The RealReal Inc. (NASDAQ: REAL) reported Q2 EPS of $0.15, $0.64 better than the analyst estimate of ($0.49). Revenue for the quarter came in at $128.8 million versus the consensus estimate of $95.71 million.

“We were very pleased with our performance in the second quarter; we delivered strong financial results and launched our first Tier 1 lender in U.S. Title, marking the achievement of a significant milestone in the execution of our long-term growth strategy. Consolidated Net Revenue(1) increased 29.8% to $46.7 million and Adjusted EBITDA(1) increased 30.2% to $19.0 million from the second quarter of fiscal 2020, principally driven by higher volumes and margin expansion in our U.S. Title segment,” said Real Matters Chief Executive Officer Brian Lang. “The U.S. mortgage market continued to demonstrate strong year-over-year growth in the second quarter and both our U.S. businesses outperformed the market from market share growth and new client additions. Our centralized U.S. Title revenues were up 78.4% compared with an estimated 71.1% increase in the refinance origination market, while U.S. Appraisal origination revenues were up 12.0% compared with an estimated 10.7% increase in the addressable market.”

“Looking ahead, our principal focus continues to be market share growth and adding new clients. Given our performance track record and the breadth of our U.S. lender client base, we are confident in our ability to continue driving organic growth over the long-term with a view of achieving our Fiscal 2025 targets,” added Lang.

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