Rent the Runway, Inc. Announces First Quarter 2024 Results
Rent the Runway, Inc. - Class A (RENT)
Company Research
Source: GlobeNewswire
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 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. Fiscal First Quarter and Recent Business Highlights 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 retention rates fueled by enhanced inventory and product experiences and new lifecycle marketing strategies. We believe that strong, sustained in-stock rates, combined with improved merchandising through use-case hubs, have made it easier
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News
- All You Need to Know About Rent the Runway (RENT) Rating Upgrade to Buy [Yahoo! Finance]Yahoo! Finance
- Rent the Runway, Inc. (NASDAQ: RENT) had its price target lowered by analysts at Jefferies Financial Group Inc. from $34.00 to $26.00. They now have a "buy" rating on the stock.MarketBeat
- Rent the Runway, Inc. (RENT) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Rent the Runway, Inc. Announces Second Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Rent the Runway, Inc. Announces Second Quarter 2024 ResultsGlobeNewswire
RENT
Earnings
- 9/5/24 - Beat
RENT
Sec Filings
- 9/18/24 - Form 4
- 9/18/24 - Form 4
- 9/18/24 - Form 4
- RENT's page on the SEC website