{"schema_version":"secwatch.filing_event.v1","accession":"0001573221-26-000009","form_type":"8-K","ticker":"REAL","cik":"0001573221","company_name":"TheRealReal, Inc.","filed_at":"2026-02-26T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.495842+00:00","generated_at":"2026-05-15T23:35:45.856383+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"The RealReal Q4 2025 GMV +22% to $616M; Adj EBITDA $22M, guides FY 2026 GMV $2.39-2.45B","bullets":["Q4 total revenue $194M (+18% YoY); full-year revenue $693M (+15% YoY).","Q4 Adj EBITDA $22M (11.3% margin) vs $11M in Q4 2024; full-year Adj EBITDA $42M.","Full-year net loss improved to $42M from $134M; full-year operating cash flow $37M.","Active buyers reached 1,056,000 (+9% YoY); AOV $594 (+9% YoY) for full year.","Q1 2026 guidance: GMV $585-600M, Adj EBITDA $11-13M; FY 2026 Adj EBITDA $57-65M."],"urls":{"canonical":"https://secwatch.observer/filing/0001573221-26-000009","json":"https://secwatch.observer/filing/0001573221-26-000009.json","markdown":"https://secwatch.observer/filing/0001573221-26-000009.md","text":"https://secwatch.observer/filing/0001573221-26-000009.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1573221/000157322126000009/0001573221-26-000009-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1573221/000157322126000009/real-20260226.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T23:35:45.856383+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"}