The RealReal, Inc. reported a total revenue of $189.7 million for the three months ended March 31, 2026, marking a 18.6% increase from $160.0 million in the same period last year. The growth was primarily driven by a significant rise in consignment revenue, which reached $145.9 million, up from $123.8 million, reflecting an 18% increase. Direct revenue also saw a notable increase of 26%, totaling $25.8 million compared to $20.5 million in the prior year. Shipping services revenue rose by 14% to $18.0 million, supported by an increase in the number of orders processed.

Despite the revenue growth, the company reported a net income of $38.9 million, a decrease from $62.4 million in the previous year. This decline was attributed to a significant gain on extinguishment of debt recorded in the prior year, which was not repeated in the current quarter. The company’s operating expenses increased to $143.6 million from $132.8 million, driven by higher marketing and operational costs. The loss from operations improved to $2.3 million from $12.8 million year-over-year, indicating a positive trend in operational efficiency.

In terms of operational metrics, The RealReal reported a gross merchandise value (GMV) of $606.4 million, up 23.6% from $490.4 million in the previous year. The number of active buyers increased to 1.08 million, up from 985,000, while the average order value (AOV) rose to $646 from $564. The company’s take rate, however, decreased to 36.4% from 38.6%, attributed to a shift in sales mix towards higher-value items.

The company continues to focus on strategic developments, including investments in technology and infrastructure to enhance its operational capabilities. As of March 31, 2026, The RealReal had cash and cash equivalents of $124.0 million, down from $151.2 million at the end of 2025. The company also reported an accumulated deficit of $1.26 billion. Looking ahead, The RealReal anticipates continued investment in its growth strategies, including expanding its retail presence and enhancing its technology platform, while managing the challenges posed by macroeconomic conditions and competition in the luxury resale market.

About TheRealReal, Inc.

The RealReal is a leading online marketplace for authenticated, pre-owned luxury goods across categories like fashion, jewelry, and watches. It offers a curated selection from top brands, leveraging proprietary technology, data analytics, and rigorous authentication to build trust. The company operates both online and retail stores, focusing on sustainable recirculation of luxury items and expanding its global, omni-channel presence.

This description was generated via AI from an annual report. Updated 8 months ago.

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