The RealReal management commentary: Higher orders, order values drive Q3 2026 GMV growth of 23%
REAL•The RealReal said third-quarter 2026 gross merchandise value rose 23% to $642 million as order volumes and average order value increased. Revenue rose 19% to $206 million, and adjusted EBITDA reached $17 million, an 8.3% margin.
1. Growth and profitability
The RealReal attributed third-quarter 2026 growth to stronger buyer engagement, diversified supply sourcing and technology-driven efficiencies. Revenue rose 19% to $206 million, supported by growth in consignment and direct sales, while gross merchandise value increased 23% to $642 million.
2. Supply and efficiency
Adjusted EBITDA reached $17 million, representing an 8.3% margin, as automation and fixed-cost discipline improved operating leverage. Supply grew at a double-digit rate as sourcing expanded; existing buyers accounted for 44% of new consignors.
