The RealReal Reports 17% Revenue Growth in Third Quarter Despite Losses

The RealReal enters into losses. Despite increasing its turnover by 17.5% in the third quarter (ended September 30th, 2025) the result of the U.S. online retailer of authenticated pre-owned luxury goods has been dragged down by red numbers of $54 million, compared to $17 million in the same period last year. However, in the cumulative first nine months of the year, the losses have been reduced to three million dollars, while in the first nine months of 2024 they were $65.7 million.

According to the company’s financial statements, turnover increased by 17.5% in the third quarter, from $147.8 million last year to $173.6 million this year. For the first nine months of the year, turnover increased by 14.3%, from $436.5 million in 2024 to $498.8 million in 2025.

Gross operating profit (ebitda) was also negative in the third quarter. In the same period last year, ebitda was -$5.59 million, a figure that reached -$39.5 million in the third quarter of this year. However, while in the first nine months of 2024 ebitda was -$31.57 million, in the first nine months of this year it managed to remain positive, with $19.17 million.

The RealReal has increased its turnover from $147.8 million to $173.6 million in the third quarter

The RealReal had reached the halfway point of the year on an upswing, with a first half in which it managed to raise both its revenue and profit by double digits, driven by record second-quarter sales. In fact, the first quarter of the year was the best since its founding in 2011.

In its forecasts, The RealReal is targeting revenue of between $188 million and $191 million for the fourth quarter and between $687 million and $690 million for the full year. As for adjusted ebitda, the company expects it to be between $17.5 million and $18.5 million in the fourth quarter. For the full year, it forecasts adjusted ebitda between $27.7 million and $38.7 million.

The RealReal’s CEO, Rati Levesque, said he sees “an opportunity to further strengthen trust with our vendors and improve the customer experience.“ Among its plans to turn around its accounts are “unlocking supply through growth strategy, driving operational efficiencies and prioritizing service.“