The RealReal, Inc. (REAL) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.413 Good afternoon, everyone. My name is Kate, and I will be your conference operator today. 00:00:04.413 -- 00:00:08.595 At this time, I would like to welcome you to the RealReal second quarter 2026 earnings 00:00:08.595 -- 00:00:12.778 call. All lines have been placed on mute. After the speaker's remarks, there will be 00:00:12.778 -- 00:00:16.680 a question and answer session. At this time, I would like to turn the call over to Emily 00:00:16.680 -- 00:00:20.146 Gaca, Senior Director of Investor Relations. 00:00:20.146 -- 00:00:24.848 Thank you, operator. Joining me today to discuss our results for the period ended June 00:00:24.848 -- 00:00:30.369 30th, 2026, our Chief Executive Officer and President, Rati Levesque, 00:00:30.369 -- 00:00:33.850 and Chief Financial Officer, Ajay Gopal. 00:00:33.850 -- 00:00:38.392 Before we begin, I would like to remind you that during today's call, we will make forward-looking 00:00:38.392 -- 00:00:43.233 statements which involve known and unknown risks and uncertainties. 00:00:43.233 -- 00:00:48.755 Our actual results may differ materially from those suggested in such statements. 00:00:48.755 -- 00:00:53.239 You can find more information about these risks, uncertainties and other factors that 00:00:53.239 -- 00:00:58.804 could affect our operating results in the company's most recent Form 10-K and subsequent 00:00:58.804 -- 00:01:02.505 quarterly reports on Form 10-Q. 00:01:02.627 -- 00:01:08.092 Today's presentation will also include certain non-GAAP financial measures, both historical 00:01:08.092 -- 00:01:09.893 and forward-looking. 00:01:09.893 -- 00:01:15.035 We have provided reconciliations for historical non-GAAP financial measures to the most 00:01:15.035 -- 00:01:19.456 comparable GAAP me...