The RealReal lifts 2026 outlook as Q2 GMV hits a record high
Strength from record GMV and margin expansion, plus raised full-year guidance, typically drives multiple expansion and short-term upside for the equity.
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Strength from record GMV and margin expansion, plus raised full-year guidance, typically drives multiple expansion and short-term upside for the equity.
What happened, with direct paths to the underlying reporting
The RealReal posted a strong Q2 2026 with GMV of $617 million, up 22% year over year, and revenue of $193 million, up 17%. Gross margin was 74.4% and Adjusted EBITDA margin reached 7.0%, up 290 basis points. The company raised full-year guidance and provided Q3 targets, signaling a durable growth flywheel and potential earnings leverage from continued margin expansion.
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