Rent the catwalk stock crashes after the Q2 report: Details – Rent the Runway (Nasdaq: Rent)

Rent the Runway, Inc. Rent The stock decreased after the results of the second quarter after the Thursday final bell were released. Here is a look at the details in the report.

The details: Rent the runway reported wider than expected quarterly losses of $ 6.55 per share, compared to the estimate of the analysts for losses of $ 5.48.

The quarterly turnover came to $ 80.9 million, which defeated the estimate of $ 75.5 million.

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The company also announced a recapitalization plan to reduce debts from $ 340 million to $ 120 million and to extend the duration of the debt until 2029.

Rent the catwalk reported the following Q2 key statistics:

• 146,373 termination of active subscribers, which represents an increase of 13.4% compared to 129,073 at the end of the second quarter of the tax year 2024.
• 146,765 Average active subscribers, which represents an increase of 6.8% compared to 137,455 at the end of the second quarter of the tax year 2024.
• 185.102 Ending total subscribers, which represents an increase of 5.7% compared to 175,087 at the end of the second quarter of the tax year 2024.

“We are at a crucial moment to rent the runway with our a re -capitalization plan and a continuous business momentum,” said Jennifer HymanCo-founder and CEO of Rent The Runway.

“Reducing our fault from $ 340 million to $ 120 million, while the extension of the duration to 2029 gives us the financial flexibility that we need to execute fully during our turnaround. The figures speak for itself-13.4% on an annual basis of subscriber growth, customer satisfaction on the highest in three years and involvement in the here,” involvement. ”

Rent of rent: According to data from PetrolRent the catwalk shares fell 26.74% to $ 5.78 in the extensive trade on Thursday.

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