Therealreal SEC Filings

TheRealReal, Inc. Chief Accounting Officer Steve Ming Lo reported the disposition of 12,077 shares of common stock at $9.25 per share. According to the footnote, these shares were automatically sold by the company to cover withholding taxes due upon the vesting of an equity award, making this a routine tax-related transaction rather than a discretionary open-market sale.

TheRealReal, Inc. Chief Legal Officer Todd A. Suko reported selling a total of 17,353 shares of common stock on May 21, 2026 at $9.25 per share in open-market transactions. A portion of the shares was automatically sold by the company to cover withholding taxes tied to an equity award vesting. Following these transactions, Suko directly holds 605,394 shares of TheRealReal common stock, indicating the sales represent a small part of his overall equity position.

TheRealReal, Inc. Chief Product & Tech Officer Luke Thomas Friang reported dispositions of 21,183 shares of common stock on May 21, 2026 at $9.25 per share. A footnote explains these shares were automatically sold by The RealReal to cover withholding taxes tied to the vesting of an equity award, indicating this was a tax-related, non-discretionary event rather than an open-market portfolio decision. After these transactions, Friang continues to hold a direct position of more than 500,000 shares of common stock.

TheRealReal, Inc. Chief Executive Officer Rati Sahi Levesque reported transactions in the company’s common stock tied to equity compensation. A total of 81,194 shares were sold at $9.25 per share. According to the disclosure, these shares were automatically sold by TheRealReal to cover withholding taxes due upon the vesting of an equity award, rather than as a discretionary open-market trade by the executive.

The RealReal, Inc. filed a shelf registration statement on May 8, 2026 to register an unspecified aggregate offering of common stock, preferred stock, debt securities, depositary shares, warrants, purchase contracts and units to be offered from time to time after this registration statement becomes effective. The prospectus permits sales by the company and by certain selling securityholders identified in future prospectus supplements; specific offering sizes, prices and terms will be provided in those supplements. The registration statement incorporates the company’s SEC reports by reference and notes the Nasdaq listing of common shares under the symbol REAL. The prospectus explains plan of distribution alternatives, certain anti-takeover charter and bylaw provisions, and investor risk factors incorporated from the company’s 2025 Form 10-K.

The RealReal, Inc. reported higher sales and an operating turnaround for the three months ended March 31, 2026. Total revenue reached $189.7 million, up from $160.0 million, driven mainly by consignment revenue of $145.9 million and direct revenue of $25.8 million. Gross profit rose to $141.3 million.

Net income attributable to common stockholders was $38.9 million versus $62.4 million a year earlier, heavily influenced by a $47.3 million non‑cash gain from the change in fair value of warrant liabilities and the absence of the prior year’s $37.1 million gain on debt extinguishment. Adjusted EBITDA improved to $13.1 million from $4.1 million, reflecting better underlying profitability.

GMV increased to $606.4 million and average order value rose to $646, while the take rate declined to 36.4% from 38.6% due to sales mix. Despite accounting profit, cash used in operating activities was $16.6 million, and cash and cash equivalents were $124.0 million as of March 31, 2026. The company remained highly leveraged, with total liabilities of $745.3 million and a stockholders’ deficit of $359.4 million, though the deficit narrowed from the prior year‑end.

The RealReal, Inc. reported strong first quarter 2026 growth, with gross merchandise value of $606 million, up 24% year over year, and total revenue of $189.7 million, up 19% from the first quarter of 2025. Consignment revenue rose 18% and direct revenue grew 26%, while gross profit increased to $141.3 million.

Adjusted EBITDA improved to $13.1 million, or 6.9% of revenue, compared to $4.1 million, or 2.6%, a year earlier. GAAP net income attributable to common stockholders was $38.9 million, or $0.33 per basic share, down from $62.4 million, largely reflecting prior-year gains that did not recur. Active buyers over the trailing twelve months increased 10% to 1.083 million, and average order value reached $646, up 15%.

For the second quarter of 2026, the company guides to GMV of $590–$600 million, revenue of $186–$189 million and Adjusted EBITDA of $11–$12 million. Full-year 2026 guidance calls for GMV of $2.42–$2.47 billion, revenue of $770–$784 million and Adjusted EBITDA of $59–$67 million.

NIKI LEONDAKIS filed a Form 144 notice reporting a proposed sale of 12,945 shares of Common Stock via stock option exercise to be effected on 04/27/2026. The filing also reports 7,055 shares sold on 04/24/2026 for $87,270.35.

The RealReal, Inc. is asking stockholders to vote at its June 10, 2026 virtual annual meeting on electing three Class I directors, ratifying KPMG as auditor, approving executive pay on an advisory basis, and three charter amendments on board structure and governance.

The charter changes would phase out the classified board, extend Delaware-permitted liability limits to certain officers, and eliminate supermajority voting requirements. The proxy also details 2025 performance, including Adjusted EBITDA of $42 million, over $2 billion in gross merchandise value, and an active buyer base above 1 million.