The RealReal, Inc. Q3 2025 Earnings Recap

REAL Q3 2025 November 11, 2025

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The RealReal delivered strong Q3 results with record GMV of $520 million, reflecting a 20% year-over-year increase, while adjusted EBITDA rose significantly, showcasing enhanced operational efficiencies and growing demand for luxury resale.

Earnings Per Share Miss

$-0.49 vs $-0.06 est.

-708.2% surprise

Revenue Beat

173573000 vs 169038100 est.

+2.7% surprise

Market Reaction

1-Day +38.09%

5-Day +23.55%

30-Day +24.71%

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Key Takeaways

Achieved quarterly GMV of $520 million, up 20% from the previous year, marking a new record.
Adjusted EBITDA rose to $9.3 million, representing 5.4% of total revenue and a 380 basis point improvement year-over-year.
Strong adoption of AI tools led to a 12% increase in productivity among luxury managers, with a focus on high-quality supply.
Active consignor base grew significantly, with over 1 million active buyers achieved for the first time.
The company's strategic focus on personalized service and trust-building with customers is reinforcing brand loyalty and driving repeat transactions.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit REAL on AllInvestView.

Next Q1 2026