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Seeking Alpha 2022-08-10 11:24:44

The realreal falls 11% after co sees full-year revenue below street estimates

The realreal falls 11% after co sees full-year revenue below street estimates

The RealReal (REAL) is trading down ~11% after the company on Wednesday announced full-year sales forecast below estimates.The company expects full-year revenue between $615M - $635M, way below analysts estimate of $653.70M.However, revenue rose 47.2% Y/Y to $154.44M, and beat estimates by $0.45M, while Q2 Non-GAAP EPS of -$0.40 beat by $0.05.Trailing 12 months active buyers reached 0.89M, an increase of 22% compared to the same period in 2021.Orders rose 39% to 934,000 in the second quarter."Like many companies, we are monitoring the broader economic situation, and we are taking proactive steps to manage costs and cash flows, including by reducing discretionary spending and slowing hiring for open support roles. Given the sales labor-related supply shortfall coming out of the second quarter and the shift in consumer demand more reflective of our pre-COVID mix, we are reducing our full year 2022 guidance," said Robert Julian, Co-Interim CEO and CFO of the company.

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