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RealReal Revenue Down 10%

San Francisco-based consignment market RealReal Fourth-quarter sales on Monday were $ 84.6 million, down 10% from $ 93.7 million in the year-ago quarter, but total commodity volume (GMV) gradually improved, with new buyers increasing by 21% quarterly. did.

RealReal’s fourth quarter net loss was $ 53 million-Instagram: @therealreal / @cobeyarner

In the fourth quarter, ending December 31, 2020, digital-first outsourced and service revenue was $ 69.1 million, down 16% from $ 82.5 million and direct revenue from $ 11.2 million to $ 15.5 million, 38%. Has increased.

GMV totaled $ 301.2 million for the quarter, with a quarterly improvement of 235 bps, down 1% year-over-year.

The company’s quarterly net loss was $ 53 million ($ 0.60 per share), compared to a loss of $ 21.4 million ($ 0.25 per share) in the year-ago quarter.

“We finished the year with a strong momentum as the trend improved in the fourth quarter and GMV increased 6% year-on-year in December,” said Julie Wainwright, founder and CEO of RealReal. Stated. “GMV in the first quarter of 2021 continued to gain momentum as it grew 14% in the previous quarter until February 19, 2021, and we are optimistic for the next year.”

“Last year, we embarked on a strategic initiative surrounding the expansion of nearby stores, vendor programs and certification centers, which could create a stronger company,” she added.

In the fourth quarter, RealReal continued its strategy of opening a base in Paro and opening smaller stores nearby. Alto, California. Since its inception in the first quarter, the company has also opened offices in Brooklyn, New York and Newport Beach, California.

RealReal plans to open approximately 10 nearby stores by the end of the second quarter.

The company’s full-year revenue was $ 298.3 million, down 6% from $ 318 million in the previous year. This was partly offset by a 4% increase in direct sales to a total of $ 52.6 million, a decrease of 8% in consignment and service revenue. That’s $ 245.6 million.

Annual net loss was $ 177.5 million ($ 2.03 per share), compared to a loss of $ 96.5 million ($ 2.11 per share) in the previous year.

Looking to the future, RealReal expects GMVs to range from $ 301 million to $ 310 million, an increase of 17% to 20% over the previous year.

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RealReal Revenue Down 10%

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