UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 001-38953 _________ ...

The RealReal, Inc. (NASDAQ:REAL) Q4 2022 Earnings Conference Call February 28, 2023 5:00 PM ET Company Participants Caitlin Howe - Senior Vice President of Investor Relations Rati Levesque - President and Chief Operating Officer Robert Julian - Chief Financial Officer John Koryl - Chief Executive Officer Conference Call Participants Anna Andreeva - Needham & Company Mark Altschwager - Robert W. Baird Blake Anderson - Jefferies Kunal Madhukar - UBS Noah Zatzkin - KeyBanc Capital Markets Marvin Fong - BTIG Na ...

11 Q4 and FY 2022 EARNINGS PRESENTATION Q4 and FY 2022 Earnings Presentation 2022 Investor Presentation Top-line growth with improved Adjusted EBITDA losses in Q4 2022: +13% GMV and +10% Revenue growth versus Q4 2021 In Q4, high-gross margin Consign revenue growth (+27%) outpaced lowmargin Direct revenue growth (-27%), resulting in improved gross margin of 60.5% (+490 bpts Y/Y) Safe Harbor/Disclosure Statement These materials contain forward-looking statements relating to, among other things, the future per ...

Financial Performance - Total revenue for 2022 was $603.5 million, representing a 29% increase from $467.7 million in 2021[169] - Gross merchandise value (GMV) increased to $1.8 billion in 2022 from $1.5 billion in 2021, reflecting a growth of approximately 21%[169] - Consignment revenue reached $385.0 million in 2022, up 27.4% from $302.2 million in 2021[214] - Direct revenue rose by $37.9 million, or 31%, in 2022 compared to 2021, primarily due to the sell-through of company-owned inventory[218] - Shipping services revenue increased by $15.2 million, or 34%, in 2022 compared to 2021, attributed to higher shipping rates and a 26% increase in order fulfillment[219] - The net loss for 2022 was $196.4 million, compared to a net loss of $236.1 million in 2021[214] - Adjusted EBITDA for 2022 was a loss of $112.5 million, compared to a loss of $126.9 million in 2021[200] Customer Metrics - The number of active buyers reached 998,000 in 2022, up from 797,000 in 2021[186] - Repeat buyers accounted for 84.0% of GMV in 2022, slightly up from 83.9% in 2021[186] - Active buyers metric reflects scale and engagement, with a focus on increasing repeat buyers[195] Operational Efficiency - The take rate on consigned goods increased to 36.0% in 2022 from 34.7% in 2021, attributed to a higher sales mix of categories with larger take rates[168] - The marketplace sell-through ratio was 91% in 2022, down from 94% in 2021[175] - Total operating expenses for 2022 were $537.9 million, an increase from $488.4 million in 2021[214] - Total operating expenses decreased to $90 million in 2022 from $104 million in 2021, reflecting a reduction in legal settlement costs and improved operational efficiency[226] Expense Management - The company plans to reduce operating expenses by terminating approximately 230 employees, representing about 7% of its workforce[171] - Operations and technology expenses rose by $43.3 million, or 18%, in 2022 compared to 2021, driven by higher employee compensation and shipping costs[229] - Selling, general and administrative expenses increased by $18.7 million, or 11%, in 2022 compared to 2021, with a decrease in percentage of revenue to 33% from 38%[231][232] - Legal settlement expenses decreased by $12.9 million, or 97%, in 2022 compared to 2021, due to prior year accruals related to a shareholder class action[236][237] Cash Flow and Capital Requirements - As of December 31, 2022, the company had cash and cash equivalents of $293.8 million and an accumulated deficit of $951.2 million[245] - Net cash used in operating activities for 2022 was $91.6 million, resulting from a net loss of $196.4 million adjusted by non-cash charges of $98.2 million[251] - Net cash used in investing activities in 2022 was $36.9 million, including $22.9 million for property and equipment purchases and $14.1 million for capitalized software costs[252] - Future capital requirements will depend on revenue growth and timing of investments, with existing cash expected to meet obligations for at least the next 12 months[246] - The company expects operating losses and negative cash flows to continue in the foreseeable future[245] Interest and Marketing Expenses - Interest income surged by $2.8 million, or over 100%, in 2022 compared to 2021, primarily due to higher average interest rates[233] - Interest expense decreased by $11.1 million, or 51%, in 2022 compared to 2021, mainly due to the adoption of ASU 2020-06[234] - Marketing expenses increased by $0.4 million, or 1%, in 2022 compared to 2021, while as a percentage of revenue, it decreased to 11% from 13%[227][228]

RealReal, Inc. (NASDAQ:REAL) Q3 2022 Earnings Conference Call November 8, 2022 5:00 PM ET Company Participants Caitlin Howe - VP, IR Rati Levesque - Co-Interim CEO, President & COO Robert Julian - Co-Interim CEO & CFO Conference Call Participants Marvin Fong - BTIG Kunal Madhukar - UBS Jonna Kim - Cowen Tom Nikic - Wedbush Securities Irwin Boruchow - Wells Fargo Securities Simeon Siegel - BMO Capital Markets Michael Binetti - Crédit Suisse Noah Zatzkin - KeyBanc Capital Markets Lauren Schenk - Morgan Stanle ...

The RealReal, Inc. (NASDAQ:REAL) Q2 2022 Earnings Conference Call August 9, 2022 5:00 PM ET Company Participants Caitlin Howe - Vice President of Investor Relations Julie Wainwright - Founder Rati Levesque - President and Co-Chief Executive Officer Robert Julian - Co-Chief Executive Officer and Chief Financial Officer Conference Call Participants Simeon Siegel - BMO Capital Markets Irwin Boruchow - Wells Fargo Securities, LLC Rick Patel - Raymond James Anna Andreeva - Needham and Company Kunal Madhukar - UB ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 001-38953 __________ ...

Q2 2022 EARNINGS PRESENTATION Safe Harbor/Disclosure Statement These materials contain forward-looking statements relating to, among other things, the future performance of The RealReal that are based on the company's current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "cont ...

Financial Data and Key Metrics Changes - The company reported better-than-anticipated financial results for Q1 2022, with GMV driven by fine jewelry, watches, high-value handbags, and strong growth in women's apparel and shoes [6][10] - The projected GMV growth for Q2 is approximately 33.5% compared to the previous year, indicating confidence in continued growth despite a challenging retail environment [17][25] - Revenue growth rate for Q1 was 48.5%, with a projected growth rate of 52.3% for Q2, reflecting strong demand and operational efficiency [92] Business Line Data and Key Metrics Changes - Direct revenue as a percentage of total revenue increased to 34% in Q1 from 25% in the previous year, driven by higher sell-through rates [18] - The company anticipates that the proportion of direct revenue will decline over time as it emphasizes its consignment business model [20] Market Data and Key Metrics Changes - The company noted a shift in consumer behavior towards apparel, which is growing at a fast rate, contrasting with trends in the broader e-commerce market [7][15] - The luxury market is described as resilient, with the company positioned to benefit from consumers trading down from primary markets due to inflation [10][28] Company Strategy and Development Direction - The company aims to achieve profitability on an adjusted EBITDA basis by 2024 and is on track to meet its Vision 2025 targets, focusing on topline growth of at least 30% and operational excellence [8] - The strategy includes a focus on reducing fixed costs and improving variable cost productivity, with significant operating expense leverage achieved in Q1 [9][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate inflationary pressures and labor challenges, noting strong demand and a healthy supply of inventory [9][10] - The company believes that a potential recession could drive higher supply as consumers look to monetize their items, leveraging its unique position in the luxury resale market [39][100] Other Important Information - The company has 16 shoppable stores and three luxury consignment offices, with plans to open two new stores per year, depending on real estate opportunities [63][65] - The company is making progress in automation and pricing strategies, aiming to improve processing times and enhance operational efficiency [109][110] Q&A Session Summary Question: Can you talk about the behavior of new buyers compared to previous cohorts? - New buyers are behaving similarly to previous cohorts, with a notable increase in apparel purchases [15] Question: What are you seeing in the business quarter-to-date? - The company is confident in its Q2 guidance, projecting a 33.5% growth in GMV [17][25] Question: How should we think about the mix of direct sales for the balance of the year? - Direct revenue is expected to decrease as the company emphasizes its consignment model, although it will remain a portion of the business [20] Question: Are you seeing any signs of trade down within your business? - The company is observing a category shift rather than a trade down, with increased sales in apparel [28] Question: Can you provide insights on supply trends in Q1? - Supply trends were healthy, with a mix of ready-to-wear items and a return to pre-COVID levels in in-home supply [32] Question: What is the breakdown of inventory by category? - Approximately 60% of inventory is from vendor purchases, 25% from "get paid now" initiatives, and 15% from out-of-policy returns [33] Question: What are the expectations for gross margin in the upcoming quarters? - Gross margin is expected to improve in the second half of the year as the proportion of direct revenue declines [77] Question: How is the marketing spend expected to evolve? - The company anticipates continued efficiency in marketing spend, aided by a strong flywheel effect from its stores [85]

Q1 2022 EARNINGS PRESENTATION Safe Harbor/Disclosure Statement These materials contain forward-looking statements relating to, among other things, the future performance of The RealReal that are based on the company's current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "cont ...