secwatch.observer — SEC 8-K summary
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Issuer:     TheRealReal, Inc. (REAL)
CIK:        0001573221
Form:       8-K
Filed at:   2026-08-06T20:10:35+00:00
Accession:  0001573221-26-000052
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RealReal Q2 GMV $617M (+22% YoY), raises full-year guidance; Adj. EBITDA margin 7.0%
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- Q2 GMV $617M (+22% YoY), total revenue $193M (+17% YoY); record quarterly GMV.
- Adjusted EBITDA $13.5M (7.0% margin) vs $6.8M (4.1%) a year ago; 290 bps margin expansion.
- Net loss $(27)M includes $(18.6)M non-cash warrant adjustment; GAAP EPS $(0.23), non-GAAP EPS $(0.01).
- Raises FY2026 guidance: GMV $2.535-2.565B, revenue $788-797M, Adj. EBITDA $66-69M.
- Trailing 12-month active buyers 1.107M (+11% YoY); AOV $659 (+13% YoY).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1573221/000157322126000052/0001573221-26-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1573221/000157322126000052/real-20260806.htm
  HTML page:      https://secwatch.observer/filing/0001573221-26-000052

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer