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The RealReal REAL Gross Profit

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Other financials

Income statement

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Revenue$192.6M+16.6%
Operating income-$2.3M+76.9%
Net income-$27.2M-140%
EPS (diluted)-$0.23-76.9%

Balance sheet

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Cash & equivalents$133.9M+22.6%
Total debt$231.8M-2.6%
Total equity-$377.7M-11.7%
Total assets$378.3M+8.3%

Cash flow

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Operating cash flow-$16.6M+41.2%
CapEx$4.0M-48.4%
Free cash flow-$2.4M+78.8%

Valuation

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Market cap$1.54B+137%
Enterprise value$1.64B+110%
P/S2.1×+1.0×

Profitability

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Gross margin74.5%-0.1pp
Operating margin-5.3%-1.9pp
Net margin-10.8%+201pp
FCF margin4.8%+3.6pp

Returns & leverage

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Return on equity-178.6%
Debt / equity2.2×
Current ratio0.8×0.0×

Where this comes from

Calculated from The RealReal’s reported figures.

The source filing: The RealReal’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:12 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001573221-26-000053
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Cost of direct revenue20,40717,18540,69132,420
Cost of shipping services revenue12,88711,56625,53723,387
Total cost of revenue49,36942,51297,75082,522
Gross profit143,202122,676284,536242,699
Operating expenses:
Marketing18,38215,54836,93931,403
Operations and technology74,70668,986147,425135,964
Selling, general and administrative52,39748,027104,72997,988

Item 1. Financial Statements (Unaudited)

FAQ

What is The RealReal's gross profit?
The RealReal (REAL) reported gross profit of $143.2M in Q2 2026.
How has The RealReal's gross profit changed year-over-year?
The RealReal's gross profit increased by 16.7% year-over-year, from $122.68M to $143.2M.
What is the long-term trend for The RealReal's gross profit?
Over 4 years (2021 to 2025), The RealReal's gross profit has grown at a 17.2% compound annual growth rate (CAGR), from $273.48M to $516.82M.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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