NASDAQ$REAL

RealReal Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported solid top-line growth and significant operating expense leverage.

The RealReal announced strong Q1 2022 results, exceeding expectations for both revenue and earnings. GMV increased by 31% year-over-year, and total revenue increased by 48% year-over-year. The company confirmed its full-year 2022 guidance.

  • Gross Merchandise Value (GMV) increased 31% year-over-year to $428 million.
  • Total Revenue increased 48% year-over-year to $147 million.
  • Net Loss was $57 million, compared to $56 million in the same period in 2021.
  • TTM active buyers reached 828,000, an increase of 21% compared to the same period in 2021.

Headline financials

Total Revenue

$147M

Previous: $98.8M+48.5%
EPS (adj)

-$0.47

Previous: -$0.49+4.1%
Gross Merchandise Value

$428M

Previous: $327M+30.8%
Active Buyers

828.0K

Previous: 687.0K+20.5%
Average Order Value

$487.00

Previous: $474.00+2.7%
Number of Orders

878.0K

Previous: 690.0K+27.2%
Take Rate

35.7%

Previous: 34.3%+4.1%
Capital Expenditures

-$5.14M

Previous: -$5.93M+13.2%
Free Cash Flow

-$62.6M

Previous: -$61.9M-1.0%
Net Income

-$57.4M

Previous: -$56M-2.5%
Operating Income

-$54.7M

Previous: -$52.8M-3.7%
Gross Profit

$78.6M

Previous: $58.3M+34.8%
Cash & Equivalents

$361M

Previous: $548M-34.1%
Total Assets

$698M

Previous: $831M-15.9%
Stock-Based Comp

$12.5M

Previous: $10.9M+14.6%

Revenue & EPS history

RealReal · Revenue · Quarterly

$147M

Q1 2022+48.5%vs Q1 2021
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

RealReal · $147M total across 2 segments · Q1 2022

  • Consignment
    $97.9M+30.4%
  • Direct
    $48.8M+105.7%

Forward guidance

The company provided guidance for Q2 and confirmed full year 2022 guidance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-2.0%

Avg return

Earnings day

+2.3%

Avg return

5 days after

-0.3%

Avg return

30 days after

33%

9 / 27 earnings

Positive

+61.4%

Q4 2023

Best reaction

-30.6%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.1%-28.2%-31.8%
Q4 2025-1.5%-2.1%-30.8%
Q3 2025+37.7%+23.6%+27.2%
Q1 2025-30.6%-21.8%-21.7%
Q4 2024-18.8%-0.5%-31.5%
Q3 2024+22.4%+25.8%+105.7%
Q2 2024-23.2%-21.0%-26.5%
Q1 2024-3.1%-1.9%-10.0%
Q4 2023+61.4%+118.1%+128.7%
Q3 2023+25.8%+30.8%+43.4%
Q2 2023+12.1%+17.0%+19.3%
Q1 2023-10.6%-18.2%+24.1%
Q4 2022+11.2%+21.6%-11.9%
Q3 2022-15.8%+18.0%+9.4%
Q2 2022-14.1%-19.4%-40.7%
Q1 2022-25.4%-18.7%-33.4%
Q4 2021-0.9%+11.7%-1.6%
Q3 2021+19.4%+21.1%+3.4%
Q2 2021-18.6%-18.4%-27.5%
Q1 2021-27.9%-36.6%-17.2%
Q4 2020-12.0%-9.5%-25.4%
Q3 2020-9.1%-14.9%-4.5%
Q2 2020+1.9%+12.3%+3.8%
Q1 2020+5.7%+5.7%+19.1%
Q4 2019+0.0%-6.4%-48.8%
Q3 2019-15.5%-23.0%-24.4%
Q2 2019-20.1%-3.6%-5.4%
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018

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