| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Net loss | -3,017 | 51,034 |
| Depreciation and amortization | 24,840 | 16,631 |
| Stock-based compensation expense | 22,172 | 15,567 |
| Reduction of operating lease right-of-use assets | 11,957 | 7,943 |
| Bad debt expense | 2,045 | 1,214 |
| Non-cash interest expense | 1,483 | - |
| Issuance costs allocated to liability classified warrants | 0 | 0 |
| Accretion of debt discounts and issuance costs | 1,663 | 1,060 |
| Provision for inventory write-downs and shrinkage | 2,228 | 1,485 |
| Gain on debt extinguishment | 40,785 | 37,101 |
| Change in fair value of warrant liability | -3,112 | -47,040 |
| Non-cash interest expense | - | 5,483 |
| Loss (gain) related to warehouse fire, net | 362 | 353 |
| Other adjustments | 29 | 36 |
| Accounts receivable, net | 12,426 | 10,020 |
| Inventory, net | 8,343 | 6,678 |
| Prepaid expenses and other current assets | -1,079 | -6,595 |
| Other assets | 499 | 501 |
| Operating lease liability | -16,369 | -10,876 |
| Accounts payable | 663 | 2,357 |
| Accrued consignor payable | -2,915 | -13,709 |
| Other accrued and current liabilities | 7,201 | -14,743 |
| Other noncurrent liabilities | 16 | -152 |
| Net cash used in operating activities | -12,510 | -31,840 |
| Insurance proceeds related to warehouse fire | 2,309 | 2,309 |
| Capitalized proprietary software development costs | 9,658 | 6,483 |
| Purchases of property and equipment | 14,955 | 12,518 |
| Net cash used in investing activities | -22,304 | -16,692 |
| Proceeds from exercise of stock options | 310 | 114 |
| Cash received from settlement of capped calls in conjunction with the note exchanges | - | 1,499 |
| Taxes paid related to restricted stock vesting | 120 | 83 |
| Proceeds from issuance of stock in connection with the employee stock purchase program | 838 | 838 |
| Repayment of 2025 notes | 26,749 | 26,749 |
| Cash received from settlement of capped calls in conjunction with the note exchanges | 1,907 | - |
| Issuance costs paid related to the note exchanges | 5,214 | 5,006 |
| Net cash used in financing activities | -29,028 | -29,387 |
| Net decrease in cash, cash equivalents and restricted cash | -63,842 | -77,919 |
| Cash and cash equivalents at beginning of period | 187,123 | - |
| Cash and cash equivalents at end of period | 123,281 | - |
TheRealReal, Inc. (REAL)
TheRealReal, Inc. (REAL)