TheRealReal (REAL) Operating Expenses (2018 - 2026)

TheRealReal's Operating Expenses history runs 9 years deep, the most recent figure standing at $143.6 million for Q1 2026.

• In Q1 2026, Operating Expenses rose 8.14% year-over-year to $143.6 million; the TTM figure through Mar 2026 stood at $551.6 million (up 7.82% YoY), while the FY2025 annual figure was $540.8 million, up 7.29% from the prior year.
• Operating Expenses came in at $143.6 million for Q1 2026 at TheRealReal, up from $138.9 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $171.8 million in Q1 2023 to a low of $116.6 million in Q3 2023.
• A 5-year average of $133.5 million and a median of $132.6 million in 2025 frame the typical range for Operating Expenses.
• Across the five-year window, Operating Expenses climbed 28.85% in 2023 and declined 27.11% in 2024, its largest moves.
• TheRealReal's Operating Expenses stood at $134.6 million in 2022, then dropped by 5.53% to $127.1 million in 2023, then advanced by 0.08% to $127.2 million in 2024, then rose by 9.21% to $138.9 million in 2025, then grew by 3.37% to $143.6 million in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered $143.6 million, $138.9 million, and $136.5 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison