What the filings state
Beyond the income statement, these are the figures the reports give, in their own words.
- The RealReal: average order value $594
AOV $594 $545 $523
Form 10-K for the year ended 31 December 2025, read 13 October 2026 (opens in a new tab)
Use these figures
Open a calculator with this vertical’s figures already entered, then replace them with your own.
- Free shipping threshold calculator, at this vertical's median gross margin77.0% as the margin on product revenue. Gross margin is before picking and card fees, so lower it by yours.
How to read them
Gross profit divided by revenue, both from the income statement of the annual report. Companies differ in what they put in cost of sales: some include store occupancy, warehousing or shipping to the customer, others report those below gross profit. Read a company's margin next to its own accounting policy before comparing two.
The median of these 2 companies is 77.0%, between The RealReal at 74.6% and ThredUp at 79.4%. They are whole companies, most with stores or wholesale beside their own site, so treat the figures as reference points for your own costs.