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The RealReal REAL Capped calls

Capped calls at other companies

DigitalOcean logo
DigitalOceanDOCN
$17.45M
CleanSpark logo
CleanSparkCLSK
$0
Solaris Energy Infrastructure logo
Solaris Energy InfrastructureSEI
$16.4M
Voyager Technologies, Inc. logo
Voyager Technologies, Inc.VOYG
$16.69M
Glaukos logo
GlaukosGKOS
$73.75K
Alphatec Holdings logo
Alphatec HoldingsATEC
$0-100%

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
Net margin-9%+5.3pp
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

Reported directly by The RealReal in its filing.

Tagged under the XBRL concept real:DeferredTaxAssetsCappedCalls.

The official record: The RealReal’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is The RealReal's capped calls?
The RealReal (REAL) reported capped calls of $14.24M in Q4 2025.
How has The RealReal's capped calls changed year-over-year?
The RealReal's capped calls decreased by 5.1% year-over-year, from $15.01M to $14.24M.
What does capped calls mean?
This metric captures the deferred tax asset associated with capped call transactions, which are financial instruments often used to hedge against potential dilution from convertible debt. It reflects the tax treatment of the premiums paid or the accounting adjustments related to these hedging derivatives. It is used to assess the tax efficiency of the company's capital structure and hedging strategies.