The RealReal has raised its full-year outlook after reporting higher second-quarter revenue, as the luxury resale marketplace continued to benefit from stronger buy and sell engagement.
“We’re upleveling the customer experience, deepening trust and compounding our advantages,” said CEO Rati Levesque.
“Our buyers are spending more, our sellers are more engaged, and the platform connecting them gets smarter every quarter.”
Revenue for the quarter – which ended June 30 – increased 17 per cent year-over-year to $193 million, while gross profit rose to $143 million, up $21 million from the same period last year.
Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization) nearly doubled to $13.5 million, compared with $6.8 million a year earlier.
However, the company’s net loss widened to $27 million from $11 million a year earlier.
“Given the continued strength in our supply trends and the durability of our growth, we are confidently raising our full-year outlook,” added Lavesque.
“We are entering the second half of the year from a position of strength, with a flywheel that is gaining real momentum.”
