Rent the Runway, Inc. announced its financial results for the first quarter ended April 30, 2025, on June 5, 2025. The company reported total revenue of $69.6 million, a decrease of 7.2% compared to $75.0 million in the prior year period.
Despite the revenue decline, a key positive was the return to sequential subscriber growth, with 147,157 Active Subscribers at quarter-end, an increase from 119,778 at the end of Q4 FY24 and up approximately 1% year-over-year. This marks the highest quarter-ending active subscriber count in company history and the strongest quarterly customer retention in four years.
The company's Adjusted EBITDA for Q1 2025 was negative $1.3 million. Rent the Runway reaffirmed its fiscal year 2025 outlook, expecting double-digit growth in ending active subscribers and full-year cash consumption between negative $30 million and negative $40 million. For the second quarter of 2025, revenue is anticipated to be between $76 million and $80 million.
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