Slide 1: Q4 2023 Earnings Presentation
Q4 2023 EARNINGS PRESENTATION
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: Strong Progress with Core Consignment Re-focus
Strong Progress with Core Consignment Re-focus In Q4’23, consignment revenue +3% Y/Y and $191 million of cash and cash direct revenue -52% equivalents and restricted cash1 Y/Y, which resulted in on the balance sheet at quarter gross margin of 74.0% end; net inventory of $22 (+1300 bpts Y/Y) million,
Slide 4: Business Highlights and Key Takeaways
Business Highlights and Key Takeaways • Positive Adjusted EBITDA in Q4 2023 • Q4 GMV -9% and revenue -10% Y/Y • Consignment revenue +3% Y/Y and direct revenue -52% Y/Y • Q4 Gross margins increased +1300 basis points Y/Y • First quarter of positive Adjusted EBITDA since IPO in 2019 • Progress on Key
Slide 5: Adjusted EBITDA Improves; Balance Sheet Remains Solid
Adjusted EBITDA Improves; Balance Sheet Remains Solid Profit and Loss Statement: Q4 2023 Results • GMV of $451 million, a decrease of 9% year-over-year • Total Revenue of $143 million, a decrease of 10% year-over-year • Gross Margin of 74.0% compared to 60.5% in Q4 2022 • Adjusted EBITDA of $1.4 mil
Slide 6: Q1 and Full Year 2024 Financial Guidance
Q1 and Full Year 2024 Financial Guidance Q1 2024 FY 2024 GROSS MERCHANDISE VALUE $415 - $445 million $1.80 - $1.88 billion (GMV) TOTAL REVENUE $135 - $145 million $580 - $605 million ADJUSTED EBITDA $(8) - $(4) million $(8) - $8 million 2022 Q4 2023 Earnings Investor Day Presentation 6
Slide 7: The RealReal's Investment Highlights
The RealReal’s Investment Highlights Large Total Leader in Nascent Marketplace Addressable Market Industry with Highly Benefitting from (TAM) Coveted Product Tech Investment • Billions of dollars worth of • World’s largest online • 35+ million members with luxury goods trapped in luxury resale platf
Slide 8: Appendix
Appendix 20222022 Investor Investor Day Presentation 8
Slide 9: Non-GAAP Reconciliation
Non-GAAP Reconciliation 2022 Q4 2023 Earnings Investor Day Presentation 9
Slide 10: The RealReal
The RealReal The RealReal ‘0