Filing Flows › TheRealReal (REAL) › Q2 2026 › vs Q1 2026
TheRealReal (REAL) Q2 2026 vs Q1 2026 (quarter over quarter)
TheRealReal's revenue rose $2.9M (+2%) from $190M in Q1 2026 to $193M in Q2 2026. The biggest changes: Consignment revenue +$2.3M (+2%); Shipping services revenue +$554K (+3%); Direct revenue −$21K (-0.1%).
TheRealReal, Q2 2026: revenue $193M (+17% year over year), operating margin -1.2%, net loss $27.2M, operating cash flow $1.6M. The chart draws each line against Q1 2026, the increases inside each band.
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Consignment revenue | $148M | $146M | $2.3M | +2% |
| Direct revenue | $25.8M | $25.8M | −$21K | -0.1% |
| Shipping services revenue | $18.6M | $18.0M | $554K | +3% |
| Revenue | $193M | $190M | $2.9M | +2% |
| Net loss | $27.2M | −$38.9M | $66.2M | — |
| Costs & expenses | $220M | $231M | −$11.2M | -5% |
| Operating costs | $195M | $192M | $2.9M | +1% |
| Interest & other, net | $24.8M | −$41.3M | $66.2M | — |
| Income tax | $101K | $108K | −$7K | -6% |
| Cost of revenue | $49.4M | $48.4M | $988K | +2% |
| SG&A | $52.4M | $52.3M | $65K | +0.1% |
| Other operating costs | $93.1M | $91.3M | $1.8M | +2% |
| Operating cash sources | $28.8M | −$55.6M | $84.4M | — |
| Depreciation & amortization | $7.8M | $8.1M | −$271K | -3% |
| Share-based compensation | $7.6M | $6.3M | $1.3M | +21% |
| Working capital & other | $13.4M | −$69.9M | $83.4M | — |
| Net loss absorbed | $27.2M | −$38.9M | $66.2M | — |
| Operating cash flow | $1.6M | −$16.6M | $18.2M | — |
| Capital expenditures | $4.0M | $7.5M | −$3.4M | -46% |
| Negative free cash flow (OCF − capex) | $2.4M | $24.1M | −$21.7M | -90% |
Questions
How much did TheRealReal's revenue grow quarter over quarter in Q2 2026?
TheRealReal's revenue rose $2.9M (+2%) from $190M in Q1 2026 to $193M in Q2 2026.
What drove TheRealReal's revenue change in Q2 2026?
Consignment revenue +$2.3M (+2%); Shipping services revenue +$554K (+3%); Direct revenue −$21K (-0.1%).