TDUP

The RealReal (REAL) raised its 2026 guidance following strong Q2 results with record GMV of $617M (up 22% YoY) and expanded adjusted EBITDA margins. The company projects 2026 GMV of $2.535B-$2.565B and adjusted EBITDA of $66M-$69M, driven by its Athena AI platform targeting 50% automated item processing by year-end. However, margin gains face headwinds from take-rate pressure due to premium merchandise mix and elevated marketing spending.

The RealReal (REAL) reported Q2 2026 GMV growth of 22% to $617M and doubled adjusted EBITDA, raising its 2026 outlook. However, the stock trades at a premium valuation (10.96X forward PEG) with concerns around take-rate compression, high debt levels, and competition from eBay and ThredUp in the resale market.

The RealReal (REAL) reported strong Q2 2026 results with 22% GMV growth to $617M and 17% revenue growth to $193.3M, raising 2026 guidance. However, the company faces headwinds from declining take rates (down 200 bps to 35.9%) due to higher-ticket merchandise sales, elevated debt levels, and increased marketing expenses. The luxury resale marketplace benefits from improved automation and supply growth but must balance margin expansion with financial leverage concerns.

ThredUp's 2026 Holiday Resale Report reveals that 62% of Americans plan to buy secondhand gifts this season, with 55% preferring one-of-a-kind vintage items over brand-new products. The report shows 42% expect to spend more than last year, and 53% have sold or plan to sell items from their closets to fund holiday purchases. Holiday sales on ThredUp grew 37% from 2023 to 2025, outpacing full-year growth of 22%.