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The RealReal REAL Q4 2025 Annual earnings

Reported February 26, 2026 · After market close

Revenue$194.1MBeat by $5.3M
EPS$0.06Beat by $0.02
Revenue estimate$188.7M
EPS estimate$0.04

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$187.8M
EPS estimate-$0.02

Financials

Q4 2025

Income statement

See full
Revenue$194.1M+18.3%
Gross profit$145.2M+19.0%
Net income-$38.8M+43.3%
EPS (diluted)-$0.32+49.2%

Balance sheet

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Cash & equivalents$166.0M-11.3%
Total debt$232.4M-13.8%
Total equity-$415.5M-2.0%
Total assets$409.0M-3.3%

Cash flow

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Operating cash flow$49.5M+76.9%
CapEx$3.7M-27.4%
Free cash flow$45.8M+100%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$1.84B+53.6%
Enterprise value$1.91B+48.9%
P/S2.7×+0.7×

Profitability

See full
Gross margin74.6%+0.1pp
Net margin-6%-2.5pp
FCF margin2.7%+0.6pp

Returns & leverage

See full
Current ratio0.9×-0.1×

Segments

By product

See full
Consignment revenue$149.0M+16.3%
Shipping services revenue$17.8M+9.0%

By segment

See full
Reportable Segment$194.1M+18.3%

Versus estimates

Revenue

Q1 2026$189.7MBeat by $1.9M
Q4 2025$194.1MBeat by $5.3M
Q3 2025$173.6MBeat by $4.5MQ2 2025$165.2MMiss by $4.2MQ1 2025$160.0MBeat by $359.6KQ4 2024$164.0MMiss by $159.6K

Diluted EPS

Q1 2026-$0.01In line
Q4 2025$0.06Beat by $0.02
Q3 2025-$0.49Miss by $0.43Q2 2025-$0.13Beat by $0.02Q1 2025-$0.14Miss by $0.01Q4 2024-$0.62Miss by $0.59

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Questions, answered.

When did The RealReal report Q4 2025 earnings?
The RealReal (REAL) reported Q4 2025 earnings on February 26, 2026 after market close.
What were The RealReal's Q4 2025 revenue and EPS?
The RealReal reported revenue of $194.1M and eps of $0.06 for Q4 2025.
Did The RealReal beat estimates in Q4 2025?
Revenue beat the consensus estimate of $188.7M by $5.3M. EPS beat the consensus estimate of $0.04 by $0.02.
How did The RealReal's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 18.3% from $164.0M a year earlier.
Where can I find The RealReal's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001573221-26-000009) and the 10-K periodic report (0001573221-26-000010) directly on SEC EDGAR. The filing index links above go to sec.gov.