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The RealReal REAL Direct revenue — Total Cost of Revenue

Other product segments

Consignment revenue
$16.08M+16.8%
Shipping services revenue
$12.89M+11.4%

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Other financials

Income statement

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Revenue$192.6M+16.6%
Gross profit$143.2M+16.7%
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$1.5B+98.0%
Enterprise value$1.59B+80.2%
P/S+0.8×

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:CostOfRevenue.

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
Total revenue192,571165,188382,286325,221
Cost of revenue:
Cost of consignment revenue16,07513,76131,52226,715
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:

Item 1. Financial Statements (Unaudited)

FAQ

What is The RealReal's direct revenue — total cost of revenue?
The RealReal (REAL) reported direct revenue — total cost of revenue of $20.41M in Q2 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 18.7% year-over-year, from $17.19M to $20.41M.
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.

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