Rent the Runway Q3 revenue $72.5M (-6.3% YoY); restructures debt, eliminates interest for 6 quarters

Rent the Runway, Inc.

2023-Q3 EPS reported -$1.31 revenue$222,400,000

Revenue $72.5M (-6.3% YoY); net loss $(31.5)M (narrowed from $(36.1)M YoY); Adj. EBITDA $3.5M (vs $6.6M YoY).
Debt restructured: interest (PIK and cash) eliminated for 6 quarters; liquidity covenant cut to $30M from $50M.
Active subscribers 131,725 (-2% YoY); in-stock rate up 1400 bps vs 1H23; retention and NPS improved.
FY23 guidance reaffirmed: revenue ≥$296.4M, Adj. EBITDA margin 7-8%; FY23 FCF guidance withdrawn; targeting FCF breakeven in FY24.

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 0.95

Rent the Runway, Inc. reported the quarter ended October 31, 2023 results: revenue $72.5 million, net income ($31.5) million. Guidance reaffirmed.

Period: the quarter ended October 31, 2023
Revenue: $72.5 million
Net income: ($31.5) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

RTR with the SEC today and available on the RTR’s Investor Relations website (investors.renttherunway.com). Third Quarter 2023 Key Metrics and Financial Highlights • Revenue was $72.5 million, a (6.3)% decrease year-over-year from $77.4 million in the third quarter of fiscal year 2022. • 131,725 ending Active Subscribers, representing a decrease of (2)% year-over-year

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Source: SEC EDGAR

accession 0001468327-23-000339

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