Exceeded Revenue and Adjusted EBITDA Guidance for Q2 2024. Continued Improvement in Business Momentum in Q2 2024. Record Low Cash Consumption in 1H 2024. Raised FY24 Revenue Guidance Underscores Confidence in Business Trajectory. Reiterates Expectation for Free Cash Flow Breakeven in FY 2024. NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. ("Rent the Runway" or "RTR") (NASDAQ: RENT), transforming the way women get dressed by pioneering the world's first Closet in the Cloud, today reported ...

NEW YORK, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. ("Rent the Runway") (Nasdaq: RENT) announced today that it expects to release its second quarter 2024 financial results for the quarter ended July 31, 2024 on Thursday, September 5, 2024, 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 ...

About Rent the Runway A.G.P.'s Virtual Consumer Showcase, to be held virtually. Management will participate in a fireside chat on June 26, 2024 at 4:30PM ET. The live webcast of the fireside chat will be available on Rent the Runway's investor relations website under the "Events" section at https://investors.renttherunway.com/. The webcast will also be available for replay for at least 14 days following the presentation. Investor Relations investors@renttherunway.com Founded in 2009, Rent the Runway is disr ...

About Rent the Runway A.G.P.'s Virtual Consumer Showcase, to be held virtually. Management will participate in a fireside chat on June 26, 2024 at 4:30PM ET. The live webcast of the fireside chat will be available on Rent the Runway's investor relations website under the "Events" section at https://investors.renttherunway.com/. The webcast will also be available for replay for at least 14 days following the presentation. Investor Relations investors@renttherunway.com Founded in 2009, Rent the Runway is disr ...

Core Viewpoint - Rent the Runway is experiencing steady growth and increasing profitability, with effective marketing strategies and a low stock valuation, positioning it as a potential takeover target for larger companies [1][7]. Business Model and Market Position - Rent the Runway offers a subscription service allowing consumers to rent designer clothing for as low as $89 per month, enabling access to high-end fashion at a more affordable price [3]. - The current economic climate, characterized by high inflation, has led many consumers to seek cost-effective alternatives to purchasing expensive designer clothing, making the rental model appealing [4]. Financial Performance - Recent financial metrics show improvement, with the operating loss reduced to $15.2 million from $20.4 million year-over-year, and EBITDA loss shrinking to $60,000 from $7 million in Q1 2023 [5]. - The active user base has grown from 107,000 in Q3 2021 to 136,000 in the latest quarter, indicating successful user acquisition strategies [5][6]. Marketing Strategies - The company employs various marketing techniques, including earned media, influencer marketing, and visual storytelling, which have proven effective in attracting and retaining users [6]. - The visually appealing marketing materials contribute to the company's ability to engage consumers and enhance brand visibility [6]. Valuation and Acquisition Potential - Rent the Runway's stock is valued at a low price-to-sales ratio of 0.3, making it an attractive acquisition target for larger retailers looking to enhance their e-commerce capabilities [7]. - The potential synergies with a larger retailer could lead to immediate positive cash flow for the acquirer [8]. Challenges and Risks - The company faces low barriers to entry in the rental clothing market, which could lead to increased competition from other apparel retailers [9]. - Rent the Runway has a high debt load, with net debt reported at approximately $280 million, although its current ratio of 1.6 suggests short-term financial stability [10].

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $75 million, reflecting a year-over-year increase of $0.8 million or 1.1% but a quarter-over-quarter decrease of $0.8 million or 1.1% [3] - Adjusted EBITDA for the quarter was $6.5 million or 8.7% of revenue, compared to $4.5 million or 6.1% of revenue in the prior year, indicating improved profitability [7][19] - Free cash flow for Q1 2024 was negative $1.4 million, a significant improvement from negative $12.1 million in the same period last year [10][19] Business Line Data and Key Metrics Changes - Subscription and reserve rental revenue decreased by $0.7 million or 1% year-over-year, primarily due to a decline in the reserve business [3] - Other revenue increased by $1.5 million or 20.3% year-over-year, driven by a focus on the retail business [3] - Fulfillment costs were $20.6 million in Q1 2024, lower than $21.9 million in Q1 2023, with fulfillment costs as a percentage of revenue decreasing to 27.5% from 29.5% year-over-year [4] Market Data and Key Metrics Changes - Ending active subscribers reached 145,837, a record high and a 16% increase compared to Q4 2024, driven by strong rejoiner and retention rates [26] - The loyalty rate in Q1 2024 was at its highest level in over 2.5 years, indicating improved customer engagement [26] Company Strategy and Development Direction - The company aims to achieve free cash flow breakeven for the full year 2024 and to reignite growth [18][47] - A significant focus is placed on enhancing the customer experience through improved inventory management and marketing strategies [24][28] - The company is transitioning to a more capital-light inventory model, acquiring nearly half of its inventory at minimal upfront costs [23][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's trajectory, expecting improved year-over-year growth in Q2 relative to Q1 [55] - The company is optimistic about the impact of recent marketing initiatives and in-real-life events on customer engagement and brand awareness [28][64] - Management highlighted the importance of word-of-mouth referrals and emotional connections with customers as key growth drivers [65][66] Other Important Information - The company has made significant investments in marketing and customer experience, leading to a 40% increase in traffic month-over-month [30][53] - Inventory in-stock rates in Q1 2024 were 24% higher than in Q1 2023, with inventory churn down 20% year-over-year [39] Q&A Session Summary Question: Can you discuss the opportunity with untapped audiences and resurrecting users? - Management highlighted the potential to increase general awareness and broaden customer demographics, emphasizing the accessibility of their offerings [50][51] Question: What gives you confidence in subscriber growth for Q2? - Management noted improved trends in the reserve business, strong rejoiner activity, and retention rates as key indicators of confidence [60][61] Question: How do you view the balance of word-of-mouth referrals and digital marketing? - Management emphasized the historical importance of word-of-mouth referrals and the shift in marketing focus towards building emotional connections with customers [66]

Rent the Runway, Inc. (RENT) came out with a quarterly loss of $6.03 per share versus the Zacks Consensus Estimate of a loss of $6.56. This compares to loss of $9.20 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q ____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2024 OR ☐ 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. _________________________ ...

Exhibit 99.1 Rent the Runway, Inc. Announces First Quarter 2024 Results Exceeded Revenue and Adjusted EBITDA Guidance for Q1 2024. Improved Business Momentum in Q1 2024. Record Low Quarterly Cash Consumption in Q1 2024. Reiterates Expectation for Revenue Growth and Free Cash Flow Breakeven in FY 2024. New York (June 6, 2024) - Rent the Runway, Inc. ("Rent the Runway" or "RTR") (NASDAQ: RENT), the world's first and largest shared designer closet platform, today reported financial results for the fiscal quart ...

NEW YORK, June 06, 2024 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. ("Rent the Runway" or "RTR") (NASDAQ: RENT), the world's first and largest shared designer closet platform, today reported financial results for the fiscal quarter ended April 30, 2024. Record Low Quarterly Cash Consumption in Q1 2024. Record low quarterly free cash flow consumption of less than $2M, which is $11M lower than Q1 2023 and $27M lower than Q1 2022. We are reiterating our guidance to be free cash flow breakeven this year. Strong r ...