Rent the Runway Q2 Revenue Jumps 21% to $97.7M, Names Paige Thomas CEO
RENT sits 18% above its 52-week low of $2.6 on elevated volume (2.0× avg).
Summary
Rent the Runway reported Q2 FY2026 revenue of $97.7M (up 20.8% YoY), Adjusted EBITDA of $12.6M, and named Paige Thomas as CEO effective September 14, 2026. Cash declined to $29.0M and FY26 guidance was reaffirmed.
Key Events · Earnings and Guidance · RENT
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Q2 Revenue Hits All-Time High
Total revenue reached $97.7 million, up 20.8% year-over-year from $80.9 million, driven by subscription and Reserve rental revenue of $83.8 million.
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Profitability Improves Sharply
Adjusted EBITDA was $12.6 million (12.9% margin) versus $3.6 million (4.4% margin) a year ago; net loss narrowed to $(12.9) million from $(26.4) million.
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Gross Margin Expands 609 bps
Gross profit rose 45.3% to $35.3 million, lifting gross margin to 36.1% from 30.0% in Q2 FY2025.
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New CEO Appointed
Paige Thomas becomes CEO and President effective September 14, 2026, succeeding interim CEO Teri Bariquit, who becomes non-executive Chair; Dhiren Fonseca steps down as Executive Chairman.
Analysis · RENT · Trade & Services
Rent the Runway delivered its strongest revenue quarter ever at $97.7 million, up 20.8% year-over-year, with gross margin expanding 609 basis points to 36.1% and Adjusted EBITDA swinging to $12.6 million from $3.6 million a year ago. The company also named Paige Thomas as permanent CEO effective September 14, ending a months-long interim leadership period. Against that backdrop, cash and equivalents fell to $29.0 million from $43.6 million a year earlier, and the company reaffirmed full-year guidance while cutting its rental product acquisition budget to $53-55 million from $74.9 million — a sign of disciplined capital allocation amid liquidity pressure. The results and leadership change come just days after a $9 million securities litigation settlement and a $10 million incremental term loan, underscoring both operational momentum and ongoing financial constraints.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 29.4% of the 1386 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.50%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, RENT was trading at $3.06 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $94.7M. The 52-week trading range was $2.60 to $10.13. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.