{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-023641","form_type":"8-K","ticker":"REAL","cik":"0001573221","company_name":"TheRealReal, Inc.","filed_at":"2025-02-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:04.041001+00:00","generated_at":"2026-05-27T00:01:12.932313+00:00","sec_items":["1.01","2.02","2.03","3.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"RealReal reports preliminary Q4 GMV $503.5M, Adj. EBITDA above guidance; completes debt exchange reducing debt by $37M","bullets":["Preliminary Q4 GMV $503.5M (guidance $484-500M), total revenue ~$163.5M, Adj. EBITDA $10.7-11.2M (guidance $6.5-9.5M).","FY2024 GMV $1.829B, Adj. EBITDA $9.0-9.5M (guidance $4.7-7.7M); net loss includes $68M warrant liability charge.","FY2025 guidance: GMV $1.96-1.99B, revenue $645-660M, Adj. EBITDA $20-30M.","Exchanged $183M of 1.00% 2028 notes for $147M of 4.00% 2031 notes, reducing total debt by ~$37M and extending maturities to 2031."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-023641","json":"https://secwatch.observer/filing/0001193125-25-023641.json","markdown":"https://secwatch.observer/filing/0001193125-25-023641.md","text":"https://secwatch.observer/filing/0001193125-25-023641.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1573221/000119312525023641/0001193125-25-023641-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1573221/000119312525023641/d929762d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-27T00:01:12.932313+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}