---
schema_version: "secwatch.filing_event.v1"
accession: "0001573221-22-000064"
form_type: "8-K"
ticker: "REAL"
cik: "0001573221"
company_name: "TheRealReal, Inc."
filed_at: "2022-05-10T23:59:59+00:00"
generated_at: "2026-06-25T21:40:55.954602+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001573221-22-000064
- form_type: 8-K
- ticker: REAL
- cik: 0001573221
- company_name: TheRealReal, Inc.
- filed_at: 2022-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1573221/000157322122000064/0001573221-22-000064-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1573221/000157322122000064/real-20220510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001573221-22-000064
- JSON: https://secwatch.observer/filing/0001573221-22-000064.json
- Plain text: https://secwatch.observer/filing/0001573221-22-000064.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.