Realreal ( (REAL) ) has released its Q3 earnings. Here is a breakdown of the information Realreal presented to its investors.
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The RealReal is the world’s largest online marketplace for authenticated, resale luxury goods, providing a platform for buying and selling high-quality pre-owned luxury items, with a focus on sustainability through its circular economy model.
In its third-quarter earnings report for 2024, The RealReal reported a revenue increase of 11% year-over-year, reaching $148 million. The company also noted improvements in its net loss and adjusted EBITDA, demonstrating a stronger financial performance compared to the previous year.
Key financial highlights include a significant increase in gross profit to $111 million and an improved gross margin of 74.9%. The company also reported a net loss of $18 million, which is an improvement from the $23 million loss reported in the same quarter of 2023. Additionally, adjusted EBITDA turned positive, reaching $2.3 million, a substantial increase from a loss of $7 million in the prior year.
Looking ahead, The RealReal has raised its full-year guidance based on these positive results, reflecting the management’s optimistic outlook. The company’s focus remains on enhancing its unique shopping experience and executing its strategic vision to promote sustainable luxury shopping.
