RealReal Inc
NASDAQ:REAL

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RealReal Inc
NASDAQ:REAL
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Price: 14.04 USD 0.43% Market Closed
Market Cap: 1.6B USD

RealReal Inc
Investor Relations

The RealReal, Inc. is an online luxury consignment site, which engages in the consignment of luxury goods across multiple categories, including women's, men's, kids, jewelry, watches, home and art. The company is headquartered in San Francisco, California. The company went IPO on 2019-06-28. The firm offers a range of authenticated, primarily pre-owned luxury goods on its online marketplace bearing the brands of luxury and designers. The company offers products across multiple categories, including women's, men's, kids', jewelry and watches, and home and art. Luxury designers on its online marketplace include Cartier, Chanel, Christian Louboutin, Gucci, Hermes, Louis Vuitton, Prada, Rolex, Tiffany & Co., and Valentino. The firm operates a retail store in West Hollywood in Los Angeles, California, Union Square in San Francisco, California, SoHo and the Upper East Side in New York, New York; and Chicago, Illinois. In addition, it operates smaller retail stores on the Upper East Side and in Brooklyn, New York; Newport Beach, California; and Palo Alto, California. The company has approximately 19 retail locations, including 16 shoppable stores.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 10, 2025
AI Summary
Q3 2025

Strong Growth: The RealReal delivered record third quarter GMV of $520 million, up 20% year-over-year, and revenue of $174 million, up 17%.

Margin Expansion: Adjusted EBITDA reached $9.3 million (5.4% of revenue), up 380 basis points YoY, and free cash flow was $14 million, showing improved profitability.

Raised Guidance: Management raised full-year outlooks for GMV ($2.10–2.11 billion), revenue ($687–690 million), and adjusted EBITDA ($37.7–38.7 million).

AI & Operational Efficiency: Proprietary AI-driven processes like Athena are reducing costs and improving speed, now touching 27% of items and targeting 30–40% by year-end.

Active Buyers & Consignors: Active buyers surpassed 1 million (up 7% YoY), and both new and repeat consignors grew double digits.

Marketing & Retail: Expanded investment in marketing and retail events is driving supply growth; 25% of new consignors come from stores.

Medium-Term Outlook: Management expects medium-term sales growth in the high single to low double digits, with continued margin expansion from automation and operational leverage.

Key Financials
GMV
$520 million
Revenue
$174 million
Adjusted EBITDA
$9.3 million
Adjusted EBITDA Margin
5.4%
Gross Profit
$129 million
Gross Margin
74.3%
Consignment Gross Margin
89.3%
Direct Gross Margin
20.9%
Operating Expenses
$136 million
Operating Cash Flow
$19 million
Free Cash Flow
$14 million
Cash, Cash Equivalents and Restricted Cash
$123 million
Capital Expenditures
$6 million
Active Buyers (Trailing 12 Months)
over 1 million
Average Order Value
$584
Take Rate
37.9%
Debt Reduction
$6 million (quarter); $86 million (since 2024 start)
Earnings Call Recording
Other Earnings Calls

Management

Ms. Rati Sahi Levesque
President, CEO & Director
No Bio Available
Mr. Luke T. Friang
Chief Technology & Product Officer
No Bio Available
Mr. Todd A. Suko J.D.
Chief Legal Officer & Secretary
No Bio Available
Mr. Ajay Gopal
Chief Financial Officer
No Bio Available
Mr. Ming Lo
Senior VP, Chief Accounting Officer & Corporate Controller
No Bio Available
Ms. Caitlin Howe J.D.
Senior Vice President of Investor Relations
No Bio Available
Mr. Orr Shakked
Chief Marketing Officer
No Bio Available
Ali Zafer
Senior Vice President of Sales Operations
No Bio Available
Ms. Chatelle Aileen Lynch
Chief People Officer
No Bio Available
Mr. Frank Zhu
Chief Analytics Officer
No Bio Available

Contacts

Address
CALIFORNIA
San Francisco
55 Francisco St Ste 600
Contacts
+18002150566.0
www.therealreal.com