Rent The Runway sees Q3 revenue $75M-$77M, consensus $75.57M

Sees Q3 adjusted EBITDA margin 13%-15%. “Our business exhibited improved momentum in Q2 2024,” said Sid Thacker, CFO, Rent the Runway. “Revenue growth improved for the third consecutive quarter giving us confidence to raise our full year revenue guidance. Notably, we saw strong improvement in the Reserve business as increased focus and an improved customer experience drove new order growth. Underlying trends in the Subscription business continued to improve and demand remained strong for the Resale business during the quarter. Free cash flow consumption improved for the six months ending July 31, 2024 and we are reiterating our commitment to achieving free cash flow breakeven for FY24.”