Business
The RealReal Reports Strong Preliminary Fourth Quarter and Full Year 2024 Results; Projects Profitable Growth for 2025; Completes Strategic Debt Exchange Strengthening its Financial Position
SAN FRANCISCO, Feb. 10, 2025 (GLOBE NEWSWIRE) -- The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury
About this update from The Realreal, Inc.
[{"type":"text","content":"SAN FRANCISCO, Feb. 10, 2025 (GLOBE NEWSWIRE) -- The RealReal (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury goods—today provided preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2024 and announced its entry into strategic debt exchange transactions with certain holders of its 1.00% Convertible Senior Notes due 2028 (the “2028 Notes”), reducing its total indebtedness by approximately $37 million and extending a significant portion of its 2028 maturities to 2031. Preliminary Fourth Quarter and Full Year 2024 Financial Results “I am pleased to report strong Q4 and full year 2024 preliminary results. Our growth playbook combined with operational excellence enabled us to deliver GMV and Adjusted EBITDA above our guidance range,\" said Rati Levesque, President and Chief Executive Officer of The RealReal. “2024 marked an important inflection point for our business. We achieved positive Adjusted EBITDA for the year, and we’re just getting started.” Gross Merchandise Value (GMV) and Adjusted EBITDA for the fourth quarter and full year are expected to exceed previously issued guidance ranges, as outlined in the table below. Q4 2024 Preliminary ResultsPrior Q4 2024 GuidanceGMV$503.5 million$484.0 - $500.0 millionTotal Revenue$163.1 - $164.1 million$158.0 - $165.0 millionAdjusted EBITDA$10.7 – $11.2 million*$6.5 - $9.5 million FY 2024 Preliminary ResultsPrior FY 2024 GuidanceGMV$1.829 billion$1.810 - $1.826 billionTotal Revenue$599.6 - $600.6 million$595 - $602 millionAdjusted EBITDA$9.0 - $9.5 million*$4.7 - $7.7 million *Adjusted EBITDA is based on preliminary net loss ranges of $(68.8) million and $(68.3) million and $(134.5) million and $(134.0) million for the three and twelve months ended December 31, 2024, respectively. Net loss includes an adjustment of $(59.0) million and $(68.2) million related to the change in fair value of our warrant liability for the three and twelve months ended December 31, 2024, respectively. The Company’s preliminary financial results are based on the Company’s current estimate of its results for the quarter and full year ended December 31, 2024, and remain subject to change based on the completion of closing and review procedures and the execution of the Company’s internal controls over financial reporting. First Quart...