Rent the Runway Inc - Ordinary Shares - Class A

NASDAQ:RENT   3:59:56 PM EDT
2.36
-0.06 (-2.48%)
Other Pre-Announcement

Rent The Runway Posts Qtrly Loss Per Share $0.53

Published: 09/12/2022 21:34 GMT
Rent the Runway Inc - Ordinary Shares - Class A (RENT) - Rent the Runway, Inc. Announces Second Quarter 2022 Results.
Rent the Runway Inc - Qtrly Revenue Up 64%.
Rent the Runway Inc - Announces Restructuring Plan to Reduce $25-$27 Million of Annual Operating Costs, Pulling Forward Path to Profitability.
Rent the Runway Inc- Total Workforce Reductions of Approximately 24% of Corporate Employees.
Rent the Runway Inc - Restructuring Plan is Expected to Generate Annual Operating Expense Savings of $25 to $27 Million in Fiscal 2023.
Rent the Runway Inc - Sees FY22 Revenue in Range of $285 Million to $290 Million.
Rent the Runway Inc- Sees Q3 Revenue Between $72.0 Million - $74.0 Million.
Rent the Runway Inc - Estimates That It Will Incur Total Cash Charges for Employee Severance and Related Costs of Approximately $2.5 Million.
Rent the Runway Inc - Qtrly Loss per Share $0.53.
Rent the Runway Inc - Qtrly Revenue Was $76.5 Million, a 64% Increase.