Rent the Runway: EBITDA Turns Profitable, Exceeding Expectations with 11% YoY Revenue Growth

6月 09, 2023

Rent the Runway, the US-based internet clothing rental platform, announced its key financial data for the first quarter of the fiscal year 2023, ending on April 30th, after the closing of the market on June 7th. The company reported year-over-year revenue growth of 11% to $74.2 million, with gross profit surging 40% to $31.4 million. Moreover, it achieved a significant turnaround in EBITDA, reaching $4.5 million in profit, and further narrowed its net loss to $30.1 million.
Jennifer Hyman, CEO and co-founder of Rent the Runway, expressed that “I’m proud of the momentum we’re con …