TheRealReal (REAL) Gross Margin (2018 - 2026)

TheRealReal has disclosed Gross Margin across 9 years of filings, most recently posting 74.5% for Q1 2026.

• Gross Margin for Q1 2026 came in at 74.5%, down 50.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 74.48% (down 15.0% YoY), and the FY2025 annual result was 74.59%, up 7.0% from the prior year.
• Gross Margin came in at 74.5% for Q1 2026 at TheRealReal, roughly flat from 74.83% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 75.0% in Q1 2025 to a low of 53.59% in Q1 2022.
• The 5-year median for Gross Margin is 74.15% (2024), against an average of 69.17%.
• Across the five-year window, Gross Margin sank 545 bps in 2022 and surged 1346 bps in 2023, its largest moves.
• TheRealReal's Gross Margin stood at 60.51% in 2022, then advanced by 22 bps to 73.97% in 2023, then grew by 1 bps to 74.43% in 2024, then rose by 1 bps to 74.83% in 2025, then fell by 0 bps to 74.5% in 2026.
• The last three Gross Margin figures came in at 74.5% (Q1 2026), 74.83% (Q4 2025), and 74.27% (Q3 2025), per Business Quant data.