Rent the Runway has reported strong performance for its second quarter, with revenue increasing by 20.8 per cent year-on-year to $97.7m.
However, the company had a net loss of $12.9m compared to a previous loss of $26.4m in the year prior.
Rent the Runway’s adjusted EBITDA increased to $12.6m in comparison to $3.6m reported at the same time last year.
Additionally, the brand’s add-on business and add-on bookings increased by 81 per cent annually in the second quarter.
The company expanded its reach with 33 per cent of subscribers using an add-on, up from 29 per cent a year ago.
During the quarter the company completed the rollout of AI-powered outfit generation for its customer base.
Rent the Runway also appointed former Nordstorm executive Paige Thomas as its next CEO and president and member of the board of directors, effective on 14 September, 2026.
Thomas brings extensive experience at retailers to the role, previously working as president and CEO of Saks Off 5th, which includes five years overseeing Nordstorm Rack.
She has been appointed to lead the company’s turnaround strategy with her wide expertise within the company.
Teri Bariquit, interim CEO and president of Rent the Runway said: “This quarter we concentrated our resources on that core, delivered capabilities against the discovery experience we committed to at the start of the year, and began building a 2027 plan centered on transforming the business.”
Paige Thomas, CEO of Rent the Runway said: “I’m focused on listening to our customer and making every decision through her lens, doubling down on fashion and what makes this fashion service platform unique, while executing with operational excellence.
“This is not a new direction—it’s an acceleration of the strong foundation the team has built. The path is clear, and I’ve never been more excited to lead the team forward.”
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