Revenue and Profitability - Revenue for Q1 2025 was 75.0 million in Q1 2024[8] - Gross Profit was 28.4 million in Q1 2024, with a Gross Margin of 31.5% compared to 37.9% in Q1 2024[8] - Net Loss for Q1 2025 was (22.0) million in Q1 2024, representing a net loss as a percentage of revenue of (37.5)%[8] - Adjusted EBITDA was 6.5 million in Q1 2024, with an Adjusted EBITDA Margin of (1.9)%[8] - Total revenue for the three months ended April 30, 2025, was 75.0 million in the same period of 2024[29] - Net loss for the three months ended April 30, 2025, was 22.0 million in the same period of 2024, representing a 18.6% increase in losses[29] - Adjusted EBITDA for the three months ended April 30, 2025, was 6.5 million in the same period of 2024[35] - Adjusted EBITDA margin for the three months ended April 30, 2025, was (1.9)%, down from 8.7% in the same period of 2024[35] Subscriber Metrics - Active Subscribers at the end of Q1 2025 reached 147,157, an increase of 1% from 145,837 in Q1 2024[8] - Average Active Subscribers decreased by 2% to 133,468 from 135,896 in Q1 2024[8] - The company anticipates double-digit growth in ending Active Subscribers for fiscal year 2025 compared to fiscal year 2024[11] Inventory and Customer Engagement - New inventory strategy led to a 24% increase in new inventory receipts in Q1 2025 versus Q1 2024, with expectations of a 134% year-over-year increase for the remainder of the year[4] - Customer engagement metrics improved, with 23% higher share of views and 46% more hearts for Spring 2025 inventory compared to Spring 2024[7] Cash Flow and Assets - Total current assets decreased to 93.9 million as of January 31, 2025[27] - Total liabilities increased to 422.5 million as of January 31, 2025[27] - Cash and cash equivalents at the end of the period were 77.4 million at the beginning of the period[27] - Free cash flow for the three months ended April 30, 2025, was 4.6 million in the same period of 2024[31] - Net cash provided by operating activities increased to 4.6 million in Q2 2024[37] Future Outlook - The company expects revenue for Q2 2025 to be between 80 million[11] Costs and Expenses - Total costs and expenses for the three months ended April 30, 2025, were 91.5 million in the same period of 2024[29] - Free Cash Flow for Q2 2025 was (1.4) million in Q2 2024[37] - Free Cash Flow Margin decreased to (9.2)% in Q2 2025 from (1.9)% in Q2 2024[37] - Purchases of rental products rose to (13.1) million in Q2 2024[37] - Proceeds from the sale of rental products decreased to 6.8 million in Q2 2024[37] - Proceeds from the liquidation of rental products were 1.1 million in Q2 2024[37] - Purchases of fixed and intangible assets increased to (0.8) million in Q2 2024[37]
Rent the Runway(RENT) - 2026 Q1 - Quarterly Results