The RealReal, Inc. (REAL) Earnings Call Transcripts
The RealReal, Inc.'s Latest Earnings Call - Q2 FY2026
In the second quarter of fiscal 2026, Real Matters Inc. reported consolidated revenues of $47.2 million, reflecting a 27% year-over-year increase, and consolidated net revenue of $13.6 million, up 35%. The company achieved positive adjusted EBITDA of $0.9 million, a significant turnaround from a loss of $1.9 million in the prior year quarter. Management highlighted strong performance in both U.S. Appraisal and U.S. Title segments, with the latter showing a remarkable 127% revenue growth year-over-year, driven by increased market share and new client acquisitions. The guidance remains optimistic, with a focus on scaling operations to meet growing transaction volumes.
Reported metrics
| Metric | Value |
|---|---|
| Consolidated Revenue | $47.2 million (beat) |
| Consolidated Net Revenue | $13.6 million (beat) |
| Adjusted EBITDA | $0.9 million (beat) |
| U.S. Title Revenue | $5.1 million (beat) |
| U.S. Title Net Revenue | $3.3 million (beat) |
| Canadian Net Revenue Margins | 19.9% (positive) |
Guidance from management
Management remains optimistic about the improving fundamentals in the U.S. mortgage market and is focused on scaling operations to meet increasing transaction volumes. They indicated that investments will be necessary to onboard new clients and expand capacity.
What management said
Rob, you're asking me for specific launches. You know we don't talk about that. So to answer your question, Rob, it is -- I won't say whether it is or isn't, but let's say that probability is higher than it's not. It's a -- because I said it's a nonbank servicer that we have not done business with in the past. So this is a brand-new customer of ours. So we'll continue to plug away at the other Tier 1s. We'll continue...
What analysts pressed on
Analysts expressed concerns regarding the competitive landscape and the impact of rising interest rates on origination volumes. There were questions about the sustainability of the current growth trajectory given geopolitical tensions and market uncertainties.
Main topics on the call
- Strong Revenue Growth — Real Matters reported consolidated revenues of $47.2 million, up 27% year-over-year. Management stated, "Our second quarter results built on the strong momentum we saw in the first quarter," indicating sustained growth.
- U.S. Title Segment Performance — The U.S. Title segment saw revenues increase by 127% year-over-year to $5.1 million, driven by a 271% rise in refinance origination revenues. Management noted, "U.S. Title origination volumes were up 268% year-over-year,...
- Improved Adjusted EBITDA — The company achieved adjusted EBITDA of $0.9 million, marking the strongest results in seven quarters. Brian Lang stated, "We posted another quarter of positive adjusted EBITDA," reflecting improved operational efficienc...
- Client Acquisition and Market Share Gains — Real Matters launched 7 new clients in Q2, including a major nonbank servicer. Lang emphasized, "The momentum we have built in U.S. title...positions this segment as an increasingly important growth engine for the compan...
Read the full The RealReal, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About The RealReal, Inc.
The RealReal, Inc. (REAL) is a publicly listed company in the Specialty Retail industry, within the Consumer Discretionary sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 65 calls on record spanning January 30, 2020 to August 6, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 65 The RealReal, Inc. earnings call transcripts on record, spanning January 30, 2020 to August 6, 2026. Based on this history, The RealReal, Inc. reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- REAL
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Consumer Discretionary
- Industry
- Specialty Retail
- Calls on record
- 65
- First call
- January 30, 2020
- Most recent
- August 6, 2026
- Reporting cadence
- quarterly