NASDAQ$REAL

RealReal Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Top-line growth was reported and operating expense leverage continued to be delivered.

The RealReal announced Q3 2022 results, with both GMV and total revenue increasing by 20% year-over-year. The company narrowed its Adjusted EBITDA loss and improved Adjusted EBITDA margin compared to the prior year.

  • GMV increased 20% year-over-year.
  • Total revenue increased 20% year-over-year.
  • Net loss was $(47.3) million, an improvement from $(57.2) million in the same period in 2021.
  • Cash & Cash Equivalents at Quarter-End was $300 million

Headline financials

Total Revenue

$143M

Previous: $119M+20.1%
EPS (adj)

-$0.38

Previous: -$0.47+19.1%
Gross Merchandise Value

$441M

Previous: $368M+19.8%
Active Buyers

950.0K

Previous: 772.0K+23.1%
Average Order Value

$463.00

Previous: $486.00-4.7%
Number of Orders

952.0K

Previous: 757.0K+25.8%
Take Rate

36.0%

Previous: 34.9%+3.2%
Capital Expenditures

-$16.4M

Previous: -$30.3M+45.9%
Free Cash Flow

-$63.7M

Previous: -$87.5M+27.2%
Net Income

-$47.3M

Previous: -$57.2M+17.4%
Operating Income

-$45.5M

Previous: -$51.2M+11.0%
Gross Profit

$85.8M

Previous: $71.1M+20.6%
Cash & Equivalents

$300M

Previous: $445M-32.5%
Total Assets

$634M

Previous: $771M-17.8%
Stock-Based Comp

$10.8M

Previous: $12.6M-13.9%

Revenue & EPS history

RealReal · Revenue · Quarterly

$143M

Q3 2022+20.1%vs Q3 2021
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

RealReal · $143M total across 3 segments · Q3 2022

  • Consignment
    $93.9M+4.9%
  • Direct
    $34M+15.7%
  • Shipping Services
    $14.8M

Forward guidance

For Q4 2022, the company projects GMV between $480 and $510 million and total revenue between $145 and $165 million. Adjusted EBITDA is expected to be between $(27) and $(23) million.

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 Q3 2022

Historical avgQ3 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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