Rent the Runway, Inc. (NASDAQ:RENT) Q2 2024 Earnings Conference Call September 5, 2024 4:30 PM ET

Corporate Participants

Cara Schembri - Chief Legal & Administrative Officer
Jennifer Hyman - Co-Founder, Chief Executive Officer and Chair
Siddharth Thacker - Chief Financial Officer

Conference Call Participants

Matt Condon - Citizens JMP Securities
Ashley Helgans - Jefferies

Operator

Welcome to Rent the Runway's Second Quarter 2024 Earnings Results Conference Call. At this time, all participants are on 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 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 Q2 2024 earnings presentation, which can be found in the events and presentation 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 which 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 within 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 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 last two earnings calls, I highlighted our two big goals for 2024, getting to free cash flow break-even and returning to growth. I'm excited to report results for Q2 that beat our expectations. And as a result, we're raising revenue guidance for the full year. What you're seeing in our results is momentum. We've dramatically simplified our internal goals and organizational structure so that we can aggressively pursue the biggest opportunity areas for our business.