The RealReal, Inc. reported a net loss of $41.8 million for the fiscal year ending December 31, 2025, a significant improvement from the $134.2 million loss recorded in 2024. The company's total revenue for 2025 reached $692.8 million, up from $600.5 million in the previous year, driven primarily by a 13% increase in consignment revenue, which totaled $535.9 million. This growth was attributed to a 15% rise in Gross Merchandise Value (GMV), which amounted to $2.13 billion, reflecting the company's ongoing efforts to expand its luxury resale marketplace.
In terms of operational metrics, The RealReal reported an increase in active buyers, reaching over 1 million, compared to 972,000 in 2024. The average order value (AOV) also rose to $594, up from $545 the previous year. The company noted that repeat consignors accounted for over 80% of its GMV, highlighting the effectiveness of its customer retention strategies. The RealReal's take rate, which represents the percentage of sales retained from consignors, decreased slightly to 37.7% from 38.4% in 2024, primarily due to a shift towards higher-value items.
Strategically, The RealReal has focused on enhancing its technology and operational efficiencies. The company has invested in automation and artificial intelligence to improve its authentication processes and overall service delivery. Additionally, The RealReal operates several retail locations, which serve to attract new customers and provide a physical space for consignors. As of December 31, 2025, the company employed approximately 3,140 full-time equivalent employees, reflecting its commitment to scaling operations.
Looking ahead, The RealReal aims to continue its growth trajectory by expanding its luxury goods offerings and enhancing its marketplace capabilities. The company has expressed optimism about returning to historic levels of revenue growth, although it acknowledges the challenges posed by macroeconomic conditions and competition in the luxury resale market. The RealReal's management remains focused on leveraging its technology and customer relationships to drive future profitability and operational success.
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.
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