REAL
Therealreal, Inc. Consumer Discretionary Retail-Miscellaneous Retail Russell 3000
$11.96Close
$1.4BMarket cap
$8.12 – $16.9052-week range
Late-januaryNext report · estimated
Highlights
Cautions
- Not in an uptrend 3 of 8 trend conditions
- Lagging the market RS 33 · weaker than 67% of stocks over 12 months
- Far from its high 29% below its 52-week high
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
29%
1wk
up 10.3%
price change
1mo
up 35.3%
price change
12-month return
down 2%
market up 11% ·
its own down 14%
F-score
4 / 9
Weak
Altman Z″
-11.84
Elevated risk
P/E
0.0×
price / earnings
PEG
—
P/E / EPS growth
P/B
—
price / book
Earnings yield
down 1.7%
EBIT / enterprise value
Cheaper than
24%
of the market · expensive
Revenue growth
up 15%
year on year
EPS growth
—
latest quarter
Sales growth
up 19%
latest quarter · +2 pts
ROE
—
return on equity
Free cash margin
up 3%
$18.4M FCF
D/E
—
long-term debt / equity
Net debt / EBITDA
-1.1×
net cash
Interest cover
—EBIT / interest
Piotroski tests
- profitability slipped from last year
- profits not fully backed by cash
- took on more long-term debt
- short-term liquidity weakened
- issued more shares
- profitable on its assets
- generating cash from operations
- gross margin widened
- assets working harder
Trade setup
ATR%
5.1%
$0.61 a day · 2×ATR $10.75
RS
33 / 99
vs the universe
Trend
3 / 8
trend template
Relative volume
3.4×
vs 50-day average
Up/down volume
1.00
50 sessions
Implied move
—
no scheduled report
Trend template · 3 of 8
- Price above the 150 and 200-day averages: passes
- 150-day average above the 200-day: fails
- 200-day average rising for a month: fails
- 50-day average above the 150 and 200-day: fails
- Price above the 50-day average: passes
- At least 30% above the 52-week low: passes
- Within 25% of the 52-week high: fails
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Liabilities exceed assets Shareholders' equity is negative at -$415.5M as of Dec 31, 2025. What is left for shareholders after creditors is, on the balance sheet, less than nothing.
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Shareholders diluted The share count rose 6.4% over the year, from 111m to 118m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
- Profit not backed by cash Reported profit of $41.8B came with $37.0M of operating cash flow. Profit that cash does not follow is the classic signature of aggressive accounting.
Last reported
Oct 29, 2026
Results reaction
Oct 29, 2026+10% vs market2 sessions after results
Financials
- Gross 75%
- Net 6033%
- Free cash 3%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $299.9M | $467.7M | $603.5M | $549.3M | $600.5M | $692.8M |
| Gross margin | 63% | 58% | 58% | 69% | 75% | 75% |
| Operating income | -$172.8M | -$214.9M | -$189.2M | -$166.3M | -$56.5M | -$23.9M |
| Net income | -$175.8M | $236.1B | $196.4B | $168.5B | $134.2B | $41.8B |
| Net margin | -59% | 50483% | 32551% | 30670% | 22349% | 6033% |
| Earnings per share | -$2.01 | $2,582.96 | $2,047.98 | $1,654.83 | $1,244.01 | $358.75 |
| Free cash flow | -$152.7M | -$179.6M | -$114.4M | -$90.4M | $12.6M | $18.4M |
| Free cash margin | -51% | -38% | -19% | -16% | 2% | 3% |
| Cash | $350.8M | $418.2M | $293.8M | $175.7M | $172.2M | $151.2M |
| Long-term debt | $195.8M | — | — | $0 | $134.5M | $141.0M |
| Shareholders' equity | $191.3M | $73.1M | -$170.1M | -$303.3M | -$407.4M | -$415.5M |
| Shares outstanding | 89.30m | 92.96m | 99.09m | 104.67m | 111.24m | 118.32m |
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 29, 2026 | Quarterly ↗ | Sep 30, 2026 | 29d |
| Aug 6, 2026 | Quarterly ↗ | Jun 30, 2026 | 37d |
| May 7, 2026 | Quarterly ↗ | Mar 31, 2026 | 37d |
| Feb 26, 2026 | Annual ↗ | Dec 31, 2025 | 57d |
| Nov 10, 2025 | Quarterly ↗ | Sep 30, 2025 | 41d |
| Aug 7, 2025 | Quarterly ↗ | Jun 30, 2025 | 38d |
| May 8, 2025 | Quarterly ↗ | Mar 31, 2025 | 38d |
| Feb 21, 2025 | Annual ↗ | Dec 31, 2024 | 52d |
| Nov 4, 2024 | Quarterly ↗ | Sep 30, 2024 | 35d |
| Aug 6, 2024 | Quarterly ↗ | Jun 30, 2024 | 37d |
| May 7, 2024 | Quarterly ↗ | Mar 31, 2024 | 37d |
| Mar 1, 2024 | Annual ↗ | Dec 31, 2023 | 61d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 29, 2026 | Results ↗ |
| Oct 15, 2026 | Material agreement · New obligation · Regulation FD ↗ |
| Aug 6, 2026 | Results ↗ |
| Jun 12, 2026 | Shareholder vote ↗ |
| May 7, 2026 | Results ↗ |
| Mar 9, 2026 | Director or officer change · Regulation FD ↗ |
| Feb 26, 2026 | Results ↗ |
| Nov 18, 2025 | Director or officer change ↗ |
| Nov 10, 2025 | Results ↗ |
| Aug 21, 2025 | New obligation · Unregistered share sale ↗ |
| Aug 7, 2025 | Results ↗ |
| Jul 18, 2025 | Director or officer change ↗ |