NASDAQ$REAL

RealReal Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Announced solid financial results driven by strong top-line growth and operating expense leverage.

The RealReal reported a 67% increase in total revenue to $145 million and a 45% increase in GMV to $437 million for Q4 2021. The company's net loss was $52 million, and non-GAAP net loss per share was $(0.42).

  • GMV increased 45% year-over-year.
  • Total revenue increased 67% year-over-year.
  • Net loss was $52 million compared to $51 million in the same period in 2020
  • TTM active buyers reached 797,000, an increase of 23% compared to the same period in 2020

Headline financials

Total Revenue

$145M

Previous: $84.6M+71.6%
EPS (adj)

-$0.42

Previous: -$0.49+14.3%
Gross Merchandise Value

$437M

Previous: $301M+45.1%
Active Buyers

797.0K

Previous: 648.9K+22.8%
Average Order Value

$508.00

Previous: $449.00+13.1%
Number of Orders

861.0K

Previous: 671.3K+28.3%
Capital Expenditures

$7.17M

Previous: $2.57M+179.1%
Free Cash Flow

-$25.9M

Previous: -$41M+36.7%
Net Income

-$52M

Previous: -$53M+1.9%
Operating Income

-$46.2M

Previous: -$50.6M+8.7%
Gross Profit

$80.6M

Previous: $51.1M+57.7%
Cash & Equivalents

$418M

Previous: $351M+19.2%
Total Assets

$755M

Previous: $605M+24.8%
Stock-Based Comp

$12.5M

Previous: $7.41M+68.4%

Revenue & EPS history

RealReal · Revenue · Quarterly

$145M

Q4 2021+71.6%vs Q4 2020
Beat estimate in 7 of 14 quarters(50%)
ActualEstimate

Revenue by segment

RealReal · $145M total across 2 segments · Q4 2021

  • Consignment
    $99.9M+44.6%
  • Direct
    $45.3M+191.8%

Forward guidance

The RealReal provided guidance for Q1 and full year 2022, projecting GMV of $410 - $425 million and $2.0 - $2.1 billion, total revenue of $130 - $140 million and $635 - $665 million, and Adjusted EBITDA of $(39) - $(35) million and $(100) - $(80) million, respectively. They project that The RealReal will be Adjusted EBITDA positive for full year 2024.

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 Q4 2021

Historical avgQ4 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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