Rent The Runway, Inc. Stock Price, News & Analysis

Rent the Runway reported a remarkable Q1 2022, with revenue reaching $67.1 million, a 100% year-over-year increase. The company achieved a record of 134,998 Active Subscribers, marking an 82% growth from the previous year. Gross Margin improved to 34%, a 9 percentage point increase YoY. Despite a net loss of $(42.5) million, the company anticipates continued growth with projected revenue of $295 million to $305 million for FY 2022 and aims for Adjusted EBITDA breakeven in the next 2-4 quarters.

Rent the Runway announced its participation in the Morgan Stanley Sustainable Futures Conference on May 25, 2022, at 1:15 PM ET. The event will be streamed live on its investor relations website, with a replay available for a limited time. Founded in 2009, Rent the Runway is revolutionizing the fashion industry through its Closet in the Cloud, offering a vast selection of clothing from over 780 designer brands. The company aims to empower women to feel their best daily by providing subscription options and the ability to rent and shop resale items.

Rent the Runway (Nasdaq: RENT) will release its Q1 2022 financial results on June 9, 2022, after market close. A conference call and live webcast for the investment community will follow at 4:30 p.m. Eastern Time to discuss the results and provide a business update. Interested parties can access the results and presentation materials via the Investor Relations website. A conference line is available for calls, and a replay will be provided shortly after the call for fourteen days.

Rent the Runway (Nasdaq: RENT) will present at the Shareholder Equity Conference on April 19, 2022, at 11:30 AM ET. The presentation will be held virtually and accessible via the company’s investor relations website under the “Events” section. The live webcast will also be available for replay for a limited time afterward.

Founded in 2009, Rent the Runway is revolutionizing the fashion industry through its unique model, the Closet in the Cloud. Customers can rent, subscribe, and shop resale from over 780 designer brands, offering millions of items for various occasions.

Rent the Runway reported a robust Q4 2021, with revenue increasing by 91% year-over-year to $64.1 million. Its Ending Active Subscribers surged 110% to 115,240. Gross Margin improved to 36.7% from 13.1% in the previous year. The company anticipates 45%-50% year-over-year revenue growth for fiscal year 2022, projecting ending Active Subscribers between 130K to 132K in Q1 2022. Despite a net loss of $(39.3) million, Rent the Runway is optimistic about profitability and cash flow breakeven in the medium term, highlighting strategic growth initiatives.

Rent the Runway, Inc. (Nasdaq: RENT) will announce its fourth quarter 2021 financial results and full fiscal year ending January 31, 2022, on April 13, 2022, after market close. A conference call and live webcast for investors will be held at 5:00 p.m. ET the same day. The event can be accessed on their Investor Relations website, along with a replay available for 14 days post-call. Founded in 2009, Rent the Runway revolutionizes the fashion industry with its unique subscription model and extensive designer offerings.

Rent the Runway aims to tackle apparel overproduction with its Impact Strategy, targeting a reduction of 500,000 new garment productions by FY2026. The strategy focuses on environmental sustainability by achieving net zero carbon emissions by 2040 and minimizing waste. A significant Life Cycle Assessment confirmed renting leads to 24% reduction in water usage, 6% reduction in energy, and 3% reduction in CO2 emissions. The company commits to promoting diversity and supporting Black designers with a $10 million budget by 2026.

Rent the Runway reported strong Q3 2021 results, achieving a 78% increase in active subscribers year-over-year, totaling 116,833. Revenue surged 66% to $59.0 million, while gross profit rose to $19.9 million, improving gross margin to 33.7%. Despite these gains, the company reported a net loss of ($87.8) million, influenced by non-recurring expenses linked to its IPO. For Q4 2021, Rent the Runway anticipates revenues between $62.8 million and $63.3 million, and aims for approximately 121K to 122K active subscribers.

Rent the Runway announced the release date for its third quarter 2021 financial results, which will occur on December 8, 2021, after market close. A conference call is scheduled for 5:00 p.m. ET on the same day to discuss the results and provide business updates. Investors can access the live webcast via the company's Investor Relations webpage. A replay of the call will be available for at least fourteen days following the event. Founded in 2009, Rent the Runway revolutionizes the fashion industry with its Closet in the Cloud, allowing customers to rent and shop from over 750 designer brands.