Rent the Runway is working toward profitability in 2022. Net loss in 2021 totaled $211.8 million, with $51.5 million accounting for initial public offering (IPO) expenses and other one-time charges since Rent the Runway’s IPO in October 2021. 31, 2022, revenue was $203.3 million, a 29% increase year over year compared with $157.5 million in fiscal year 2020 when the pandemic forced businesses to shut down and people canceled social gatherings. Rent the Runway revenue increased about 91% to $64.1 million for Q4 fiscal year 2021, compared with $33.5 million Q4 2020.įor the fiscal year ending Jan. In fiscal 2022, the retailer is “on track to achieve 77% year-over-year growth in active subscribers at the end of Q1 ,” Chief Financial Officer Scarlett O’Sullivan said during the earnings call. During its Q4 20 fiscal year earnings call April 13, the company spoke of its subscription pricing and new subscription acquisition plans, efforts to offset shipping costs with its at-home pickup service, and increased investment in automation technology.ĭuring the call, Rent the Runway executives said they expect the momentum from weddings, social occasions and return-to-work situations to carry into the fiscal year 2022.
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Revenue is up for designer clothing rental company Rent the Runway, as the service looks ahead to a year full of social gatherings prompting customers to rent designer apparel. Racing Ahead for Success in B2B EcommerceĬreate, Launch and Run Your Commerce Marketplace
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