The RealReal records strong Q3 financial performance

Luxury consignment platform The RealReal, Inc. delivered a strong third quarter for 2025, reporting accelerated growth and significant margin expansion as the company leans into the luxury resale market.

The online marketplace saw gross merchandise value (GMV) increase 20 percent year-over-year to 520 million dollars, driving a 17 percent rise in total revenue to 174 million dollars, which included a 47 percent surge in direct revenue.

Highlighting the company's focus on efficiency, The RealReal achieved a substantial improvement in profitability, realizing an adjusted EBITDA margin of 5.4 percent, an increase of 380 basis points over the prior year period.

CEO Rati Levesque confirmed the strong results, stating, "We delivered another quarter of accelerating growth and expanded margins, with GMV up 20% and Adjusted EBITDA ahead of expectations," and noted that the company is "raising our full-year outlook" given the momentum. Levesque further elaborated on future plans, saying, "Going forward, we see an opportunity to continue to build trust with our sellers and improve the customer experience through deeper consignor relationships, enhanced tools and insights, and ongoing AI initiatives," as the company aims to "shape the evolution of luxury resale and drive sustained profitable growth."

Raising our full year guidance, the company said, it now expects full year GMV to be in the range of 2.099 to 2.109 billion dollars, revenue in the range of 687 to 690 million dollars and adjusted EBITDA between 37.7 to 38.7 million dollars.