Rent the Runway Inc

Rent the Runway said it expects third-quarter revenue of $87 million to $90 million, flat to 3% growth versus Q3 2025, with adjusted EBITDA of negative 3% to negative 6% of revenue. The company also announced that Paige Thomas has been appointed Chief Executive Officer, President and a Member of its Board of Directors effective September 14, succeeding interim CEO Teri Bariquit. For the second quarter, total revenue was $97.7 million, up 20.8% year-over-year and an all-time record, while gross profit margin improved 609 basis points to 36.1% and adjusted EBITDA reached $12.6 million, or 12.9% of revenue. Rent the Runway ended the quarter with 140,826 active subscribers, down 3.8% year-over-year, and reported free cash flow of negative $21.6 million for year-to-date 2026. To bolster liquidity, the company detailed a $10 million term loan and a planned $15 million rights offering to holders of its Class A common stock, backstopped by certain investors, while reaffirming full-year 2026 guidance for double-digit revenue growth and adjusted EBITDA of 4% to 7% of revenue.