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The RealReal REAL Operating Income

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Other financials

Income statement

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Revenue$192.6M+16.6%
Gross profit$143.2M+16.7%
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

Reported directly by The RealReal in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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
Operations and technology74,70668,986147,425135,964
Selling, general and administrative52,39748,027104,72997,988
Total operating expenses145,485132,561289,093265,355
Loss from operations(2,283)(9,885)(4,557)(22,656)
Change in fair value of warrant liability(18,583)4,53728,75247,040
Gain on extinguishment of debt37,101
Interest income9021,1091,9032,483
Interest expense(7,322)(7,038)(14,543)(13,358)

Item 1. Financial Statements (Unaudited)

FAQ

What is The RealReal's operating income?
The RealReal (REAL) reported operating income of -$2.28M in Q2 2026.
How has The RealReal's operating income changed year-over-year?
The RealReal's operating income increased by 76.9% year-over-year, from -$9.89M to -$2.28M.
What is the long-term trend for The RealReal's operating income?
Over 3 years (2021 to 2024), The RealReal's operating income has grown at a -35.9% compound annual growth rate (CAGR), from -$214.91M to -$56.5M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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