The RealReal achieves double-digit growth in Q1 2026

The US luxury resale platform The RealReal has reported a strong financial performance for the first quarter ended March 31, 2026. The company experienced double-digit growth across its primary metrics, driven by an expanding active buyer base and increased demand for authenticated second-hand fashion.

Gross merchandise value (GMV) for the first quarter reached 606 million dollars, representing an increase of 24 percent compared to the same period in 2025. Total revenue rose by 19 percent to 190 million dollars, supported by an 18 percent growth in consignment revenue and a 26 percent increase in direct revenue year-over-year.

Profitability and operational efficiency

The US-based marketplace saw its adjusted EBITDA improve by 9 million dollars compared to the first quarter of 2025, reaching 13.10 million dollars. This figure represents 6.90 percent of total revenue, a significant margin expansion from the 2.60 percent recorded in the prior year period.

Gross profit for the period was 141 million dollars, an increase of 21 million dollars over the previous year. However, gross margin saw a slight contraction of 50 percentage points to 74.50 percent. Net income for the quarter stood at 39 million dollars, compared to 62 million dollars in the same period in 2025.

The RealReal president and chief executive officer, Rati Levesque, noted that the results were a product of disciplined execution across three strategic pillars: unlocking supply, service obsession, and operational excellence. “The strength of our platform — our customer relationships, our data, our brand, and our scale — was on display in the first quarter,” Levesque stated.

Shifting buyer demographics and outlook for 2026

The platform reported that its trailing 12 months active buyer count rose 10 percent compared to the first quarter of 2025. Average order value (AOV) also saw a notable rise, climbing 15 percent to 646 dollars. Non-GAAP basic and diluted net loss attributable to common shareholders was 0.01 dollars per share, an improvement from the 0.08 dollars loss reported in the prior year.

Following the performance in the first quarter, the company has increased its full year guidance based on market conditions as of May 7, 2026. For the second quarter (Q2) of 2026, the company expects GMV to fall between 590 million dollars and 600 million dollars, with total revenue projected between 186 million dollars and 189 million dollars.

For the full year 2026, the group now forecasts GMV in the range of 2.42 billion dollars to 2.47 billion dollars. Total revenue for the year is anticipated to reach between 770 million dollars and 784 million dollars, while adjusted EBITDA is expected to land between 59 million dollars and 67 million dollars.