Rent the Runway(US:RENT)2025-01-20 06:21Financial Performance - Q1 2024 - Total revenue reached $75.0 million, a 1.1% increase year-over-year[10] - Gross profit was $28.4 million with a gross margin of 38%, a decrease of 4 percentage points year-over-year[10] - Net loss amounted to $(22.0) million, representing a margin of (29)%, an improvement of 11 percentage points year-over-year[10] - Adjusted EBITDA was $6.5 million, resulting in a margin of 9%, an increase of 3 percentage points year-over-year[10] Subscriber Metrics - Q1 2024 - Active subscribers totaled 145.8K, showing a slight increase year-over-year[10] - Average active subscribers were 135.9K, relatively flat year-over-year[10] - Total subscribers, including both active and paused, remained relatively flat year-over-year[10] - 88% of revenue was derived from subscribers[22] - 26% of subscribers added one or more paid items to their subscriptions[22] Financial Guidance - Q2 2024 total revenue is projected to be between $76 million and $78 million[60] - Q2 2024 adjusted EBITDA margin is expected to be 14%-15% of total revenue[60] - FY2024 total revenue is forecasted to be between $301 million and $316 million, indicating a 1% to 6% year-over-year growth[60] - FY2024 adjusted EBITDA margin is anticipated to be 15% to 16% of total revenue[60] - The company aims to achieve free cash flow breakeven for FY24[61]