The RealReal, Inc.'s SEC filings document the operating results, governance actions and capital-structure disclosures of its authenticated luxury resale marketplace. Form 8-K reports furnish quarterly and annual earnings releases, including GMV, revenue, Adjusted EBITDA, operating cash flow and active buyer metrics tied to the company's consignment and direct revenue model.
Proxy and material-event filings cover board composition, director appointments and resignations, executive compensation, equity awards, shareholder voting matters, governance committees, material agreements and common-stock disclosures. The filings also identify The RealReal's registered common stock under the REAL symbol on the Nasdaq Global Select Market.
The RealReal, Inc. (REAL) entered a credit agreement for a $150 million senior secured term loan and a senior secured revolving facility with $25 million in aggregate commitments. The company expects to use term-loan proceeds, together with cash on hand, to redeem in full its 4.25%/8.75% PIK/Cash Senior Secured Notes due 2029 and pay related fees and expenses. Funding and revolver availability are subject to conditions, including redemption in full substantially concurrently; funding and redemption are expected on or about October 19, 2026.
Loans initially accrue interest at adjusted Term SOFR plus 5.75%, subject to adjustment based on the first lien net leverage ratio. The term loan amortizes in equal quarterly installments of 0.25% of initial principal, beginning the last business day of the first full fiscal quarter after funding.
Quarterly covenants require a first lien gross leverage ratio of 4:75 to 1.00 through the quarter ending December 31, 2028, then 4:25 to 1.00 thereafter, and at least $25 million in liquidity. The facilities mature seven years after the Funding Date, except that they mature 91 days before the stated maturity of the 2031 Notes if at least $25 million of those notes remains outstanding then. Voluntary prepayments carry a 2.00% premium before the first anniversary and a 1.00% premium after the first but before the second anniversary.
TheRealReal, Inc. (REAL) director Karen Katz acquired 2,262 deferred restricted stock units (DRSUs) on September 30, 2026. The units were fully vested when granted under the 2019 Equity Incentive Plan; each DRSU is the economic equivalent of one common share. They are deferred and generally will be settled upon her separation from service as a Non-Employee Director or on a date she elects. Her reported direct position following the transaction was 256,145 shares.
TheRealReal, Inc. director Mark McCaffrey acquired 1,414 deferred restricted stock units (DRSUs) on September 30, 2026, under the company's 2019 Equity Incentive Plan. The DRSUs are fully vested; each is economically equivalent to one common share, and they generally settle upon his separation from service as a Non-Employee Director or on a date he elects. His reported direct position after the transaction was 29,169 shares.
TheRealReal, Inc. (REAL) reported that its Chief Financial Officer, Ajay Madan Gopal, had common stock transactions on August 21, 2026. A total of 36,418 shares of common stock were sold at $10.98 per share, and a footnote states these shares were automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of an equity award.
TheRealReal, Inc. (REAL) reported that Chief Product & Tech Officer Luke Thomas Friang had common stock automatically sold on 2026-08-21. Four transactions totaling 22,028 shares at $10.98 per share were executed to satisfy withholding taxes due upon the vesting of an equity award.
TheRealReal, Inc. (REAL) reported that Chief Accounting Officer Steve Ming Lo had shares of common stock sold on August 21, 2026, totaling 12,559 shares at prices around $10.97–$10.98 per share. According to the company’s disclosure, these shares were automatically sold to cover withholding taxes due on a vesting equity award.
TheRealReal, Inc. (REAL) reported that Chief Legal Officer Todd A. Suko had company-facilitated sales totaling 17,567 shares of common stock on August 21, 2026. Footnotes state these shares were automatically sold by The RealReal, Inc. to satisfy withholding taxes due upon vesting of an equity award, rather than discretionary open-market sales.
An additional footnote explains that a prior Form 4 filed on November 18, 2025 overreported 70 shares sold because of an administrative error, and that the currently reported amount now correctly reflects the reporting person’s beneficial ownership.
TheRealReal, Inc. (REAL) reported that Chief Executive Officer Rati Sahi Levesque had shares of common stock sold on August 21, 2026, totaling 84,432 shares at $10.98 per share. A footnote states these shares were automatically sold by TheRealReal to satisfy withholding taxes due on the vesting of an equity award, rather than as a discretionary open-market sale.
The RealReal, Inc. reported Q2 2026 revenue of $192.6 million on GMV of $617.3 million, driven by higher consignment, direct and shipping services revenue. Gross profit was $143.2 million and loss from operations narrowed to $2.3 million. Adjusted EBITDA improved to $13.5 million, while non‑cash warrant remeasurement and interest expense contributed to a net loss attributable to common stockholders of $27.2 million, or $0.23 per basic and diluted share.
For the first six months of 2026, revenue reached $382.3 million and net income attributable to common stockholders was $11.7 million, below the prior year, which included a $37.1 million gain on extinguishment of debt and a larger gain from warrant remeasurement.
Marketplace activity strengthened, with Q2 GMV of $617.3 million, 937 thousand orders, 1.107 million active buyers, average order value of $659 and a consignment take rate of 35.9%. Net cash used in operating activities was $15.0 million in the first half. Cash, cash equivalents and restricted cash totaled $133.9 million against $756.0 million of liabilities and a stockholders’ deficit of $377.7 million, reflecting sizable 2028, 2029 and 2031 notes and a $74.7 million warrant liability.
The RealReal, Inc. reported strong growth for the quarter ended June 30, 2026, with gross merchandise value of $617 million, up 22% year over year, and total revenue of $193 million, up 17%. Consignment revenue grew 15% and direct revenue 26% versus the prior-year quarter.
Profitability metrics improved, with gross margin at 74.4% and Adjusted EBITDA of $13.5 million, a 7.0% margin versus 4.1% a year ago, while loss from operations narrowed to $(2.3) million from $(9.9) million. GAAP net loss was $27 million, or 14.1% of revenue, including an $18.6 million non-cash warrant-liability adjustment; non-GAAP net loss per share was $0.01.
Trailing twelve months active buyers rose 11% to 1,107,000 and average order value increased 13% to $659. On the back of results above the high end of its outlook, the company raised full-year 2026 guidance, targeting GMV of $2.535 - $2.565 billion and Adjusted EBITDA of $66.0 - $69.0 million.