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Exhibit 99.1 Rent the Runway , Inc. Announces Fiscal Third Quarter Results Active Subscribers up 78 % year - over - year , at 87 % of pre - COVID active subscriber count Revenue grew 66 % year - over - year and 26 % quarter - over - quarter Gross Profit margin of 34 % , up significantly from 7 % in Q3 2020 Majority of rental product acquisition continues through capital - light strategies Paid down approximately one - third of pre - IPO debt balance New York ( Dec. 8 , 2021 ) - Rent the Runway , Inc. ( " Rent the Runway " ) ( NASDAQ : RENT ) , the world's first and largest shared designer closet platform , today reported financial results for the fiscal third quarter ended October 31 , 2021 . " We are excited to share our strong third quarter 2021 results and report for the first time as a public company , " said Jennifer Hyman , CEO and Co - Founder of Rent the Runway . " We delivered significant growth across subscribers and revenue and improved our gross margins . As a leader in clothing subscription and rental with a differentiated operating platform and deep competitive advantages , we believe these metrics are clear indicators of our ongoing business re - acceleration . We are incredibly energized about the opportunity for our Closet in the Cloud and are focused on execution , growing our subscriber base and capitalizing on the major secular trends in our favor including access over ownership , the sustainability of the secondhand economy and financial value . " Fiscal Third Quarter 2021 Key Metrics and Financial Highlights 116,833 ending Active Subscribers ( excluding paused subscribers ) , representing an increase of 78 % year - over - year from 65,545 at the end of the third quarter of 2020 , and representing 87 % of Active Subscribers at the end of fiscal year 2019 . 150,075 ending total subscribers , representing an increase of 45 % year - over - year from 103,708 at the end of the third quarter of 2020 . Revenue was $ 59.0 million , a 66 % increase year - over - year from $ 35.5 million in the third quarter of 2020 . Gross Profit was $ 19.9 million which increased from $ 2.4 million in the third quarter of 2020 . Gross margin was 33.7 % in the third quarter of 2021 , as compared to 6.8 % in the third quarter of 2020 . Net Loss was $ ( 87.8 ) million , as compared to $ ( 44.3 ) million in the third quarter of 2020. Net Loss as a percentage of revenue was ( 148.8 ) % , as compared to ( 124.8 ) % in the third quarter of 2020. Net Loss included a non - recurring $ ( 17.4 ) million non - cash loss on the revaluation of warrants that were exercised or reclassified at IPO , as well as a $ ( 12.2 ) million non - recurring , primarily non - cash loss on the extinguishment of debt paid down concurrently with the IPO . It also included a $ ( 14.4 ) million one - time , non - cash charge associated with the satisfaction of the liquidity based vesting conditions for certain RSUS upon the effectiveness of our IPO . Adjusted EBITDA was $ ( 5.6 ) million , as compared to $ ( 5.4 ) million in the third quarter of 2020. Adjusted EBITDA margin was ( 9.5 ) % , as compared to ( 15.2 ) % in the third quarter of 2020 .