RH(RH) - 2026 Q1 - Quarterly Results

Exhibit 99.2 FIRST QUARTER 2025 FINANCIAL RESULTS AND SHAREHOLDER LETTER A LETTER FROM OUR CHAIRMAN AND CEO RH REPORTS FIRST QUARTER 2025 RESULTS FIRST QUARTER 2025 HIGHLIGHTS GAAP Net Revenues Increased 12% to $814M GAAP Operating Margin of 6.9%, Adjusted Operating Margin of 7.0% GAAP Operating Income of $56M, Adjusted Operating Income of $57M EBITDA Margin of 12.7%, Adjusted EBITDA Margin of 13.1% Please see the tables below for reconciliations of all GAAP to non-GAAP measures referenced in this press rel ...