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

Issuer:     TheRealReal, Inc. (REAL)
CIK:        0001573221
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001573221-23-000084
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1573221/000157322123000084/0001573221-23-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1573221/000157322123000084/real-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001573221-23-000084

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