The RealReal(REAL)2024-11-04 21:13Leadership Changes - Rati Sahi Levesque appointed as CEO, succeeding John Koryl who has departed the company[1] Financial Performance (Q3 2024) - Preliminary Q3 2024 GMV of $433.1 million, exceeding prior guidance of $410-$430 million[5] - Preliminary Q3 2024 Total Revenue of $147.8 million, exceeding prior guidance of $135-$142 million[5] - Preliminary Q3 2024 Adjusted EBITDA of $2.3 million, exceeding prior guidance of $(2)-$1 million[5] Updated Financial Guidance (FY 2024) - Updated FY 2024 GMV guidance of $1.810-$1.826 billion, up from prior guidance of $1.790-$1.820 billion[5] - Updated FY 2024 Total Revenue guidance of $595-$602 million, up from prior guidance of $580-$595 million[5] - Updated FY 2024 Adjusted EBITDA guidance of $4.5-$7.5 million, up from prior guidance of $0-$6 million[5] Company Overview and Operations - The RealReal has 37 million members and is the world's largest online marketplace for authenticated, resale luxury goods[8] - The company uses AI and machine learning for optimal pricing and has hundreds of in-house experts for authentication[8] Adjusted EBITDA Details - Adjusted EBITDA for Q3 2024 includes adjustments for stock-based compensation, payroll taxes, and one-time expenses[16]