NASDAQ$REAL

RealReal Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

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

The RealReal announced Q2 2022 results, with GMV increasing 30% year-over-year and total revenue increasing 47% year-over-year. Net income was $(53.2) million, and Adjusted EBITDA improved to $(28.8) million.

  • GMV was $454 million, an increase of 30% compared to the same period in 2021.
  • Total Revenue was $154 million, an increase of 47% compared to the same period in 2021.
  • Net Loss was $53.2 million, compared to $71 million in the same period in 2021.
  • Adjusted EBITDA was $(28.8) million, compared to $(32.9) million in the second quarter of 2021.

Headline financials

Total Revenue

$154M

Previous: $105M+47.2%
EPS (adj)

-$0.40

Previous: -$0.50+20.0%
Gross Merchandise Value

$454M

Previous: $350M+29.7%
Active Buyers

889.0K

Previous: 730.0K+21.8%
Average Order Value

$486.00

Previous: $520.00-6.5%
Number of Orders

934.0K

Previous: 673.0K+38.8%
Take Rate

36.1%

Previous: 34.5%+4.6%
Capital Expenditures

-$9.6M

Previous: -$20.6M+53.5%
Free Cash Flow

-$62.8M

Previous: -$91.4M+31.3%
Net Income

-$53.2M

Previous: -$70.7M+24.8%
Operating Income

-$51M

Previous: -$64.8M+21.3%
Gross Profit

$87.7M

Previous: $63.4M+38.3%
Cash & Equivalents

$316M

Previous: $492M-35.7%
Total Assets

$648M

Previous: $797M-18.6%
Stock-Based Comp

$13.7M

Previous: $12.8M+6.6%

Revenue & EPS history

RealReal · Revenue · Quarterly

$154M

Q2 2022+47.2%vs Q2 2021
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

RealReal · $154M total across 3 segments · Q2 2022

  • Consignment
    $96.9M+17.5%
  • Direct
    $42.6M+89.9%
  • Shipping Services
    $14.9M

Forward guidance

Based on market conditions as of August 9, 2022, the company is providing guidance for Q3 and full year 2022 GMV, total revenue and Adjusted EBITDA.

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 2022

Historical avgQ2 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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