For the year ending 2025-12-31, REAL had -$21,084K decrease in cash & cash equivalents over the period. $18,366K in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net loss | -41,799 |
| Depreciation and amortization | 33,004 |
| Stock-based compensation expense | 28,943 |
| Reduction of operating lease right-of-use assets | 16,070 |
| Bad debt expense | 2,607 |
| Non-cash interest expense | 8,179 |
| Issuance costs allocated to liability classified warrants | 0 |
| Accretion of debt discounts and issuance costs | 2,206 |
| Property, plant, equipment, and right-of-use asset impairments | 0 |
| Provision for inventory write-downs and shrinkage | 2,214 |
| Gain on debt extinguishment | 40,785 |
| Change in fair value of warrant liability | 35,769 |
| Loss (gain) related to warehouse fire, net | 95 |
| Other adjustments | 39 |
| Accounts receivable | 12,468 |
| Inventory, net | 9,474 |
| Prepaid expenses and other current assets | 796 |
| Other assets | 701 |
| Operating lease liability | -22,184 |
| Accounts payable | 1,613 |
| Accrued consignor payable | 21,779 |
| Other accrued and current liabilities | 12,663 |
| Other noncurrent liabilities | 304 |
| Net cash provided by (used in) operating activities | 37,010 |
| Insurance proceeds related to warehouse fire | 2,309 |
| Capitalized proprietary software development costs | 12,889 |
| Purchases of property and equipment | 18,644 |
| Net cash used in investing activities | -29,224 |
| Proceeds from exercise of stock options | 1,030 |
| Proceeds from issuance of stock in connection with the employee stock purchase program | 1,652 |
| Repayment of 2025 notes | 26,749 |
| Taxes paid related to restricted stock vesting | 160 |
| Cash received from settlement of capped calls in conjunction with the note exchanges | 1,907 |
| Issuance costs paid related to the note exchanges | 6,550 |
| Net cash (used in) provided by financing activities | -28,870 |
| Net decrease in cash, cash equivalents, and restricted cash | -21,084 |
| Beginning of period | 187,123 |
| End of period | 166,039 |
TheRealReal, Inc. (REAL)
TheRealReal, Inc. (REAL)