TheRealReal, Inc. (REAL) Form 10-Q — Aug 6, 2026
The RealReal reported Q2 2026 revenue of $192.6 million, up roughly 17% year over year, with GMV of $617.3 million up 22%, AOV up 13% to $659, and active buyers up about 11% to 1.11 million. Profitability improved on an operational basis: Adjusted EBITDA nearly doubled to $13.5 million from $6.8 million and the operating loss narrowed to $2.3 million from $9.9 million, but GAAP net loss widened to $27.2 million due to an $18.6 million non-cash charge from the increase in warrant fair value as the stock price rose.
Key figures
- Revenue
- 192571000
- Revenue Yoy
- 16.6%
- Total Assets
- 378287000
- Cash Position
- 119132000
- Shares Outstanding
- 121671115
- Members
- more than 40 million as of June 30, 2026
- Aov q2 2026
- $659 (vs $581, +13%)
- Q2 2026 gmv
- $617.3 million (vs $504.1 million, +22%)
- Q2 2026 nmv
- $470.4 million
- Active buyers
- 1,107 thousand (vs 1,001 thousand)
- Orders q2 2026
- 937 thousand (vs 868 thousand, +8%)
- Cloud commitment
- $12.0 million minimum over three-year term ending 2029
- Take rate q2 2026
- 35.9% (vs 37.9% in Q2 2025)
- Warrant liability
- $74.7 million
- H1 2026 net income
- $11.7 million
- Accumulated deficit
- -$1,283.9 million
- Stockholders deficit
- -$377.7 million
- Warrants outstanding
- 7164796
- H1 2026 total revenue
- $382.3 million (vs $325.2 million, +17.5%)
- Q2 2026 total revenue
- $192.6 million (vs $165.2 million in Q2 2025)
- Q2 2026 operating loss
- $2.3 million (vs $9.9 million loss in Q2 2025)
- Q2 2026 adjusted ebitda
- $13.5 million (vs $6.8 million)
- H1 2026 operating cash flow
- -$15.0 million
Price after filing
Close on the filing date to close N calendar days later (from $12.72). Historical, not a forecast.
AI analysis
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