Rent the Runway, Inc. (RENT) Cash Flow Statement
Where RENT’s cash came from and went, FY2026
January 31, 2026 · U.S. dollars- Cash from operations
- $3.5M −72.9% vs FY2025
- Capital expenditures
- $50.1M 15.2% of revenue
- Free cash flow
- −$46.6M −14.1% margin
- Returned to shareholders
- $400,000
- Change in cash
- −$27.4M cash at year-end $59.1M
Drawn to scale: where the cash came from and how it was used. Hover for values.
RENT operating cash flow, capex and free cash flow
RENT cash flow trends, FY2013–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$1.6MFY2013 | $3.5MFY2026 | — | |
| Capital expenditures | $7.1MFY2013 | $50.1MFY2026 | +24.2%/yr | |
| Free cash flow | −$8.8MFY2013 | −$46.6MFY2026 | — | |
| Free cash flow margin | −8.8%FY2013 | −14.1%FY2026 | −5.3 pts | |
| Stock-based compensation | $21.8MFY2013 | $4.2MFY2026 | −16.7%/yr | |
| Share buybacks (net) | $3.7MFY2015 | $400,000FY2026 | −27.2%/yr | |
| Capex / revenue | 7.2%FY2013 | 15.2%FY2026 | +8.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RENT cash flow by activity
RENT net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
RENT cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $22.6M | −$69.9M | −$113.2M | −$138.7M | −$211.8M | −$171.1M | −$153.9M | −$2.0M | −$4.3M | −$22.6M |
| Depreciation & amortization | $53.3M | $58.7M | $105.0M | $97.4M | $65.1M | $80.0M | $83.2M | $7.5M | $5.9M | $5.0M |
| Stock-based compensation | $4.2M | $9.7M | $26.2M | $25.4M | $26.6M | $8.2M | $6.8M | −$200,000 | $2.7M | $21.8M |
| Change in working capital | −$7.7M | −$4.5M | −$11.7M | −$7.2M | $11.1M | $1.0M | $8.1M | $55.0M | $2.5M | −$3.3M |
| Other non-cash items | −$68.9M | $18.9M | −$22.0M | −$24.6M | $66.7M | $39.1M | $18.2M | −$50.5M | −$631,000 | −$2.5M |
| Cash from operating activities | $3.5M | $12.9M | −$15.7M | −$47.7M | −$42.3M | −$42.8M | −$37.6M | $9.8M | $6.3M | −$1.6M |
| Investing activities | ||||||||||
| Capital expenditures | −$50.1M | −$53.6M | −$82.5M | −$71.0M | −$41.1M | −$78.7M | −$161.5M | −$10.9M | −$7.7M | −$7.1M |
| Investments (net) | — | −$20.1M | −$54.6M | −$44.3M | −$22.5M | −$58.4M | −$138.6M | — | — | — |
| Acquisitions & other investing | $600,000 | $53.6M | $82.5M | $71.0M | $41.1M | $78.7M | $161.5M | −$62.0M | −$996,000 | $5.6M |
| Cash from investing activities | −$49.5M | −$20.1M | −$54.6M | −$44.3M | −$22.5M | −$58.4M | −$138.6M | −$72.9M | −$8.7M | −$1.5M |
| Financing activities | ||||||||||
| Share repurchases & issuance (net) | −$400,000 | — | — | — | $351.8M | — | — | −$3.7M | — | — |
| Net borrowing (repayment) | $21.1M | $2.0M | $1.6M | $0 | −$134.7M | $110.9M | $43.1M | — | — | — |
| Shares issued | $12.5M | $0 | $0 | $0 | $348.5M | $60.4M | $133.8M | $0 | $0 | $0 |
| Other financing | −$14.6M | −$2.3M | −$900,000 | −$4.0M | −$350.4M | −$2.8M | $1.0M | $66.0M | $3.5M | $1.8M |
| Cash from financing activities | $18.6M | −$300,000 | $700,000 | −$4.0M | $215.2M | $168.5M | $177.9M | $62.3M | $3.5M | $1.8M |
| Summary | ||||||||||
| Net change in cash | −$27.4M | −$7.5M | −$69.6M | −$96.0M | $150.4M | $67.3M | $1.7M | −$1.4M | $1.3M | −$1.7M |
| Cash at end of period | $59.1M | $86.5M | $94.0M | $163.6M | $259.6M | $109.2M | $41.9M | $3.7M | $5.1M | $3.8M |
| Free cash flow | −$46.6M | −$40.7M | −$98.2M | −$118.7M | −$83.4M | −$121.5M | −$199.1M | −$1.0M | −$1.4M | −$8.8M |
| Free cash flow margin | −14.1% | −13.3% | −32.9% | −40.0% | −41.0% | −77.1% | −77.5% | −1.0% | −1.8% | −8.8% |
| Capex / revenue | 15.2% | 17.5% | 27.7% | 24.0% | 20.2% | 50.0% | 62.9% | 10.5% | 10.1% | 7.2% |
| Operating cash flow / net income | 0.15 | — | — | — | — | — | — | — | — | — |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$12.9M | −$18.9M | −$1.4M | $76.5M | −$26.4M | −$26.1M | −$13.4M | −$18.9M | −$15.6M | −$22.0M | −$24.8M | −$31.5M |
| Depreciation & amortization | $41.0M | $45.2M | $36.9M | $40.2M | $8.6M | $13.0M | $13.6M | $31.2M | $15.3M | $14.6M | $15.8M | $15.5M |
| Stock-based compensation | $700,000 | $1.5M | $400,000 | $900,000 | $1.4M | $1.5M | $2.1M | $2.2M | $2.4M | $3.0M | $5.1M | $4.9M |
| Change in working capital | $800,000 | $1.1M | −$18.9M | −$3.8M | −$200,000 | $15.2M | −$7.0M | $1.5M | −$4.4M | $5.4M | −$9.0M | $100,000 |
| Other non-cash items | −$30.8M | −$32.7M | −$9.9M | −$115.2M | $6.1M | $4.7M | $6.1M | −$11.3M | $4.5M | $3.6M | $4.9M | $7.4M |
| Cash from operating activities | −$1.2M | −$3.8M | $7.1M | −$1.4M | −$10.5M | $8.3M | $1.4M | $4.7M | $2.2M | $4.6M | −$8.0M | −$3.6M |
| Investing activities | ||||||||||||
| Capital expenditures | −$1.6M | −$1.4M | −$47.2M | −$800,000 | −$18.4M | −$20.5M | −$9.3M | −$15.8M | −$14.6M | −$13.9M | −$23.0M | −$21.0M |
| Investments (net) | — | — | — | — | −$16.0M | −$14.7M | $700,000 | −$8.1M | −$6.7M | −$6.0M | −$15.0M | −$14.1M |
| Acquisitions & other investing | −$5.2M | −$8.4M | $40.6M | −$11.4M | $18.4M | $20.5M | $9.3M | $15.8M | $14.6M | $13.9M | $23.0M | $21.0M |
| Cash from investing activities | −$6.8M | −$9.8M | −$6.6M | −$12.2M | −$16.0M | −$14.7M | $700,000 | −$8.1M | −$6.7M | −$6.0M | −$15.0M | −$14.1M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | — | — | −$400,000 | — | — | — | — | — | — | — | — | — |
| Net borrowing (repayment) | — | — | $0 | — | — | — | — | — | — | — | — | — |
| Shares issued | $0 | $200,000 | $0 | $12.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$100,000 | −$400,000 | −$400,000 | $8.3M | −$700,000 | −$700,000 | $1.3M | −$100,000 | −$900,000 | −$600,000 | $1.1M | −$100,000 |
| Cash from financing activities | −$100,000 | −$200,000 | −$800,000 | $20.8M | −$700,000 | −$700,000 | $1.3M | −$100,000 | −$900,000 | −$600,000 | $1.1M | −$100,000 |
| Summary | ||||||||||||
| Net change in cash | −$8.1M | −$13.8M | −$300,000 | $7.2M | −$27.2M | −$7.1M | $3.4M | −$3.1M | −$5.4M | −$2.0M | −$21.5M | −$17.2M |
| Cash at end of period | $37.2M | $45.3M | $59.1M | $59.4M | $52.2M | $79.4M | $86.5M | $83.1M | $86.6M | $87.2M | $94.0M | $115.9M |
| Free cash flow | −$2.8M | −$5.2M | −$40.1M | −$2.2M | $7.9M | −$12.2M | −$7.9M | −$11.1M | −$12.4M | −$9.3M | −$31.0M | −$24.6M |
| Free cash flow margin | −2.9% | −5.8% | −43.7% | −2.5% | 9.8% | −17.5% | −10.3% | −14.6% | −15.7% | −12.4% | −40.9% | −33.9% |
| Capex / revenue | 1.6% | 1.6% | 51.5% | 0.9% | 22.7% | 29.5% | 12.2% | 20.8% | 18.5% | 18.5% | 30.3% | 29.0% |
| Operating cash flow / net income | — | — | — | −0.02 | — | — | — | — | — | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
RENT cash generation
In fiscal 2026 (ended January 31, 2026), Rent the Runway generated $3.5 million of cash from operations (down 72.9%) and spent $50.1 million on capital expenditures, leaving free cash flow of -$46.6 million, −14.1% of revenue. It returned $0.4 million to shareholders through dividends ($0) and net share buybacks ($0.4 million). Cash and equivalents fell by $27.4 million over the year.
Related: RENT income statement, RENT balance sheet. See the RENT stock overview for the latest quote and news.
RENT cash flow FAQ
What is Rent the Runway's free cash flow?
Rent the Runway's free cash flow was -$46.6 million in fiscal 2026: $3.5 million of operating cash flow minus $50.1 million of capital expenditures It was -$40.7 million a year earlier..
How much cash does Rent the Runway generate from operations?
Rent the Runway generated $3.5 million of cash from operating activities in fiscal 2026, 0.15 times its net income of $22.6 million.
How much does Rent the Runway spend on capital expenditures?
Rent the Runway spent $50.1 million on capital expenditures in fiscal 2026, 15.2% of revenue, compared with $53.6 million the year before.
How much stock does Rent the Runway buy back?
Rent the Runway spent $0.4 million on net share repurchases in fiscal 2026.