The RealReal, Inc.

Good day, and thank you for standing by. Welcome to the Real Reels Q4 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone, and you will then hear an automated message advising you your hand is raised. To withdraw your question, press star 1 1 again. Please be advised that today's conference is being recorded. I would like to now hand it over to Caitlin Howe, Head of Investor Relations. Caitlin, you have the floor.

Thank you, Operator. Joining me today to discuss our results for the period ended December 31st, 2022, are President and Chief Operating Officer, Rati Levesque, and Chief Financial Officer, Robert Julian. Also joining us on the call today is our new Chief Executive Officer of The RealReal, John Corral. John joined the company earlier this month, and we are very excited to have him on board. Before we begin, I would like to remind you that during today's call, we will make forward-looking statements which involve known and unknown risks and uncertainties. Our actual results may differ materially from those suggested in such statements. You can find more information about these risks, uncertainties, and other factors that could affect our operating results in the company's most recent Form 10-K and subsequent quarterly reports on Form 10-Q. Today's presentation will also include certain non-GAAP financial measures, both historical and forward-looking, for which historical financial measures we have provided reconciliations to the most comparable GAAP measures in our earnings press release. In addition to the earnings press release, we issued a stockholder letter earlier today, both of which are available on our investor relations website. I would now like to turn the call over to John Corral, Chief Executive Officer of The RealReal, to introduce himself and provide a brief overview of his background. Then, John will pass it over to Rocky and Robert for an update on the business. And finally, we will go into our Q&A session. John?

Thanks, Caitlin, and welcome everyone to the call. As Caitlin mentioned, I wanted to take a few moments to introduce myself and provide some further insight into my background. First, let me start by saying I am thrilled to have joined The RealReal. The company's approach, customer breadth, and brand recognition within luxury resale are second to none. I am excited about our digital-first company with growth tailwinds in terms of consumer trends and demographics, along with an authentic ESG story. Perhaps most importantly, the talent that I have encountered so far at The RealReal is inspiring. I see a bright future for the business. As we all know, the company's valuation is under pressure at the moment, and achieving profitability is the company's focus. I have built a 30-year career finding efficiencies and driving profitable growth at e-commerce businesses. Let me give you a few examples. Most recently, I led Canadian Tire's online business through a period of substantial growth. We demonstrated operational excellence through the COVID-19 pandemic amid a massive surge in demand and disruptions to our store operations. We accomplished significant cost reductions while improving service levels for our millions of e-commerce customers. We improved the unit economics of the business with a particular emphasis on fulfillment and digital marketing efficiency. Similarly, during my tenure at Neiman Marcus, we drove considerable growth of our digital platform through new marketing vehicles, site experience improvements, and omni-channel efficiencies. We balanced growth with profitability during this period, focusing on marketing to the right customers, delivering them the right experience, and doing so in the most efficient way possible. This takes lots of testing and quickly scaling small wins to produce significant results. Now, I have no illusions that the RealReal's path to profitability will be achieved overnight or with only minimal effort. Rather, these types of accomplishments take both time and energy. I believe I have the knowledge and experience within a retail tech environment to effectively lead the company through this process. Based on what I've seen in my first month at The RealReal, I am confident we can achieve profitability in the near future. I am energized to work with the team to continue to up-level our consignor experience as we relentlessly pursue our mission of extending the life of luxury. I also look forward to getting to know the investors and equity research analysts who support us. Thank you, and I look forward to speaking again in May. I'll now pass it over to Rati to give you an update on our business trends and key initiatives.