secwatch.observer — SEC 8-K summary
======================================

Issuer:     TheRealReal, Inc. (REAL)
CIK:        0001573221
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001573221-23-000047
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

The RealReal Q1: consignment revenue +22%, Adj EBITDA loss narrows to $27.3M
----------------------------------------------------------------------------

- Q1 GMV $444M (+4% YoY); total revenue $142M (-3% YoY); consignment revenue +22%, direct -49%.
- Net loss $(82.5)M incl. $36.4M restructuring; GAAP EPS $(0.83); non-GAAP EPS $(0.36).
- Adjusted EBITDA $(27.3)M (19.2% rev) vs $(35.3)M (24.1%) prior year; Q2 guide $(29)-$(25)M.
- Active buyers 1,014,000 (+22%); AOV $499 (+2%); repeat buyer GMV 86%.
- FY23 guidance: revenue $535-565M, Adj EBITDA $(75)-$(65)M; on track for Adj EBITDA profitability in 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1573221/000157322123000047/0001573221-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1573221/000157322123000047/real-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001573221-23-000047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer