Rent the Runway, Inc. (NASDAQ:RENT) Q4 2021 Earnings Conference Call April 13, 2022 5:00 PM ET

Company Participants

Janine Stichter - Vice President of Investor Relations

Jen Hyman - Co-Founder, Chair & Chief Executive Officer

Scarlett O'Sullivan - Chief Financial Officer

Conference Call Participants

Lauren Schenk - Morgan Stanley

Ike Boruchow - Wells Fargo

Dan Silverstein - Credit Suisse

Eric Sheridan - Goldman Sachs

Ross Sandler - Barclays

Andrew Boone - JMP Securities

Dana Telsey - Telsey Advisory Group

Ashley Helgans - Jefferies

Operator

Welcome to Rent the Runway's Fourth Quarter and Full Year 2021 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to Vice President of Investor Relations, Janine Stichter. Thank you. You may begin.

Janine Stichter

Good afternoon, everyone, and thanks for joining us to discuss Rent the Runway's fourth quarter and fiscal year 2021 results.

Before we begin, we'd like to remind you that this call will include forward-looking statements. These statements include our future expectations regarding financials and guidance market opportunities and our growth. These statements are subject to various risks uncertainties and assumptions that could cause our actual results to differ materially.

These risks uncertainties and assumptions are detailed in this evening's press release as well as our filings with the SEC, including our Form 10-K that will be filed in the next few days. We undertake no obligation to revise or update any forward-looking statements or information except as required by law.

During this call, we will also reference certain non-GAAP financial information. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Reconciliations of GAAP to non-GAAP measures can be found in our press release, slide presentation posted on our investor website, and our SEC filings.

And with that, I'll turn it over to Jen.

Jen Hyman

Hi, everyone. Thanks for joining us today. Our team executed very well in Q4 despite a very challenging macro environment, driven by a significant and unanticipated COVID resurgence, event cancellations, as well as offices remaining closed. We exceeded our revenue guidance, exceeded our average revenue per subscriber expectation, grew subscribers 110% year-over-year, and drove better-than-expected bottom line performance.