AI Earnings Predictions for The RealReal Inc. (REAL)

EX-99.1

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EX-99.1

Document

Exhibit 99.1

THE REALREAL ANNOUNCES FIRST QUARTER 2026 RESULTS

Company delivered strong topline growth, improved operating cash flow,

and accelerated growth in trailing-12 month Active Buyers

SAN FRANCISCO, May 7, 2026 -The RealReal, Inc. (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury goods—today reported financial results for its first quarter ended March 31, 2026. First quarter 2026 gross merchandise value (GMV) and total revenue increased 24% and 19% respectively, compared to the first quarter of 2025. Consignment revenue grew 18% compared to the prior year period, and Direct Revenue grew 26% year-over-year in the first quarter. First quarter Adjusted EBITDA improved $9 million compared to the first quarter of 2025.

“In Q1, we delivered another quarter of growth along with Adjusted EBITDA margin expansion as our financial results exceeded expectations: GMV was up 24% and adjusted EBITDA margin expanded over 400 basis points. The strength of our platform — our customer relationships, our data, our brand, and our scale — was on display in the first quarter,” said Rati Levesque, President and Chief Executive Officer of The RealReal.

Levesque continued, "Through disciplined execution of our three strategic pillars, unlocking supply through our growth playbook, obsessing over service, and operational excellence, we are extending our leadership position in the growing luxury resale market. Our buyer growth, led by Gen Z and Millennials, reinforces that resale is a core component of the future of luxury. We are solidifying The RealReal as the operating system for luxury ownership.”

First Quarter Highlights

•GMV was $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%, a decrease of 50 basis points compared to the same period in 2025

•Net Income was $39 million or 20.5% of total revenue, compared to $62 million or 39.0% of total revenue in the same period in 2025

•Adjusted EBITDA was $13.1 million or 6.9% of total revenue compared to $4.1 million or 2.6% of total revenue in the same period in 2025

•GAAP basic net income (loss) per share was $0.33 compared to $0.56 in the prior year period and GAAP diluted net loss per share was $(0.07) compared to $(0.14) in the prior year period

•Non-GAAP basic and diluted net loss attributable to common shareholders per share was $(0.01) compared to $(0.08) in the prior year period

•Top-line-related Metrics

▪Trailing twelve months active buyer count was 1,083,000, an increase of 10% compared to the same period in 2025

▪Average order value (AOV) was $646, an increase of 15% versus the same period in 2025

Q2 and Full Year 2026 Guidance

Based on market conditions as of May 7, 2026, we are increasing our full year guidance. Additionally, we are providing guidance for second quarter 2026 GMV, Total Revenue and Adjusted EBITDA, which is a Non-GAAP financial measure.

We have not reconciled forward-looking Adjusted EBITDA to net income (loss), the most directly comparable GAAP measure, because we cannot predict with reasonable certainty the ultimate outcome of certain components of such reconciliations, including payroll tax expense on employee stock transactions, that are not within our control, or other components that may arise, without unreasonable effort. For these reasons, we are unable to assess the probable significance of the unavailable information, which could materially impact the amount of future net income (loss).

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Q2 2026

Full Year 2026

GMV$590 - $600 million$2.42 - $2.47 billion

Total Revenue$186 - $189 million$770 - $784 million

Adjusted EBITDA$11.0 - $12.0 million$59 - $67 million

Webcast and Conference Call

The RealReal will host a conference call to review the company’s first quarter results beginning at approximately 2:00 p.m. Pacific Time today (5:00 p.m. Eastern Time). A live webcast of the conference call and accompanying materials will be available online at investor.therealreal.com. A replay of the webcast will be available at the same location. To access the conference call by phone, participants will need to register to obtain a dial-in phone number and an access code. Please register using this link:

https://the-realreal-earnings-call-q1-2026.open-exchange.net/registration.

About The RealReal, Inc.

The RealReal is the world’s largest online marketplace for authenticated, resale luxury goods, trusted by more than 40 million members. Our full-service consignment model—offering virtual appointments, in-home pickup, drop-off, and direct shipping—enables consumers to buy and sell luxury across fashion, fine jewelry and watches, art, and home categories with ease. The company combines a rigorous, expert-led aut

real-202602260001573221falseTheRealReal, Inc.55 Francisco StreetSuite 400San FranciscoCA9413300015732212026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 26, 2026

The RealReal, Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware001-3895345-1234222 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)

55 Francisco Street Suite 400 San Francisco, CA 94133

(855) 435-5893 (Registrant’s Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s) Name of each exchange on which registered Common stock, $0.00001 par value REALThe Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition. On February 26, 2026, The RealReal, Inc. (“The RealReal”) issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits. (d) Exhibits

Exhibit Number Description 99.1Press Release dated February 26, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

The RealReal, Inc.

Date: February 26, 2026 By:/s/ Ajay Madan Gopal Ajay Madan Gopal Chief Financial Officer

real-202511100001573221falseTheRealReal, Inc.55 Francisco StreetSuite 400San FranciscoCA9413300015732212025-11-102025-11-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 10, 2025

The RealReal, Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware001-3895345-1234222 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)

55 Francisco Street Suite 400 San Francisco, CA 94133

(855) 435-5893 (Registrant’s Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s) Name of each exchange on which registered Common stock, $0.00001 par value REALThe Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition. On November 10, 2025, The RealReal, Inc. (“The RealReal”) issued a press release announcing its financial results for the quarter ended September 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits. (d) Exhibits

Exhibit Number Description 99.1Press Release dated November 10, 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

The RealReal, Inc.

Date: November 10, 2025 By:/s/ Ajay Madan Gopal Ajay Madan Gopal Chief Financial Officer

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