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.
TheRealReal IncQ2 results beat outlook and full-year guidance was raised on record $617M GMV and 17% revenue growth.
