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RealReal Inc. shares rose more than 3% in the extended session Monday after the retailer reported a 55% jump in its third-quarter sales.
RealReal REAL, -5.23% , an e-commerce seller of secondhand luxury goods, said it lost $25.3 million, or 30 cents a share, in the quarter, compared with a loss of $25.1 million, or $3 cents a share, in the year-ago period. Adjusted for one-time items, the company lost 27 cents.
Revenue rose 55% to $80.5 million, from $51.8 million a year ago, the company said.
Analysts polled by FactSet had expected a GAAP loss of 33 cents a share on sales of $75.9 million.
“Q3 was a very strong quarter and speaks to the health and vibrancy of our marketplace. (Gross merchandise volume) and revenue growth accelerated, and we saw increased leverage in marketing as well as operations and technology,” founder and Chief Executive Julie Wainwright said in a statement.
The company said its active buyers reached nearly 543,000, an increase of 43% year-on-year. Average order value rose to $438, compared with $418 in the third quarter of 2018.
RealReal stock began trading on June 28. The shares jumped after the company’s first post-IPO earnings in August.
The shares have lost 14% in the past three months, versus gains of 5.1% and 3.7% for the S&P 500 index SPX, +0.37% and the Dow Jones Industrial Average DJIA, +0.42% , respectively.
