Q1 2022 GMV up 31% to $428M, revenue up 48% to $147M, beat guidance; FY2022 outlook reaffirmed

TheRealReal, Inc.

2022-Q1 EPS reported -$0.61 revenue$146,700,000

GMV $428M (+31% YoY); total revenue $147M (+48%); net loss $57M vs $56M in prior year.
Adjusted EBITDA -$35.3M (-24.1% of revenue) vs -$35.6M (-36.1%) in Q1 2021; operating leverage improving.
Q2 2022 guidance: GMV $450-470M, revenue $150-160M, adjusted EBITDA loss $(33-29)M; FY2022 reaffirmed.
Active buyers 828k (+21%), orders 878k (+27%), AOV $487 (+3%); repeat buyers 85% of GMV.
Cash $361M; company-owned inventory $73.7M; on track for adjusted EBITDA profitability in 2024 (Vision 2025).

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