TheRealReal (REAL) Gross Margin (2018 - 2026)
TheRealReal (REAL) reported Gross Margin of 74.91% for Q3 2026, up 0.64 percentage points from 74.27% a year earlier and up 0.55 percentage points from the prior quarter.
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Analysis
TheRealReal (REAL) Gross Margin (2018 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, TheRealReal's Gross Margin came in at 74.66%, up 0.17 percentage points year-over-year; for FY2025, it was 74.59%, up 0.07 percentage points from FY2024.
- Gross Margin has increased for three consecutive years, with a five-year change of +12.06 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 74.53% in FY2024 (+6.03 pp), 68.50% in FY2023 (+10.72 pp), 57.78% in FY2022 (-0.69 pp) and 58.47% in FY2021 (-4.06 pp).
- The Q3 2026 figure ranks as the highest quarterly Gross Margin since Q1 2025.
- Year over year, Gross Margin gained in six of the last eight quarters, with an average year-over-year change of +0.12 percentage points.
- The high point for year-over-year Gross Margin in five years was Q4 2023 (a gain of 13.46 percentage points); the low point was Q4 2021 (a drop of 5.92 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 74.36% (Q2 2026), 74.50% (Q1 2026) and 74.83% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 57.55 Bn | 23.75 Bn | 4.80 Bn | 42.79% |
| 2 | Tapestry | 27.52 Bn | 23.48 Bn | 1.56 Bn | 83.32% |
| 3 | Ralph Lauren | 23.85 Bn | 15.77 Bn | 1.63 Bn | 74.22% |
| 4 | Lululemon Athletica | 12.34 Bn | 6.60 Bn | 1.46 Bn | 60.52% |
| 5 | Deckers Outdoor | 12.04 Bn | 5.24 Bn | 895.11 Mn | 60.46% |
| 6 | Levi Strauss | 9.26 Bn | 5.84 Bn | 1.07 Bn | 66.21% |
| 7 | V F | 8.01 Bn | 4.61 Bn | 1.49 Bn | 55.38% |
| 8 | Crocs | 7.52 Bn | 6.93 Bn | 689.73 Mn | 66.16% |
| 9 | Birkenstock Holding | 6.90 Bn | 5.23 Bn | 493.89 Mn | 59.05% |
| 10 | TheRealReal | 1.77 Bn | 1.25 Bn | 154.40 Mn | 74.91% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 74.91% |
| Jun 30, 2026 | 74.36% |
| Mar 31, 2026 | 74.50% |
| Dec 31, 2025 | 74.83% |
| Sep 30, 2025 | 74.27% |
| Jun 30, 2025 | 74.26% |
| Mar 31, 2025 | 75.00% |
| Dec 31, 2024 | 74.43% |
| Sep 30, 2024 | 74.93% |
| Jun 30, 2024 | 74.15% |
| Mar 31, 2024 | 74.60% |
| Dec 31, 2023 | 73.97% |
| Sep 30, 2023 | 70.64% |
| Jun 30, 2023 | 65.85% |
| Mar 31, 2023 | 63.41% |
| Dec 31, 2022 | 60.51% |
| Sep 30, 2022 | 60.11% |
| Jun 30, 2022 | 56.78% |
| Mar 31, 2022 | 53.59% |
| Dec 31, 2021 | 55.56% |
API Access
TheRealReal Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=REAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "REAL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=REAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();