Loading...
•
Mar 31
RealReal Q1 2025 Earnings Report
Reported strong first quarter 2025 results with revenue increasing 11% year-over-year and significant improvement in net income and adjusted EBITDA.
Key Takeaways
The RealReal delivered a strong first quarter in 2025, exceeding expectations with an 11% increase in total revenue and a substantial improvement in net income, driven partly by non-cash gains. The company also saw a significant positive shift in Adjusted EBITDA and reaffirmed its full-year guidance, indicating confidence in its strategic execution and ability to navigate market uncertainties.
Q1 2025 revenue was $160 million, an 11% increase compared to Q1 2024.
Net income for Q1 2025 was $62 million, a significant improvement from a loss of $31 million in Q1 2024.
Adjusted EBITDA improved to $4.1 million in Q1 2025 from a loss of $2.3 million in Q1 2024.
Gross merchandise value (GMV) increased by 9% to $490 million in Q1 2025 compared to the same period last year.
RealReal
RealReal
RealReal Revenue by Segment
Revenue by Segment
Consignment Revenue
CapyFin.comDirect Revenue
CapyFin.comShipping Services Revenue
CapyFin.com Forward Guidance
The company reaffirmed its full-year 2025 guidance, indicating confidence in its performance despite market uncertainties.
Positive Outlook
- Reaffirming full year 2025 guidance.
- Occupies a unique position at the intersection of luxury and value.
- Sources supply primarily from domestic closets.
- Potential to realize benefits in the current environment.
- Strategy is working with a strong brand and flexible operations.
Challenges Ahead
- Uncertainties from tariffs.
- Less predictable backdrop.
- Cannot predict with reasonable certainty ultimate outcome of certain reconciliation components for Adjusted EBITDA.
- Unable to assess probable significance of unavailable information for Adjusted EBITDA reconciliation.
- Could materially impact the amount of future net income (loss).
Revenue & Expenses
Visualization of income flow from segment revenue to net income