secwatch.observer — SEC 8-K summary
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Issuer:     TheRealReal, Inc. (REAL)
CIK:        0001573221
Form:       8-K
Filed at:   2025-05-08T23:59:59+00:00
Accession:  0001573221-25-000045
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RealReal Q1 rev $160M (+11%), net income $62M, adj. EBITDA $4.1M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1573221/000157322125000045/0001573221-25-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1573221/000157322125000045/real-20250508.htm
  HTML page:      https://secwatch.observer/filing/0001573221-25-000045

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