LuxExperience vs The RealReal

LuxExperience Reports Q4 FY26 and Full FY26 Results: Strong +7.6% Net Sales Growth ex-FX and Improved Adjusted EBITDA Profitability

LuxExperience announced Q4 FY26 and Full FY26 results with strong +7.6% Net Sales growth ex-FX and improved Adjusted EBITDA profitability, setting the stage for accelerated top- and bottom-line growth in FY27.

LuxExperience Boosts Revenue, Expects Faster Growth

LuxExperience, the parent company of Mytheresa, NET-A-PORTER, MR PORTER, and YOOX, reported a 7.6% constant-currency net sales increase in Q4 FY2026, with reported sales up 6.1% to €653.6 million. Adjusted EBITDA margin improved to 2.1%, marking the third consecutive quarter of profitability. Mytheresa led growth with a 10.2% constant-currency sales increase, while NET-A-PORTER and MR PORTER achieved an operational turnaround. YOOX reduced its adjusted EBITDA loss to €45.5 million for the full year. The company forecasts accelerated mid-to-high single-digit revenue growth for FY2027, with adjusted EBITDA margin between 2-3%, and authorized a share buyback of up to $50 million.

• LuxExperience Q4 net sales up 6.1% to €653.6 million (7.6% ex-FX).
• Adjusted EBITDA margin improved to 2.1% in Q4, third consecutive profitable quarter.
• Mytheresa Q4 net sales up 10.2% (ex-FX), US business grew 39.3%.

20-F Financial Filing Analysis for LuxExperience (2026-09-16)

LuxExperience B.V. (formerly MYT Netherlands Parent B.V.) filed its Annual Report on Form 20-F for the fiscal year ended June 30, 2026, reflecting the transformative integration of YOOX NET-A-PORTER GROUP S.p.A. (YNAP) following its acquisition from Richemont in April 2025, alongside the subsequent divestiture of THE OUTNET completed in April 2026. The report outlines the expanded group structure across three primary operating segments: Luxury | Mytheresa, Luxury | NET-A-PORTER & MR PORTER, and Off-Price | YOOX. Disclosures highlight heightened exposure to operational integration risks, post-acquisition restructuring, logistics network realignments across Europe and the US, cookie deprecation, evolving EU AI Act compliance, and macroeconomic headwinds affecting luxury consumer discretionary spending.

• As of June 30, 2026, LuxExperience B.V. had 139,699,831 ordinary shares outstanding with a nominal par value of €0.000015 per share.
• The corporate structure spans three primary operational segments post-YNAP acquisition: Luxury | Mytheresa, Luxury | NAP & MRP, and Off-Price | YOOX, following the divestiture of THE OUTNET in April 2026.
• Customer concentration within the Luxury | Mytheresa segment remained significant, with the top 4.8% of customers accounting for approximately 48.4% of its Gross Merchandise Value (GMV) in fiscal 2026.

10-Q Financial Filing Analysis for The RealReal (2026-08-06)

For the second quarter ended June 30, 2026, The RealReal reported total revenue of $192.57 million, reflecting a 16.6% year-over-year increase compared to $165.19 million in Q2 2025. Growth was driven by solid marketplace momentum, with GMV expanding 22.5% to $617.26 million and Average Order Value (AOV) rising 13.4% to $659. Operating loss improved markedly to $2.28 million from $9.89 million in the prior-year period. However, the company posted a net loss attributable to common stockholders of $27.23 million ($0.23 per share), primarily weighed down by a non-cash mark-to-market charge of $18.58 million related to the revaluation of warrant liabilities. Operational leverage continued to expand, with Adjusted EBITDA reaching $13.53 million in Q2 2026 compared to $6.84 million in Q2 2025. Operations and technology expenses decreased as a percentage of revenue from 42% to 39% due to efficiency and automation initiatives across authentication centers. Cash and cash equivalents totaled $119.13 million as of June 30, 2026.

• Total revenue increased 16.6% YoY to $192.57 million in Q2 2026, with GMV reaching $617.26 million (up 22.5% YoY) and AOV increasing to $659.
• Adjusted EBITDA nearly doubled to $13.53 million for Q2 2026 compared to $6.84 million in Q2 2025.
• Reported a quarterly net loss of $27.23 million, driven by an $18.58 million non-cash loss from the fair value remeasurement of warrant liabilities.