The RealReal turns the corner it spent five years chasing
The RealReal reported a first quarter 2024 adjusted EBITDA loss of 2.3 million dollars, a 25 million dollar improvement year over year, and told investors it expected to reach full-year adjusted EBITDA positive for the first time since its 2019 IPO. Bloomberg noted the company had also delivered its first positive adjusted EBITDA and free cash flow quarter in the prior period.
For a managed-consignment operation this is the whole ballgame. The RealReal absorbs the cost of authenticating, photographing, pricing, and shipping every item, so proving that model can clear breakeven at scale is the argument the entire high-touch resale category has been waiting to make.