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The RealReal REAL Business Segments — Operating Expenses

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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+80.2%
Enterprise value$1.64B+64.4%
P/S2.1×+0.7×

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:OperatingExpenses.

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 business segments — operating expenses?
The RealReal (REAL) reported business segments — operating expenses of $143.61M in Q1 2026.
How has The RealReal's business segments — operating expenses changed year-over-year?
The RealReal's business segments — operating expenses increased by 8.1% year-over-year, from $132.79M to $143.61M.
What is the long-term trend for The RealReal's business segments — operating expenses?
Over 3 years (2022 to 2025), The RealReal's business segments — operating expenses has grown at a 0.2% compound annual growth rate (CAGR), from $537.85M to $540.76M.
What does business segments — operating expenses mean?
The sum of all costs incurred to run the segment's daily operations, excluding the direct cost of revenue. This metric is critical for assessing the segment's operational leverage and overall cost management discipline.