Rent the Runway Q1 revenue $75M (+1.1% YoY), Adj EBITDA $6.5M beats guidance; record low cash burn

Rent the Runway, Inc.

2024-Q1 EPS reported -$6.03 revenue$75,000,000

Revenue $75.0M (+1.1% YoY); net loss $(22.0)M improved from $(30.1)M.
Adjusted EBITDA $6.5M (margin 8.7%), beating guidance; FCF consumption record low <$2M.
Ending active subscribers 145,837 (+0.4% YoY); added ~20k subs since Q4 2023.
Q2 2024 guidance: revenue $76-78M; Adj EBITDA margin 14-15%.
FY2024 outlook: revenue growth 1-6%; free cash flow breakeven reaffirmed.

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