---
schema_version: "secwatch.filing_event.v1"
accession: "0001573221-23-000021"
form_type: "8-K"
ticker: "REAL"
cik: "0001573221"
company_name: "TheRealReal, Inc."
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T22:06:11.566250+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# RealReal Q4 revenue $160M (+10% YoY), net loss narrows to $39M; new CEO John Koryl appointed

## Summary
- Q4 GMV $493M (+13% YoY); total revenue $160M (+10% YoY); net loss $39M vs $52M loss in Q4 2021.
- FY 2022 revenue $603M (+29% YoY); net loss $196M vs $236M loss in 2021; Adjusted EBITDA -$112.4M.
- Appointed John Koryl as CEO and Luke Friang as CTPO; workforce reduced by ~7% and real estate rationalized.
- Q1 2023 guidance: GMV $430-460M, revenue $135-145M, Adjusted EBITDA -$35 to -$31M.
- Company projects profitability on full-year Adjusted EBITDA basis in 2024; cash and equivalents $294M at year-end.

## SEC filing metadata
- accession: 0001573221-23-000021
- form_type: 8-K
- ticker: REAL
- cik: 0001573221
- company_name: TheRealReal, Inc.
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1573221/000157322123000021/0001573221-23-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1573221/000157322123000021/real-20230228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001573221-23-000021
- JSON: https://secwatch.observer/filing/0001573221-23-000021.json
- Plain text: https://secwatch.observer/filing/0001573221-23-000021.txt

## Key facts
- Earnings Releases
  TheRealReal, Inc. reported fourth quarter ended December 31, 2022 results: revenue $160 million, net income $39 million, EPS $(0.39).
  - Period: fourth quarter ended December 31, 2022
  - Revenue: $160 million
  - Net income: $39 million
  - EPS: $(0.39)
  - Result: reported results
  source text: Fourth Quarter Financial Highlights • GMV was $493 million, an increase of 13% compared to the same period in 2021 • Total Revenue was $160 million, an increase of 10% compared to the same period in 2021 • Net Loss was $39 million compared to $52 million in the same period in 2021 • Adjusted EBITDA was $(20.2) million or (12.6)% of total revenue compared $(26.9) million or (18.5)% of total revenue in the fourth quarter of 2021 • GAAP basic and diluted net loss per share was $(0.39) compared to $(0.56) in the prior year period
  evidence_url: https://www.sec.gov/Archives/edgar/data/1573221/000157322123000021/0001573221-23-000021-index.htm
- Earnings Releases
  TheRealReal, Inc. reported full year ended December 31, 2022 results: revenue $603 million, net income $196 million, EPS $(2.05).
  - Period: full year ended December 31, 2022
  - Revenue: $603 million
  - Net income: $196 million
  - EPS: $(2.05)
  - Result: reported results
  source text: Full Year 2022 Financial Highlights • GMV was $1.8 billion, an increase of 23% compared to full year 2021 • Total Revenue was $603 million, an increase of 29% compared to full year 2021 • Net Loss was $196 million compared to $236 million in 2021 • Adjusted EBITDA was $(112.4) million or (18.6)% of total revenue compared to $(126.9) million or (27.1)% of total revenue for full year 2021 • GAAP basic and diluted net loss per share was $(2.05) compared to $(2.58) in the prior year 1
  evidence_url: https://www.sec.gov/Archives/edgar/data/1573221/000157322123000021/0001573221-23-000021-index.htm
- Earnings Releases
  TheRealReal, Inc. reported first quarter of 2023 results: revenue $135 - $145 million. Guidance initiated.
  - Period: first quarter of 2023
  - Revenue: $135 - $145 million
  - Guidance: initiated
  - Result: guidance update
  source text: Q1 2023 GMV $430 - $460 million Total Revenue $135 - $145 million Adjusted EBITDA $(35) - $(31) million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1573221/000157322123000021/0001573221-23-000021-index.htm

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