Credit and interest ratespositive · 4 filings
“The increase was due to the full-quarter impact of the 2031 Notes in the current quarter compared to a partial quarter of interest expense in the prior period.”10-Q · May 7, 2026 ↗
The RealReal, Inc.
REAL
Market read
No connected market move is active around The RealReal, Inc..
No new filing conclusion is available. 0 of 0 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Company+1.4% todayVolume comparison unavailable
Market groupNo active group readNo durable group available
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- REAL's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if REAL's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 0 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- REAL's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations333
Usable filing statements111
Verified relationships1
Evidence supporting the case
- Latest annual revenue changed +15.4% year over year.
- Operating margin changed +6.0 percentage points in the latest annual period.
- Net margin changed +16.3 percentage points in the latest annual period.
- Demand and volume has repeated favorable evidence across 4 filings.
Evidence challenging the case
- Diluted shares increased 8.0% in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 30, 2026
8.846m-4.2%12m-15.5%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$467.7M+55.9%$-2.58+4.4%
2022-12-31$603.5M+29.0%$-2.05+4.9%
2023-12-31$549.3M-9.0%$-1.65+6.1%
2024-12-31$600.5M+9.3%$-1.24+6.0%
2025-12-31$692.8M+15.4%$-0.70+8.0%
What management says matters
Persistent and emerging business drivers
Demand and volumemixed · 4 filings
“2026 2025 Amount % (In thousands, except percentage) Cost of shipping services revenue $ 12,650 $ 11,821 $ 829 7 % 31 Table of Contents Cost of shipping services revenue increased by $0.8 million, or 7% in the three months ended March 31, 2026 compared to the…”10-Q · May 7, 2026 ↗
Pricing and mixpositive · 1 filings
“The increase was primarily attributable to the increase in direct revenue compared to the prior year, partially offset by improved sell-through and less discounting.”10-K · Feb 26, 2026 ↗
Restructuring and cost reductionsnegative · 1 filings
“The increase was primarily due to higher employee costs and employee severance related costs, partially offset by a decrease in legal fees.”10-Q · Nov 10, 2025 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
8.91+1.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 1 Oct, 15:45 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for REAL. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for REAL. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind REAL
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
WWayfair Inc.competitorMay 7, 2026 ▾
“Wayfair, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
REAL is currently a Follower in the organic co-movement group Unknown Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for REAL; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.