Form 8-K

8-K — TheRealReal, Inc.

Accession: 0001573221-26-000064

Filed: 2026-10-29

Period: 2026-10-29

CIK: 0001573221

SIC: 5900 (RETAIL-MISCELLANEOUS RETAIL)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — real-20261029.htm (Primary)

EX-99.1 (real-20261029xex991pressre.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: real-20261029.htm · Sequence: 1

real-20261029

0001573221falseTheRealReal, Inc.55 Francisco StreetSuite 400San FranciscoCA9413300015732212026-10-292026-10-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________________________________________________________________

FORM 8-K

_______________________________________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2026

_______________________________________________________________________

The RealReal, Inc.

(Exact name of Registrant as Specified in Its Charter)

_______________________________________________________________________

Delaware 001-38953 45-1234222

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

55 Francisco Street Suite 400

San Francisco, CA 94133

(855) 435-5893

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

_______________________________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common stock, $0.00001 par value

REAL

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition.

On October 29, 2026, The RealReal, Inc. (“The RealReal”) issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number

Description

99.1

Press Release dated October 29, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

The RealReal, Inc.

Date: October 29, 2026

By: /s/ Ajay Madan Gopal

Ajay Madan Gopal

Chief Financial Officer

EX-99.1

Filename: real-20261029xex991pressre.htm · Sequence: 2

Document

Exhibit 99.1

THE REALREAL ANNOUNCES THIRD QUARTER 2026 RESULTS

Third Quarter Delivers Record Revenue, GMV and Orders as Active Buyer Growth Accelerates and Margins Expand; Company Raises Full Year Outlook

SAN FRANCISCO, October 29, 2026 - The RealReal, Inc. (Nasdaq: REAL)—the world’s largest online marketplace for authenticated, resale luxury goods—today reported financial results for its third quarter ended September 30, 2026. Third quarter 2026 gross merchandise value (GMV) and total revenue increased 23% and 19% compared to the third quarter of 2025, respectively. Consignment revenue grew 18% compared to the prior year period, and Direct Revenue grew 19% year-over-year in the third quarter. During the quarter, gross margin of 74.9% improved 64 basis points compared to the same period in 2025. Third quarter Adjusted EBITDA margin was 8.3%, an increase of 290 basis points versus the prior year period.

"Q3 was another record quarter for The RealReal, with quarterly all-time highs in GMV, revenue and orders, with our strongest quarterly order growth since 2022, up 15% versus last year,” said Rati Levesque, CEO of The RealReal. “Alongside that growth we expanded adjusted EBITDA margin by 290 basis points, and earlier this month we completed a key refinancing extending our debt maturity profile and positioning the business to continue deleveraging in the years ahead.”

Levesque continued, “Underlying those results is a fundamental change in how people shop for luxury fashion, and our purpose-built platform is helping to drive it. Customers increasingly start their journey with us and engage well beyond the transaction, to discover what to buy, to track what they own, and to decide when to sell. That is the new operating system for luxury fashion ownership, and that is what we are building. Our performance this quarter reinforces our conviction in the direction of the business and our ability to execute, and we are raising our full-year outlook."

Third Quarter Highlights

•GMV was $642 million, an increase of 23% compared to the same period in 2025

•Total Revenue was $206 million, an increase of 19% compared to the same period in 2025

•Gross Profit was $154 million, an increase of $25 million compared to the same period in 2025

•Gross Margin was 74.9%, an increase of 64 basis points compared to the same period in 2025

•Net Income (Loss) was $16 million or 7.8% of total revenue, compared to $(54) million or (31.1)% of total revenue in the same period in 2025. Third Quarter 2026 Net Income includes a $21.2 million non-cash adjustment as a result of the change in fair value of warrant liability.

•Adjusted EBITDA was $17.0 million or 8.3% of total revenue compared to $9.3 million or 5.4% of total revenue in the same period in 2025

•GAAP basic net income (loss) per share was $0.13 compared to $(0.47) in the prior year period and GAAP diluted net loss per share was $(0.04) compared to $(0.49) in the prior year period

•Non-GAAP basic and diluted net income (loss) attributable to common stockholders per share was $0.02 compared to $(0.04) in the prior year period

•Top-line-related Metrics

◦Trailing twelve months active buyers was 1,152,000, an increase of 13% compared to the same period in 2025

◦Average order value (AOV) was $629, an increase of 8% versus the same period in 2025

Q4 and Full Year 2026 Guidance

Based on market conditions as of October 29, 2026, we are raising our full year guidance. Additionally, we are providing guidance for fourth quarter 2026 GMV, Total Revenue and Adjusted EBITDA, which is a Non-GAAP financial measure.

We have not reconciled forward-looking Adjusted EBITDA to net income (loss), the most directly comparable GAAP measure, because we cannot predict with reasonable certainty the ultimate outcome of certain components of such reconciliations including payroll tax expense on employee stock transactions that are not within our control, or

other components that may arise, without unreasonable effort. For these reasons, we are unable to assess the probable significance of the unavailable information, which could materially impact the amount of future net income (loss).

Q4 2026

Full Year 2026

GMV $720 - $735 million $2.585 - $2.600 billion

Total Revenue $218 - $222 million $806 - $810 million

Adjusted EBITDA $27.5 - $29.0 million

$71.1 - $72.6 million

Webcast and Conference Call

The RealReal will host a conference call to review the company’s third quarter results beginning at approximately 2:00 p.m. Pacific Time today (5:00 p.m. Eastern Time). A live webcast of the conference call and accompanying materials will be available online at investor.therealreal.com. A replay of the webcast will be available at the same location. To access the conference please register using this link:

https://the-realreal-earnings-call-q3-2026.open-exchange.net/registration.

About The RealReal, Inc.

The RealReal is the world’s largest online marketplace for authenticated resale luxury goods, trusted by a community of 45 million members. Its full-service consignment model across fashion, fine jewelry and watches, art and home, makes it easy for customers to buy and sell luxury wherever they are. The Company combines rigorous, expert-led authentication with AI and proprietary technology to optimize operations and pricing while streamlining the customer experience. Backed by 15 years of proprietary data and more than 55 million items sold, The RealReal has become the preferred destination for modern luxury resale, redefining the luxury lifecycle.

Investor Relations Contact:

IR@therealreal.com

Press Contact:

PR@therealreal.com

Forward Looking Statements

This press release contains forward-looking statements relating to, among other things, the future performance of The RealReal that are based on the company's current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “target,” “contemplate,” “project,” “believe,” “estimate,” “predict,” “intend,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology. These statements include, but are not limited to, statements about future operating and financial results, including our strategies, plans, commitments, objectives and goals, in particular in the context of uncertainty surrounding macro-economic trends, financial guidance, anticipated growth in 2026, the anticipated impact of generative AI, and financial targets, goals and projections. Actual results could differ materially from those predicted or implied and reported results should not be considered as an indication of future performance. Other factors that could cause or contribute to such differences include, but are not limited to, our ability to successfully complete, and realize the anticipated benefits of, our plans to strengthen our balance sheet, inflation, macroeconomic uncertainty, geopolitical instability, any failure to generate a supply of consigned goods, pricing pressure on the consignment market resulting from discounting in the market for new goods, failure to efficiently and effectively operate our merchandising and fulfillment operations, labor shortages and other reasons.

More information about factors that could affect the company's operating results is included under the captions “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in the company's most recent Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q, copies of which may be obtained by visiting the company's Investor Relations website at https://investor.therealreal.com or the SEC's website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the company on the date hereof. The company assumes no obligation to update such statements.

Non-GAAP Financial Measures

To supplement our unaudited and condensed financial statements presented in accordance with generally accepted accounting principles (“GAAP”), this earnings release and the accompanying tables and the related earnings conference call contain certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA as a percentage of total revenue (“Adjusted EBITDA Margin”), free cash flow, non-GAAP net income (loss) attributable to common stockholders, and non-GAAP net income (loss) per share attributable to common stockholders, basic and diluted. We have provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures in this earnings release.

We do not, nor do we suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors should also note that non-GAAP financial measures we use may not be the same non-GAAP financial measures, and may not be calculated in the same manner, as that of other companies, including other companies in our industry.

Adjusted EBITDA is a key performance measure that our management uses to assess our operating performance. Because Adjusted EBITDA facilitates internal comparisons of our historical operating performance on a more consistent basis, we use this measure as an overall assessment of our performance, to evaluate the effectiveness of our business strategies and for business planning purposes. Adjusted EBITDA may not be comparable to similarly titled metrics of other companies.

We calculate Adjusted EBITDA as net income (loss) before interest income, interest expense, provision (benefit) for income taxes, depreciation and amortization, further adjusted to exclude stock-based compensation, employer payroll tax expense on employee stock transactions, gain on extinguishment of debt, change in fair value of warrant liabilities and certain one-time expenses. The employer payroll tax expense related to employee stock transactions is tied to the vesting or exercise of underlying equity awards and the price of our common stock at the time of vesting, which may vary from period to period independent of the operating performance of our business. Adjusted EBITDA has certain limitations as the measure excludes the impact of certain expenses that are included in our statements of operations that are necessary to run our business and should not be considered as an alternative to net income (loss) or any other measure of financial performance calculated and presented in accordance with GAAP.

In particular, the exclusion of certain expenses in calculating Adjusted EBITDA and Adjusted EBITDA Margin facilitates operating performance comparisons on a period-to-period basis and, in the case of exclusion of the impact of stock-based compensation and the related employer payroll tax expense on employee stock transactions, excludes an item that we do not consider to be indicative of our core operating performance. Investors should, however, understand that stock-based compensation and the related employer payroll tax expense will be a significant recurring expense in our business and an important part of the compensation provided to our employees. Accordingly, we believe that Adjusted EBITDA and Adjusted EBITDA Margin provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors.

Free cash flow is a non-GAAP financial measure that is calculated as net cash (used in) provided by operating activities less net cash used to purchase property and equipment and capitalized proprietary software development costs. We believe free cash flow is an important indicator of our business performance, as it measures the amount of cash we generate. Accordingly, we believe that free cash flow provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management.

Non-GAAP net income (loss) per share attributable to common stockholders, basic and diluted is a non-GAAP financial measure that is calculated as GAAP net income (loss) plus stock-based compensation expense, provision (benefit) for income taxes, payroll tax expense on employee stock transactions, gain on extinguishment of debt, change in fair value of warrant liabilities and certain one-time expenses divided by weighted average shares outstanding. We believe that making these adjustments before calculating per share amounts for all periods presented provides a more meaningful comparison between our operating results from period to period.

THE REALREAL, INC.

Statements of Operations

(In thousands, except share and per share data)

(Unaudited)

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025

Revenue:

Consignment revenue $ 159,145 $ 134,429 $ 453,254 $ 386,863

Direct revenue 27,381 22,928 78,976 63,877

Shipping services revenue 19,590 16,216 56,172 48,054

Total revenue 206,116 173,573 588,402 498,794

Cost of revenue:

Cost of consignment revenue 17,042 14,318 48,564 41,033

Cost of direct revenue 22,245 18,130 62,936 50,550

Cost of shipping services revenue 12,427 12,205 37,964 35,592

Total cost of revenue 51,714 44,653 149,464 127,175

Gross profit 154,402 128,920 438,938 371,619

Operating expenses:

Marketing 18,204 14,146 55,143 45,549

Operations and technology 78,510 70,703 225,935 206,667

Selling, general and administrative 56,216 51,621 160,945 149,609

Total operating expenses (1)

152,930 136,470 442,023 401,825

Income (loss) from operations 1,472 (7,550) (3,085) (30,206)

Change in fair value of warrant liability 21,224 (43,928) 49,976 3,112

Gain on extinguishment of debt — 3,684 — 40,785

Interest income 846 818 2,749 3,301

Interest expense (7,483) (7,085) (22,026) (20,443)

Other income, net 58 34 415 642

Income (loss) before provision for income taxes 16,117 (54,027) 28,029 (2,809)

Provision for income taxes 111 24 320 208

Net income (loss) attributable to common stockholders $ 16,006 $ (54,051) $ 27,709 $ (3,017)

Net income (loss) per share attributable to common stockholders

Basic $ 0.13 $ (0.47) $ 0.23 $ (0.03)

Diluted $ (0.04) $ (0.49) $ (0.18) $ (0.38)

Weighted average shares used to compute net income (loss) per share attributable to common stockholders

Basic 122,116,628 115,893,232 120,897,549 113,793,229

Diluted 128,147,178 116,772,661 126,983,659 121,904,021

(1) Includes stock-based compensation as follows:

Marketing $ 403 $ 27 $ 1,170 $ 754

Operations and technology 2,354 2,294 6,911 7,195

Selling, general and administrative 4,415 4,284 12,939 14,223

Total $ 7,172 $ 6,605 $ 21,020 $ 22,172

THE REALREAL, INC.

Condensed Balance Sheets

(In thousands, except share and per share data)

(Unaudited)

September 30,

2026 December 31,

2025

Assets

Current assets

Cash and cash equivalents $ 130,405 $ 151,231

Accounts receivable, net 27,870 23,822

Inventory, net 37,449 30,843

Prepaid expenses and other current assets 22,480 21,595

Total current assets 218,204 227,491

Property and equipment, net 104,204 96,148

Operating lease right-of-use assets 59,835 64,641

Restricted cash 14,777 14,808

Other assets 6,656 5,945

Total assets $ 403,676 $ 409,033

Liabilities and Stockholders’ Deficit

Current liabilities

Accounts payable $ 13,822 $ 14,565

Accrued consignor payable 108,887 111,497

Operating lease liabilities, current portion 23,172 24,645

Other accrued and current liabilities 115,032 113,533

Total current liabilities 260,913 264,240

Operating lease liabilities, net of current portion 60,120 66,793

Convertible Senior Notes, net 231,898 230,833

Non-convertible notes, net 147,665 140,980

Warrant liability 53,464 114,353

Other noncurrent liabilities 4,042 7,352

Total liabilities 758,102 824,551

Stockholders’ deficit:

Common stock, $0.00001 par value; 500,000,000 shares authorized as of September 30, 2026, and December 31, 2025; 122,650,017 and 118,318,917 shares issued and outstanding as of September 30, 2026, and December 31, 2025, respectively

1 1

Additional paid-in capital 913,490 880,107

Accumulated deficit (1,267,917) (1,295,626)

Total stockholders’ deficit (354,426) (415,518)

Total liabilities and stockholders’ deficit $ 403,676 $ 409,033

THE REALREAL, INC.

Condensed Statements of Cash Flows

(In thousands)

(Unaudited)

Nine Months Ended September 30,

2026

2025

Cash flows from operating activities:

Net income (loss) $ 27,709 $ (3,017)

Adjustments to reconcile net income (loss) to cash used in operating activities:

Depreciation and amortization 23,991 24,840

Stock-based compensation expense 21,020 22,172

Reduction of operating lease right-of-use assets 12,997 11,957

Bad debt expense 1,922 2,045

Non-cash interest expense (414) 1,483

Accretion of debt discounts and issuance costs 1,573 1,663

Provision for inventory write-downs and shrinkage 3,073 2,228

Gain on debt extinguishment — (40,785)

Change in fair value of warrant liability (49,976) (3,112)

Loss (gain) related to warehouse fire, net — (362)

Other adjustments 15 (29)

Changes in operating assets and liabilities:

Accounts receivable, net (5,970) (12,426)

Inventory, net (9,679) (8,343)

Prepaid expenses and other current assets (885) 1,079

Other assets (770) (499)

Operating lease liability (16,337) (16,369)

Accounts payable 235 663

Accrued consignor payable (2,610) (2,915)

Other accrued and current liabilities 5,851 7,201

Other noncurrent liabilities (1,777) 16

Net cash provided by (used in) operating activities 9,968 (12,510)

Cash flow from investing activities:

Insurance proceeds related to warehouse fire — 2,309

Capitalized proprietary software development costs (10,889) (9,658)

Purchases of property and equipment (21,158) (14,955)

Net cash used in investing activities (32,047) (22,304)

Cash flow from financing activities:

Proceeds from exercise of stock options 322 310

Taxes paid related to restricted stock vesting (118) (120)

Repayment of 2025 Notes — (26,749)

Proceeds from issuance of stock in connection with the Employee Stock Purchase Program 1,018 838

Cash received from settlement of capped calls in conjunction with the 2025 Note Exchanges — 1,907

Issuance costs paid related to the 2025 Note Exchanges — (5,214)

Net cash provided by (used in) financing activities 1,222 (29,028)

Net decrease in cash, cash equivalents and restricted cash (20,857) (63,842)

Cash, cash equivalents and restricted cash

Beginning of period 166,039 187,123

End of period $ 145,182 $ 123,281

The following table reflects the reconciliation of net income (loss) to Adjusted EBITDA for each of the periods indicated (in thousands):

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025

Adjusted EBITDA Reconciliation:

Net income (loss) $ 16,006 $ (54,051) $ 27,709 $ (3,017)

Net income (loss) (% of revenue) 7.8 % (31.1) % 4.7 % (0.6) %

Depreciation and amortization 8,074 8,209 23,991 24,840

Interest income (846) (818) (2,749) (3,301)

Interest expense 7,483 7,085 22,026 20,443

Provision for income taxes 111 24 320 208

EBITDA 30,828 (39,551) 71,297 39,173

Stock-based compensation 7,172 6,605 21,020 22,172

Payroll tax expense on employee stock transactions 234 285 1,270 1,084

Gain on extinguishment of debt (1)

— (3,684) — (40,785)

Change in fair value of warrant liability (2)

(21,224) 43,928 (49,976) (3,112)

One-time expenses (3)

— 1,711 — 1,711

Adjusted EBITDA $ 17,010 $ 9,294 $ 43,611 $ 20,243

Adjusted EBITDA (% of revenue) 8.3 % 5.4 % 7.4 % 4.1 %

(1) The gain on extinguishment of debt for the three and nine months ended September 30, 2025 reflects the difference between the carrying value of the 2025 Exchanged Notes and the fair value of the 2031 Notes.

(2) The change in fair value of warrant liability for the three and nine months ended September 30, 2026 and September 30, 2025 reflects the remeasurement of the Warrants issued by the Company in connection with the 2024 Note Exchange in February 2024.

(3) One time expenses for the three and nine months ended September 30, 2025 consist of employee severance costs associated with a departmental reorganization, including certain executives, recorded within Marketing and Selling, General and Administrative expenses on the condensed statements of operations.

A reconciliation of GAAP net income (loss) to non-GAAP net income (loss) attributable to common stockholders, the most directly comparable GAAP financial measure, in order to calculate non-GAAP net income (loss) attributable to common stockholders per share, basic and diluted, is as follows (in thousands, except share and per share data):

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025

Net income (loss) $ 16,006 $ (54,051) $ 27,709 $ (3,017)

Stock-based compensation 7,172 6,605 21,020 22,172

Payroll tax expense on employee stock transactions 234 285 1,270 1,084

Provision for income taxes 111 24 320 208

Gain on extinguishment of debt — (3,684) — (40,785)

Change in fair value of warrant liability (21,224) 43,928 (49,976) (3,112)

One-time expenses — 1,711 — 1,711

Non-GAAP net income (loss) attributable to common stockholders $ 2,299 $ (5,182) $ 343 $ (21,739)

Weighted-average common shares outstanding to calculate Non-GAAP net income (loss) attributable to common stockholders per share, basic and diluted 122,116,628 115,893,232 120,897,549 113,793,229

Non-GAAP net income (loss) attributable to common stockholders per share, basic and diluted $ 0.02 $ (0.04) $ 0.00 $ (0.19)

The following table presents a reconciliation of net cash provided for (used in) operating activities to free (negative) cash flow for each of the periods indicated (in thousands):

Three Months Ended September 30, Nine Months Ended September 30,

2026 2025 2026 2025

Net cash provided by (used in) operating activities $ 24,976 $ 19,330 $ 9,968 $ (12,510)

Purchase of property and equipment and capitalized proprietary software development costs (13,708) (5,612) (32,047) (24,613)

Free (negative) cash flow $ 11,268 $ 13,718 $ (22,079) $ (37,123)

Key Financial and Operating Metrics:

September 30,

2024 December 31,

2024 March 31,

2025 June 30,

2025 September 30,

2025 December 31,

2025 March 31,

2026 June 30,

2026 September 30,

2026

(In thousands, except AOV and percentages)

GMV $ 433,074 $ 503,534 $ 490,405 $ 504,105 $ 519,814 $ 615,683 $ 606,359 $ 617,260 $ 641,502

NMV $ 335,191 $ 383,447 $ 370,757 $ 379,377 $ 397,062 $ 466,924 $ 458,747 $ 470,392 $ 490,528

Consignment Revenue $ 116,908 $ 128,126 $ 123,814 $ 128,620 $ 134,429 $ 149,014 $ 145,893 $ 148,216 $ 159,145

Direct Revenue $ 15,623 $ 19,524 $ 20,454 $ 20,495 $ 22,928 $ 27,214 $ 25,808 $ 25,787 $ 27,381

Shipping Services Revenue $ 15,224 $ 16,345 $ 15,765 $ 16,073 $ 16,216 $ 17,823 $ 18,014 $ 18,568 $ 19,590

Number of Orders 829 870 869 868 890 960 938 937 1,020

Take Rate 38.6 % 37.7 % 38.6 % 37.9 % 37.9 % 36.5 % 36.4 % 35.9 % 36.8 %

Active Buyers 958 972 985 1,001 1,024 1,056 1,083 1,107 1,152

AOV $ 522 $ 579 $ 564 $ 581 $ 584 $ 641 $ 646 $ 659 $ 629

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Address Line 2 such as Street or Suite number

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No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

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- Definition

Name of the City or Town

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No definition available.

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Name:

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xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

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No definition available.

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Data Type:

xbrli:normalizedStringItemType

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Period Type:

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- Definition

Name of the state or province.

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No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

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Period Type:

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Period Type:

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityEmergingGrowthCompany

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

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Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityRegistrantName

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

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- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

dei_LocalPhoneNumber

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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- Definition

Title of a 12(b) registered security.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name:

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Data Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Name:

dei_SolicitingMaterial

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Data Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

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No definition available.

+ Details

Name:

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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