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Mar 31, 2024
RealReal Q1 2024 Earnings Report
The RealReal's Q1 2024 results were announced, featuring a return to top-line growth driven by consignment revenue and GMV increase.
Key Takeaways
The RealReal announced a return to overall top-line growth with GMV increasing 2% year-over-year and consignment revenue increasing 13% year-over-year. The company's net loss improved by $51 million year-over-year, and the adjusted EBITDA loss improved by $25 million year-over-year.
Gross Merchandise Value (GMV) increased 2% year-over-year.
Consignment revenue increased 13% year-over-year.
Net loss improved $51 million year-over-year.
Adjusted EBITDA loss improved by $25 million year-over-year.
RealReal
RealReal
RealReal Revenue by Segment
Revenue by Segment
Consignment Revenue
CapyFin.comDirect Revenue
CapyFin.comShipping Services Revenue
CapyFin.com Forward Guidance
For Q2 2024, GMV is projected to be between $420 and $450 million, total revenue between $135 and $145 million, and Adjusted EBITDA between $(6) and $(3) million. For the full year 2024, GMV is projected to be between $1.81 and $1.87 billion, total revenue between $580 and $605 million, and Adjusted EBITDA between $(5) and $8 million.
Positive Outlook
- GMV is projected between $420 and $450 million for Q2 2024.
- Total revenue is projected between $135 and $145 million for Q2 2024.
- Adjusted EBITDA is projected between $(6) and $(3) million for Q2 2024.
- Full year GMV is projected between $1.81 and $1.87 billion.
- Full year total revenue is projected between $580 and $605 million.
Challenges Ahead
- Adjusted EBITDA is projected between $(6) and $(3) million for Q2 2024, indicating a loss.
- Full year Adjusted EBITDA is projected between $(5) and $8 million, suggesting potential for loss or minimal profit.
- Guidance is based on market conditions as of May 7, 2024, and is subject to change.
- Forward-looking Adjusted EBITDA has not been reconciled to net income (loss).
- Ultimate outcome of certain components of reconciliations including payroll tax expense on employee stock transactions are not within their control.
Revenue & Expenses
Visualization of income flow from segment revenue to net income