TheRealReal, Inc. reported first quarter ended March 31, 2026 results: revenue $190 million, net income $39 million, EPS $0.33. Guidance raised.
“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%,”
Debt Financings
TheRealReal, Inc. incurred convertible notes of $49,478,000 in aggregate principal amount of the holders’ 1.00% Convertible Senior Notes due 2028 for $43,394,000 in agg with certain Noteholder Parties at 4.00% Convertible Senior Notes due 2031 maturing 2031.
“On August 20, 2025, The RealReal, Inc. (the “ Company ”) entered into private, separately negotiated debt exchange transactions pursuant to certain exchange agreements (each, an “ Exchange Agreement ”) with certain Noteholder Parties (as defined therein), pursuant to which the parties agreed to exchange $49,478,000 in aggregate principal amount of the holders’ 1.00% Convertible Senior Notes due 2028 for $43,394,000 in aggregate principal amount of the Company’s 4.00% Convertible Senior Notes due 2031”
John Koryl departed as Chief Executive Officer at TheRealReal, Inc..
“John Koryl ceased to serve as Chief Executive Officer of the Company and resigned as a member of the Board on the same day.”
Rati Sahi Levesque was appointed as Class III Director at TheRealReal, Inc..
“the Board appointed Ms. Levesque as a member of the Board”
Rati Sahi Levesque was appointed as President and Chief Executive Officer at TheRealReal, Inc..
“the Board of Directors (the “Board”) of the Company appointed Rati Sahi Levesque, formerly the Company’s President and Chief Operating Officer, as President and Chief Executive Officer of the Company, effective as of October 28, 2024.”
Earnings Releases
TheRealReal, Inc. reported first quarter ended March 31, 2024 results: revenue $144 million, net income $(31.1) million, EPS $(0.30). Guidance raised.
“outstanding luxury goods to our buyers. ” First Quarter Financial Highlights • GMV wa s $452 million, an increase of 2% compared to the same period in 2023 • Total Revenue was $144 million, an increase of 1% compared to the same period in 2023 • Gross Profit was $107 million, an increase of $17 million compared to the same period in 2023 • Gross Margin was $74.6% ,”
Earnings Releases
TheRealReal, Inc. reported financial results for the quarter and fiscal year ended December 31, 2023.
“On February 29, 2024, The RealReal, Inc. (“The RealReal”) issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2023.”
Debt Financings
TheRealReal, Inc. incurred senior notes of $135,000,000 in aggregate principal amount of the Company’s 4.25%/8.75% PIK/Cash Senior Secured Notes due 2029 at 13.00% per annum, consisting of cash interest at a rate of 8.75% per annum and p maturing earlier of (a) March 1, 2029 and (b) any date, if any, on or after December 1, 2027 on which (a) the aggregate principal amount of the 1.00% Convertible Senior.
“the Company issued $135,000,000 in aggregate principal amount of New Notes pursuant to that certain Indenture, dated as of the Effective Date (the “Indenture”), by and among the Company, the Guarantors (as defined in the Indenture) party thereto from time to time and GLAS Trust Company LLC, as trustee and notes collateral agent.”
Material Agreements
TheRealReal, Inc. entered into Indenture with GLAS Trust Company LLC valued at $135,000,000 (effective 2024-02-29).
“On the Effective Date, in connection with the Exchange Transactions, the Company issued $135,000,000 in aggregate principal amount of New Notes pursuant to that certain Indenture, dated as of the Effective Date (the “Indenture”), by and among the Company, the Guarantors (as defined in the Indenture) party thereto from time to time and GLAS Trust Company LLC, as trustee and notes collateral agent.”
Material Agreements
TheRealReal, Inc. entered into Exchange Agreements with certain Noteholders valued at $135,000,000 (effective 2024-02-29).
“On February 29, 2024 (the “Effective Date”), the Company entered into private, separately negotiated exchange agreements (collectively, the “Exchange Agreements”) with certain Noteholders (as defined therein), pursuant to which the parties agreed to exchange (i) $145,751,000 in aggregate principal amount of the holders’ 3.00% Convertible Senior Notes due 2025 and (ii) $6,480,000 in aggregate principal amount of the holders’ 1.00% Convertible Senior Notes due 2028 (clauses (i) and (ii) together, the “Exchanged Notes”) for (a) $135,000,000 in aggregate principal amount of the Company’s 4.25%/8.75% PIK/Cash Senior Secured Notes due 2029”
Earnings Releases
TheRealReal, Inc. updated its Q1 2024 and Full Year 2024 guidance (initiated).
“Based on market conditions as of February 29, 2024, we are providing guidance for GMV, total revenue and Adjusted EBITDA, which is a non-GAAP financial measure.”
Earnings Releases
TheRealReal, Inc. updated its the quarter and fiscal year ended December 31, 2023 guidance (initiated).
“On February 29, 2024, The RealReal, Inc. (“The RealReal”) issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2023.”
Material Agreements
TheRealReal, Inc. entered into Exchange Agreements with certain Noteholders (effective 2024-02-29).
“On February 29, 2024 (the “Effective Date”), The RealReal, Inc. (the “Company”) entered into private, separately negotiated exchange agreements (collectively, the “Exchange Agreements”) with certain Noteholders (as defined therein), pursuant to which the parties agreed to exchange (i) $145,751,000 in aggregate principal amount of the holders’ 3.00% Convertible Senior Notes due 2025 and (ii) $6,480,000 in aggregate principal amount of the holders’ 1.00% Convertible Senior Notes due 2028 (clauses (i) and (ii) together, the “Exchanged Notes”) for (a) $135,000,000 in aggregate principal amount of the Company’s 4.25%/8.75% PIK/Cash Senior Secured Notes due 2029 (the “New Notes”), issued pursuant to the Indenture (as defined below), (b) warrants (the “Warrants”) to purchase up to 7,894,737 shares (subject to adjustment in accordance with their terms) of the Company’s common stock, $0.00001 par value per share, with a strike price of $1.71 and (c) accrued and unpaid interest on the Exchanged”
Material Agreements
TheRealReal, Inc. entered into Indenture with GLAS Trust Company LLC valued at $135,000,000 (effective 2024-02-29).
“On the Effective Date, in connection with the Exchange Transactions, the Company issued $135,000,000 in aggregate principal amount of New Notes pursuant to that certain Indenture, dated as of the Effective Date (the "Indenture"), by and among the Company, the Guarantors (as defined in the Indenture) party thereto from time to time and GLAS Trust Company LLC, as trustee and notes collateral agent.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.