8-K
filed April 12, 2023, 7:59 PM ET
ticker RENT
CIK 0001468327
earnings
confidence high
sentiment positive
materiality 0.80
Rent the Runway reports FY2022 revenue $296.4M (+46% YoY); guides FY2023 revenue $320-330M
Rent the Runway, Inc.
- FY2022 revenue $296.4M (+46% YoY); net loss improved to $(138.7)M from $(211.8)M.
- FY2022 Adjusted EBITDA $6.7M (first full year positive) vs $(19.2)M prior year; Q4 Adjusted EBITDA $7.1M.
- Active subscribers 126,712 at FY2022 end (+10% YoY); record high 141,205 as of April 8, 2023.
- CFO Scarlett O'Sullivan resigns effective May 25; replaced by Sid Thacker (SVP FP&A). O'Sullivan to advise through Aug 25.
- FY2023 guidance: revenue $320-330M, active subscriber growth >25%, Adj EBITDA margin 7-8%, cash consumption down ~50%.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Rent the Runway, Inc. reported the quarter ended January 31, 2023 results: revenue $75.4 million, net income $(26.2) million.
- Period
- the quarter ended January 31, 2023
- Revenue
- $75.4 million
- Net income
- $(26.2) million
- Result
- reported results
Exact text from the filing
and significantly lower cash consumption in fiscal 2023, on our path to achieve free cash flow breakeven." Fourth Quarter 2022 Key Metrics and Financial Highlights • Revenue was $75.4 million, an 18% increase year-over-year from $64.1 million in the fourth quarter of fiscal year 2021. • 126,712 ending Active Subscribers, representing an increase of 10% year-over-year
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Rent the Runway, Inc. reported the fiscal year ended January 31, 2023 results: revenue $296.4 million, net income $(138.7) million.
- Period
- the fiscal year ended January 31, 2023
- Revenue
- $296.4 million
- Net income
- $(138.7) million
- Result
- reported results
Exact text from the filing
fourth quarter of 2021. Adjusted EBITDA margin was 9.4%, as compared to (8.6)% in the fourth quarter of 2021. Fiscal Year 2022 Key Metrics and Financial Highlights • Revenue was $296.4 million, a 46% increase year-over-year from $203.3 million in fiscal year 2021. • 128,586 Average Active Subscribers, representing an increase of 38% year-over-year from 93,371 at the
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Siddharth Thacker was appointed as Chief Financial Officer at Rent the Runway, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
the Company’s Board of Directors appointed Siddharth Thacker as the Company’s new Chief Financial Officer, effective on the Transition Date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Scarlett O'Sullivan resigned as Chief Financial Officer at Rent the Runway, Inc..
- Action
- resigned
- Role
- Chief Financial Officer
Exact text from the filing
On April 11, 2023, Scarlett O’Sullivan resigned as the Company’s Chief Financial Officer, effective May 25, 2023
View on SEC.gov
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