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The RealReal REAL Direct revenue — Total Cost of Revenue

Other product segments

Consignment revenue
$15.45M+19.2%
Shipping services revenue
$12.65M+7.0%

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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 us-gaap:CostOfRevenue.

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 direct revenue — total cost of revenue?
The RealReal (REAL) reported direct revenue — total cost of revenue of $20.28M in Q1 2026.
How has The RealReal's direct revenue — total cost of revenue changed year-over-year?
The RealReal's direct revenue — total cost of revenue increased by 33.1% year-over-year, from $15.24M to $20.28M.
What is the long-term trend for The RealReal's direct revenue — total cost of revenue?
Over 4 years (2021 to 2025), The RealReal's direct revenue — total cost of revenue has grown at a -8.6% compound annual growth rate (CAGR), from $101.43M to $70.68M.
What does direct revenue — total cost of revenue mean?
This metric captures the direct costs associated with acquiring, authenticating, and preparing inventory for the company's first-party retail sales segment. It includes the purchase price of goods and related fulfillment expenses necessary to bring the inventory to a saleable condition. Monitoring this cost is essential for evaluating the gross margin efficiency of the direct sales business model.