The RealReal (ADR) (REAL)
Authenticates and consigns pre-owned luxury fashion, jewelry, and watches online and in stores.
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Operates an online marketplace and U.S. stores for authenticated, primarily pre-owned luxury fashion, fine jewelry, and watches. Most revenue comes from commissions on consigned sales, with additional direct-inventory and shipping revenue; the single-segment model depends on consignor supply, buyer trust, and reliable processing and fulfillment.
Runs an online marketplace and U.S. retail stores for authenticated, primarily pre-owned luxury goods across women's fashion, men's fashion, fine jewelry, and watches. Its full-service consignment offering handles virtual and in-home consultations, drop-off, authentication, pricing, photography, listing, fulfillment, and returns.
Most revenue comes from commissions retained when consigned goods sell. Smaller streams come from sales of company-owned inventory, buyer shipping fees, and an early-access subscription.
Proprietary transaction data and single-item inventory systems support authentication, pricing, merchandising, and processing, while stores help source goods and serve buyers. Operations form one reportable segment, with substantially all revenue and long-lived assets in the United States. The model depends on recurring consignor supply, buyer trust in authentication, efficient fulfillment and returns, and third-party shipping providers.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 7, 2026 | Roth Capital | Reiterate | Rating: —Target: $17 | Target: $19 |
| May 8, 2026 | Robert W. Baird | Target | Target: $15 | Target: $13 |
| May 8, 2026 | Roth Capital | Target | Target: $17.50 | Target: $17 |
| May 8, 2026 | BTIG | Reiterate | Rating: —Target: $18 | Target: $17 |
| May 8, 2026 | UBS | Reiterate | Rating: —Target: $16 | Target: $14 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $119.1M · Total debt $463.3M · Total assets $378.3M · Shareholders' equity −$377.7M
- Revenue
- $192.6M
- Operating income
- −$2.3M
- Net income
- −$27.2M
No dividends on record.
| Institutions | 93.64% | 113.93M ADS | |
|---|---|---|---|
| 266 holders · as of Jun 30, 2026 | |||
| Insiders | 13.20% | 16.06M ADS | |
| 15 holders · as of Aug 24, 2026 | |||
| Adds to | 106.84% | ||
121.67M ADS as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 106.84%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.38% | 11.41M ADS | as of Jun 30, 2026 |
Divisadero Street Capital Management, LPInstitution | 7.56% | 9.20M ADS | as of Jun 30, 2026 |
David L. KanenInsider | 6.04% | 7.35M | filed Nov 1, 2024 |
FMR LLCInstitution | 4.15% | 5.05M ADS | as of Jun 30, 2026 |
D. E. Shaw & Co., Inc.Institution | 4.01% | 4.88M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Levesque Rati Sahi | officer: Chief Executive Officer | −84,432 | $10.98 |
| Aug 21, 2026 | Todd A. Suko | officer: Chief Legal Officer and Secret | −17,567 | $10.97 |
| Aug 21, 2026 | Steve Ming Lo | officer: Chief Accounting Officer | −12,559 | $10.97 |
| Aug 21, 2026 | Luke Thomas Friang | officer: Chief Product & Tech Officer | −22,028 | $10.98 |
| Aug 21, 2026 | Gopal Ajay Madan | officer: Chief Financial Officer | −36,418 | $10.98 |
- eBay
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- Etsy
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- Coupang
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- 1stDibs
Luxury marketplace overlap in jewelry, watches, and fashion
- Rent the Runway
Adjacent designer-fashion access and resale overlap
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| The RealReal (ADR) | $9.90 | 0.00% | $1.16B | — | 56.8 | 1.6 | +16.6% |
| eBay | $110.26 | +0.89% | $48.09B | 22.4 | 17.4 | 4.0 | +14.8% |
| ThredUp | $2.45 | +0.20% | $311.0M | — | — | 0.9 | +16.9% |
| Etsy | $74.23 | −1.27% | $6.97B | 40.2 | 15.9 | 2.4 | −0.7% |
| Coupang | $14.65 | +0.34% | $26.28B | — | 105.0 | 0.7 | +3.9% |
| 1stDibs | $4.22 | +0.48% | $143.8M | — | — | 1.6 | +5.3% |
| Rent the Runway | $1.84 | −1.60% | $65.2M | 0.2 | — | 0.2 | +20.8% |
| Median | 22.4 | 17.4 | 1.3 | +10.1% |