Rent The Runway, Inc. Financials
Financial Health Signals
Rent The Runway, Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Rent The Runway, Inc. generates $-0.18 in operating cash flow ($12.9M OCF vs -$69.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
This page shows Rent The Runway, Inc. (RENT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Rent The Runway, Inc. generated $306.2M in revenue in fiscal year 2025. This represents an increase of 2.7% from the prior year.
Rent The Runway, Inc.'s EBITDA was -$34.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 46.7% from the prior year.
Rent The Runway, Inc. reported -$69.9M in net income in fiscal year 2025. This represents an increase of 38.3% from the prior year.
Rent The Runway, Inc. earned $-18.51 per diluted share (EPS) in fiscal year 2025. This represents an increase of 44.1% from the prior year.
Rent The Runway, Inc. held $70.4M in cash against $340.6M in long-term debt as of fiscal year 2025.
Rent The Runway, Inc.'s gross margin was 73.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.8 percentage points from the prior year.
Rent The Runway, Inc.'s operating margin was -15.5% in fiscal year 2025, reflecting core business profitability. This is up 11.3 percentage points from the prior year.
Rent The Runway, Inc.'s net profit margin was -22.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 15.1 percentage points from the prior year.
RENT Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $87.6M+8.3% | $80.9M+16.2% | $69.6M-8.3% | $75.9M-3.8% | $78.9M+5.2% | $75.0M-1.1% | $75.8M+4.6% | $72.5M |
| Cost of Revenue | $24.0M+6.7% | $22.5M+10.3% | $20.4M-4.7% | $21.4M+3.9% | $20.6M0.0% | $20.6M+2.5% | $20.1M-6.5% | $21.5M |
| Gross Profit | $63.6M+8.9% | $58.4M+18.7% | $49.2M-9.7% | $54.5M-6.5% | $58.3M+7.2% | $54.4M-2.3% | $55.7M+9.2% | $51.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $22.7M-7.7% | $24.6M+18.8% | $20.7M-2.4% | $21.2M-4.5% | $22.2M-2.6% | $22.8M-8.1% | $24.8M+1.6% | $24.4M |
| Operating Income | -$16.2M+19.4% | -$20.1M-2.0% | -$19.7M-43.8% | -$13.7M-42.7% | -$9.6M+41.8% | -$16.5M+14.5% | -$19.3M+11.9% | -$21.9M |
| Interest Expense | N/A | N/A | -$6.3M | N/A | N/A | -$5.6M-3.7% | -$5.4M+46.0% | -$10.0M |
| Income Tax | $0 | $0-100.0% | $200K | $0-100.0% | $100K | $0-100.0% | $500K+350.0% | -$200K |
| Net Income | $76.5M+389.8% | -$26.4M-1.1% | -$26.1M-38.1% | -$18.9M-21.2% | -$15.6M+29.1% | -$22.0M+11.3% | -$24.8M+21.3% | -$31.5M |
| EPS (Diluted) | $13.65+308.4% | $-6.55+0.5% | $-6.58-40.0% | $-4.70-12.7% | $-4.17+30.8% | $-6.03+13.4% | $-6.96+23.4% | $-9.09 |
RENT Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $231.0M+5.5% | $219.0M-10.7% | $245.3M-2.5% | $251.6M-2.3% | $257.4M-7.5% | $278.4M0.0% | $278.5M-10.2% | $310.3M |
| Current Assets | $66.7M+5.4% | $63.3M-27.3% | $87.1M-1.4% | $88.3M-4.6% | $92.6M-6.7% | $99.3M-2.8% | $102.2M-15.7% | $121.3M |
| Cash & Equivalents | $50.7M+16.3% | $43.6M-38.1% | $70.4M-5.0% | $74.1M-3.3% | $76.6M-6.6% | $82.0M-2.4% | $84.0M-20.7% | $105.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | $1.3M | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $266.1M-41.0% | $451.1M-0.3% | $452.4M+7.0% | $422.8M+2.6% | $411.9M-1.9% | $419.7M+4.7% | $400.8M-2.9% | $412.9M |
| Current Liabilities | $68.6M+0.4% | $68.3M-4.2% | $71.3M+33.3% | $53.5M+10.8% | $48.3M-21.6% | $61.6M+28.1% | $48.1M-26.6% | $65.5M |
| Long-Term Debt | $159.1M-53.7% | $343.9M+1.0% | $340.6M+4.3% | $326.7M+2.2% | $319.8M+2.1% | $313.1M+2.1% | $306.7M+2.2% | $300.2M |
| Total Equity | -$35.1M+84.9% | -$232.1M-12.1% | -$207.1M-21.0% | -$171.2M-10.8% | -$154.5M-9.3% | -$141.3M-15.5% | -$122.3M-19.2% | -$102.6M |
| Retained Earnings | -$1.1B+6.5% | -$1.2B-2.3% | -$1.1B-3.6% | -$1.1B-1.7% | -$1.1B-1.5% | -$1.1B-2.1% | -$1.1B-2.4% | -$1.0B |
RENT Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.4M+86.7% | -$10.5M-226.5% | $8.3M+76.6% | $4.7M+113.6% | $2.2M-52.2% | $4.6M+157.5% | -$8.0M-122.2% | -$3.6M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$12.2M+23.8% | -$16.0M-8.8% | -$14.7M-81.5% | -$8.1M-20.9% | -$6.7M-11.7% | -$6.0M+60.0% | -$15.0M-6.4% | -$14.1M |
| Financing Cash Flow | $20.8M+3071.4% | -$700K0.0% | -$700K-600.0% | -$100K+88.9% | -$900K-50.0% | -$600K-154.5% | $1.1M+1200.0% | -$100K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
RENT Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.6%+0.4pp | 72.2%+1.5pp | 70.7%-1.1pp | 71.8%-2.1pp | 73.9%+1.4pp | 72.5%-1.0pp | 73.5%+3.1pp | 70.3% |
| Operating Margin | -18.5%+6.4pp | -24.9%+3.4pp | -28.3%-10.2pp | -18.1%-5.9pp | -12.2%+9.8pp | -22.0%+3.5pp | -25.5%+4.7pp | -30.2% |
| Net Margin | 87.3%+120.0pp | -32.6%+4.9pp | -37.5%-12.6pp | -24.9%-5.1pp | -19.8%+9.6pp | -29.3%+3.4pp | -32.7%+10.7pp | -43.5% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 33.1%+45.2pp | -12.0%-1.4pp | -10.6%-3.1pp | -7.5%-1.4pp | -6.1%+1.8pp | -7.9%+1.0pp | -8.9%+1.3pp | -10.2% |
| Current Ratio | 0.97+0.0 | 0.93-0.3 | 1.22-0.4 | 1.65-0.3 | 1.92+0.3 | 1.61-0.5 | 2.12+0.3 | 1.85 |
| Debt-to-Equity | -4.53-3.1 | -1.48+0.2 | -1.64+0.3 | -1.91+0.2 | -2.07+0.1 | -2.22+0.3 | -2.51+0.4 | -2.93 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$207.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Rent The Runway, Inc.'s annual revenue?
Rent The Runway, Inc. (RENT) reported $306.2M in total revenue for fiscal year 2025. This represents a 2.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Rent The Runway, Inc.'s revenue growing?
Rent The Runway, Inc. (RENT) revenue grew by 2.7% year-over-year, from $298.2M to $306.2M in fiscal year 2025.
Is Rent The Runway, Inc. profitable?
No, Rent The Runway, Inc. (RENT) reported a net income of -$69.9M in fiscal year 2025, with a net profit margin of -22.8%.
What is Rent The Runway, Inc.'s earnings per share (EPS)?
Rent The Runway, Inc. (RENT) reported diluted earnings per share of $-18.51 for fiscal year 2025. This represents a 44.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Rent The Runway, Inc.'s EBITDA?
Rent The Runway, Inc. (RENT) had EBITDA of -$34.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Rent The Runway, Inc. have?
As of fiscal year 2025, Rent The Runway, Inc. (RENT) had $70.4M in cash and equivalents against $340.6M in long-term debt.
What is Rent The Runway, Inc.'s gross margin?
Rent The Runway, Inc. (RENT) had a gross margin of 73.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Rent The Runway, Inc.'s operating margin?
Rent The Runway, Inc. (RENT) had an operating margin of -15.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Rent The Runway, Inc.'s net profit margin?
Rent The Runway, Inc. (RENT) had a net profit margin of -22.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Rent The Runway, Inc.'s operating cash flow?
Rent The Runway, Inc. (RENT) generated $12.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Rent The Runway, Inc.'s total assets?
Rent The Runway, Inc. (RENT) had $245.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Rent The Runway, Inc.'s current ratio?
Rent The Runway, Inc. (RENT) had a current ratio of 1.22 as of fiscal year 2025, which is considered adequate.
What is Rent The Runway, Inc.'s debt-to-equity ratio?
Rent The Runway, Inc. (RENT) had a debt-to-equity ratio of -1.64 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Rent The Runway, Inc.'s return on assets (ROA)?
Rent The Runway, Inc. (RENT) had a return on assets of -28.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Rent The Runway, Inc.'s debt-to-equity ratio negative or unusual?
Rent The Runway, Inc. (RENT) has negative shareholder equity of -$207.1M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Rent The Runway, Inc.'s Piotroski F-Score?
Rent The Runway, Inc. (RENT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Rent The Runway, Inc.'s earnings high quality?
Rent The Runway, Inc. (RENT) has an earnings quality ratio of -0.18x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.