NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway”) (Nasdaq: RENT) announced today that it expects to release its first quarter 2025 financial results for the quarter ended April 30, 2025 on Thursday, June 5, 2025, after market close. Rent the Runway will host a conference call and live webcast with the investment community at 4:30 p.m. Eastern Time that same day to discuss its results and to provide a business update. The financial results and live webcast, including presen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ____________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________ Commission file number 001-40958 RENT THE RUNWAY, INC. (Exact name of registrant as specified in its charter) | Delaware | 80-0376379 | | --- | --- | | (State or ...

Q4 2024 Earnings Presentation April 15, 2025 RENT THE RUNWAY Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this presentation that do not relate to maers of historical fact should be considered forward-looking statements. These statements include, but are not limited to, statements regarding Rent the Runway, Inc.'s (the "Company," "our" or "we") guidance and underlying a ...

Rent the Runway, Inc. (RENT) Q4 2024 Earnings Conference Call April 15, 2025 08:30 AM ET Company Participants Conference Operator - Call ModeratorKara Schembri - Chief Legal and Administrative OfficerJennifer Hyman - Chief Executive OfficerSid - Chief Financial Officer Conference Call Participants Andrew Boone - Analyst, JMP Securities Conference Operator Welcome to Rent the Runway's fourth quarter and fiscal year 2024 earnings results conference call. At this time, all participants are in a listen-only mod ...

Financial Performance - Revenue for fiscal year 2024 was $306.2 million, a 2.7% increase year-over-year from $298.2 million in fiscal year 2023[15]. - Net loss for fiscal year 2024 was $(69.9) million, compared to $(113.2) million in fiscal year 2023, representing a net loss as a percentage of revenue of (22.8)%, down from (38.0)%[15]. - Adjusted EBITDA for fiscal year 2024 was $46.9 million, compared to $26.9 million in fiscal year 2023, with an adjusted EBITDA margin of 15.3%[15]. - For fiscal year 2025, the company expects revenue between $68 million and $70 million and free cash flow between $(30) million and $(40) million[15]. - The net loss for the year ended January 31, 2025, was $69.9 million, compared to a net loss of $113.2 million for the year ended January 31, 2024, indicating an improvement of 38.2%[34]. - Total revenue for the three months ended January 31, 2025, was $76.4 million, a slight increase from $75.8 million in the same period of 2024, representing a growth of 0.8%[32]. - Subscription and Reserve rental revenue decreased to $64.6 million in Q1 2025 from $65.4 million in Q1 2024, a decline of 1.2%[32]. - Adjusted EBITDA for the three months ended January 31, 2025, was $17.4 million, representing an Adjusted EBITDA margin of 22.8%, compared to $11.2 million and 14.8% in the prior year[38]. - Free Cash Flow for the three months ended January 31, 2025, was $2.1 million, with a Free Cash Flow Margin of 2.7%, contrasting with a Free Cash Flow of $(3.4) million and a margin of (4.5)% in the previous quarter[40]. Subscriber Metrics - Active subscribers at the end of fiscal year 2024 were 119,778, a decrease of 5% from 125,954 at the end of fiscal year 2023[11]. - The company aims to return to subscriber growth in fiscal year 2025, focusing on customer loyalty and inventory reinvestment[2][6]. Cash and Liquidity - Cash and cash equivalents at the end of fiscal year 2024 were $77.4 million, with a decline in cash consumption from $(70.5) million in fiscal year 2023 to $(6.6) million[4][15]. - The company reported a cash and cash equivalents balance of $77.4 million as of January 31, 2025, down from $84.0 million as of January 31, 2024, a decrease of 7.9%[30]. - The company experienced a total net cash used in operating activities of $12.9 million for the year ended January 31, 2025, compared to $(15.7) million in the previous year[40]. - The company reported net cash provided by operating activities of $1.4 million for the three months ended January 31, 2025, compared to $4.7 million for the three months ended October 31, 2024[40]. Inventory and Customer Retention - The company announced the largest inventory acquisition in its history, expecting to approximately double the new inventory in fiscal year 2025[2][7]. - Customer retention improved by 8% in fiscal year 2024 compared to fiscal year 2023, attributed to increased inventory depth[15]. - The company plans to increase units from the Share by RTR program to approximately 62% of total units in fiscal year 2025, a 2.5x increase versus fiscal year 2024[10]. Debt and Liabilities - Long-term debt increased to $333.7 million as of January 31, 2025, from $306.7 million as of January 31, 2024, an increase of 8.8%[30]. - Total liabilities rose to $422.5 million as of January 31, 2025, compared to $400.8 million as of January 31, 2024, reflecting a growth of 5.4%[30]. - Total assets decreased from $278.5 million as of January 31, 2024, to $240.0 million as of January 31, 2025, a reduction of 13.8%[30]. Other Financial Metrics - The weighted-average shares used in computing net loss per share increased to 3,897,238 for the three months ended January 31, 2025, compared to 3,530,973 for the same period in 2024, an increase of 10.4%[32]. - For the three months ended January 31, 2025, the net loss was $13.4 million, an improvement from a net loss of $24.8 million for the same period in 2024[38]. - The company reported a total of $24.2 million in interest expense for the year ended January 31, 2025, down from $33.7 million in the previous year[38]. - The write-off of liquidated assets was $2.7 million for the three months ended January 31, 2025, compared to $0.8 million in the same period of 2024[38]. - The company incurred restructuring charges related to severance and related costs, amounting to $2.0 million for the three months ended January 31, 2024[38]. - Total depreciation for rental products was $17.0 million for the three months ended January 31, 2025, up from $16.7 million in the same period of 2024[38]. - Proceeds from the sale of rental products amounted to $8.0 million for the three months ended January 31, 2025, compared to $6.5 million in the previous quarter[40].

Core Insights - Rent the Runway, Inc. reported a significant improvement in cash consumption, with a decline of only $6.6 million in fiscal year 2024 compared to a decline of $70.5 million in fiscal year 2023, indicating a record low cash burn [1][3][5] - The company announced its largest inventory acquisition in history, with plans to double the new inventory on the platform in fiscal year 2025, aiming to enhance customer experience and drive subscriber growth [1][8][12] - Rent the Runway expects a return to subscriber growth in fiscal year 2025, supported by a disciplined growth strategy and a focus on customer loyalty [4][5][11] Financial Performance - For fiscal year 2024, total revenue was $306.2 million, a 2.7% increase from $298.2 million in fiscal year 2023 [12] - The company reported a net loss of $69.9 million for fiscal year 2024, an improvement from a net loss of $113.2 million in fiscal year 2023 [12][30] - Adjusted EBITDA for fiscal year 2024 was $46.9 million, compared to $26.9 million in fiscal year 2023, with an adjusted EBITDA margin of 15.3% [12][34] Subscriber Metrics - As of January 31, 2025, Rent the Runway had 119,778 active subscribers, a decrease of 5% from 125,954 at the end of fiscal year 2023 [12] - Average active subscribers for fiscal year 2024 were 132,574, reflecting a 2% decrease year-over-year [12] - The company improved customer retention by 8% in fiscal year 2024 compared to fiscal year 2023, attributed to increased inventory depth [12][7] Inventory and Customer Experience Initiatives - The company launched a "We Heard You" customer campaign to enhance customer engagement and satisfaction, focusing on inventory that customers desire [8] - The Share by RTR program is expected to account for approximately 62% of total units in fiscal year 2025, representing a 2.5x increase from fiscal year 2024 [8] - New customer experience initiatives include a 60-day risk-free renting promise and personalized onboarding through customer service calls [8]

Company Overview - Rent the Runway, Inc. is disrupting the trillion-dollar fashion industry with its "Closet in the Cloud" concept, allowing women to feel their best every day [4] - The company offers subscription services, a-la-carte rentals, and resale shopping from hundreds of designer brands, providing a wide assortment of millions of items for various occasions [4] - Under the leadership of CEO and Co-Founder Jennifer Hyman, Rent the Runway has received multiple accolades, including being named to CNBC's "Disruptor 50" five times and Fast Company's Most Innovative Companies list four times [4] Upcoming Financial Results - Rent the Runway is set to release its fourth quarter and fiscal year 2024 financial results on April 15, 2025, before market open [1] - A conference call and live webcast will be held at 8:30 a.m. Eastern Time on the same day to discuss the results and provide a business update [1] Accessing Information - The financial results and live webcast will be accessible through the Investor Relations section of Rent the Runway's website [2] - A replay of the conference call will be available for at least fourteen days after the call [3]

Q1 2024 Earnings Presentation June 6, 2024 RENT THE RUNWAY 3 TBU RENT THE RUNWAY 3 Contents Recent Business Highlights 02 Q2 + FY2024 Guidance 03 RENT THE RUNWAY Q 1 2024 Summary 4 RENT THE RUNWAY Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this presentation that do not relate to maers of historical fact should be considered forward-looking statements. These statement ...

Q2 2024 Earnings Presentation September 5, 2024 3 3 Contents Recent Business Highlights 02 Q3 + FY 2024 Guidance 03 RENT THE RUNWAY Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this presentation that do not relate to maers of historical fact should be considered forward-looking statements. These statements include, but are not limited to, statements regarding Rent the ...

Q3 2024 Earnings Presentation December 9, 2024 RENT THE RUNWAY Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this presentation that do not relate to maers of historical fact should be considered forward-looking statements. These statements include, but are not limited to, statements regarding Rent the Runway, Inc.'s (the "Company," "our" or "we") future results of opera ...