earnings
confidence high
sentiment positive
materiality 0.75
Rent the Runway Q1 revenue $67.1M (+100% YoY); beats guidance; active subs up 82% YoY
Rent the Runway, Inc.
2022-Q1 EPS reported
-$0.67
revenue$67,100,000
- Revenue $67.1M, up 100% YoY from $33.5M; gross margin 33.5% vs 24.2% YoY.
- Ending Active Subscribers 134,998 (+82% YoY); Total Subscribers 177,213 (+70% YoY).
- Net loss $(42.5)M, similar to $(42.3)M YoY; Adj EBITDA $(8.8)M (margin -13.1% vs -18.5%).
- Q2 guidance: revenue $72-74M; FY22 revenue $295-305M; FY22 Adj EBITDA margin (6)% to (5)%.
- Reiterates FY22 revenue growth 45-50% YoY; target Adj EBITDA breakeven in 2-4 quarters.