Rent the Runway faces the music as Wall Street braces for Q4 results [Seeking Alpha]
Rent the Runway, Inc. - Class A (RENT)
Company Research
Source: Seeking Alpha
ahead of Q4 results after the close, and volume more than 25 times the daily average. Since going public in October 2021, the company has yet to earn a profit as subscriptions drop and costs remain steady. After disappointing Q3 results, Rent the Runway ( RENT ) initiated a restructuring plan that included a 10% reduction in its workforce. The measure is expected to be substantially completed by the end of Q4 2023 and fully completed by the end of Q2 2024. While it will cost approximately $3M to $4M in employee severance and related costs, it is expected to result in savings of $11M to $13M of annualized run rate cash. For Q4, Rent the Runway ( RENT ) is expected to report an adjusted loss of $5.80 per share on $74.4M in revenue, a 2.6% increase from the previous quarter but 1.3% lower from Q4 2022. Investors will be looking for signs that the company has put a dent in expenses, as well as the direction of subscriptions. Despite efforts to improve the apparel assortment, the compa
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News
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- Rent the Runway Stock Surge Shows Investors' Penchant for AI [Yahoo! Finance]Yahoo! Finance
RENT
Earnings
- 4/10/24 - Miss
RENT
Sec Filings
- 4/18/24 - Form 144/A
- 4/12/24 - Form 144
- 4/12/24 - Form 144
- RENT's page on the SEC website