NASDAQ$REAL

RealReal Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported strong growth with the highest quarterly gross merchandise volume (GMV) to date.

The RealReal announced strong second-quarter results, with GMV increasing by 91% year-over-year to $350 million and total revenue increasing by 83% year-over-year to $105 million. The company also achieved its highest quarterly additions of both new and repeat consignors to its marketplace.

  • GMV increased 91% year-over-year to $350.0 million.
  • Total revenue increased 83% year-over-year to $104.9 million.
  • Gross profit per order improved $9 quarter-over-quarter to $94 per order.
  • The company resumed at-home concierge appointments, with overall units per appointment exceeding pre-COVID levels.

Headline financials

Total Revenue

$105M

Previous: $57.4M+82.8%
EPS (adj)

-$0.50

Previous: -$0.42-19.0%
Gross Merchandise Value

$350M

Previous: $183M+91.5%
Active Buyers

730.0K

Previous: 612+119181.0%
Average Order Value

$520.00

Previous: $417.00+24.7%
Number of Orders

673.0K

Previous: 438.4K+53.5%
Take Rate

34.5%

Previous: 36.0%-4.2%
Capital Expenditures

-$20.6M

Previous: -$10.9M-90.1%
Free Cash Flow

-$91.4M

Previous: -$53.8M-70.0%
Net Income

-$70.7M

Previous: -$42.9M-64.9%
Operating Income

-$64.8M

Previous: -$43M-50.8%
Gross Profit

$63.4M

Previous: $35.8M+77.3%
Cash & Equivalents

$492M

Previous: $304M+61.5%
Total Assets

$797M

Previous: $634M+25.6%
Stock-Based Comp

$12.8M

Previous: $6.13M+109.1%

Revenue & EPS history

RealReal · Revenue · Quarterly

$105M

Q2 2021+82.8%vs Q2 2020
Beat estimate in 7 of 12 quarters(58%)
ActualEstimate

Revenue by segment

RealReal · $105M total across 2 segments · Q2 2021

  • Consignment
    $82.5M+75.9%
  • Direct
    $22.5M+113.4%

Forward guidance

The company believes the strength of the current trends in the business will continue for the balance of this year and into next year.

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 Q2 2021

Historical avgQ2 2021

-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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