The earnings call reflects a strong positive sentiment characterized by record-setting GMV and revenue, significant adjusted EBITDA improvements, and strong new consignor growth. The integration of AI and operational efficiencies further bolster the positive outlook, although there are concerns about operating cash flow and direct revenue gross margin fluctuations.

Company Guidance -

Q3 2025

During the second quarter of fiscal year 2025, The RealReal demonstrated strong performance with a 14% year-over-year increase in both GMV, reaching a record $504 million, and revenue at $165 million. The company achieved an adjusted EBITDA of $6.8 million, representing a 4.1% margin, which surpassed expectations. The RealReal experienced record numbers of new consignors and double-digit growth in this area for the second consecutive quarter. The company's strategic initiatives, including leveraging AI and automation, enhancing their sales force, and expanding the drop ship initiative, contributed to these results. Based on this momentum, The RealReal raised its full-year guidance, now expecting GMV between $2.030 billion and $2.045 billion, revenue between $667 million and $674 million, and adjusted EBITDA ranging from $29 million to $32 million. The company is focused on sustaining growth, improving profitability, and achieving consistent cash flow.

Record GMV and Revenue Growth

In Q2 2025, The RealReal achieved record GMV of $504 million and record revenue of $165 million, both up 14% year-over-year.

Adjusted EBITDA Surpasses Expectations

Adjusted EBITDA reached $6.8 million, or 4.1% margin, exceeding expectations and reflecting a significant year-over-year increase of $8.6 million.

Strong New Consignor Growth

The company experienced its highest number of new consignors ever, with double-digit growth for the second consecutive quarter.

Operational Efficiency and AI Integration

Athena is now touching 20% of all units, expected to reach 30-40% by year-end, contributing to significant operating expense leverage.

Improved Financial Outlook

The RealReal raised its full-year guidance, projecting GMV of $2.030 billion to $2.045 billion and revenue of $667 million to $674 million, with adjusted EBITDA expected between $29 million and $32 million.

RealReal (REAL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

REAL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 10, 2025	2025 (Q3)	-0.07 / -	-0.09	―	―	―
Aug 07, 2025	2025 (Q2)	-0.09 / -0.06	-0.13	53.85% (+0.07)
May 08, 2025	2025 (Q1)	-0.10 / -0.08	-0.12	33.33% (+0.04)
Feb 20, 2025	2024 (Q4)	-0.04 / -0.01	-0.07	85.71% (+0.06)
Nov 04, 2024	2024 (Q3)	-0.12 / -0.09	-0.15	40.00% (+0.06)
Aug 06, 2024	2024 (Q2)	-0.17 / -0.13	-0.3	56.67% (+0.17)
May 07, 2024	2024 (Q1)	-0.17 / -0.12	-0.36	66.67% (+0.24)
Feb 29, 2024	2023 (Q4)	-0.13 / -0.07	-0.29	75.86% (+0.22)
Nov 07, 2023	2023 (Q3)	-0.27 / -0.15	-0.38	60.53% (+0.23)
Aug 08, 2023	2023 (Q2)	-0.39 / -0.30	-0.4	25.00% (+0.10)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

REAL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$5.51	$6.40	+16.15%
May 08, 2025	$7.29	$5.05	-30.73%
Feb 20, 2025	$7.96	$6.46	-18.84%
Nov 04, 2024	$3.05	$3.66	+20.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does RealReal (REAL) report earnings?

RealReal (REAL) is schdueled to report earning on Nov 10, 2025, After Close (Confirmed).

What is RealReal (REAL) earnings time?

RealReal (REAL) earnings time is at Nov 10, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is REAL EPS forecast?

REAL EPS forecast for the fiscal quarter 2025 (Q3) is -0.07.

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