REAL

The RealReal, Inc.

The RealReal, Inc. is classed by the SEC under Retail-Miscellaneous Retail (industry code 5900), based in San Francisco, CA. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $693 million and a loss of $42 million (its filed statements).

Retail business Retail-Miscellaneous Retail San Francisco, CA filings since 2013 9 of 9 filed

Sector peers: LIVEPLBYTMSSPH

4.8/10headline grade
vs its business-model standard

Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a retail business: prior from its industry code (SEC 5900, Retail-Miscellaneous Retail); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.

The grade, in three tenses

Headline 4.8 out of ten, 9 of 9 metrics filed: past 3.5 out of ten, present 4.8 out of ten, future 6.0 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

  • Surviving crises (past): 2.7 out of ten. 1 warning event since 2017; the latest 2020-06-22. 27th percentile among 13 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Track record (past): 5.3 out of ten. +22.4% a year over 9 filed years; profitable in 0 of 9. 53rd percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Shareholder treatment (past): 2.6 out of ten. Share count grew 6.7% a year. 0% of cash flow returned. Insiders: 80 sales, 0 purchases. 26th percentile among 7 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Financial health (present): 5.5 out of ten. Leverage 202%: owes 202¢ per asset dollar. 55th percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Industry position (present): 4.9 out of ten. bottom 49% of 12 in its family; net margin -6%. 49th percentile among 12 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Leadership (present): 3.2 out of ten. bottom 32% of 7 in its family for leadership; chief executive since 2024. 32nd percentile among 7 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
  • Room to expand (future): 7.4 out of ten. top 26% of 12 in its family for room to expand. 74th percentile among 12 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Growth drivers (future): 4.2 out of ten. bottom 42% of 11 in its family for growth drivers. 42nd percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Expectations vs reality (future): 7.5 out of ten. top 25% of 10 in its family for expectations against reality. 75th percentile among 10 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 10-K filed 2026-02-26 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-06 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-06 (on EDGAR). Newest filing: Form 4, 2026-10-01. Filings on record since 2013. Read from EDGAR 2026-10-12.

Where the revenue comes from

Product and service lines in fiscal 2025: Service 77%, Product 13%, Shipping and Handling 10%. As tagged in its annual report (Form 10-K, filed 2026-02-26).

Who runs it

Sahi, Levesque Rati (Chief Executive Officer); Madan, Gopal Ajay (Chief Financial Officer); Friang, Luke Thomas (Chief Product & Tech Officer); Lo, Steve Ming (Chief Accounting Officer); Suko, Todd A (Chief Legal Officer and Secret); Lynch, Chatelle Aileen (Chief People Officer); Katz, Karen (director); Mccaffrey, Mark (director); Coleman, Caretha (director); Krolik, Robert J (director); and 4 more. 14 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-01.

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