TheRealReal (REAL) Gross Margin (2018 - 2026)
TheRealReal (REAL) posted Gross Margin of 74.5% for Q1 2026, little changed sequentially from 74.83% in Q4 2025, and down 50.0% YoY from 149.0% in Q1 2025.
TheRealReal (REAL) Gross Margin (2018 - 2026) Analysis & Trends
TheRealReal has reported Gross Margin for 9 years, with the latest figure at 74.5% in Q1 2026.
- Quarterly Gross Margin fell 50.0% year-over-year to 74.5% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 74.48% (down 15.0% YoY) and the FY2025 annual result came in at 74.59%, up 7.0% from the prior year.
- Gross Margin steadied at 74.5% in Q1 2026 per REAL's latest filing, from 74.83% in the prior quarter.
- Over five years, Gross Margin peaked at 75.0% in Q1 2025 and troughed at 53.59% in Q1 2022.
- A 5-year average of 69.17% and a median of 74.15% in 2024 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2023: Gross Margin sank 545 bps in 2022, then jumped 1346 bps in 2023.
- Over 5 years, Gross Margin stood at 60.51% in 2022, then grew by 22 bps to 73.97% in 2023, then rose by 1 bps to 74.43% in 2024, then advanced by 1 bps to 74.83% in 2025, then decreased by 0 bps to 74.5% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 74.5%, 74.83%, and 74.27% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tapestry | 26.15 Bn | 24.99 Bn | 1.56 Bn | 83.32% |
| 2 | Signet Jewelers | 3.73 Bn | 3.13 Bn | 556.50 Mn | 35.82% |
| 3 | Capri Holdings | 1.87 Bn | 1.73 Bn | - | - |
| 4 | TheRealReal | 1.33 Bn | 1.22 Bn | 143.20 Mn | 74.36% |
| 5 | LuxExperience B.V | 1.07 Bn | 703.47 Mn | 329.37 Mn | 45.49% |
| 6 | Movado | 805.20 Mn | 574.66 Mn | 103.63 Mn | 54.09% |
| 7 | Envela | 419.96 Mn | 376.52 Mn | 13.38 Mn | 23.56% |
| 8 | Lanvin Group Holdings | 132.35 Mn | 94.30 Mn | - | - |
| 9 | AsiaStrategy | 67.74 Mn | 48.66 Mn | - | - |
| 10 | Brilliant Earth | 22.13 Mn | -52.95 Mn | 66.64 Mn | 57.90% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Sep 30, 2021 | 59.83% |