- Rent the Runway Inc (NASDAQ:RENT) reported fourth-quarter revenue growth of 91% year-over-year to $64.1 million, beating the consensus estimate of $63.14 million.
- The company had 115,240 ending Active Subscribers, an increase of 110% Y/Y. Total Subscribers were 159,544, an increase of 68% Y/Y.
- The Gross Margin was 36.7% compared to 13.1% in 4Q20.
- EPS was $(0.62), beating consensus estimates of $(0.98).
- Adjusted EBITDA was $(5.5) million, as compared to $(4.3) million a year ago, and the margin was (8.6)%, as compared to (12.8)% in 4Q20.
- Net cash (used in) provided by operating activities totaled $42.3 million for FY21, compared to $42.8 million for FY20.
- 1Q22 Outlook: RENT expects Ending Active Subscribers of 130K to 132K, Revenue in the range of $63.5 million to $64.5 million versus a consensus of $64.3 million, and adjusted EBITDA of $(11.0) million to $(10.5) million.
- FY22 Outlook: Rent the Runway expects revenue from $295 million to $305 million versus a consensus of $202.45 million and an adjusted EBITDA margin of (6)% to (5)%.
- Price Action: RENT shares are trading lower by 5.6% at $5.40 during the post-market session on Wednesday.
