Rent the Runway Sees Q3 Revenue $75M-$77M Vs $75.57M Est.; FY24 Revenue Growth Of 2%-6% YoY, An Increase Versus Prior Expectations Based On Stronger Business Momentum
Portfolio Pulse from Benzinga Newsdesk
Rent the Runway has updated its financial outlook, expecting Q3 revenue between $75M-$77M, slightly above estimates. FY24 revenue growth is projected at 2%-6% YoY, indicating stronger business momentum. Adjusted EBITDA margin is expected to be 15%-16%, with free cash flow breakeven for the year.
September 05, 2024 | 8:17 pm
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Rent the Runway has revised its financial outlook upwards, with Q3 revenue expected between $75M-$77M, slightly above estimates. FY24 revenue growth is projected at 2%-6% YoY, indicating stronger business momentum. Adjusted EBITDA margin is expected to be 15%-16%, with free cash flow breakeven for the year.
The upward revision in Rent the Runway's financial outlook suggests stronger business momentum, which is likely to positively impact investor sentiment and the stock price in the short term. The expected revenue and EBITDA margin improvements indicate better operational performance.
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