Rent the Runway, Inc.
For the period ended Jul 31, 2025. Filed Sep 12, 2025.
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Jul 31, 2025 · Filed Sep 12, 2025
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10. Fair Value Measurements
RENT THE RUNWAY, INC.Notes to Condensed Consolidated Financial Statements
- Fair Value Measurements
As of July 31, 2025 and January 31, 2025, the carrying amounts of the Company’s cash and cash equivalents, current and noncurrent restricted cash, prepaid expenses and other current assets, accounts payable and accrued expenses and other current liabilities approximated their estimated fair value due to their relatively short maturities.
The Company’s long-term debt is reported at carrying value on the Company’s Condensed Consolidated Balance Sheets. Refer to Note 7 — Long-Term Debt. The Company estimates the fair value of its long-term debt using a discounted cash flow approach based on the Company’s implied credit spread using the higher end of the distribution for option adjusted spreads for similar financial instruments with similar credit ratings, and, as such, long-term debt is classified as Level 3 within the fair value hierarchy. As of July 31, 2025, the estimated fair value of the Company’s long-term debt was $236.0 million. Subsequent to July 31, 2025, the Company entered into the Exchange Agreement which is expected to affect the terms and amount of its outstanding debt. Refer to Note 15 - Subsequent Events for additional information.
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