The RealReal is the largest pure-play luxury resale platform in the US, generating $1.8 billion in 2024 gross merchandise volume and addressing a niche (personal luxury resale) that had previously been serviced by inefficient upscale boutiques and local pawn shops. The company generates revenue via consignment and first-party sales on its online marketplace, and through a small volume of direct sales. With a hands-on approach that actively sources inventory and authenticates every item on its platform, The RealReal is able to justify much higher take rates than peers, working out to roughly 36% of net merchandise value in 2024, which excludes returns, cancellations, and first-party sales.
2011
3.0K+
LTM Revenue $616M
LTM EBITDA $14.5M
$949M
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The RealReal has a last 12-month revenue of $616M and a last 12-month EBITDA of $14.5M.
In the most recent fiscal year, The RealReal achieved revenue of $600M and an EBITDA of -$79.4M.
The RealReal expects next 12-month revenue of XXX   and NTM EBITDA of XXX
See The RealReal valuation multiples based on analyst estimatesFY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
---|---|---|---|---|---|
Revenue | $549M | $600M | XXX | XXX | XXX |
Gross Profit | $349M | $376M | XXX | XXX | XXX |
Gross Margin | 63% | 63% | XXX | XXX | XXX |
EBITDA | -$126M | -$79.4M | XXX | XXX | XXX |
EBITDA Margin | -23% | -13% | XXX | XXX | XXX |
Net Profit | -$196M | -$168M | XXX | XXX | XXX |
Net Margin | -36% | -28% | XXX | XXX | XXX |
Net Debt | $156M | $277M | XXX | XXX | XXX |
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As of April 15, 2025, The RealReal's stock price is $5.
The RealReal has current market cap of $575M, and EV of $949M.
See The RealReal trading valuation dataEV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
---|---|---|---|---|---|---|
$949M | $575M | XXX | XXX | XXX | XXX | $-0.33 |
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Sign UpAs of April 15, 2025, The RealReal has market cap of $575M and EV of $949M.
The RealReal's trades at 1.5x LTM EV/Revenue multiple, and 65.5x LTM EBITDA.
Analysts estimate The RealReal's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for The RealReal and 10K+ public compsFY 2024 | FY 2025E | FY 2026E | FY 2027E | |
---|---|---|---|---|
EV | $949M | XXX | XXX | XXX |
EV/Revenue | 1.6x | XXX | XXX | XXX |
EV/EBITDA | -12.0x | XXX | XXX | XXX |
P/E | -4.3x | XXX | XXX | XXX |
P/E/Growth | n/a | XXX | XXX | XXX |
EV/FCF | 1189.8x | XXX | XXX | XXX |
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Sign UpThe RealReal's NTM/LTM revenue growth is 9%
The RealReal's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, The RealReal's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate The RealReal's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for The RealReal and other 10K+ public compsFY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
---|---|---|---|---|---|
Revenue Growth | 9% | XXX | XXX | XXX | XXX |
EBITDA Margin | -13% | XXX | XXX | XXX | XXX |
EBITDA Growth | -37% | XXX | XXX | XXX | XXX |
Rule of 40 (SaaS-only) | -4% | XXX | XXX | XXX | XXX |
Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
S&M Expenses to Revenue | 9% | XXX | XXX | XXX | XXX |
G&A Expenses to Revenue | 31% | XXX | XXX | XXX | XXX |
R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
Opex to Revenue | 84% | XXX | XXX | XXX | XXX |
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EV/Revenue | EV/EBITDA | |||||
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2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
Prosus | XXX | XXX | XXX | XXX | XXX | XXX |
Just Eat Takeaway.com | XXX | XXX | XXX | XXX | XXX | XXX |
Marti Technologies | XXX | XXX | XXX | XXX | XXX | XXX |
Airtasker | XXX | XXX | XXX | XXX | XXX | XXX |
Articore Group | XXX | XXX | XXX | XXX | XXX | XXX |
XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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The RealReal acquired XXX companies to date.
Last acquisition by The RealReal was XXXXXXXX, XXXXX XXXXX XXXXXX . The RealReal acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiplesAcquired Company | EV | EV/Revenue | EV/EBITDA |
---|---|---|---|
XXXXXXXXX | XXX | XXX | XXX |
XXXXXXXXX | XXX | XXX | XXX |
XXXXXXXXX | XXX | XXX | XXX |
XXXXXXXXX | XXX | XXX | XXX |
XXXXXXXXX | XXX | XXX | XXX |
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Sign UpWhen was The RealReal founded? | The RealReal was founded in 2011. |
Where is The RealReal headquartered? | The RealReal is headquartered in United States of America. |
How many employees does The RealReal have? | As of today, The RealReal has 3.0K+ employees. |
Who is the CEO of The RealReal? | The RealReal's CEO is Ms. Rati Sahi Levesque. |
Is The RealReal publicy listed? | Yes, The RealReal is a public company listed on NAS. |
What is the stock symbol of The RealReal? | The RealReal trades under REAL ticker. |
When did The RealReal go public? | The RealReal went public in 2019. |
Who are competitors of The RealReal? | Similar companies to The RealReal include e.g. Prosus, Just Eat Takeaway.com, Marti Technologies, Airtasker. |
What is the current market cap of The RealReal? | The RealReal's current market cap is $575M |
What is the current revenue of The RealReal? | The RealReal's last 12-month revenue is $616M. |
What is the current EBITDA of The RealReal? | The RealReal's last 12-month EBITDA is $14.5M. |
What is the current EV/Revenue multiple of The RealReal? | Current revenue multiple of The RealReal is 1.5x. |
What is the current EV/EBITDA multiple of The RealReal? | Current EBITDA multiple of The RealReal is 65.5x. |
What is the current revenue growth of The RealReal? | The RealReal revenue growth between 2023 and 2024 was 9%. |
Is The RealReal profitable? | Yes, The RealReal is EBITDA-positive (as of the last 12 months). |
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