TheRealReal Files Q3 2024 10-Q
Ticker: REAL · Form: 10-Q · Filed: Nov 4, 2024 · CIK: 1573221
Sentiment: neutral
Topics: 10-Q, earnings, financials
TL;DR
TheRealReal dropped its Q3 10-Q. Check financials for the latest.
AI Summary
TheRealReal, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Specific financial details and operational updates for this period are detailed within the report.
Why It Matters
This filing provides investors with the latest financial performance and operational status of TheRealReal, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — The company operates in a competitive market and its financial performance can be volatile, requiring careful investor scrutiny.
Key Players & Entities
- TheRealReal, Inc. (company) — Filer of the 10-Q report
- 2024-09-30 (date) — End of the reporting period
- 2024-11-04 (date) — Date the filing was made
FAQ
What were TheRealReal's total revenues for the nine months ended September 30, 2024?
The filing does not explicitly state the total revenues for the nine months ended September 30, 2024, but provides segment data for services, products, and shipping and handling.
How did TheRealReal's service revenue compare between Q3 2024 and Q3 2023?
The filing indicates service revenue for the three months ended September 30, 2024, and September 30, 2023, allowing for comparison.
What is the fiscal year end for TheRealReal, Inc.?
The fiscal year end for TheRealReal, Inc. is December 31.
When was TheRealReal, Inc. incorporated?
TheRealReal, Inc. was incorporated in Delaware (DE).
What is the SEC file number for TheRealReal, Inc.'s 1934 Act filings?
The SEC file number for TheRealReal, Inc. is 001-38953.
Filing Stats: 4,568 words · 18 min read · ~15 pages · Grade level 18.6 · Accepted 2024-11-04 16:17:04
Key Financial Figures
- $0.00001 — ange on which registered Common stock, $0.00001 par value REAL The Nasdaq Global Select
Filing Documents
- real-20240930.htm (10-Q) — 1496KB
- real-20240930xex101.htm (EX-10.1) — 26KB
- real-20240930xex102.htm (EX-10.2) — 119KB
- real-20240930xex103.htm (EX-10.3) — 98KB
- real-20240930xex104.htm (EX-10.4) — 118KB
- real-20240930xex311.htm (EX-31.1) — 9KB
- real-20240930xex312.htm (EX-31.2) — 9KB
- real-20240930xex321.htm (EX-32.1) — 5KB
- real-20240930xex322.htm (EX-32.2) — 5KB
- image_0a.jpg (GRAPHIC) — 3KB
- 0001573221-24-000125.txt ( ) — 7066KB
- real-20240930.xsd (EX-101.SCH) — 47KB
- real-20240930_cal.xml (EX-101.CAL) — 76KB
- real-20240930_def.xml (EX-101.DEF) — 206KB
- real-20240930_lab.xml (EX-101.LAB) — 516KB
- real-20240930_pre.xml (EX-101.PRE) — 368KB
- real-20240930_htm.xml (XML) — 834KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Condensed Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Statements of Stockholders' Equity (Deficit) as of September 30, 2024 and 2023 3 Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 5 Notes to Unaudited Condensed Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.
Controls and Procedures
Controls and Procedures 43 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 45 Item 1A.
Risk Factors
Risk Factors 47 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 65 Item 3. Defaults Upon Senior Securities 65 Item 4. Mine Safety Disclosures 65 Item 5. Other Information 65 Item 6. Exhibits 66
Signatures
Signatures 67 i Table of Contents NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations and financial position, business strategy and plans, objectives of management for future operations, long term operating expenses, the opening of additional retail stores in the future, the development of our automation technology, expectations for capital requirements and the use of proceeds from our initial public offering, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this Quarterly Report on Form 10-Q are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These forward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q and are subject to a number of risks, uncertainties and assumptions described in the section titled "Risk Factors" included under Part II, Item 1A below and elsewhere in this Quarterly Report on Form 10-Q, as well as in our other filings with the
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements THE REALREAL, INC. Condensed Balance Sheets (In thousands, except share and per share data) (Unaudited) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 153,179 $ 175,709 Accounts receivable, net 15,953 17,226 Inventory, net 19,921 22,246 Prepaid expenses and other current assets 22,677 20,766 Total current assets 211,730 235,947 Property and equipment, net 95,218 104,087 Operating lease right-of-use assets 79,142 86,348 Restricted cash 14,911 14,914 Other assets 5,251 5,627 Total assets $ 406,252 $ 446,923 Liabilities and Stockholders' Deficit Current liabilities Accounts payable $ 10,795 $ 8,961 Accrued consignor payable 73,242 77,122 Operating lease liabilities, current portion 22,487 20,094 Convertible senior notes, net, current portion 26,600 — Other accrued and current liabilities 92,573 82,685 Total current liabilities 225,697 188,862 Operating lease liabilities, net of current portion 91,274 104,856 Convertible senior notes, net 276,483 452,421 Non-convertible notes, net 131,427 — Warrant liability 19,626 — Other noncurrent liabilities 7,158 4,083 Total liabilities 751,665 750,222 Commitments and contingencies (Note 11) Stockholders' deficit: Common stock, $ 0.00001 par value; 500,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 109,689,946 and 104,670,500 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 1 1 Additional paid-in capital 839,958 816,325 Accumulated deficit ( 1,185,372 ) ( 1,119,625 ) Total stockholders' deficit ( 345,413 ) ( 303,299 ) Total liabilities and stockholders' deficit $ 406,252 $ 446,923 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 Table of Contents THE REALREAL, INC. Condensed Statements of Operations (In thousands, except share and per share data) (Unaudited) Three Months Ended September 30, Ni