Added to YB: 2026-03-25
Pitch date: 2026-03-23
REAL [neutral]
The RealReal, Inc.
-1.3%
current return
Author Info
Company Info
The RealReal, Inc. operates an online marketplace for resale luxury goods worldwide. It provides a range of product categories, including women’s fashion, men’s fashion, jewelry, and watches.
Market Cap
$1.0B
Pitch Price
$9.20
Price Target
N/A
Dividend
N/A
EV/EBITDA
28.13
P/E
-12.30
EV/Sales
1.93
Sector
Specialty Retail
Category
growth
Part 1: Q4 Earnings Updates and Capturing Cheap Growth? [REAL]
REAL (earnings): Q4 beat & raise; GMV +16.4% YoY (jewelry +23.5%), sales +15% YoY vs 7.9% guide. GM hit 74.6% (record high), adj EBITDA margin 3.6%, FCF positive $43M Q4. Active buyers 1.056M ATH, AOV $594. Domestic sourcing = no tariff risk. Trades at lowest NTM EV/EBITDA ever despite guiding 45% EBITDA growth FY'26, ~36% CAGR next 3yr. Misclassified as discretionary retail; serves 'status economy' niche between value (TDUP) & luxury (LVMH). Net debt $220M, converts due 2028+.
Read full article (5 min)