Rati Levesque

“Q2 was another standout quarter for our business. We delivered GMV of $617 million, an all-time high for TRR, up 22% year-over-year, and marking our fourth consecutive quarter of GMV growth above 20%.”

“Q1 demonstrated the strength of our platform as our financial and operating results exceeded expectations. I'm very proud of the team's execution during the quarter.”

“2025 was a transformative year for The RealReal. We accelerated top line growth throughout the year, culminating in exceptional fourth quarter performance. We delivered $616 million in GMV for the quarter, representing 22% growth while achieving an adjusted EBITDA margin of 11%.”

“Good afternoon, everyone, and welcome to the RealReal's Third Quarter Earnings Conference Call. Our strong third quarter results and our full year outlook for GMV of over $2 billion are a testament to our long-term strategy, which has solidified our position as the market leader in luxury resale.”

“I'm pleased to review our second quarter 2025 results. Q2 was a breakout quarter for The RealReal. We demonstrated progress while further validating the success of our strategic roadmap.”