The RealReal Provides Monthly Business Update
July 06 2021 - 9:00AM
The RealReal (Nasdaq: REAL)—the world’s largest online marketplace
for authenticated, resale luxury goods—today provided a business
update. Q2 GMV was approximately $350 million, an increase of 91%
Y/Y and 53% compared to the same period in 2019. This compares to
the financial outlook the company provided on May 10, 2021, for Q2
GMV in the range of $320 million to $330 million. In addition, Q2
AOV was approximately $520, an increase of 25% Y/Y and 15% compared
to the same period in 2019.
The COVID-19 pandemic continues to change consumer and business
behavior in ways that are difficult to predict. The company
believes that disclosing monthly GMV and AOV will provide
additional transparency regarding the effects of the COVID-19
pandemic on its business. Consistent with SEC guidance regarding
the impacts of the COVID-19 pandemic, the company intends to
provide monthly GMV and AOV through the end of 2021.
The following table represents GMV and AOV growth rates for
April, May, June and Q2 2021, as compared to 2020 and 2019:
|
2021 vs 2020 |
|
2021 vs 2019 |
|
April |
|
May |
|
June |
|
Q2 |
|
April |
|
May |
|
June |
|
Q2 |
GMV |
132 |
% |
|
85 |
% |
|
67 |
% |
|
91 |
% |
|
56 |
% |
|
50 |
% |
|
54 |
% |
|
53 |
% |
AOV |
28 |
% |
|
25 |
% |
|
22 |
% |
|
25 |
% |
|
10 |
% |
|
15 |
% |
|
20 |
% |
|
15 |
% |
The information in this press release reflects preliminary
information available as of this date. The RealReal expects to
release financial results for the second quarter ended June 30,
2021, in early August.
About The RealReal, Inc.
The RealReal is the world’s largest online marketplace for
authenticated, resale luxury goods, with more than 20 million
members. With a rigorous authentication process overseen by
experts, The RealReal provides a safe and reliable platform for
consumers to buy and sell their luxury items. We have hundreds of
in-house gemologists, horologists and brand authenticators who
inspect thousands of items each day. As a sustainable company, we
give new life to pieces by thousands of brands across numerous
categories—including women’s and men’s fashion, fine jewelry and
watches, art and home—in support of the circular economy. We make
selling effortless with free virtual appointments, in-home pickup,
drop-off and direct shipping. We do all of the work for consignors,
including authenticating, using AI and machine learning to
determine optimal pricing, photographing and listing their items,
as well as handling shipping and customer service. At our 17 retail
locations, including our 12 shoppable stores, customers can sell,
meet with our experts and receive free valuations.
Investor Relations Contact:
Paul BieberHead of Investor Relations and Capital
Marketspaul.bieber@therealreal.com
Press Contact:Erin SantyHead of
Communicationspr@therealreal.com
Forward Looking Statements
This press release contains 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. In some cases, you
can identify forward-looking statements by terminology such as
“may,” “will,” “should,” “could,” “expect,” “plan,” anticipate,”
“believe,” “estimate,” “predict,” “intend,” “potential,”
“continue,” “ongoing” or the negative of these terms or other
comparable terminology. These statements include, but are not
limited to, statements about future operating results, including
the amounts of our operating expense and capital expenditure
reductions and our strategies, plans, commitments, objectives and
goals, in particular in the context of the impacts of the COVID-19
pandemic and the recent social unrest. Actual results could differ
materially from those predicted or implied and reported results
should not be considered as an indication of future performance.
Other factors that could cause or contribute to such differences
include, but are not limited to, the impact of the COVID-19
pandemic on our operations, any failure to generate a supply of
consigned goods, pricing pressure on the consignment market
resulting from discounting in the market for new goods, failure to
efficiently and effectively operate our merchandising and
fulfillment operations and other reasons.
More information about factors that could affect the company’s
operating results is included under the captions “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in the company’s most recent Annual Report
on Form 10-K and subsequent quarterly reports on Form 10-Q, copies
of which may be obtained by visiting the company’s Investor
Relations website at https://investor.therealreal.com or the SEC’s
website at www.sec.gov. Undue reliance should not be placed on the
forward-looking statements in this press release, which are based
on information available to the company on the date hereof. The
company assumes no obligation to update such statements.
RealReal (NASDAQ:REAL)
Historical Stock Chart
From Mar 2024 to Apr 2024
RealReal (NASDAQ:REAL)
Historical Stock Chart
From Apr 2023 to Apr 2024