Rent The Runway reports Q3 EPS (56c), consensus (56c)

Reports Q3 revenue $77.4M, consensus $72.91M. Reports 134,240 ending active subscribers, representing an increase of 15% year-over-year. Reports 176,167 ending total subscribers, representing an increase of 17% year-over-year. "I’m pleased to share that we exceeded our Q3 ’22 Revenue and Adjusted EBITDA guidance. Revenue for the quarter was $77.4 million, up 31% compared to Q3 ’21. We’re proud of our strong Adjusted EBITDA margin this quarter, which was up significantly versus the same period last year. We are also raising guidance for the year despite a tough environment," said Jennifer Hyman, CEO and co-founder of Rent the Runway. "Our restructuring plan, now substantially complete, allows us to invest in our customer proposition while significantly improving cash burn. We made considerable progress in 2022 in key foundational technology and customer initiatives. Over the coming year, we look forward to providing even more value to our customers and brand partners."