Welcome to our dedicated page for Rent The Runway news (Ticker: RENT), a resource for investors and traders seeking the latest updates and insights on Rent The Runway stock.
Rent The Runway, Inc. (NASDAQ: RENT) provides investors and fashion industry observers with centralized access to official company announcements and market-moving developments. This resource aggregates press releases, financial disclosures, and strategic updates related to RENT's innovative clothing rental platform and subscription services.
Visitors will find timely updates on earnings reports, partnership announcements, inventory expansions, and operational milestones. The curated collection spans corporate announcements, leadership changes, sustainability initiatives, and technology enhancements supporting RENT's 'Closet in the Cloud' ecosystem.
Key areas of coverage include quarterly financial performance, designer brand collaborations, subscription model innovations, and market expansion strategies. All content maintains factual accuracy while avoiding speculative analysis to serve both casual observers and professional analysts.
Bookmark this page for streamlined tracking of RENT's evolving position in the fashion technology sector. Check back regularly for verified updates directly from company sources and respected financial publications.
Rent the Runway (RENT) announced its financial results for Q1 2024, surpassing revenue and adjusted EBITDA guidance. The company reported revenue of $75 million, a 1.1% increase year-over-year. Key highlights include a record low quarterly cash consumption of under $2 million, and improvements in customer retention and rejoin rates. Active subscribers increased slightly to 145,837. Despite these gains, gross profit decreased by 9.6% to $28.4 million, and net loss was reduced to $22 million from $30.1 million in Q1 2023. Adjusted EBITDA rose to $6.5 million. The company reiterated its guidance for revenue growth and free cash flow breakeven for FY 2024.
Rent the Runway (Nasdaq: RENT) will release its Q1 2024 financial results on June 6, 2024, after market close. The results will cover the quarter ending on April 30, 2024. A conference call and live webcast with the investment community will follow at 4:30 p.m. Eastern Time the same day. The financial results, along with presentation materials, will be accessible through the Investor Relations section of Rent the Runway’s website. A replay will be available for at least fourteen days. Dial 1-877-407-3982 (U.S.) or 1-201-493-6780 (International) to access the live call. The replay access code is 13746504.
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