Rent the Runway reports second-quarter revenue of $97.7 million and appoints Paige Thomas as CEO
The rental e-commerce company delivered 20.8% year-over-year revenue growth, adjusted its earnings guidance for fiscal 2026, and named former Saks vice president Paige Thomas as its new chief executive officer.
Rent the Runway, Inc. announced financial results for the quarter ended July 31, 2026. Total revenue reached $97.7 million, a 20.8% increase compared to the prior year. The company reported a net loss of $(12.9) million, representing 13.2% of revenue, down significantly from $(26.4) million in the same period last year. Adjusted EBITDA totaled $12.6 million, or 12.9% of revenue. Management cited gross margin expansion of 609 basis points and strict control over operating expenses as primary drivers for these adjustments. In a separate announcement, Rent the Runway appointed Paige Thomas to serve as Chief Executive Officer and President. Teri Bariquit was named Chair of the Board. The company confirmed it is reaffirming its fiscal 2026 guidance for both revenue and Adjusted EBITDA. During the period, add-on bookings increased 81% year-over-year, with 33% of subscribers utilizing add-on services compared to 29% a year prior. Additionally, the firm completed the rollout of AI-powered outfits generation across its customer base.
