---
schema_version: "secwatch.filing_event.v1"
accession: "0001573221-26-000045"
form_type: "8-K"
ticker: "REAL"
cik: "0001573221"
company_name: "TheRealReal, Inc."
filed_at: "2026-05-07T23:59:59+00:00"
generated_at: "2026-05-14T21:41:16.591457+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# RealReal Q1: GMV +24% to $606M, raises FY2026 guidance

## Summary
- Q1 GMV $606M (+24% YoY); Total Revenue $190M (+19% YoY); Gross Profit $141M (+$21M).
- Adjusted EBITDA $13.1M (6.9% margin) vs $4.1M (2.6%) a year ago, a $9M improvement.
- GAAP basic EPS $0.33; GAAP diluted EPS $(0.07); Non-GAAP diluted EPS $(0.01).
- Active buyers (TTM) 1.083M (+10%); AOV $646 (+15%).
- FY2026 guidance raised: GMV $2.42-2.47B, Revenue $770-784M, Adj EBITDA $59-67M.

## SEC filing metadata
- accession: 0001573221-26-000045
- form_type: 8-K
- ticker: REAL
- cik: 0001573221
- company_name: TheRealReal, Inc.
- filed_at: 2026-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1573221/000157322126000045/0001573221-26-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1573221/000157322126000045/real-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001573221-26-000045
- JSON: https://secwatch.observer/filing/0001573221-26-000045.json
- Plain text: https://secwatch.observer/filing/0001573221-26-000045.txt

## Source-grounded claims
- claim_id: bd888b7bf92acc6d8fe307939a36e4e7f3498813
  claim: TheRealReal, Inc. reported first quarter ended March 31, 2026 results: revenue $190 million, net income $39 million, EPS $0.33. Guidance raised.
  evidence_excerpt: as the operating system for luxury ownership.” First Quarter Highlights • GMV wa s $606 million, an increase of 24% compared to the same period in 2025 • Total Revenue was $190 million, an increase of 19% compared to the same period in 2025 • Gross Profit was $141 million, an increase of $21 million compared to the same period in 2025 • Gross Margin was 74.5%,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1573221/000157322126000045/0001573221-26-000045-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.