$RENT
Rent the Runway, Inc.

2022 Q3 Form 10-Q Financial Statement

#000146832722000115 Filed on September 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2021 Q3
Revenue $76.50M $46.70M
YoY Change 63.81% 61.59%
Cost Of Revenue $23.40M $13.50M
YoY Change 73.33%
Gross Profit $53.10M $33.20M
YoY Change 59.94%
Gross Profit Margin 69.41% 71.09%
Selling, General & Admin $38.60M $26.40M
YoY Change 46.21% 34.69%
% of Gross Profit 72.69% 79.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.30M $31.20M
YoY Change -47.76% -25.89%
% of Gross Profit 30.7% 93.98%
Operating Expenses $38.60M $70.20M
YoY Change -45.01% 12.32%
Operating Profit -$25.60M -$23.50M
YoY Change 8.94%
Interest Expense -$9.600M -$14.90M
YoY Change -35.57% 29.57%
% of Operating Profit
Other Income/Expense, Net $1.300M -$4.100M
YoY Change -131.71% -2150.0%
Pretax Income -$33.90M -$42.50M
YoY Change -20.24% -5.35%
Income Tax $0.00 -$100.0K
% Of Pretax Income
Net Earnings -$33.90M -$42.40M
YoY Change -20.05% -5.57%
Net Earnings / Revenue -44.31% -90.79%
Basic Earnings Per Share -$0.53 -$3.75
Diluted Earnings Per Share -$0.53 -$674.4K
COMMON SHARES
Basic Shares Outstanding 64.07M shares 11.30M shares
Diluted Shares Outstanding 64.07M shares 11.30M shares

Balance Sheet

Concept 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $192.3M $104.0M
YoY Change 84.9%
Cash & Equivalents $192.3M $104.0M
Short-Term Investments
Other Short-Term Assets $15.40M $7.000M
YoY Change 120.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $207.7M $111.0M
YoY Change 87.12%
LONG-TERM ASSETS
Property, Plant & Equipment $52.30M $170.5M
YoY Change -69.33%
Goodwill
YoY Change
Intangibles $6.000M
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.900M $14.50M
YoY Change -66.21%
Total Long-Term Assets $174.2M $191.9M
YoY Change -9.22%
TOTAL ASSETS
Total Short-Term Assets $207.7M $111.0M
Total Long-Term Assets $174.2M $191.9M
Total Assets $381.9M $302.9M
YoY Change 26.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.60M $13.40M
YoY Change 31.34%
Accrued Expenses $28.10M $16.30M
YoY Change 72.39%
Deferred Revenue $600.0K
YoY Change
Short-Term Debt $600.0K $0.00
YoY Change
Long-Term Debt Due $0.00 $800.0K
YoY Change -100.0%
Total Short-Term Liabilities $64.30M $48.50M
YoY Change 32.58%
LONG-TERM LIABILITIES
Long-Term Debt $269.8M $381.8M
YoY Change -29.33%
Other Long-Term Liabilities $300.0K $68.50M
YoY Change -99.56%
Total Long-Term Liabilities $270.1M $450.3M
YoY Change -40.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.30M $48.50M
Total Long-Term Liabilities $270.1M $450.3M
Total Liabilities $374.8M $498.8M
YoY Change -24.86%
SHAREHOLDERS EQUITY
Retained Earnings -$877.6M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.100M -$605.2M
YoY Change
Total Liabilities & Shareholders Equity $381.9M $302.9M
YoY Change 26.08%

Cashflow Statement

Concept 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$33.90M -$42.40M
YoY Change -20.05% -5.57%
Depreciation, Depletion And Amortization $16.30M $31.20M
YoY Change -47.76% -25.89%
Cash From Operating Activities -$15.60M -$12.70M
YoY Change 22.83% -51.34%
INVESTING ACTIVITIES
Capital Expenditures -$16.80M -$12.40M
YoY Change 35.48% -122.06%
Acquisitions
YoY Change
Other Investing Activities $6.800M $9.000M
YoY Change -24.44% -15.09%
Cash From Investing Activities -$10.00M -$3.400M
YoY Change 194.12% -92.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.500M 22.40M
YoY Change -106.7% -80.67%
NET CHANGE
Cash From Operating Activities -15.60M -12.70M
Cash From Investing Activities -10.00M -3.400M
Cash From Financing Activities -1.500M 22.40M
Net Change In Cash -27.10M 6.300M
YoY Change -530.16% -85.75%
FREE CASH FLOW
Cash From Operating Activities -$15.60M -$12.70M
Capital Expenditures -$16.80M -$12.40M
Free Cash Flow $1.200M -$300.0K
YoY Change -500.0% -99.64%

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CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-605200000 usd
us-gaap Net Income Loss
NetIncomeLoss
-76400000 usd
us-gaap Net Income Loss
NetIncomeLoss
-84700000 usd
wdq Depreciation Expense And Write Off Rental Product
DepreciationExpenseAndWriteOffRentalProduct
24100000 usd
wdq Depreciation Expense And Write Off Rental Product
DepreciationExpenseAndWriteOffRentalProduct
21300000 usd
wdq Rental Product Write Off
RentalProductWriteOff
3000000.0 usd
wdq Rental Product Write Off
RentalProductWriteOff
2600000 usd
wdq Other Depreciation Amortization And Property Plant And Equipment Write Offs
OtherDepreciationAmortizationAndPropertyPlantAndEquipmentWriteOffs
8700000 usd
wdq Other Depreciation Amortization And Property Plant And Equipment Write Offs
OtherDepreciationAmortizationAndPropertyPlantAndEquipmentWriteOffs
9900000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1900000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
wdq Proceeds From Sale Of Productive Assets Operating Activities
ProceedsFromSaleOfProductiveAssetsOperatingActivities
8800000 usd
wdq Proceeds From Sale Of Productive Assets Operating Activities
ProceedsFromSaleOfProductiveAssetsOperatingActivities
5600000 usd
wdq Gain Loss On Liquidation Of Rental Product
GainLossOnLiquidationOfRentalProduct
200000 usd
wdq Gain Loss On Liquidation Of Rental Product
GainLossOnLiquidationOfRentalProduct
700000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
7000000.0 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
23200000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2000000.0 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
3900000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
12400000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4300000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
0 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
7500000 usd
wdq Increase Decrease In Prepaid Expense And Other Assets Current
IncreaseDecreaseInPrepaidExpenseAndOtherAssetsCurrent
900000 usd
wdq Increase Decrease In Prepaid Expense And Other Assets Current
IncreaseDecreaseInPrepaidExpenseAndOtherAssetsCurrent
-500000 usd
wdq Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-3200000 usd
wdq Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-1700000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
100000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3000000.0 usd
wdq Increase Decrease In Accounts Payable Accrued Liabilities And Other Liabilities Current
IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherLiabilitiesCurrent
-5300000 usd
wdq Increase Decrease In Accounts Payable Accrued Liabilities And Other Liabilities Current
IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherLiabilitiesCurrent
7100000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1300000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
3400000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-6800000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-3500000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
100000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
400000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33000000.0 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12700000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
27600000 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
8500000 usd
wdq Proceeds From Liquidation Of Rental Product
ProceedsFromLiquidationOfRentalProduct
2600000 usd
wdq Proceeds From Liquidation Of Rental Product
ProceedsFromLiquidationOfRentalProduct
3400000 usd
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
8800000 usd
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
5600000 usd
wdq Payments To Acquire Property Plant And Equipment And Intangible Assets
PaymentsToAcquirePropertyPlantAndEquipmentAndIntangibleAssets
4600000 usd
wdq Payments To Acquire Property Plant And Equipment And Intangible Assets
PaymentsToAcquirePropertyPlantAndEquipmentAndIntangibleAssets
3900000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20800000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3400000 usd
us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
0 usd
us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
21200000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1900000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
600000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3100000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-100000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3100000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
22400000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-56900000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6300000 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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
202700000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115500000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
192300000 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
104000000.0 usd
CY2022Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
4600000 usd
CY2021Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
1800000 usd
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5800000 usd
CY2021Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
9700000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
202700000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
115500000 usd
wdq Operating Lease Payments Reimbursements
OperatingLeasePaymentsReimbursements
7300000 usd
wdq Operating Lease Payments Reimbursements
OperatingLeasePaymentsReimbursements
8300000 usd
wdq Receipt Of Fixed Assets Prior Period
ReceiptOfFixedAssetsPriorPeriod
800000 usd
wdq Receipt Of Fixed Assets Prior Period
ReceiptOfFixedAssetsPriorPeriod
500000 usd
wdq Receipt Of Rental Product Prior Period
ReceiptOfRentalProductPriorPeriod
6500000 usd
wdq Receipt Of Rental Product Prior Period
ReceiptOfRentalProductPriorPeriod
3600000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
200000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
200000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
400000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
300000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1500000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
500000 usd
wdq Rental Product Expenditures Incurred But Not Yet Paid
RentalProductExpendituresIncurredButNotYetPaid
8900000 usd
wdq Rental Product Expenditures Incurred But Not Yet Paid
RentalProductExpendituresIncurredButNotYetPaid
1700000 usd
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 approximately </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20,000 styles by over 800 </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, 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>
CY2022Q3 wdq Number Of Styles
NumberOfStyles
20000 style
CY2022Q3 wdq Number Of Brand Partners
NumberOfBrandPartners
800 partner
CY2022Q3 wdq Finance Lease Liability To Be Paid Due After Year Four
FinanceLeaseLiabilityToBePaidDueAfterYearFour
0 usd
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.
CY2022Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q3 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.001
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 July 31, 2022, the effects of the ongoing COVID-19 pandemi</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c and the macroeconomic environment </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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>
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1900000 usd
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>
CY2022Q3 wdq Assets Held For Sale Rental Product
AssetsHeldForSaleRentalProduct
3300000 usd
CY2022Q1 wdq Assets Held For Sale Rental Product
AssetsHeldForSaleRentalProduct
2100000 usd
CY2022Q3 wdq Accelerated Depreciation Rental Product Held For Sale
AcceleratedDepreciationRentalProductHeldForSale
2100000 usd
CY2021Q3 wdq Accelerated Depreciation Rental Product Held For Sale
AcceleratedDepreciationRentalProductHeldForSale
1700000 usd
wdq Accelerated Depreciation Rental Product Held For Sale
AcceleratedDepreciationRentalProductHeldForSale
3400000 usd
wdq Accelerated Depreciation Rental Product Held For Sale
AcceleratedDepreciationRentalProductHeldForSale
2300000 usd
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
8800000 usd
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
5600000 usd
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.75
CY2022Q3 wdq Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
500000 usd
CY2021Q3 wdq Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
600000 usd
wdq Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
1300000 usd
wdq Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
1200000 usd
CY2022Q3 wdq Operating Lease Lessor Time For Order Placement
OperatingLeaseLessorTimeForOrderPlacement
P4M
CY2022Q3 wdq Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
42700000 usd
CY2021Q3 us-gaap Insurance Recoveries
InsuranceRecoveries
4000000.0 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
192300000 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
wdq Operating Lease Liabilities Adjustment For Lease Modification
OperatingLeaseLiabilitiesAdjustmentForLeaseModification
3700000 usd
wdq Operating Lease Right Of Use Asset Adjustment For Lease Modification
OperatingLeaseRightOfUseAssetAdjustmentForLeaseModification
1400000 usd
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
1800000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6000000.0 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
200000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10800000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
300000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9500000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
200000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8100000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8100000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
85200000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
700000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
40000000.0 usd
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
100000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
45200000 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
600000 usd
CY2022Q3 wdq Rental Product Gross
RentalProductGross
170500000 usd
CY2022Q1 wdq Rental Product Gross
RentalProductGross
171200000 usd
CY2022Q3 wdq Accumulated Depreciation Depletion And Amortization Rental Product
AccumulatedDepreciationDepletionAndAmortizationRentalProduct
93600000 usd
CY2022Q1 wdq Accumulated Depreciation Depletion And Amortization Rental Product
AccumulatedDepreciationDepletionAndAmortizationRentalProduct
94900000 usd
CY2022Q3 wdq Rental Product Net
RentalProductNet
76900000 usd
CY2022Q1 wdq Rental Product Net
RentalProductNet
76300000 usd
CY2022Q3 wdq Depreciation Expense And Write Off Rental Product And Rental Product Sold
DepreciationExpenseAndWriteOffRentalProductAndRentalProductSold
13500000 usd
CY2021Q3 wdq Depreciation Expense And Write Off Rental Product And Rental Product Sold
DepreciationExpenseAndWriteOffRentalProductAndRentalProductSold
11200000 usd
wdq Depreciation Expense And Write Off Rental Product And Rental Product Sold
DepreciationExpenseAndWriteOffRentalProductAndRentalProductSold
27100000 usd
wdq Depreciation Expense And Write Off Rental Product And Rental Product Sold
DepreciationExpenseAndWriteOffRentalProductAndRentalProductSold
23900000 usd
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2022Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
269800000 usd
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
260800000 usd
CY2021Q4 wdq Debt Instrument Covenant Terms Minimum Liquidity Maintenance
DebtInstrumentCovenantTermsMinimumLiquidityMaintenance
50000000.0 usd
CY2021Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12200000 usd
CY2022Q3 wdq Revenue Share Payable
RevenueSharePayable
5400000 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
800000 usd
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
700000 usd
CY2022Q3 wdq Accrued Operating And General Liabilities Current
AccruedOperatingAndGeneralLiabilitiesCurrent
10600000 usd
CY2022Q1 wdq Accrued Operating And General Liabilities Current
AccruedOperatingAndGeneralLiabilitiesCurrent
13600000 usd
CY2022Q1 wdq Revenue Share Payable
RevenueSharePayable
6700000 usd
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3600000 usd
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4000000.0 usd
CY2022Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
2500000 usd
CY2022Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
1600000 usd
CY2022Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
600000 usd
CY2022Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
3500000 usd
CY2022Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
600000 usd
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
600000 usd
CY2022Q3 wdq Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
23300000 usd
CY2022Q1 wdq Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
30000000.0 usd
CY2022Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
255000000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000000.0 usd
us-gaap Proceeds From Repurchase Of Redeemable Preferred Stock
ProceedsFromRepurchaseOfRedeemablePreferredStock
21200000 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
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.84
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.02
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M1D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.76
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y7M6D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1000000.0 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6900000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2400000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12400000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4300000 usd
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.75
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-33900000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-42400000 usd
us-gaap Net Income Loss
NetIncomeLoss
-76400000 usd
us-gaap Net Income Loss
NetIncomeLoss
-84700000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64074681 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64074681 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11300395 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11300395 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63758256 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63758256 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11375889 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11375889 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.44
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15624112 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
44549836 shares
CY2022Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 usd

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