Rent the Runway

Rent the Runway, Inc. provides online ready-to-wear and contemporary designer apparel services. It rents designer dresses, gowns, and accessories for women. The firm's online platform enables women to search and book dresses and accessories for rental for various occasions, including parties, vacations, weddings, dates, and birthdays and also sells intimates, fashion solutions, lingerie, shape wear, tights, beauty products, jewelry and shoes online. The company was founded by Jennifer Y. Hyman and Jennifer Carter Fleiss in November 2008 and is headquartered in Brooklyn, NY.

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Rent the Runway reports record subscriber growth and exceeds revenue goals

Rent the Runway's Q1 2023 performance reflects strong subscriber growth and exceeded revenue goals. While facing challenges related to gross margins and ARPU, the company is focused on improving customer experience and leveraging insights from the Amazon pilot for future strategy. The opportunities lie in achieving significant retention benefits and driving organic growth through customer experience improvements.

Rent the Runway exceeds Q2 profitability but faces subscriber challenges

Rent the Runway's Q2 performance exceeded profitability guidance but faced challenges with lower active subscriber count and reduced revenue guidance for 2023. The company is prioritizing profitability and transitioning to a depth strategy for inventory to improve in-stock rates and reduce churn. Opportunities lie in maintaining adjusted EBITDA margin guidance and focusing on improving the customer experience to drive retention and loyalty gains.

Rent the Runway announces debt modifications and growth potential

Rent the Runway's Q3 earnings call highlighted the company's focus on debt restructuring, customer experience, and growth potential. Despite challenges related to debt and gross margin decline, the company is optimistic about the path ahead and aims to become a profitable business while proving its model to the market.

Rent the Runway surpasses fiscal goals, eyes accelerated growth

Rent the Runway's fiscal 2022 performance exceeded goals, with strong revenue growth and profitability, though subscriber growth faced challenges.
The company's focus on cost optimization and growth strategies for 2023 present opportunities for market expansion and improved customer experience.
Challenges in maintaining margins and balancing growth with profitability persist, but Rent the Runway aims for accelerated subscriber growth and reduced cash consumption in 2023.
Overall, Rent the Runway's strategic initiatives position it well in a growing subscription fashion market, emphasizing customer experience and organic growth.

Rent the Runway excels in Q1 2023, eyes AI for growth

Rent the Runway's Q1 2023 performance reflects strong growth in active subscribers, revenue, and margins, driven by customer-centric initiatives and AI integration.
The company's focus on enhancing customer experience, optimizing inventory, and leveraging AI for personalization positions it for long-term success.
Challenges in retention and profitability need to be addressed through continuous improvement and strategic resource allocation.
Opportunities lie in AI-driven innovations, reenergizing the reserve business, and diversifying revenue streams through market expansion.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Rent the Runway, Inc. provides online ready-to-wear and contemporary designer apparel services. It rents designer dresses, gowns, and accessories for women. Its online platform enables women to search and book dresses and accessories for rental for various occasions, including parties, vacations, weddings, dates, and birthdays and also sells intimates, fashion solutions, lingerie, shape wear, tights, beauty products, jewelry, and shoes online. The company was founded by Jennifer Y. Hyman and Jennifer Carter Fleiss in November 2008 and is headquartered in Brooklyn, NY.

Rent the Runway, a fashion rental company, has undergone adjustments, including a 10% reduction in its corporate workforce. However, the question arises: Is this indicative of a struggling company, or is it merely a recalibration?

Is Rent the Runway Struggling or Strategically Recalibrating?

Rent the Runway announced that it is eliminating 37 corporate positions and COO Anushka Salinas will leave the company on January 31. Her resignation comes on the heels of a company restructuring.

Rent The Runway Cuts 10% Of Corporate Workforce As COO Exits

Rent The Runway Cuts 10% Of Workforce And COO Exits

Archer Aviation

Canaan Inc.

Fortinet

Intel

Planet Labs

NuScale Power Corp

Following the remarkable ascent of Nvidia (NASDAQ: NVDA ) last year, it's only natural for investors to consider the top tech stocks to buy for 2024. Yeah, I suppose that NVDA could again be a winner.

7 Tech Stocks Destined to Follow in Nvidia's Footsteps

With subscriber growth slowing, fashion rental firm Rent the Runway has begun cutting staff. The company plans to let go of about 10% of its corporate employees, it said in a Tuesday (Jan. 9) regulatory filing.

Rent the Runway Cuts 10% of Corporate Staff

Rent the Runway (NASDAQ: RENT ) layoffs are on the way as the shared designer closet company announced plans to cut jobs as part of a restructuring plan. A filing with the Securities and Exchange Commission (SEC) reveals that Rent the Runway is going to cut 10% of its workforce as part of that restructuring.

Rent the Runway Layoffs 2024: What to Know About the Latest RENT Job Cuts

Rent the Runway Inc (NASDAQ: RENT) is in focus this morning after announcing a major restructuring that includes lowering its headcount. How many employees will be laid off?

Rent the Runway to cut 10% of its workforce

The fashion subscription company has established another restructuring plan that includes cutting about 10% of its corporate roles.

Rent the Runway to Cut About 10% of Corporate Jobs, Lose Operating Chief

Canoo

Mobileye Global Inc

The most oversold stocks in the consumer discretionary presents an opportunity to buy into undervalued companies.

Top 3 Consumer Stocks Which Could Rescue Your Portfolio In January - Mobileye Global (NASDAQ:MBLY), Canoo (NASDAQ:GOEV)

Rent the Runway, Inc. (NASDAQ:RENT ) Q3 2023 Earnings Conference Call December 5, 2023 4:30 PM ET Company Participants Cara Schembri - General Counsel Jennifer Hyman - Co-Founder and CEO Sid Thacker - Chief Financial Officer Conference Call Participants Dana Telsey - Telsey Advisory Group Eric Sheridan - Goldman Sachs Juliana Duque - Wells Fargo Nathan Feather - Morgan Stanley Andrew Boone - JMP Security Ross Sandler - Barclays Operator Welcome to Rent the Runway's Third Quarter 2023 Earnings Results Conference Call. At this time, all participants are in a listen-only mode.

Rent the Runway, Inc. (RENT) Q3 2023 Earnings Call Transcript

Rent the Runway, Inc. (RENT) came out with a quarterly loss of $0.45 per share versus the Zacks Consensus Estimate of a loss of $0.42. This compares to loss of $0.47 per share a year ago.

Rent the Runway, Inc. (RENT) Reports Q3 Loss, Lags Revenue Estimates

Although the revenue and EPS for Rent the Runway, Inc. (RENT) give a sense of how its business performed in the quarter ended October 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Rent the Runway, Inc. (RENT) Reports Q3 Earnings: What Key Metrics Have to Say

Aclaris Therapeutics

Ardelyx

Oatly

Phio Pharmaceuticals Corp

Penny stocks, defined as those trading under $5 per share, offer unique opportunities. With low prices and the potential for high percentage returns, it's understandable why penny stocks attract interest from new traders.

Penny Stocks To Buy Now? 5 Under $5 To Watch This Week

Rent the Runway stock moved higher after the fashion rental platform provider's announcement that it has restructured its corporate debt overshadowed disappointing third quarter earnings. The company said that under the amended credit facility with its existing lender, it has eliminated interest for the next six fiscal quarters and reduced the minimum liquidity covenant from $50 million to $30 million.

Rent the Runway shares strut higher on debt restructuring announcement; 3Q earnings miss estimates

Announces Corporate Debt Restructuring Reiterates FY23 Revenue and Adjusted EBITDA Guidance. Committed to Delivering Free Cash Flow Breakeven in FY 2024 Significantly Improved Inventory In-Stock Position Drove Improved Customer Satisfaction and Retention; Sets Stage for FY24 Growth NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or "RTR") (NASDAQ: RENT), the world's first and largest shared designer closet platform, today reported financial results for the fiscal quarter ended October 31, 2023.

Rent the Runway, Inc. Announces Third Quarter 2023 Results

Urban Outfitters' clothing rental service Nuuly has turned its first profit since its launch in 2019, rivaling the performance of competitor Rent the Runway.

Clothing rental service Nuuly reaches profitability, beating rival Rent the Runway to the benchmark

NEW YORK, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway”) (Nasdaq: RENT) announced today that it will participate in the following investor event:

Rent the Runway to Participate in Upcoming Investor Conference

NEW YORK, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway”) (Nasdaq: RENT) announced today that it expects to release its third quarter 2023 financial results for the quarter ended October 31, 2023 on Tuesday, December 5, 2023, after close of market. Rent the Runway will host a conference call and live webcast with the investment community at 4:30p.m. Eastern Time that same day to discuss its results and to provide a business update.

Rent the Runway to Report Third Quarter 2023 Results on December 5, 2023

Urban Outfitters

Since launching in 2019, Nuuly, a clothing rental subscription service by Urban Outfitters Inc., is growing quickly.

How Urban Outfitters' Nuuly is outsmarting Rent the Runway

There are plenty of examples of hard-hit stocks that went public during the peak of market mania in 2021 and have since fallen to more earthly levels. Rent the Runway (NASDAQ: RENT ) is one such company.

Is a Giant Short Squeeze Brewing in Rent the Runway (RENT) Stock?

As consumers increasingly prioritize mindful consumption across various facets of their lives, rentals have emerged as a popular means of accessing new styles without the burden of commitment and excessive consumption of items that might only be used once or twice. This mindset has proven advantageous for Rent the Runway.

Rent the Runway Struggles to Meet Soaring Consumer Demand

Rent the Runway, Inc. (NASDAQ:RENT ) Q2 2023 Earnings Conference Call September 8, 2023 8:30 AM ET Company Participants Cara Schembri - General Counsel Jennifer Hyman - CEO and Co-Founder Sid Thacker - CFO Conference Call Participants Rick Patel - Raymond James Ike Burochow - Wells Fargo Andrew Boone - JMP Securities Ross Sandler - Barclays Nathan Feather - Morgan Stanley Edward Yruma - Piper Sandler Dana Telsey - Telsey Advisory Group Eric Sheridan - Goldman Sachs Operator Hello, and welcome to Rent the Runway's Second Quarter 2023 Earnings Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Rent the Runway, Inc. (RENT) Q2 2023 Earnings Call Transcript

Rent the Runway, Inc. (RENT) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.43. This compares to loss of $0.53 per share a year ago.

Rent the Runway, Inc. (RENT) Reports Q2 Loss, Lags Revenue Estimates

While the top- and bottom-line numbers for Rent the Runway, Inc. (RENT) give a sense of how the business performed in the quarter ended July 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Rent the Runway, Inc. (RENT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Rent the Runway shares plummeted more than 22% in pre-market trading on Friday after the designer apparel and accessories rental platform reported a revenue miss for the second quarter and slashed its full-year sales outlook. For the quarter which ended July 31, 2023, the company reported revenue of $75.7 million, down 1% year-over-year from $76.5 million and below the Wall Street estimate of $78.5 million.

News for Rent the Runway Stock (RENT)