Rent The Runway sees FY24 revenue up 1%-6%, consensus $296.37M

Sees FY24 adjusted EBITDA margin 15%-16%. Sees FY24 free cash flow breakeven. “We believe fiscal year 2024 will be a transformative year for Rent the Runway,” said Sid Thacker, CFO, Rent the Runway. “Over the past several years, we have reduced fixed costs significantly and made considerable progress towards building a more capital-light model. We expect these actions to result in free cash flow breakeven for fiscal year 2024. Importantly, we believe that the cost and capital expenditure decisions that are important components of our free cash flow breakeven plan have already been made. We have conviction that Rent the Runway is poised to exit fiscal year 2024 as a sustainable, growing, and free cash flow breakeven business.”