Slide 1: Q1 2025 Financial Results
Q1 2025 FINANCIAL RESULTS May 8, 2025
Slide 2: Safe Harbor/Disclosure Statement
Q1 2025 FINANCIAL RESULTS 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. I
Slide 3: Changing The Way People Shop For the Better
Q1 2025 FINANCIAL RESULTS Trusted market leader in luxury resale across diverse categories & brands Changing The Tenured sales team nurtures highly-engaged community of buyers & consignors Way People Shop Rich data and technology expertise driving pricing and authentication Full-service approach red
Slide 4: Clear and Focused Strategy
Q1 2025 FINANCIAL RESULTS Clear and Focused Strategy UNLOCK SUPPLY DRIVE OBSESS THROUGH OPERATIONAL OVER GROWTH PLAYBOOK EFFICIENCY SERVICE SUPPORTED BY PROPRIETARY TECHNOLOGY AND DATA 4
Slide 5: Proprietary Technology and Data Is A Key Differentiator
Q1 2025 FINANCIAL RESULTS Proprietary Technology and Data Is A Key Differentiator 13+ YEARS OF RICH DATA Including luxury item images and attributes, pricing/transactions, and customer behavior PROPRIETARY ADVANCED AI OPERATIONAL SYSTEMS AND ANALYTICS SOPHISTICATED BEST-IN-CLASS AUTOMATED PERSONALIZ
Slide 6: Q1 2025 Key Highlights
Q1 2025 FINANCIAL RESULTS • GMV +9% and Revenue +11% YoY in line with expectations HEALTHY • Active buyers increased 7% on a trailing 12-month basis SUPPLY AND • Highest new consignor growth in over 2 years STRONG • Success in expanding our consignment network through GROWTH partnership programs and
Slide 7: Q1 Financial Summary
Q1 2025 FINANCIAL RESULTS Q1 Financial Summary GMV ($M) ACTIVE BUYERS (000s) +7% +9% YoY YoY GMV of $490M, increased 9% Active Buyers increased 7% year-over-year with fine jewelry sales year-over-year on a trailing showing particularly strong growth 12-month basis in Q1’25 7
Slide 8: Q1 Financial Summary
Q1 2025 FINANCIAL RESULTS Q1 Financial Summary REVENUE ($M) ADJUSTED EBITDA ($M) +2.6% +11% of Revenue YoY Revenue, +11% year-over year, Adjusted EBITDA improved was driven by healthy supply trends $6M or 410 basis points as a and strong sell-through % of revenue year-over-year 8
Slide 9: Q1 Financial Summary
Q1 2025 FINANCIAL RESULTS Q1 Financial Summary GROSS MARGIN OPERATING EXPENSES (% of Total Revenue) +40 bps OPERATIONS & SELLING, GENERAL RESTRUCTURING / MARKETING YoY TECHNOLOGY & ADMINISTRATIVE OTHER 0.0% Gross Margin +40 bps Total Operating Expenses leveraged by 410 bps. Excluding stock-based yea
Slide 10: 2025 Outlook
Q1 2025 FINANCIAL RESULTS 2025 Outlook $476M - $486M $1.96B - $1.99B Full Year 2025 GMV Q2 2025 $157M - $161M REVENUE $645M - $660M ADJUSTED $3.0M - $4.0M $20M - $30M EBITDA 10
Slide 11: Key Advantages and Differentiators
Q4 2025 Q1 2024 FINANCIAL RESULTS Key Advantages LEADER IN LUXURY RESALE INDUSTRY and Differentiators scaled platform with strong brand equity and rich data assets A LARGE AND GROWING TAM supported by unique positioning and strong secular tailwinds DIFFERENTIATED MODEL built on foundation of trust,
Slide 12: Appendix
The RealReal Appendix
Slide 13: Q1 2025 Obsession Trends
Q1 2025 FINANCIAL RESULTS Q1 2025 Obsession Trends Branded Mid-tier Trending RTW* Top Jewelry Jewelry Handbags Brands Collections Cartier Loewe Prada Cartier Love Juste un Clou & Van Cleef & Arpels The Row Brunello Panthere Bvlgari Miu Miu Zimmerman Van Cleef Alhambra Tiffany Balenciaga Khaite Bvlga
Slide 14: Key Financial Metrics
Q1 2025 FINANCIAL RESULTS KEY FINANCIAL METRICS 14
Slide 15: Income Statement
Q1 2025 FINANCIAL RESULTS INCOME STATEMENT 15
Slide 16: Balance Sheet 1 of 2
Q1 2025 FINANCIAL RESULTS BALANCE SHEET 1 of 2 16
Slide 17: Balance Sheet 2 of 2
Q1 2025 FINANCIAL RESULTS BALANCE SHEET 2 of 2 17
Slide 18: Free Cash Flow Reconciliation of GAAP to Non-GAAP Results
Q1 2025 FINANCIAL RESULTS FREE CASH FLOW RECONCILIATION OF GAAP TO NON-GAAP RESULTS 18
Slide 19: Adjusted EBITDA Reconciliation of GAAP to Non-GAAP Results
Q1 2025 FINANCIAL RESULTS ADJUSTED EBITDA RECONCILIATION (1, 2) OF GAAP TO (3) NON-GAAP RESULTS (1) The restructuring charges for the three months ended March 31, 2024 consist of employee severance related charges. (2) The gain on extinguishment of debt for the three months ended March 31, 2025 refl
Slide 20: The RealReal
The RealReal