x	0.80-0.2x	0.87-0.3x	0.94-0.3x	0.94-0.4x
Asset Turnover	0.510.0x	0.49+0.1x	0.47+0.1x	0.47+0.1x	0.47+0.1x	0.40+0.1x	0.39+0.1x	0.36+0.1x
FCF Margin	-1.3%+5.6pp	-12.7%+7.9pp	23.6%+9.7pp	9.7%+6.3pp	-6.9%-0.2pp	-20.6%-16.7pp	14.0%+9.2pp	3.4%+16.0pp

Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.

Note: Shareholder equity is negative (-$415.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.86), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
The RealReal, Inc. REAL	FY2025	$692.8M	N/A	N/A	$1.1B	27/100
Movado Group, Inc. MOV	FY2026	$671.3M	$26.6M	4.0%	$751.0M	55/100
Capri Holdings Limited CPRI	FY2026	$3.5B	$79.0M	2.3%	$1.6B	30/100
Envela Corporation ELA	FY2025	$241.0M	$14.6M	6.1%	$315.7M	72/100
Signet Jewelers Limited SIG	FY2026	$6.8B	$294.4M	4.3%	$3.9B	44/100
Brilliant Earth Group, Inc. BRLT	FY2025	$437.5M	-$3.6M	-0.8%	$23.5M	45/100

Where The RealReal, Inc. Ranks

Frequently Asked Questions

What is The RealReal, Inc.'s annual revenue?

The RealReal, Inc. (REAL) reported $692.8M in total revenue for fiscal year 2025. This represents a 15.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is The RealReal, Inc.'s revenue growing?

The RealReal, Inc. (REAL) revenue grew by 15.4% year-over-year, from $600.5M to $692.8M in fiscal year 2025.

What is The RealReal, Inc.'s EBITDA?

The RealReal, Inc. (REAL) had EBITDA of $9.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is The RealReal, Inc.'s gross margin?

The RealReal, Inc. (REAL) had a gross margin of 74.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is The RealReal, Inc.'s operating margin?

The RealReal, Inc. (REAL) had an operating margin of -3.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is The RealReal, Inc.'s free cash flow?

The RealReal, Inc. (REAL) generated $18.4M in free cash flow during fiscal year 2025. This represents a 45.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is The RealReal, Inc.'s operating cash flow?

The RealReal, Inc. (REAL) generated $37.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are The RealReal, Inc.'s total assets?

The RealReal, Inc. (REAL) had $409.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are The RealReal, Inc.'s capital expenditures?

The RealReal, Inc. (REAL) invested $18.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does The RealReal, Inc. have outstanding?

The RealReal, Inc. (REAL) had 119M shares outstanding as of fiscal year 2025.

What is The RealReal, Inc.'s current ratio?

The RealReal, Inc. (REAL) had a current ratio of 0.86 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is The RealReal, Inc.'s P/E ratio?

The RealReal, Inc. (REAL) has no price-to-earnings ratio at the moment: no net income reported. The market capitalization is $1.1B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is The RealReal, Inc.'s price-to-sales ratio?

The RealReal, Inc. (REAL) trades at 1.4x sales, its market capitalization divided by revenue of $749.9M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is The RealReal, Inc.'s debt-to-equity ratio negative or not reported?

The RealReal, Inc. (REAL) has negative shareholder equity of -$415.5M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is The RealReal, Inc.'s Altman Z-Score?

The RealReal, Inc. (REAL) has an Altman Z-Score of -2.25, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is The RealReal, Inc.'s Piotroski F-Score?

The RealReal, Inc. (REAL) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Can The RealReal, Inc. cover its interest payments?

The RealReal, Inc. (REAL) reported an operating loss of $23.9M against $27.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is The RealReal, Inc.?

The RealReal, Inc. (REAL) scores 27 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.