TheRealReal vs ThredUp
TheRealReal reported revenue of $693 million in fiscal 2025, 2.2 times ThredUp's $311 million in fiscal 2025. TheRealReal's revenue grew 15.4% in its latest year, and ThredUp's grew 19.5%. TheRealReal had an operating margin of -3.5%, against -7.0% at ThredUp. Free cash flow was $18 million at TheRealReal and $0 million at ThredUp.
Side by side
| TheRealReal | ThredUp | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $693M | $311M |
| Revenue growth | 15.4% | 19.5% |
| Revenue growth a year, last 5 years | 18.2% | 10.8% |
| Gross margin | 74.6% | 79.4% |
| Operating margin | −3.5% | −7.0% |
| Net margin | −6.0% | −6.5% |
| Free cash flow | $18M | $0M |
| Free cash flow margin | 2.6% | 0.1% |
| Return on capital | — | −54.2% |
| Net debt to EBITDA | −1.1x | — |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 8.0% | 8.7% |
| Last close | $12.87 | $1.28 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | — | — |
| Piotroski F-score | 6 of 9 | 4 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
TheRealRealThredUp
Operating margin
Percent of revenue
TheRealRealThredUp
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
TheRealRealThredUp
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the TheRealReal and ThredUp pages.