Benzinga | Aug 10, 2021 05:56AM EDT

RealReal Q2 Revenue Misses Consensus, Loss Widens

* RealReal Inc (NASDAQ:REAL) reported second-quarter FY21 revenue growth of 82.8% year-on-year, to $104.91 million, missing the analyst consensus of $107.25 million.

* Consignment and service revenue rose 76.3% Y/Y, and Direct revenue increased 113.4%.

* The gross merchandise volume (GMV) increased 91% Y/Y to $350 million, with 84.5% of GMV from repeat buyers.

* Gross profit rose 78% Y/Y to $63.4 million with a profit margin of 60.4%. Gross profit per order improved 10.6% Q/Q to $94.

* The loss from operations widened to $(64.8) million. Adjusted EBITDA was ($32.9) million.

* The company held $491.6 million in cash and equivalents as of June 3, 2021.

* Adjusted loss per share of $(0.50) missed the analyst consensus of $(0.47).

* Price action: REAL shares closed lower by 0.73% at $16.23 on Monday.