TheRealReal (REAL) Net Margin (2018 - 2026)
TheRealReal (REAL) posted Net Margin of -14.14% for Q2 2026, down 7.26 percentage points from -6.88% a year earlier and down 34.67 percentage points from the prior quarter.
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Analysis
TheRealReal (REAL) Net Margin (2018 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Net Margin at TheRealReal was -10.82%, down 5.27 percentage points year-over-year; for FY2025, it came in at -6.03%, up 16.32 percentage points from FY2024.
- Annual Net Margin has increased for five consecutive years, with a five-year change of +52.59 percentage points (FY2020 to FY2025).
- In prior years, TheRealReal's Net Margin was -22.35% in FY2024 (+8.32 pp), -30.67% in FY2023 (+1.88 pp), -32.55% in FY2022 (+17.93 pp) and -50.48% in FY2021 (+8.14 pp).
- Quarterly Net Margin has run from a low of -58.14% in Q1 2023 to a high of 38.99% in Q1 2025 over five years.
- On a year-over-year basis, Net Margin increased in four of the last eight quarters, with an average year-over-year change of +2.60 percentage points.
- The strongest year-over-year quarter for Net Margin in the past five years was Q1 2025, with a gain of 60.62 percentage points; the weakest was Q4 2024, with a drop of 26.61 percentage points.
- According to Business Quant data, Net Margin for the three prior quarters was 20.52% (Q1 2026), -19.99% (Q4 2025) and -31.14% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 53.14 Bn | 19.13 Bn | 5.39 Bn | 9.74% |
| 2 | Tapestry | 22.87 Bn | 18.83 Bn | 1.56 Bn | 18.53% |
| 3 | Ralph Lauren | 21.39 Bn | 13.49 Bn | 1.44 Bn | 13.38% |
| 4 | Deckers Outdoor | 11.06 Bn | 3.93 Bn | - | - |
| 5 | Lululemon Athletica | 10.32 Bn | 4.58 Bn | 1.46 Bn | 13.63% |
| 6 | Levi Strauss | 7.62 Bn | 4.28 Bn | 979.10 Mn | 5.59% |
| 7 | Gildan Activewear | 6.55 Bn | 5.54 Bn | 459.76 Mn | -3.16% |
| 8 | Birkenstock Holding | 6.07 Bn | 4.38 Bn | 493.89 Mn | 15.23% |
| 9 | Crocs | 5.90 Bn | 5.31 Bn | 700.71 Mn | 17.37% |
| 10 | TheRealReal | 1.07 Bn | 566.71 Mn | 143.20 Mn | -14.14% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -14.14% |
| Mar 31, 2026 | 20.52% |
| Dec 31, 2025 | -19.99% |
| Sep 30, 2025 | -31.14% |
| Jun 30, 2025 | -6.88% |
| Mar 31, 2025 | 38.99% |
| Dec 31, 2024 | -41.74% |
| Sep 30, 2024 | -12.14% |
| Jun 30, 2024 | -11.53% |
| Mar 31, 2024 | -21.63% |
| Dec 31, 2023 | -15.13% |
| Sep 30, 2023 | -17.23% |
| Jun 30, 2023 | -31.58% |
| Mar 31, 2023 | -58.14% |
| Dec 31, 2022 | -24.18% |
| Sep 30, 2022 | -33.12% |
| Jun 30, 2022 | -34.43% |
| Mar 31, 2022 | -39.14% |
| Dec 31, 2021 | -35.97% |
| Sep 30, 2021 | -48.13% |
API Access
TheRealReal Net 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=net-margin&ticker=REAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=REAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();