Slide 1: Q1 Earnings Presentation
Make Make Well. Well. BuyBuy Well. Well. Resell. Resell. Q1 Earnings Presentation May 2024 Confidential
Slide 2: Safe Harbor/Disclosure Statement
Safe Harbor/Disclosure Statement These materials contain forward-looking statements relating to, among other things, the future performance of The RealReal that are based on the company's current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can iden
Slide 3: Who We Are, What We Do, Why We Win
Who We Are What We Do Leading Online Marketplace for Unlock Supply through Unmatched Authenticated, Resale Luxury Goods Sales Motion, Trust, and a Community with $1.7bn of annual GMV1 of over 36 million members2 Make Well. Buy Well. Resell. Why We Win Consignors Buyers Make Well. Buy Well. Resell. C
Slide 4: Business Update
Business Update The RealReal
Slide 5: Focus on Core Delivering Strong Results
Focus on Core Delivering Strong Results In Q1’24, GMV +2% Y/Y and consignment $181 million of cash and cash revenue +13% Y/Y and equivalents and restricted cash1 direct revenue -49% Y/Y, on the balance sheet at quarter which resulted in total end; inventory of $21 million, gross margin of 74.6% down
Slide 6: Business Highlights and Key Takeaways
Business Highlights and Key Takeaways • Better Than Anticipated Financial Results in Q1’24 • Q1 GMV +2% Y/Y • Total revenue +1% Y/Y • Consignment revenue +13% Y/Y • Q1 Gross margins increased +1100 basis points Y/Y • Delivering Profitable Growth • Focused growth model on core consignment business •
Slide 7: Financial Update
Financial Update The RealReal
Slide 8: Adjusted EBITDA Improves; Balance Sheet Remains Solid
Adjusted EBITDA Improves; Balance Sheet Remains Solid Profit and Loss Statement: Q1 2024 • GMV of $452 million, an increase of 2% year-over-year • Total Revenue of $144 million, an increase of 1% year-over-year • Gross Margin of 74.6% compared to 63.4% in Q1 2023 • Adjusted EBITDA of $(2.3) million,
Slide 9: Q1 2024 Key Financial Metrics
Q1 2024 Key Financial Metrics1 1Active buyers is trailing twelve months active buyers. 2022 Q1 2024 Earnings Investor Day Presentation 9
Slide 10: Q2 and Full Year 2024 Financial Guidance
Q2 and Full Year 2024 Financial Guidance Q2 2024 FY 2024 GROSS MERCHANDISE VALUE $420 - $450 million $1.81 - $1.87 billion (GMV) TOTAL REVENUE $135 - $145 million $580 - $605 million ADJUSTED EBITDA $(6) - $(3) million $(5) - $8 million1 1Midpoint of guidance range is $1.5 million and represents a $
Slide 11: Appendix
Appendix The RealReal
Slide 12: Non-GAAP Reconciliation
Non-GAAP Reconciliation 2022 Q1 2024 Earnings Investor Day Presentation 12
Slide 13: 2022 Investor Day
2022 Investor Day 13