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REALBullishEarningsnews
High materiality8/10

The RealReal lifts 2026 outlook as Q2 GMV hits a record high

Aug 6, 2026, 4:12 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

Strength from record GMV and margin expansion, plus raised full-year guidance, typically drives multiple expansion and short-term upside for the equity.

AI summary

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.

  • Q2 2026 GMV $617m, up 22% YoY; all-time quarterly high.
  • Total revenue $193m, up 17%; gross margin 74.4%, up 10bp.
  • Full-year guidance raised; Q3 GMV $610-620m, revenue $194-198m, Adj EBITDA $66-69m.
  • Trailing buyers 1.107m; AOV $659, up 13%.
  • CEO: flywheel gaining momentum; supply strength supports sustained growth and margin expansion.

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