Rent the Runway, Inc. announced its financial results for the third quarter ended October 31, 2024, on December 9, 2024. The company reported improved business momentum, with revenue growth accelerating for the fourth consecutive quarter.
A key highlight was the return to year-over-year growth in ending Active Subscribers, indicating a positive shift in customer acquisition and retention trends. The company also achieved record low cash consumption for the nine months ending October 31, 2024.
Rent the Runway reiterated its expectation to achieve free cash flow breakeven for the full fiscal year 2024. For the fourth quarter of 2024, the company projected revenue between $70 million and $74 million, and for the full fiscal year 2024, revenue is expected to be between $290 million and $294 million.
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