RealReal Q2 beats guidance; GMV $423M, revenue $131M, adj EBITDA -$22.3M; guides FY

TheRealReal, Inc.

2023-Q2 EPS reported -$1.23 revenue$272,759,000

GMV $423M (-7% YoY), revenue $131M (-15% YoY); gross margin 65.9% (+908bps YoY).
GAAP net loss $41.3M ($0.41/sh) vs $53.2M ($0.56/sh) in Q2 2022; non-GAAP loss $0.30/sh.
Adjusted EBITDA loss $22.3M (17.1% of rev) vs $28.8M (18.7%) prior year; cash $206M.
Q3 guidance: GMV $385-415M, revenue $120-130M, adj EBITDA -$18 to -$15M.
Full year 2023: GMV $1.725-1.775B, revenue $540-560M, adj EBITDA -$72 to -$66M; on track for adj EBITDA profitability in 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TheRealReal, Inc. reported the quarter ended June 30, 2023 results: revenue $131 million, net income $(41.3) million, EPS $(0.41). Guidance reaffirmed.

Period: the quarter ended June 30, 2023
Revenue: $131 million
Net income: $(41.3) million
EPS: $(0.41)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

profitability on a full year basis in 2024.” Second Quarter Financial Highlights • GMV was $423 million, a decrease of 7% compared to the same period in 2022 • Total Revenue was $131 million, a decrease of 15% compared to the same period in 2022 • Gross Margin was 65.9%, an increase of 908 basis points compared to the same period in 2022 • Net Loss was $41.3 million

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Source: SEC EDGAR

accession 0001573221-23-000072

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