Rent the Runway (RENT) Tops Q2 EPS by 12c, Revs Beat; Guides Revs Lower
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Rent the Runway, Inc. Announces Second Quarter 2022 Results
September 12, 2022 4:01 PM EDTAchieved record quarterly revenue: Q2 2022 revenue up 64% year-over-year
Reduced Q2 2022 net loss by $9M YoY; first quarter of positive Adjusted EBITDA since IPO
Significant increase in Gross Margin to 42%, up 3 percentage points
Announces Restructuring Plan to Reduce $25-$27 Million of Annual Operating Costs, Pulling Forward Path to Profitability
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