Rent the Runway Q2 Revenue Hits Record $97.7 Million, Names Paige Thomas CEO

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โดย MarketBeat·US·Read original
Summary · why it matters

Rent the Runway reported record second-quarter revenue of $97.7 million, up 20.8% year over year and 8.7% sequentially, while adjusted EBITDA rose to $12.6 million from $3.6 million and gross margin expanded to 36.1% from 30%. The company also announced that Paige Thomas will become chief executive officer, president and a board member effective Sept. 14, with interim CEO Teri Bariquit moving to non-executive chair of the board on the same date. Ending active subscribers fell 3.8% to 140,826 as pauses increased and promotions were reduced, though average active subscribers rose 1% to 148,259. Rent the Runway paused its marketplace, on-site advertising monetization and new business-to-business dry-cleaning initiatives, announced a $15 million rights offering backstopped by Story3 Capital Partners, Nexus Capital Management and Ares Principal Strategies, and secured a $10 million term loan. The company reaffirmed fiscal 2026 guidance for double-digit revenue growth and adjusted EBITDA of 4% to 7% of revenue, but forecast third-quarter revenue of $87 million to $90 million, flat to up 3% year over year, with adjusted EBITDA of negative 3% to negative 6% of revenue.

Impact on stocks 1

Consumer Discretionary▲ · 1 stocks
Rent the Runway Inc
RENT
± MixedCapitalDemandrelevance

Record Q2 revenue and higher EBITDA, but Q3 guidance implies flat-to-down revenue and negative EBITDA margins.

Off-coverage companies 3

Aranda Principal StrategiesPrivate± Mixed
Capitalrelevance

Aranda Principal Strategies is named as a backstop for Rent the Runway's $15 million rights offering.

Nexus Capital ManagementPrivate± Mixed
Capitalrelevance

Nexus Capital Management is named as a backstop for Rent the Runway's $15 million rights offering.

STORY3 Capital PartnersPrivate± Mixed
Capitalrelevance

Story3 Capital Partners is named as a backstop for Rent the Runway's $15 million rights offering.

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