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The Real Real The Real Real Announces Third Quarter 2021 Results November 8 , 2021 Third Quarter Gross Merchandise Value Increased 50 % Year - Over - Year to $ 368 million Third Quarter Total Revenue Increased 53 % Year - Over - Year to $ 119 million Third Quarter Gross Profit Per Order Improved $ 4 Year - Over - Year to $ 94 Per Order SAN FRANCISCO , Nov. 08 , 2021 ( GLOBE NEWSWIRE ) -- The RealReal ( Nasdaq : REAL ) -the world's largest online marketplace for authenticated , resale luxury goods - today reported financial results for its third quarter endedSept . 30 , 2021. The company reported strong top - line growth as well as solid bottom - line improvements . Gross merchandise value ( GMV ) increased 50 % and 46 % compared to the same periods in 2020 and 2019 , respectively . Third quarter gross profit per order was approximately $ 94 , an increase of $ 4 per order , or a 4 % improvement year - over - year . In addition , the company achieved leverage in all major expense categories in the third quarter of 2021 compared to prior year . " We are pleased to announce strong results for the third quarter . Our product supply has ramped nicely driven by at - home concierge appointments and our expanded retail footprint . Based on what we know today , we believe the operational and supply impacts to our business from COVID - 19 are effectively behind us , and we are well - positioned for a strong holiday season . Additionally , we believe The Real Real's unique business model is largely insulated from the supply chain shortages and certain of the inflationary impacts many retailers are experiencing , " said Julie Wainwright , founder and CEO of The Real Real . Wainwright continued , " Like many retailers , we experienced certain pressures to our operations during the third quarter , namely elevated shipping costs and staffing challenges in our authentication centers . To address , we implemented multiple initiatives , including shipping diversification and last - mile optimization as well as training and development programs and a continued focus on automation . The investments we made in 2019 and 2020 to move toward expanded automation in our authentication centers have already begun to show a strong return on investment . " During the third quarter , The Real Real announced a new Chief Financial Officer , Robert Julian . As an operations- and strategy - focused CFO , Julian has a track record of driving shareholder value and building world - class finance organizations . " Overall , our business is experiencing very positive trends and we believe these trends will continue through the end of the year and into 2022. While we are in the early innings of delivering operating expense leverage , we believe the company is starting to see the benefits of our previous investments , which will create leverage as we drive toward profitability in the coming quarters , " said Wainwright . In mid - 2021 , the company began reporting GMV and average order value ( AOV ) results , among other top - line metrics , and the company committed to providing these results on a monthly basis through the end of 2021. The company intends to resume a more typical annual and quarterly guidance cadence in 2022 along with committing to a timeline to reach Adjusted EBITDA profitability . Third Quarter Financial Highlights • GMV was $ 368 million , an increase of 50 % and 46 % compared to the same periods in 2020 and 2019 , respectively . • Total Revenue was $ 119 million , an increase of 53 % and 46 % compared to the same periods in 2020 and 2019 , respectively . • Net Loss was ( $ 57 million ) for the third quarter of 2021 , compared to ( $ 44 million ) and ( $ 25 million ) in the same periods in 2020 and 2019 , respectively . • Adjusted EBITDA was ( $ 31.5 million ) or ( 26.5 % ) of total revenue compared to ( 37.6 % ) of total revenue in the third quarter of 2020 and ( 26.0 % ) of total revenue in the third quarter of 2019. Adjusted EBITDA includes $ 0.4 million of COVID - related expenses and $ 1.4 million of redundant occupancy expenses and productivity ramp associated with our relocation of our authentication center from Brisbane , Calif . , to Phoenix . • GAAP basic and diluted net loss per share was ( $ 0.62 ) . • Non - GAAP basic and diluted net loss per share was ( $ 0.47 ) . • At the end of the third quarter , cash and cash equivalents totaled $ 445 million . • GMV growth driven by strong supply growth and buyer engagement in the third quarter of 2021 o Trailing 12 - months ( TTM ) active buyers reached 772,000 , an increase of 25 % compared to the same period in 2020 . o Orders reached 757,000 , an increase of 38 % compared to the same period in 2020 . o AOV was $ 486 , an increase of 9 % compared to the same period in 2020. Higher AOV was driven by a 10 % year - over - year increase in units per transaction ( UPT ) , partially offset by slightly lower average selling price ( ASP ) . UPT benefited from a seasonal shift toward women's ready - to - wear categories . o GMV from repeat buyers was 84 % compared to 83 % in the third quarter of 2020 . • Revenue growth driven by GMV growth and higher direct sales , partially offset by lower take rate o Consignment and Service Revenue was $ 89.5 million , an increase of 39 % and 30 % compared to the same periods in 2020 and 2019 , respectively . o Direct Revenue was $ 29.4 million , an increase of 115 % and 139 % compared to the same periods in 2020 and 2019 , respectively . o Consignment Take Rate decreased 50 basis points year - over - year to 34.9 % , but increased 40 basis points