TheRealReal Inc — MarketDX

United States

REAL

The RealReal to Open Glendale Store on October 1 as Vintage Demand Jumps 432%

The RealReal Inc. will open a new store in Glendale, California, on October 1, expanding its retail footprint in Southern California. The company's Chief Merchandising Officer, Samantha McCandless, said Glendale is already a destination where people come to discover fashion and luxury, and that The RealReal adds thousands of one-of-one pieces shoppers cannot find anywhere else. The launch follows a 432% jump in consumer demand for vintage items since 2020, as reported in The RealReal's 2026 Resale Report, with Gen Z and Millennials now accounting for more than half of the company's customer base. The new location will offer authentication expertise, one-on-one consignment support, and a curated selection of women's and men's apparel, handbags, fine jewelry, watches and accessories. The expansion carries risks, including high leasing and staffing costs, exposure to pullbacks in discretionary luxury spending, competition from other resale players and conventional retailers, and the need for a steady stream of quality consigned goods. In the second quarter, GAAP net loss widened to $27 million from $11 million a year earlier, or $0.23 per diluted share versus $0.13, while non-GAAP basic and diluted net loss narrowed to $0.01 per share from $0.06.

REAL

REAL · Capital · Negative Q2 GAAP net loss widened to $27 million from $11 million a year earlier.

REAL · Demand · Positive Opening a Glendale store amid a 432% jump in consumer demand for vintage items and Gen Z/Millennial customers now over half its base.

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United States

REAL▲

The RealReal Posts Record $617 Million GMV, Raises Full-Year Guidance

The RealReal reported second quarter results on August 6 that beat its own outlook and prompted the resale luxury marketplace to raise its full year guidance. Gross merchandise value hit an all time high of $617 million, up 22% from a year earlier, while total revenue climbed 17% to $193 million, gross margin reached 74.4%, and Adjusted EBITDA margin jumped to 7%, a 290 basis point improvement. Trailing twelve-month active buyers rose 11% to 1,107,000 and average order value climbed 13% to $659, giving management enough confidence to raise full-year guidance to $2.54 billion to $2.57 billion in GMV and $788 million to $797 million in total revenue, alongside third-quarter Adjusted EBITDA guidance of $13.5 million to $14.5 million. Despite those operating gains, GAAP losses widened, with net loss at $27 million, or 14.1% of total revenue, compared to $11 million, or 6.9% of total revenue, a year earlier, and GAAP basic net loss per share of $0.23 versus $0.10, a swing largely tied to an $(18.6) million non-cash adjustment for the change in fair value of warrant liability. On a non-GAAP basis, basic and diluted net loss per share narrowed to $0.01 from $0.06, and the company said it has not reconciled its forward-looking Adjusted EBITDA figures to GAAP net income or loss.

REAL ▲

REAL · Capital · Positive Q2 results beat outlook and full-year guidance was raised on record $617M GMV and 17% revenue growth.

REAL · Demand · Positive Active buyers rose 11% to 1,107,000 and average order value climbed 13% to $659, driving record GMV.

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The RealReal Is a Better Buy Than RH in 2026, Analyst Says

The RealReal seems to be a better choice today due to its improving financial performance and growing customer base, according to an analysis comparing the luxury resale platform with home furnishings retailer RH. The RealReal reported fiscal 2025 revenue of nearly $692.8 million, a growth rate of roughly 15.4%, while RH posted revenue of approximately $3.4 billion, up about 8.1%. The RealReal operates an online marketplace for authenticated luxury goods on consignment and has a member base of over 40 million, capitalizing on demand for pre-owned designer items among younger consumers. RH is expanding internationally and into hospitality but faces headwinds from a soft housing market and tariffs. The analysis notes that while both target affluent customers, The RealReal's improving operating efficiency and revenue growth make it the preferred pick for 2026.

REAL ▲RH ▼

REAL · Capital · Positive Analyst says The RealReal is a better buy due to improving financial performance and revenue growth

RH · Demand · Negative Faces headwinds from soft housing market and tariffs, making it less preferred

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