TheRealReal, Inc.
REALNasdaqConsumer Discretionary · Retail-Miscellaneous Retail · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $692.8M | $600.5M | $549.3M | $603.5M | $467.7M | $299.9M |
| Operating income | −$23.9M | −$56.5M | −$166.3M | −$189.2M | −$214.9M | −$172.8M |
| Net income | −$41.8M | −$134.2M | −$168.5M | −$196.4M | −$236.1M | −$175.8M |
| Total assets | $409.0M | $423.1M | $446.9M | $615.6M | $754.9M | $605.1M |
| Total liabilities | $824.6M | $830.5M | $750.2M | $785.7M | $681.8M | $413.8M |
| Equity | −$415.5M | −$407.4M | −$303.3M | −$170.1M | $73.1M | $191.3M |
| EPS (diluted) | $-0.70 | $-1.24 | $-1.65 | $-2.05 | $-2.58 | $-2.01 |
| Shares out. | 111.2M | 104.7M | 99.2M | 93.1M | 89.8M | 86.5M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −3.5%
- Net margin
- −6.0%
- Return on equity
- 10.1%
- Return on assets
- −10.2%
- Return on capital (ROCE)
- −16.5%
- Liabilities / assets
- 201.6%
- Debt / equity
- —
- Book value / share
- $-3.74
- Revenue growth (YoY)
- 15.4%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -11.84distress
- Accruals / assets
- −19.3%clean
- Beneish M-Score
- -2.83normal
- Piotroski F-Score
- 5/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 2 severe● 3 warning● 3 good- Negative shareholder equity
- Altman Z″ in the distress zone
- Operating losses (negative operating margin)
- Reported a net loss
- High leverage (liabilities > 70% of assets)
- Revenue is growing year-over-year
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Vanguard Group IncPassive (13G)Mar 27, 2026
- Riley Timothy MPassive (13G)Jan 16, 2026
- Greylion Partners LpPassive (13G)Jan 13, 2026
- Fmr LlcPassive (13G)Jan 8, 2026
- Woodson Capital Management, LpPassive (13G)Oct 10, 2025
- Philotimo Fund, LpActivist (13D)Jan 30, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 16.8M | 3.2 | +6.2% |
| Apr 30, 2026 | 15.8M | 5.4 | -13.2% |
| Apr 15, 2026 | 18.2M | 7.6 | -8.8% |
| Mar 31, 2026 | 19.9M | 5.9 | +9.6% |
| Mar 13, 2026 | 18.2M | 5.0 | -3.4% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsMay 7, 2026
- Director / officer change · Regulation FD disclosureMar 9, 2026
- Results of operationsFeb 26, 2026
- Director / officer changeNov 18, 2025
- Results of operationsNov 10, 2025
- New financial obligation · Unregistered equity saleAug 21, 2025
- Results of operationsAug 7, 2025
- Director / officer changeJul 18, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.