TheRealReal Q2 revenue +17% to $192.6M; net loss widens 71% on non-operating costs

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~1 min read

Key Changes

• high

  Operating loss narrowed 77% YoY to $2.3M, but net loss widened 71% to $27.2M ($0.23/share) as non-operating/other costs increased $23.5M below the line—the bottom-line deterioration did not come from operations.

  MD&A: Operating Results / Key Signals verify on EDGAR →
• high

  GMV grew 22% to $617M on 13% AOV increase and 8% order growth, but take rate compressed 200bp to 35.9% as sales mix shifted toward higher-value items that carry lower commission rates under the tiered structure.

  MD&A: GMV & Take Rate verify on EDGAR →
• high

  August 2025 note exchange extended debt maturity: $49.5M of 2028 Notes swapped for $43.4M of 2031 Notes, leaving $48.2M in 2028 Notes and $190.1M in 2031 Notes outstanding as of June 30, 2026.

  MD&A: Convertible Notes / Notes verify on EDGAR →