The RealReal/$REAL

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About The RealReal

The RealReal is the largest pure-play luxury resale platform in the US, generating $1.8 billion in 2024 gross merchandise volume and addressing a niche (personal luxury resale) that had previously been serviced by inefficient upscale boutiques and local pawn shops. The company generates revenue via consignment and first-party sales on its online marketplace, and through a small volume of direct sales. With a hands-on approach that actively sources inventory and authenticates every item on its platform, The RealReal is able to justify much higher take rates than peers, working out to roughly 36% of net merchandise value in 2024, which excludes returns, cancellations, and first-party sales.

Ticker

$REAL
Primary listing

Employees

3,011

The RealReal Metrics

BasicAdvanced
$1.1B
-
-$1.07
2.49
-

What the Analysts think about The RealReal

Analyst ratings (Buy, Hold, Sell) for The RealReal stock.

Bulls say / Bears say

In Q2 2025, The RealReal achieved record GMV of $504 million and revenue of $165 million, a 14% increase year-over-year, highlighting strong demand for its luxury resale platform. (GlobeNewswire)
Adjusted EBITDA turned positive at $6.8 million in Q2 2025, an $8.6 million improvement year-over-year, while gross margin grew to 74.3%, signaling greater operational efficiency. (GlobeNewswire)
The RealReal raised its full-year 2025 guidance, projecting GMV of $2.03–$2.045 billion, total revenue of $667–$674 million, and adjusted EBITDA of $29–$32 million, reflecting management’s confidence in sustained growth. (GlobeNewswire)
Despite improvements, The RealReal posted a GAAP net loss of $11 million, representing 6.9% of revenue in Q2 2025, underscoring ongoing bottom-line losses. (GlobeNewswire)
Adjusted EBITDA margin stayed slim at 4.1% for Q2 2025, reflecting limited operating leverage and persistent cost pressures. (GlobeNewswire)
Persistent headwinds in the broader luxury market, such as tariffs and subdued consumer sentiment, could dampen resale luxury demand and limit The RealReal’s growth outlook. (Vogue Business)
Data summarised monthly by Lightyear AI. Last updated on 3 Oct 2025.

The RealReal Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

The RealReal Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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