The RealReal

0.2 (1.12%)

NASDAQ:REAL | Last traded on 11-15-2019 4:00 PM

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Featured Analysis

This is a case where grading fatigue is probably affecting my judgement to the extent that, in a sea of poor students, the least poor rise to the top. The company's valuation is not outlandish, and the sales growth is good. I worry that a business like this would tend to be negatively impacted in a recession if we ever have one. I'm really going to rely on comments from others for this one, and I'm going to cop out and give them a 3 Hippo rating because at least they did not have the audacity to price themselves outlandishly.

Company Data


San Francisco, CA






Total Shares Offered





IPO Date


Background Information

The RealReal is the world’s largest online marketplace for authenticated, consigned luxury goods. They provide an end-to-end service that unlocks supply from consignors and creates a trusted online marketplace for buyers globally. Over the past eight years, they have cultivated a consignor and buyer base through continuous investment in their technology platform, logistics infrastructure, and people.

Financial Analysis

Years 2017 2018
Revenue growth -- 55%
Net profit margin -39%-37%
Valuation -- $1.1B
Revenue multiple -- 7.6x
Profit multiple ---21x

Financial Information

Income Statement ($M) 2017 2018
Cost of goods sold4670
Gross profit88137
Total operating expense139211
Pretax profit(52)(76)
Net income(52)(76)
Balance Sheet ($M) 2017 2018
Total current assets4789
Cash and cash equivalents1634
Total assets76135
Total current liabilities6588
Total liabilities8099
Total shareholder equity177258
Total liabilities and equity76135
Cash Flow Statement ($M) 20172018
Net cash from operating activities (39)(47)
Net cash from investing activities (11)(34)
Net cash from financing activities 47106
Net increase in cash and cash equivalents (3)25