Rent the Runway Q1 revenue $74.2M (+10.6% YoY); record active subscribers 145,220; Adj EBITDA turns positive

Rent the Runway, Inc.

2023-Q1 EPS reported -$0.46 revenue$74,200,000

Revenue $74.2M, up 10.6% YoY; net loss narrowed to $(30.1)M from $(42.5)M YoY.
Record active subscribers 145,220 (+7.6% YoY, +15% QoQ); total subscribers 185,720.
Adjusted EBITDA $4.5M (6.1% margin) vs $(8.8)M (-13.1%) in Q1 2022.
Gross margin improved to 42.3% from 33.5% YoY driven by cost discipline.
Q2 FY23 guidance: revenue $77-79M, Adj EBITDA margin 7-8%; FY23 guidance reiterated.

item 2.02 item 9.01

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 fiscal quarter ended April 30, 2023 results: revenue $74.2 million, net income $(30.1) million. Guidance reaffirmed.

Period: the fiscal quarter ended April 30, 2023
Revenue: $74.2 million
Net income: $(30.1) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

subscriber growth and almost 50% reduction in cash consumption on our path to free cash flow breakeven.” First Quarter 2023 Key Metrics and Financial Highlights • Revenue was $74.2 million, a 10.6% increase year-over-year from $67.1 million in the first quarter of fiscal year 2022. • 145,220 ending Active Subscribers, representing an increase of 7.6% year-over-year

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Source: SEC EDGAR

accession 0001468327-23-000096

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