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The RealReal reports record revenue and GMV as Gen Z embraces consignment

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The RealReal reports record revenue and GMV as Gen Z embraces consignment

The RealReal reported record results across three major metrics in the third quarter of 2026. Gross merchandise value (GMV), revenue and orders all reached record highs in the quarter ended Sept. 30.

Q3 GMV reached $641.5 million, up 23% year over year. Total revenue was $206.1 million, up 19%. In the same period, orders grew 15% to 1.02 million, the strongest quarterly order growth since 2022. For the first time, The RealReal exited a third quarter with positive year-to-date operating cash flow, which had historically been achieved in fiscal fourth quarters.

The RealReal, which is a luxury resale marketplace for fashion, jewelry and home furnishings, ranks No. 36 in the Global Online Marketplaces Database. The database is Digital Commerce 360’s ranking of the 100 largest marketplaces by third-party GMV.

Trailing 12-month active buyers reached 1.152 million in Q3, up 13% year over year. The RealReal noted that those customers are spending more and shopping more often, too. Active buyers placed 15% more orders in Q3, and average order value (AOV) increased 8% year-over-year to $629. 

“These results point to a resilient customer base buying more across a range of price points,” The RealReal CEO Rati Levesque told investors.

Gen Z is the company’s fastest-growing cohort, with customers up more than 60% over three years.

S. according to a 2026 Bank of America report . “We are built to grow with them,” she said on the earnings call.



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