Rent the Runway, Inc. (NASDAQ:RENT) Q1 2024 Earnings Conference Call June 6, 2024 4:30 PM ET

Company Participants

Cara Schembri - Chief Legal & Administrative Officer
Jennifer Hyman - Co-Founder, President, CEO & Chairman
Siddharth Thacker - Chief Financial Officer

Conference Call Participants

Andrew Boone - JMP Securities
Blake Anderson - Jefferies

Operator

Welcome to Rent the Runway's First Quarter 2024 Earnings 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 call is being recorded.

I would now like to turn the call over to Rent the Runway's Chief Legal and Administrative Officer, Cara Schembri. Thank you. You may begin.

Cara Schembri

Good afternoon, everyone, and thanks for joining us today. During this call, we will make references to our Q1 2024 earnings presentation, which can be found in the Events and Presentations section of our Investor Relations website.

Before we begin, we would like to remind you that this call will include forward-looking statements. These statements include our future expectations regarding financial results, guidance and targets, 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 afternoon's press release as well as our filings with the SEC, including our Form 10-Q that will be filed today. 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 in our SEC filings.

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

Jennifer Hyman

Thanks, Cara, and thank you, everyone, for joining. On our Q4 earnings call, I shared that 2024 would be focused on two major goals for Rent the Runway. One, getting to free cash flow breakeven for full year 2024; and two, reigniting the growth flywheel of the business. I'm proud to report that we believe we are well on our way on both fronts. And as a result, we are reiterating our guidance for the year.