← TheRealReal, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net loss | ($52.3m) | ($75.8m) | ($96.7m) | ($175.8m) | ($236.1m) | ($196.4m) | ($168.5m) | ($134.2m) | ($41.8m) | — | |
| Depreciation and amortization | $5.6m | $9.3m | $13.4m | $18.8m | $23.5m | $27.7m | $31.7m | $33.1m | $33.0m | $32.3m | |
| Stock-based compensation expense | $1.9m | $2.9m | $7.7m | $24.3m | $48.8m | $46.1m | $34.3m | $29.1m | $28.9m | $27.2m | |
| Stock-based compensation capitalized to proprietary software development costs | — | — | $0 | $0 | $1.4m | $1.6m | $777k | $504k | $318k | $27.2m | |
| Property, plant, equipment, and right-of-use asset impairments | $140k | $203k | $0 | $280k | $0 | $0 | $39.7m | $0 | $0 | — | |
| Accounts receivable | ($4.2m) | ($1.6m) | ($1.6m) | ($337k) | ($1.6m) | ($6.1m) | ($7.0m) | $767k | ($12.5m) | ($41k) | |
| Provision for inventory write-downs and shrinkage | — | — | — | — | $510k | $4.1m | $9.8m | $2.6m | $2.2m | — | |
| Inventory, net | ($3.9m) | ($3.7m) | ($13.2m) | ($20.4m) | ($28.7m) | $28.0m | $10.9m | ($3.7m) | ($9.5m) | ($9.2m) | |
| Accounts payable | ($88k) | ($2.6m) | $6.0m | $2.8m | ($10.0m) | $4.9m | ($425k) | $910k | $1.6m | ($1.0m) | |
| Accrued consignor payable | $10.5m | $6.6m | $17.6m | $4.2m | $14.0m | $10.5m | ($4.4m) | $11.5m | $21.8m | — | |
| Other accrued and current liabilities | $6.1m | $15.7m | $10.7m | $8.0m | $30.9m | ($9.8m) | ($464k) | $13.1m | $12.7m | — | |
| Prepaid expenses and other current assets | ($2.4m) | ($5.3m) | ($4.1m) | ($3.4m) | ($4.0m) | ($3.0m) | $2.0m | $701k | ($796k) | — | |
| Other assets | ($802k) | ($318k) | ($1.0m) | $548k | ($638k) | ($409k) | ($3.0m) | $76k | ($701k) | — | |
| Net cash provided by (used in) operating activities | ($38.6m) |
($47.2m)
-22.35%
|
($54.5m)
-15.46%
|
($134.4m)
-146.69%
|
($142.2m)
-5.75%
|
($91.6m)
+35.59%
|
($61.3m)
+33.08%
|
$26.8m
+143.82%
|
$37.0m
+37.86%
|
$53.8m
+45.48%
|
|
| Purchases of property and equipment | ($11.6m) | ($13.4m) | ($24.8m) | ($18.3m) | ($37.5m) | ($22.9m) | ($29.2m) | ($14.2m) | ($18.6m) | ($30.9m) | |
| Property and equipment additions not yet paid in cash | $196k | $158k | $1.8m | ($18.3m) | $1.9m | $13.9m | $1.8m | $1.8m | $3.5m | — | |
| Net cash used in investing activities | ($11.3m) | ($33.9m) | ($215.4m) | $178.0m | ($43.4m) | ($36.9m) | ($42.1m) | ($25.6m) | ($29.2m) | ($30.9m) | |
| Bad debt expense | $636k | $999k | $1.4m | $903k | $1.0m | $1.7m | $2.0m | $2.5m | $2.6m | — | |
| Accretion of debt discounts and issuance costs | — | $104k | $11k | $2.4m | $14.0m | $2.4m | $2.6m | $2.1m | $2.2m | — | |
| Gain on debt extinguishment | — | — | — | — | — | $0 | $0 | ($4.2m) | ($40.8m) | — | |
| Net decrease in principal amount of debt due to the 2024 Note Exchange and 2025 Note Exchange | — | — | — | — | — | $0 | $0 | ($17.2m) | ($42.7m) | — | |
| Net cash (used in) provided by financing activities | $46.7m |
$106.1m
+127.07%
|
$378.7m
+256.94%
|
$152.8m
-59.64%
|
$252.9m
+65.50%
|
$4.1m
-98.38%
|
$226k
-94.49%
|
($4.8m)
-2205.75%
|
($28.9m)
-506.64%
|
— | |
| Net decrease in cash, cash equivalents, and restricted cash | ($3.2m) | $25.0m | $108.8m | $196.4m | $67.3m | ($124.4m) | ($103.2m) | ($3.5m) | ($21.1m) | — | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Reduction of operating lease right-of-use assets | — | — | $0 | $16.1m | $19.4m | $19.6m | $16.7m | $15.2m | $16.1m | — | |
| Non-cash interest expense | — | — | — | — | — | $0 | $0 | $8.7m | $8.2m | — | |
| Issuance costs allocated to liability classified warrants | — | — | — | — | — | $0 | $0 | $374k | $0 | — | |
| Change in fair value of warrant liability | — | — | — | — | — | $0 | $0 | $68.2m | $35.8m | — | |
| Loss (gain) related to warehouse fire, net | — | — | — | — | — | $0 | $0 | $740k | ($95k) | — | |
| Other adjustments | — | — | ($226k) | ($86k) | $10k | $0 | $0 | ($165k) | ($39k) | — | |
| Operating lease liability | — | — | $0 | ($12.8m) | ($15.3m) | ($17.8m) | ($26.5m) | ($20.9m) | ($22.2m) | — | |
| Other noncurrent liabilities | $33k | $3.4m | $2.8m | ($166k) | $947k | $301k | ($172k) | $382k | $304k | — | |
| Insurance proceeds related to warehouse fire | — | — | — | — | — | $0 | $0 | $461k | $2.3m | — | |
| Capitalized proprietary software development costs | ($2.5m) | ($5.7m) | ($9.3m) | ($8.7m) | ($10.0m) | ($14.1m) | ($13.0m) | ($11.8m) | ($12.9m) | — | |
| Proceeds from exercise of stock options | — | — | — | — | $6.0m | $2.9m | $19k | $376k | $1.0m | — | |
| Proceeds from issuance of stock in connection with the Employee Stock Purchase Program | — | — | $0 | $972k | $2.3m | $1.4m | $886k | $1.4m | $1.7m | — | |
| Repayment of 2025 Notes | — | — | — | — | — | — | $0 | $0 | ($26.7m) | — | |
| Taxes paid related to restricted stock vesting | $22k | $49k | ($130k) | ($748k) | ($5k) | ($205k) | ($679k) | ($1.6m) | ($160k) | — | |
| Cash received from settlement of Capped Calls in conjunction with the Note Exchanges | — | — | — | — | — | $0 | $0 | $396k | $1.9m | — | |
| Issuance costs paid related to the Note Exchanges | — | ($545k) | — | — | — | $0 | $0 | ($5.3m) | ($6.5m) | — | |
| Beginning of period | $23.8m | $20.7m | $45.6m | $154.4m | $350.8m | $418.2m | $190.6m | $187.1m | $166.0m | — | |
| Cash paid for interest | $704k | $666k | $553k | $11k | $6.6m | $8.1m | $8.1m | $10.7m | $17.5m | — | |
| Cash paid for income taxes | $22k | $49k | $102k | $90k | $94k | $256k | $227k | $200k | $331k | — | |
| Capitalized proprietary software development costs not yet paid in cash | — | — | — | — | — | $1.6m | $1.1m | $654k | $978k | — | |
| Liability classified warrants issued in connection with the 2024 Note Exchange | — | — | — | — | — | $0 | $0 | $10.4m | $0 | — | |
| Tax withholding liability for restricted stock | — | — | $0 | $0 | $3k | $11k | $11k | $0 | $0 | — |