TheRealReal, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $692.8M | $600.5M | $549.3M | $603.5M | $467.7M |
| Gross profit | $516.8M | $447.5M | $376.3M | $348.7M | $273.5M |
| Operating income | -$23.9M | -$56.5M | -$166.3M | -$189.2M | -$214.9M |
| Operating expenses | $540.8M | $504.0M | $542.6M | $537.9M | $488.4M |
| Cost of revenue | $176.0M | $153.0M | $173.0M | $254.8M | $194.2M |
| Cash from operations | $37.0M | $26.8M | -$61.3M | -$91.6M | -$142.2M |
| Capital expenditure | $18.6M | $14.2M | $29.2M | $22.9M | $37.5M |
| Free cash flow | $18.4M | $12.6M | -$90.4M | -$114.4M | -$179.6M |
| Impairments | $0 | $0 | $39.7M | $0 | $0 |
| Total assets | $409.0M | $423.1M | $446.9M | $615.6M | $754.9M |
| Total liabilities | $824.6M | $830.5M | $750.2M | $785.7M | $681.8M |
Shares outstanding 120.5M · Free float 97.3%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.