Slide 1: Q2 2026 Financial Results
Q2 2026 Q2 2026 Financial Results Financial Results August 6, 2026 August 6, 2026
Slide 2: Safe Harbor/Disclosure Statement
Q2 2026 FINANCIAL RESULTS Safe Harbor/Disclosure Statement These materials contain forward-looking statements relating to, among other things, the future performance of The RealReal that are based on the company's current expectations, forecasts and assumptions and involve risks and uncertainties. I
Slide 3: Changing The Way People Shop For the Better
Q2 2026 FINANCIAL RESULTS Trusted market leader in luxury resale across diverse categories & brands Changing The Tenured sales team nurtures highly-engaged community of buyers & consignors Way People Shop Rich data and technology expertise driving pricing and authentication Full-service approach red
Slide 4: Clear and Focused Strategy
Q2 2026 2025 FINANCIAL RESULTS Clear and Focused Strategy UNLOCK SUPPLY OBSESS OPERATIONAL THROUGH OVER EXCELLENCE GROWTH PLAYBOOK SERVICE SUPPORTED BY PROPRIETARY TECHNOLOGY AND DATA 4
Slide 5: Proprietary Technology and Data Is A Key Differentiator
Q2 2026 FINANCIAL RESULTS Proprietary Technology and Data Is A Key Differentiator ~15 YEARS OF RICH DATA ON >50 MILLION ITEMS Including luxury item images and attributes, pricing/transactions, and customer behavior PROPRIETARY ADVANCED AI OPERATIONAL SYSTEMS AND ANALYTICS SOPHISTICATED BEST-IN-CLASS
Slide 6: Q2 2026 Key Highlights
Q2 2026 FINANCIAL RESULTS • Record Top-Line Growth: GMV reached an all-time high of $617M, our 4th consecutive quarter above 20% GMV growth, Total Revenue increased to $193M (+17% Y/Y) GROWTH & MARKET • Engagement Accelerated: Trailing 12-Month Active Buyers grew 11% Y/Y, surpassing 1.1M LEADERSHIP
Slide 7: Q2 Financial Summary
Q2 2026 FINANCIAL RESULTS Q2 Financial Summary GMV ($M) ACTIVE BUYERS - TTM (000s) +11% +22% YoY YoY Record GMV, our fourth consecutive quarter Active Buyers surpassed 1.1 million, of growth above 20% year-over-year accelerating for the fourth consecutive quarter 7
Slide 8: Q2 Financial Summary
Q2 2026 FINANCIAL RESULTS Q2 Financial Summary REVENUE ($M) ADJUSTED EBITDA ($M) 7.0% +17% of Total YoY Revenue Revenue growth from Consignment Revenue Adjusted EBITDA was $13.5M, up 15% and Direct Revenue up 26% YoY or 7.0% of Total Revenue, up 290 basis points YoY 8
Slide 9: Q2 Financial Summary
Q2 2026 FINANCIAL RESULTS Q2 Financial Summary GROSS MARGIN OPERATING EXPENSES (% of Total Revenue) OPERATIONS & SELLING, GENERAL +10bps MARKETING TECHNOLOGY & ADMINISTRATIVE YoY Gross Profit grew 17% to Total Operating Expenses leveraged 470 bps YoY as a percent of $143 million as Gross Margin reve
Slide 10: 2026 Outlook
Q2 2026 FINANCIAL RESULTS 2026 Outlook $610M - $620M $2.54B - $2.57B Full Year 2026 GMV Q3 2026 $194M - $198M REVENUE $788M - $797M ADJUSTED $13.5M - $14.5M $66M - $69M EBITDA 10
Slide 11: Key Advantages and Differentiators
Q2 2026 2025 FINANCIAL RESULTS Key Advantages LEADER IN LUXURY RESALE INDUSTRY and Differentiators scaled platform with strong brand equity and rich data assets A LARGE AND GROWING TAM supported by unique positioning and strong secular tailwinds DIFFERENTIATED MODEL built on foundation of trust, exp
Slide 12: Appendix
The RealReal Appendix
Slide 13: Obsessions: Brands Trending on TRR
Q2 2026 FINANCIAL RESULTS Q2 2026 Obsessions: Brands Trending on TRR FPO FPO Maximalist Top Tier Investments Gen Z Favorites Modern Luxury Roberto Cavalli Hermès Miu Miu Khaite Dries van Noten Chanel Coach The Row Emilio Pucci Rolex Staud TOTEME Missoni Bvlgari Cult Gaia Brunello Cucinelli Versace P
Slide 14: Key Financial Metrics
Q2 2026 FINANCIAL RESULTS KEY FINANCIAL METRICS 14
Slide 15: Income Statement
Q2 2026 FINANCIAL RESULTS INCOME STATEMENT 15
Slide 16: Balance Sheet 1 of 2
Q2 2026 FINANCIAL RESULTS BALANCE SHEET 1 of 2 16
Slide 17: Balance Sheet 2 of 2
Q2 2026 FINANCIAL RESULTS BALANCE SHEET 2 of 2 17
Slide 18: Free Cash Flow Reconciliation of GAAP to Non-GAAP Results
Q2 2026 FINANCIAL RESULTS FREE CASH FLOW RECONCILIATION OF GAAP TO NON-GAAP RESULTS 18
Slide 19: Adjusted EBITDA Reconciliation of GAAP to Non-GAAP Results
Q2 2026 FINANCIAL RESULTS ADJUSTED EBITDA RECONCILIATION OF GAAP TO NON-GAAP (1) RESULTS (1) The change in fair value of warrant liability for the three and six months ended June 30, 2026 and June 30, 2025 reflects the remeasurement of the Warrants issued by the Company in connection with the 2024 N
Slide 20: The RealReal
The RealReal