Rent The Runway Results Presentation Deck
April 2023, 41 slides
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earnings presentation | Rent The Runway
forward looking statements disclaimer | Rent The Runway
contents summary strategy guidance path to pro profitability | Rent The Runway
summary | Rent The Runway
improved the financial pro of since profile significantly i | Rent The Runway
key metrics and financial highlights total revenue up yoy active subscribers up yoy average active subs up yoy total subscribers up yoy gross pro margin net loss margin margin margin up yoy margin up yoy margin up yoy one | Rent The Runway
key metrics and financial highlights total revenue up yoy active subscribers up yoy average active subs up yoy total subscribers up yoy gross pro margin net loss margin margin margin up yoy margin up yoy margin up yoy | Rent The Runway
record number of active subscribers as of ending active subscribers yoy i i | Rent The Runway
strong revenue growth of in and in of revenue from subscribers in of subscribers added one or more paid items into their subscriptions in i | Rent The Runway
revenue to gross pro and of revenue of revenue profit | Rent The Runway
revenue to gross pro and of revenue of revenue profit i i i i i pal | Rent The Runway
gross pro to adjusted and profit he i a | Rent The Runway
gross pro to adjusted and profit revenue wey | Rent The Runway
adjusted to free cash flow and of of | Rent The Runway
strategy | Rent The Runway
our revenue is driven by strong customer loyalty total revenue net by customer cohort year revenue supported by strong cohort retention consistency and stability over time strong historical revenue retention across cohorts despite business changes large and loyal base of customers supports revenue each year over a third of revenue generated by cohorts that are over years old | Rent The Runway
addressing first day experience can meaningfully augment loyalty of total subscribers who churn do so within their first days top reasons for new customer churn time and ort to pick clothes anxiety driven by steep learning curve perceived clothing availability price and value | Rent The Runway
happy customers in organic growth top subscriber responses to how did you hear about rent the runway higher retention matters for organic growth and has the potential to drive marketing of total subscription acquisitions have been organic in the majority of our customers hear about from someone they know more customers drive more positive reviews more referrals and greater organic growth influence | Rent The Runway
extra items is a first step towards improving customer experience new subscription plans launched on march old plans new plans monthly price shipments month items per month items per month better price value items for per item she doing the math | Rent The Runway
we believe and have seen early evidence that higher item subscription plans have halo effects that improve the business so | Rent The Runway
extra item launch already generating increased momentum above expectations improvement in subscriber retention post extra item launch period cant increase in former customers rejoining per day post extra item launch period top tra day and top tra week since during the extra item launch period driven by marketing campaign reduction in proportion of subscribers entering pause and percentage of total subscribers that are paused post extra item launch period positive customer reaction in surveys and customer service feedback customer engagement metrics such as shipment rate indicative of solid customer enthusiasm | Rent The Runway
strategy directly addresses new customer opportunities improved search discovery inventory she wants when she wants it faster site and personalized majority of our internal resources focused on innovations for our customers | Rent The Runway
guidance | Rent The Runway
typical seasonality would indicate growth in quarter ending active subscribers each year indexed to did not exhibit historical seasonal patterns for active subscriber growth and are net subscriber addition quarters among other factors was impacted by the price increase in last years has seen lower ending active subscribers versus | Rent The Runway
expect ending active subscriber growth in ending active subscribers strong start to extra item launch ending active subscribers as of yoy subscriber growth rate comparison to post omicron recovery anticipated customer experience initiatives expected to boost growth | Rent The Runway
revenue growth expected to lag subscriber growth subscriber and revenue guidance subscribers in revenue in | Rent The Runway
and fiscal year guidance guidance total revenue adjusted fiscal year guidance of total revenue total revenue than ending active subscriber growth growth adjusted free cash flow purchases of rental product of total revenue better than | Rent The Runway
path to pro profitability | Rent The Runway
anticipate improvement in free cash flow in free cash flow actual and guidance cash consumption in to bene from revenue growth savings and lower cash interest expense bene from anticipated revenue growth in savings and in lower cash interest expense anticipate cash consumption to decrease to better than | Rent The Runway
illustrative future cash requirements revenue adjusted rental product replenishment and cash required active subscribers ending level carried for a year would require after replenishment of rental product i | Rent The Runway
a existing subscriber base expected to improve cash consumption revenue adjusted rental product replenishment and cash required with existing subscribers adjusted generated covers costs and rental product replenishment illustrative | Rent The Runway
customer acquisition economics are strong cumulative to measured across months strong for cohorts covid impacts and cohorts largely impacted by covid bene ted from high loyalty post recovery from covid trends are in line with expectations all cohorts should bene from extra item launch in future months | Rent The Runway
appendix | Rent The Runway
condensed consolidated statements of operations | Rent The Runway
condensed consolidated balance sheets | Rent The Runway
condensed consolidated statements of cash flows | Rent The Runway
selected cash flows detail and supplemental cash flow information | Rent The Runway
reconciliation of purchases of rental product to rental product acquired | Rent The Runway
reconciliation of cash used by operating activities to free cash flow | Rent The Runway
reconciliation of net loss to adjusted | Rent The Runway
operating expense detail | Rent The Runway
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