2022 Q2 Form 10-Q Financial Statement

#000146832722000073 Filed on June 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q2
Revenue $67.10M $64.10M $33.50M
YoY Change 100.3% 91.34% -43.79%
Cost Of Revenue $22.90M $8.800M
YoY Change 160.23%
Gross Profit $44.20M $24.70M
YoY Change 78.95%
Gross Profit Margin 65.87% 73.73%
Selling, General & Admin $37.90M $37.20M $21.60M
YoY Change 75.46% 96.83% -24.21%
% of Gross Profit 85.75% 87.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.50M $16.60M $21.70M
YoY Change -23.96% -12.63% -33.44%
% of Gross Profit 37.33% 87.85%
Operating Expenses $37.90M $94.00M $21.60M
YoY Change 75.46% 48.5% -77.19%
Operating Profit -$33.20M -$28.30M
YoY Change 17.31%
Interest Expense -$9.300M -$9.300M -$14.50M
YoY Change -35.86% -35.42% 62.92%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $500.0K
YoY Change -100.0% -100.0% -44.44%
Pretax Income -$42.50M -$39.20M -$42.30M
YoY Change 0.47% 1.03% -1.86%
Income Tax $0.00 $100.0K $0.00
% Of Pretax Income
Net Earnings -$42.50M -$39.30M -$42.30M
YoY Change 0.47% 1.29% -1.86%
Net Earnings / Revenue -63.34% -61.31% -126.27%
Basic Earnings Per Share -$0.67 -$3.75
Diluted Earnings Per Share -$0.67 -$623.4K -$3.75
COMMON SHARES
Basic Shares Outstanding 63.43M shares 11.29M shares
Diluted Shares Outstanding 63.43M shares 11.29M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $219.0M $247.6M
YoY Change
Cash & Equivalents $219.0M $247.6M $103.8M
Short-Term Investments
Other Short-Term Assets $15.80M $17.10M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $234.8M $264.7M
YoY Change 156.0%
LONG-TERM ASSETS
Property, Plant & Equipment $54.00M $57.20M
YoY Change -11.59%
Goodwill
YoY Change
Intangibles $6.200M $6.400M
YoY Change -17.95%
Long-Term Investments
YoY Change
Other Assets $4.500M $4.800M
YoY Change 166.67%
Total Long-Term Assets $181.2M $182.8M
YoY Change -15.88%
TOTAL ASSETS
Total Short-Term Assets $234.8M $264.7M
Total Long-Term Assets $181.2M $182.8M
Total Assets $416.0M $447.5M
YoY Change 39.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.40M $15.90M
YoY Change 120.83%
Accrued Expenses $21.40M $26.70M
YoY Change
Deferred Revenue $600.0K $600.0K
YoY Change -14.29%
Short-Term Debt $2.000M $3.500M
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $74.90M $68.80M
YoY Change 69.46%
LONG-TERM LIABILITIES
Long-Term Debt $265.2M $260.8M
YoY Change -26.56%
Other Long-Term Liabilities $400.0K $400.0K
YoY Change 33.33%
Total Long-Term Liabilities $265.6M $261.2M
YoY Change -26.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $74.90M $68.80M
Total Long-Term Liabilities $265.6M $261.2M
Total Liabilities $381.9M $376.4M
YoY Change -18.05%
SHAREHOLDERS EQUITY
Retained Earnings -$843.7M -$801.2M
YoY Change 35.93%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.10M $71.10M -$565.8M
YoY Change
Total Liabilities & Shareholders Equity $416.0M $447.5M
YoY Change 39.54%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q2
OPERATING ACTIVITIES
Net Income -$42.50M -$39.30M -$42.30M
YoY Change 0.47% 1.29% -1.86%
Depreciation, Depletion And Amortization $16.50M $16.60M $21.70M
YoY Change -23.96% -12.63% -33.44%
Cash From Operating Activities -$17.40M -$18.80M -$9.000M
YoY Change 93.33% 111.24%
INVESTING ACTIVITIES
Capital Expenditures -$15.40M -$17.90M
YoY Change 77.23%
Acquisitions
YoY Change
Other Investing Activities $4.600M $4.800M
YoY Change -4.0%
Cash From Investing Activities -$10.80M -$13.10M -$1.300M
YoY Change 730.77% 156.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00 $400.0K
YoY Change -100.0%
Cash From Financing Activities -$1.600M -500.0K $17.90M
YoY Change -108.94% -350.0%
NET CHANGE
Cash From Operating Activities -$17.40M -18.80M -$9.000M
Cash From Investing Activities -$10.80M -13.10M -$1.300M
Cash From Financing Activities -$1.600M -500.0K $17.90M
Net Change In Cash -$29.80M -32.40M $7.600M
YoY Change -492.11% 134.78%
FREE CASH FLOW
Cash From Operating Activities -$17.40M -$18.80M -$9.000M
Capital Expenditures -$15.40M -$17.90M
Free Cash Flow -$2.000M -$900.0K
YoY Change -175.0%

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NetCashProvidedByUsedInOperatingActivities
-17400000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9000000.0 USD
CY2022Q2 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
13400000 USD
CY2021Q2 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
4400000 USD
CY2022Q2 wdq Proceeds From Liquidation Of Rental Product
ProceedsFromLiquidationOfRentalProduct
600000 USD
CY2021Q2 wdq Proceeds From Liquidation Of Rental Product
ProceedsFromLiquidationOfRentalProduct
1600000 USD
CY2022Q2 us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
4000000.0 USD
CY2021Q2 us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
2800000 USD
CY2022Q2 wdq Payments To Acquire Property Plant And Equipment And Intangible Assets
PaymentsToAcquirePropertyPlantAndEquipmentAndIntangibleAssets
2000000.0 USD
CY2021Q2 wdq Payments To Acquire Property Plant And Equipment And Intangible Assets
PaymentsToAcquirePropertyPlantAndEquipmentAndIntangibleAssets
1300000 USD
CY2022Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10800000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1300000 USD
CY2022Q2 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
0 USD
CY2021Q2 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
17100000 USD
CY2022Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2021Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1300000 USD
CY2022Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2021Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
400000 USD
CY2022Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1600000 USD
CY2021Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-100000 USD
CY2022Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1600000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17900000 USD
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-29800000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7600000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
259600000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
109200000 USD
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
229800000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
116800000 USD
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
219000000.0 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
103800000 USD
CY2022Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
5000000.0 USD
CY2021Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
2900000 USD
CY2022Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5800000 USD
CY2021Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
10100000 USD
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
229800000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
116800000 USD
CY2022Q2 wdq Operating Lease Payments Reimbursements
OperatingLeasePaymentsReimbursements
3700000 USD
CY2021Q2 wdq Operating Lease Payments Reimbursements
OperatingLeasePaymentsReimbursements
3600000 USD
CY2022Q2 wdq Receipt Of Fixed Assets Prior Period
ReceiptOfFixedAssetsPriorPeriod
800000 USD
CY2021Q2 wdq Receipt Of Fixed Assets Prior Period
ReceiptOfFixedAssetsPriorPeriod
500000 USD
CY2022Q2 wdq Receipt Of Rental Product Prior Period
ReceiptOfRentalProductPriorPeriod
6500000 USD
CY2021Q2 wdq Receipt Of Rental Product Prior Period
ReceiptOfRentalProductPriorPeriod
3600000 USD
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
100000 USD
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
100000 USD
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
100000 USD
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
200000 USD
CY2022Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1500000 USD
CY2021Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
600000 USD
CY2022Q2 wdq Rental Product Expenditures Incurred But Not Yet Paid
RentalProductExpendituresIncurredButNotYetPaid
12700000 USD
CY2021Q2 wdq Rental Product Expenditures Incurred But Not Yet Paid
RentalProductExpendituresIncurredButNotYetPaid
3500000 USD
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q2 us-gaap Nature Of Operations
NatureOfOperations
Business<div style="margin-top:6pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Description of Business</span></div><div style="margin-top:6pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Rent the Runway, Inc.’s (the “Company”) mission is to power women to feel their best every day. Launched in November 2009, the Company has built the world’s first and largest shared designer closet with over 20,000 styles by over 800 brand partners. The Company gives customers access to its “unlimited closet” through its subscription offering (“Subscription”) or the ability to rent a-la-carte through its reserve offering (“Reserve”). The Company’s corporate headquarters is located in Brooklyn, New York and the operational facilities are located in Secaucus, New Jersey, and Arlington, Texas. Its wholly-owned subsidiary, Rent the Runway Limited (the “Subsidiary”), is located in Galway, Ireland, and is focused on software development and support activities. </span></div><div style="margin-top:12pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All revenue is currently generated in the United States. Substantially all revenue is derived from rental subscription fees and a-la-carte rental fees, with a portion derived from the sale of apparel and accessories and other fees.</span></div>
CY2022Q2 wdq Number Of Styles
NumberOfStyles
20000 style
CY2022Q2 wdq Number Of Brand Partners
NumberOfBrandPartners
800 partner
CY2022Q2 us-gaap Fiscal Period
FiscalPeriod
Fiscal YearThe Company operates on a fiscal calendar ending January 31. All references to fiscal year 2020 reflect the results of the 12-month period ending January 31, 2021. All references to fiscal year 2021 reflect the results of the 12-month period ending January 31, 2022. All references to fiscal year 2022 reflect the results of the 12-month period ending January 31, 2023.
CY2022Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q1 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:18pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The Company bases its estimates on historical experience, market conditions, and on various other assumptions that are believed to be reasonable. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the useful life and salvage value of rental product, incremental borrowing rate (“IBR”) to determine lease liabilities, and the valuation of share-based compensation and warrants.</span></div><div style="margin-top:12pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of April 30, 2022, the effects of the ongoing COVID-19 pandemic on the Company’s business, results of operations, and financial condition continue to evolve. As a result, many of the Company’s estimates and assumptions required increased judgment and carry a higher degree of variability and volatility. As additional information becomes available, the Company’s estimates may change materially in future periods.</span></div>
CY2022Q2 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentrations of Credit Risks</span></div><div style="margin-top:6pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash investments with high credit quality financial institutions. The Company believes no significant credit risk exists with respect to these financial instruments.</span></div><div style="margin-top:12pt;padding-left:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No single customer accounted for more than 5% of the Company’s revenue during the three months ended April 30, 2022 and 2021.</span></div>
CY2022Q2 wdq Assets Held For Sale Rental Product
AssetsHeldForSaleRentalProduct
2800000 USD
CY2022Q1 wdq Assets Held For Sale Rental Product
AssetsHeldForSaleRentalProduct
2100000 USD
CY2022Q2 wdq Accelerated Depreciation Rental Product Held For Sale
AcceleratedDepreciationRentalProductHeldForSale
1400000 USD
CY2021Q2 wdq Accelerated Depreciation Rental Product Held For Sale
AcceleratedDepreciationRentalProductHeldForSale
600000 USD
CY2022Q2 us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
4000000 USD
CY2021Q2 us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
2800000 USD
CY2022Q2 wdq Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
900000 USD
CY2022Q2 wdq Operating Lease Lessor Time For Order Placement
OperatingLeaseLessorTimeForOrderPlacement
P4M
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
219000000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
247600000 USD
CY2022Q2 wdq Number Of Floors Terminated From Lease
NumberOfFloorsTerminatedFromLease
1 floor
CY2022Q2 wdq Lessee Operating Lease Liability To Be Paid Reduction
LesseeOperatingLeaseLiabilityToBePaidReduction
10600000 USD
CY2022Q2 wdq Operating Lease Liabilities Adjustment For Lease Modification
OperatingLeaseLiabilitiesAdjustmentForLeaseModification
3700000 USD
CY2022Q2 wdq Operating Lease Right Of Use Asset Adjustment For Lease Modification
OperatingLeaseRightOfUseAssetAdjustmentForLeaseModification
1400000 USD
CY2022Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
1800000 USD
CY2022Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1900000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9300000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
300000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10600000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
300000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9500000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
200000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8100000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8100000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2022Q2 wdq Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
42700000 USD
CY2022Q2 wdq Finance Lease Liability To Be Paid Due After Year Four
FinanceLeaseLiabilityToBePaidDueAfterYearFour
0 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
88300000 USD
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
800000 USD
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
41800000 USD
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
100000 USD
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
46500000 USD
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
700000 USD
CY2022Q2 wdq Rental Product Gross
RentalProductGross
177600000 USD
CY2022Q1 wdq Rental Product Gross
RentalProductGross
171200000 USD
CY2022Q2 wdq Accumulated Depreciation Depletion And Amortization Rental Product
AccumulatedDepreciationDepletionAndAmortizationRentalProduct
95900000 USD
CY2022Q1 wdq Accumulated Depreciation Depletion And Amortization Rental Product
AccumulatedDepreciationDepletionAndAmortizationRentalProduct
94900000 USD
CY2022Q2 wdq Rental Product Net
RentalProductNet
81700000 USD
CY2022Q1 wdq Rental Product Net
RentalProductNet
76300000 USD
CY2022Q2 wdq Depreciation Expense And Write Off Rental Product And Rental Product Sold
DepreciationExpenseAndWriteOffRentalProductAndRentalProductSold
13600000 USD
CY2021Q2 wdq Depreciation Expense And Write Off Rental Product And Rental Product Sold
DepreciationExpenseAndWriteOffRentalProductAndRentalProductSold
12700000 USD
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 USD
CY2022Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 USD
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
265200000 USD
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
260800000 USD
CY2021Q4 wdq Debt Instrument Covenant Terms Minimum Liquidity Maintenance
DebtInstrumentCovenantTermsMinimumLiquidityMaintenance
50000000.0 USD
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
700000 USD
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
700000 USD
CY2022Q2 wdq Accrued Operating And General Liabilities Current
AccruedOperatingAndGeneralLiabilitiesCurrent
11900000 USD
CY2022Q1 wdq Accrued Operating And General Liabilities Current
AccruedOperatingAndGeneralLiabilitiesCurrent
13600000 USD
CY2022Q2 wdq Revenue Share Payable
RevenueSharePayable
7100000 USD
CY2022Q1 wdq Revenue Share Payable
RevenueSharePayable
6700000 USD
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2400000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4000000.0 USD
CY2022Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
2100000 USD
CY2022Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
1600000 USD
CY2022Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
2000000.0 USD
CY2022Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
3500000 USD
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
600000 USD
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
600000 USD
CY2022Q2 wdq Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
26100000 USD
CY2022Q1 wdq Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
30000000.0 USD
CY2022Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
256200000 USD
CY2021Q2 us-gaap Proceeds From Repurchase Of Redeemable Preferred Stock
ProceedsFromRepurchaseOfRedeemablePreferredStock
17100000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.33
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M1D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2100000 USD
CY2022Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2022Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.86
CY2022Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.41
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.24
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M13D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2700000 USD
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.72
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M29D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2700000 USD
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000 USD
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1900000 USD
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-42500000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-42300000 USD
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63431165 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63431165 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11287251 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11287251 shares
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.67
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.67
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.75
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.75
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15649475 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
44093047 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
44093047 shares
CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD

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