Is It Too Late to Buy Rent the Runway Stock?
Rent the Runway's (NASDAQ: RENT) stock skyrocketed 74% on Dec. 8 after the high-end apparel rental marketplace posted its latest quarterly report. For the third quarter of fiscal 2022, which ended on Oct. 31, its revenue rose 31% year over year to $77.4 million and beat analysts' estimates by $4.1 million. Its net loss narrowed from $87.8 million to $36.1 million, or $0.56 per share, which met the consensus forecast.
Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at positive $6.6 million, compared to an adjusted EBTIDA loss of $5.6 million a year ago and the consensus forecast of positive $1.3 million. As a result, its adjusted EBITDA margin expanded from negative 9.5% to positive 8.5%.
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Source Fool.com
