TheRealReal, Inc. (REAL) Form 8-K — Oct 29, 2026
The RealReal reported record Q3 2026 results with GMV of $642 million (+23%) and total revenue of $206 million (+19%), both all-time quarterly highs, with order growth of 15% marking its strongest quarterly growth since 2022. The company swung to net income of $16 million (7.8% of revenue) versus a $54 million loss a year ago, though $21.2 million of that came from a non-cash warrant liability fair-value gain. Adjusted EBITDA margin expanded 290 basis points to 8.3%, and gross margin improved to 74.9%.
Key figures
- Eps
- 0.13
- Revenue
- 206116000
- Guidance
- Q4 2026 GMV $720-$735M, Total Revenue $218-$222M, Adjusted EBITDA $27.5-$29.0M; FY2026 GMV $2.585-$2.600B, Total Revenue $806-$810M, Adjusted EBITDA $71.1-$72.6M (raised)
- Net Income
- 16006000
- Revenue Yoy
- +19%
- Total Assets
- 403676000
- Cash Position
- 130405000
- Aov
- $629 (+8% YoY)
- Gmv q3
- $642 million (+23% YoY)
- Orders
- 1020000
- Gross margin
- 74.9% (+64 bps YoY)
- Non gaap eps
- $0.02
- Order growth
- +15% YoY
- Adjusted ebitda
- $17.0 million (8.3% of revenue, +290 bps YoY)
- Gaap diluted eps
- -$0.04
- Active buyers ttm
- 1152000
- Warrant liability
- $53,464,000
- Active buyer growth
- +13% YoY
- Stockholders deficit
- -$354,426,000
AI analysis
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