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Rent the Runway, Inc.

CIK:0001468327|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
Revenue:
Subscription and Reserve rental revenue	$ 83.8	$ 69.2	$ 161.5	$ 131.2
Other revenue	13.9	11.7	26.1	19.3
Total revenue, net	97.7	80.9	187.6	150.5
Costs and expenses:
Fulfillment	23.5	22.5	47.1	42.9
Technology	9.8	9.8	19.2	19.4
Marketing	7.4	7.4	15.4	16.0
General and administrative	23.8	24.6	47.2	45.3
Rental product depreciation and revenue share	38.9	34.1	81.9	61.4
Other depreciation and amortization	2.1	2.6	4.3	5.3
Total costs and expenses	105.5	101.0	215.1	190.3
Operating loss	(7.8)	(20.1)	(27.5)	(39.8)
Interest income / (expense), net	(0.2)	(6.9)	(0.5)	(13.2)
Other income / (expense), net	1.3	0.6	2.4	0.7
Securities litigation expense	(6.1)	0.0	(6.1)	0.0
Net loss before income tax benefit / (expense)	(12.8)	(26.4)	(31.7)	(52.3)
Income tax benefit / (expense)	(0.1)	0.0	(0.1)	(0.2)
Net loss	$ (12.9)	$ (26.4)	$ (31.8)	$ (52.5)
Net loss per share attributable to common stockholders, basic (in usd per share)	$ (0.38)	$ (6.23)	$ (0.95)	$ (12.49)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (0.38)	$ (6.23)	$ (0.95)	$ (12.49)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	33,576,091	4,237,890	33,501,272	4,203,550
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	33,576,091	4,237,890	33,501,272	4,203,550

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
OPERATING ACTIVITIES
Net loss	$ (31.8)	$ (52.5)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Rental product depreciation and write-offs	20.8	21.6
Write-off of rental product sold	7.7	7.5
Other depreciation and amortization	4.3	5.3
Proceeds from rental product sold	(13.3)	(11.8)
(Gain) / loss from liquidation of rental product	0.1	(0.4)
Accrual of paid-in-kind interest	5.4	7.2
Amortization of debt (premium) discount	(4.5)	3.0
Share-based compensation expense	2.2	2.9
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	0.3	(3.2)
Operating lease right-of-use assets	1.8	1.4
Other assets	1.5	(1.2)
Accounts payable, accrued expenses and other current liabilities	2.5	18.7
Deferred revenue and customer credit liabilities	0.9	1.3
Operating lease liabilities	(2.8)	(2.2)
Other liabilities	(0.1)	0.2
Net cash (used in) provided by operating activities	(5.0)	(2.2)
INVESTING ACTIVITIES
Purchases of rental product	(27.7)	(42.0)
Proceeds from liquidation of rental product	0.8	1.6
Proceeds from sale of rental product	13.3	11.8
Purchases of fixed and intangible assets	(3.0)	(2.1)
Net cash (used in) provided by investing activities	(16.6)	(30.7)
FINANCING ACTIVITIES
Proceeds from issuance of common stock	0.2	0.0
Other financing payments	(0.5)	(1.4)
Net cash (used in) provided by financing activities	(0.3)	(1.4)
Net (decrease) increase in cash and cash equivalents and restricted cash	(21.9)	(34.3)
Cash and cash equivalents and restricted cash at beginning of period	59.1	86.5
Cash and cash equivalents and restricted cash at end of period	37.2	52.2
Cash payments (receipts) for:
Interest paid on loans	2.8	0.0
Fixed operating lease payments, net	5.9	5.7
Fixed assets and intangibles received in the prior period	0.2	0.0
Rental product received in the prior period	1.6	2.7
Non-cash financing and investing activities:
Purchases of fixed assets and intangibles not yet settled	0.3	0.1
Purchases of rental product not yet settled	$ 1.4	$ 4.4

Condensed Consolidated Balance Sheets - USD ($)
$ in Millions

Jul. 31, 2026

Jan. 31, 2026

Current assets:

Cash and cash equivalents

$ 29.0

$ 50.4

Restricted cash, current

4.0

4.5

Prepaid expenses and other current assets

11.5

11.8

Total current assets

44.5

66.7

Restricted cash

4.2

Rental product, net

84.1

86.0

Fixed assets, net

22.9

24.0

Intangible assets, net

1.9

2.0

Operating lease right-of-use assets

27.5

29.3

Other assets

7.3

8.8

Total assets

192.4

221.0

Current liabilities:

Accounts payable

4.4

9.9

Accrued expenses and other current liabilities

36.5

29.1

Deferred revenue

13.0

12.0

Customer credit and gift card liabilities

6.5

6.6

Operating lease liabilities

5.7

5.6

Total current liabilities

66.1

63.2

Long-term debt, net

157.5

156.6

Operating lease liabilities

32.8

35.7

Other liabilities

1.5

1.6

Total liabilities

257.9

257.1

Commitments and Contingencies (Note 14)

Stockholders’ equity (deficit)

Preferred stock, $0.001 par value; no shares authorized as of July 31, 2026 and 10,000,000 shares authorized as of January 31, 2026; 0 shares issued and outstanding as of July 31, 2026 and January 31, 2026

^[1]

0.0

Additional paid-in capital

1,066.7

1,064.3

Accumulated deficit

(1,132.2)

(1,100.4)

Total stockholders’ equity (deficit)

(65.5)

(36.1)

Total liabilities and stockholders’ equity (deficit)

192.4

221.0

Common Class A

Stockholders’ equity (deficit)

Common stock, value, issued

0.0

Common Class B

Stockholders’ equity (deficit)

Common stock, value, issued

^[1]

$ 0.0

[1]	(1) In July 2026, the Company’s stockholders approved the elimination of the Company’s authorized shares of Class B common stock and preferred stock. See Note 2, “Summary of Significant Accounting Policies” and Note 10, “Stockholders’ Equity” for additional details.