Rent The Runway Stock Crashes After Q2 Report: Details

Core Insights - Rent the Runway reported a wider-than-expected quarterly loss of $6.55 per share, exceeding the analyst estimate of $5.48 [1] - Quarterly revenue was $80.9 million, surpassing the analyst estimate of $75.5 million [1] Financial Restructuring - The company announced a recapitalization plan to reduce debt from $340 million to $120 million and extend the maturity of the debt to 2029 [2] - This plan aims to provide financial flexibility for executing a turnaround strategy [3] Subscriber Metrics - The company reported 146,373 ending active subscribers, a 13.4% increase from 129,073 at the end of the second quarter of fiscal year 2024 [5] - Average active subscribers reached 146,765, reflecting a 6.8% increase from 137,455 at the end of the second quarter of fiscal year 2024 [5] - Total subscribers increased to 185,102, marking a 5.7% rise from 175,087 at the end of the second quarter of fiscal year 2024 [5] Stock Performance - Rent the Runway's stock price fell by 26.74% to $5.78 in extended trading following the earnings report [4]