The strong beat and raised guidance should drive a significant positive reaction. Monitor Q2 guidance ($186-$189M revenue, $11-$12M EBITDA) and GMV trajectory for sustained momentum.
Price Chart
Executive Summary
TheRealReal reported Q1 2026 revenue of $190M (+19% YoY) and non-GAAP EPS of -$0.01, beating consensus of -$0.07 by 85.7%. GMV grew 24% to $606M, Adjusted EBITDA improved to $13.1M (6.9% margin) from $4.1M, and the company raised full-year guidance. The strong beat and raised outlook signal accelerating momentum in luxury resale.
Key Financial Metrics
Key Facts
- Total revenue $189.7M, up 19% YoY (consignment +18%, direct +26%)
- Non-GAAP EPS -$0.01 vs consensus -$0.07 (beat by 85.7%)
- GMV $606M, up 24% YoY; Active Buyers 1.08M, up 10%
- Adjusted EBITDA $13.1M (6.9% of revenue) vs $4.1M (2.6%) last year
- Raised FY2026 guidance: revenue $770-$784M, Adjusted EBITDA $59-$67M
Financial Impact
Positive: EPS beat of $0.06 vs -$0.07 consensus; revenue beat by ~$1.3M vs implied $188.4M consensus; raised FY guidance by $5-10M at midpoint
Risk Factors
- GAAP net income declined due to prior-year debt extinguishment gain; still GAAP unprofitable
- Gross margin contracted 50bps to 74.5%
- Operating cash flow negative at -$16.6M, free cash flow -$27.3M
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001573221-26-000045 |
| Document: 0001573221-26-000045-index.html | 0001573221-26-000045 |
| Document: 0001573221-26-000045.txt | 0001573221-26-000045 |
| 8-K Data (Synthetic) | 0001573221-26-000045 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $10.54 | awaiting T+60 | — | $10.79 (+2.37%) |
Oct 14, 2026 12d ago | Press Release | $10.54 | awaiting T+60 | — | $10.79 (+2.37%) |
Aug 24, 2026 9w ago | Insider Cluster | $11.12 | awaiting T+60 | — | $10.79 (−2.97%) |
Jul 16, 2026 14w ago | Press Release | $11.21 $9.69 | ▼ −13.56% | ▼ −18.24% | $10.79 (−3.75%) |
May 22, 2026 22w ago | Insider Cluster | $9.50 $11.78 | ▲ +24.00% | ▲ +21.28% | $10.79 (+13.58%) |
May 8, 2026 24w ago | S-3ASR | $9.97 $12.65 | ▲ +26.88% | ▲ +22.49% | $10.79 (+8.22%) |
May 7, 2026 24w ago | 8-K | $10.26 $12.72 | ▲ +23.98% | ▲ +19.14% | $10.79 (+5.17%) |
Apr 27, 2026 26w ago | DEFA14A | $11.78 $11.37 | ▼ −3.48% | ▼ −7.47% | $10.79 (−8.40%) |
Apr 16, 2026 27w ago | Press Release | $12.08 $10.88 | ▼ −9.93% | ▼ −16.08% | $10.79 (−10.68%) |
Feb 26, 2026 34w ago | 8-K | $12.26 $9.50 | ▼ −22.51% | ▼ −31.90% | $10.79 (−11.99%) |
US Market Status
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