{"schema_version":"secwatch.filing_event.v1","accession":"0001573221-25-000045","form_type":"8-K","ticker":"REAL","cik":"0001573221","company_name":"TheRealReal, Inc.","filed_at":"2025-05-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.837627+00:00","generated_at":"2026-05-22T04:24:30.924050+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"RealReal Q1 rev $160M (+11%), net income $62M, adj. EBITDA $4.1M","bullets":["Revenue $160M (+11% YoY); GMV $490M (+9%). Gross margin 75.0%, up 40 bps.","Net income $62M vs $(31)M loss prior year; includes $80M non-cash gains.","Adj. EBITDA $4.1M (2.6% margin) vs $(2.3)M prior year; improved $6.4M YoY.","GAAP basic EPS $0.56; non-GAAP diluted loss per share $(0.08) vs $(0.12).","Reaffirmed FY2025 guidance: rev $645-$660M, adj. EBITDA $20-$30M. Active buyers 985k, AOV $564."],"urls":{"canonical":"https://secwatch.observer/filing/0001573221-25-000045","json":"https://secwatch.observer/filing/0001573221-25-000045.json","markdown":"https://secwatch.observer/filing/0001573221-25-000045.md","text":"https://secwatch.observer/filing/0001573221-25-000045.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1573221/000157322125000045/0001573221-25-000045-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1573221/000157322125000045/real-20250508.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T04:24:30.924050+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}