secwatch.observer — SEC 8-K summary
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Issuer:     TheRealReal, Inc. (REAL)
CIK:        0001573221
Form:       8-K
Filed at:   2025-02-20T23:59:59+00:00
Accession:  0001573221-25-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

The RealReal Q4 revenue up 14% to $164M; FY Adj EBITDA positive $9M; guides FY 2025 Adj EBITDA $20-30M
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- Q4 revenue $164M (record high, +14% YoY); GMV $504M (+12%).
- FY 2024 net loss $134M improved $34M YoY; Adj EBITDA positive $9M (vs -$55M prior year).
- FY 2024 operating cash flow positive $27M (+$88M YoY); free cash flow positive $1M.
- Q4 GAAP EPS -$0.62 (includes $59M warrant liability adjustment); non-GAAP EPS -$0.01.
- Guidance: Q1 2025 revenue $157-161M, Adj EBITDA $3-4.5M; FY 2025 revenue $645-660M, Adj EBITDA $20-30M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1573221/000157322125000005/0001573221-25-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1573221/000157322125000005/real-20250220.htm
  HTML page:      https://secwatch.observer/filing/0001573221-25-000005

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