RealReal Q3 adj EBITDA loss narrows to $7M; guides Q4 near breakeven

TheRealReal, Inc.

2023-Q3 EPS reported -$1.45 revenue$405,931,000

Q3 revenue $133M (-7% YoY); GMV $408M (-8%); gross margin 70.6% (+1053 bps).
Net loss $22.9M vs $47.3M; GAAP EPS -$0.22, non-GAAP -$0.15, both improved.
Adj EBITDA -$7.0M (5.2% of rev) vs -$28.2M (19.7%) a year ago; best since 2019 IPO.
Q4 guidance: GMV $430-460M, rev $135-145M, adj EBITDA -$5M to $0; on track for positive adj EBITDA in FY2024.
CFO Robert Julian to step down by Jan 31, 2024; company engaged Moelis & Wachtell for notes refinancing.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

TheRealReal, Inc. reported the quarter ended September 30, 2023 results: revenue $133 million, net income $(22.9) million, EPS $(0.22).

Period: the quarter ended September 30, 2023
Revenue: $133 million
Net income: $(22.9) million
EPS: $(0.22)
Result: reported results

Exact text from the filing

positive Adjusted EBITDA on a full year basis in 2024.” Third Quarter Highlights • GMV was $408 million, a decrease of 8% compared to the same period in 2022 • Total Revenue was $133 million, a decrease of 7% compared to the same period in 2022 • Gross Margin was 70.6%, an increase of 1053 basis points compared to the same period in 2022 • Net Loss was $(22.9)

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Source: SEC EDGAR

accession 0001573221-23-000084

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