What is The RealReal's net margin?

The RealReal (REAL) reported net margin of -9% in Q1 2026.

How has The RealReal's net margin changed year-over-year?

The RealReal's net margin decreased by 36.9% year-over-year, from -6.6% to -9%.

What is the long-term trend for The RealReal's net margin?

Over 5 years (2020 to 2025), The RealReal's net margin has grown at a -36.5% compound annual growth rate (CAGR), from -58.6% to -6%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

The RealReal REAL Net margin

Net margin at other companies

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17.6%-2.2pp

ThredUp Inc.TDUP

-6.7%-2.8pp

Savers Value VillageSVV

1.3%-0.4pp

CompassCOMP

0.2%+0.1pp

BNL

Broadstone Net LeaseBNL

27%+0.8pp

InvenTrust PropertiesIVT

35.7%+29.4pp

Other financials

Income statement

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Revenue$189.7M+18.5%

Gross profit$141.3M+17.8%

Operating income-$2.3M+82.2%

Net income$38.9M-37.6%

EPS (diluted)-$0.07+50.0%

Balance sheet

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Cash & equivalents$138.8M-10.2%

Total debt$233.4M-13.4%

Total equity-$359.4M-6.9%

Total assets$385.9M-3.6%

Cash flow

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Operating cash flow-$16.6M+41.2%

CapEx$7.5M+58.5%

Free cash flow-$24.1M+26.9%

Valuation

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Market cap$1.55B+169%

Enterprise value$1.64B+138%

P/S2.1×+1.2×

Profitability

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Gross margin74.5%-0.2pp

Operating margin-5.3%-1.9pp

FCF margin3.8%+2.7pp

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.

net income/total revenue=-9%

Based on trailing twelve months.

The official record: The RealReal’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is The RealReal's net margin?: The RealReal (REAL) reported net margin of -9% in Q1 2026.
How has The RealReal's net margin changed year-over-year?: The RealReal's net margin decreased by 36.9% year-over-year, from -6.6% to -9%.
What is the long-term trend for The RealReal's net margin?: Over 5 years (2020 to 2025), The RealReal's net margin has grown at a -36.5% compound annual growth rate (CAGR), from -58.6% to -6%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.