TheRealReal (REAL) Gross Margin (2018 - 2026)
TheRealReal recorded quarterly Gross Margin of 74.5% in Q1 2026, little changed quarter-over-quarter from 74.83% in Q4 2025, and down 50.0% year-over-year from 149.0% in Q1 2025.
TheRealReal's Gross Margin history runs 9 years deep, the most recent figure standing at 74.5% for Q1 2026.
- In Q1 2026, Gross Margin fell 50.0% year-over-year to 74.5%; the TTM figure through Mar 2026 stood at 74.48% (down 15.0% YoY), while the FY2025 annual figure 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.
- A 5-year average of 69.17% and a median of 74.15% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin plunged 545 bps in 2022 and soared 1346 bps in 2023, its largest moves.
- TheRealReal's Gross Margin stood at 60.51% in 2022, then climbed by 22 bps to 73.97% in 2023, then increased by 1 bps to 74.43% in 2024, then gained by 1 bps to 74.83% in 2025, then retreated 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.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Tapestry | 28.43 Bn | 27.36 Bn | 1.48 Bn | 76.88% |
| 2 | Signet Jewelers | 3.51 Bn | 2.64 Bn | 985.10 Mn | 42.01% |
| 3 | Capri Holdings | 2.21 Bn | 2.06 Bn | 623.00 Mn | 60.78% |
| 4 | TheRealReal | 1.15 Bn | 1.03 Bn | 141.33 Mn | 74.50% |
| 5 | Movado | 835.22 Mn | 606.10 Mn | 103.63 Mn | 54.09% |
| 6 | Envela | 620.27 Mn | 581.65 Mn | 20.62 Mn | 20.96% |
| 7 | Brilliant Earth | 19.84 Mn | 21.09 Mn | 54.07 Mn | 54.34% |
| 8 | Lanvin Group Holdings | 223,892.13 | -35.01 Mn | - | - |
| 9 | LuxExperience B.V | 16,823.61 | -364.20 Mn | 329.37 Mn | 45.49% |
| 10 | AsiaStrategy | - | - | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 60.44% |
| Mar 31, 2021 | 59.04% |
| Dec 31, 2020 | 61.48% |
| Sep 30, 2020 | 63.66% |
| Jun 30, 2020 | 62.26% |
| Mar 31, 2020 | 62.78% |
| Dec 31, 2019 | 66.12% |
| Sep 30, 2019 | 64.07% |
| Jun 30, 2019 | 64.88% |
| Mar 31, 2019 | 60.05% |
| Dec 31, 2018 | 61.66% |
| Sep 30, 2018 | 64.30% |
| Jun 30, 2018 | 65.51% |