RENT•RENT•Rent the Runway reported Q1 revenue of $89.9 million, a 29.2% year-over-year increase, with add-on revenue surging 70.4% and active subscribers rising 5.8% to 155,692. The company appointed Teri Bariquit as interim CEO, Paige Thomas as chief commercial officer and Dave Loretta as interim CFO while reaffirming FY26 guidance.
In the quarter ended April 30, 2026, Rent the Runway posted revenue of $89.9 million, up 29.2% year-over-year, with add-on revenue rising 70.4% YoY and active subscribers increasing 5.8% to 155,692. EBITDA margin also exceeded internal forecasts, reflecting gains from inventory infusions and product enhancements.
In May 2026, Teri Bariquit was named interim CEO and president, succeeding co-founder Jennifer Hyman, while Paige Thomas joined as chief commercial officer and Dave Loretta assumed the role of interim CFO. Bariquit brings 37 years of retail leadership from Nordstrom, Thomas adds over 25 years of merchandising experience, and Loretta contributes more than a decade of financial leadership at Nordstrom and other retail firms.
In April 2026, personalized discovery carousels launched for all subscribers, leading to an 11% increase in "hearting" behavior on the home page. The company also upgraded its visual experience with AI-driven imagery, boosting views on key styles by 129%, and is internally testing AI-powered outfit generation ahead of broader rollout.
Rent the Runway reaffirmed its fiscal 2026 targets for revenue, adjusted EBITDA and rental product acquired, underpinned by a renewed capital structure and diversified revenue streams. Management highlighted ongoing investments in AI-driven personalization and early-stage growth initiatives across marketplace, advertising and B2B segments.
