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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5. Leases - Lessee Accounting
- Leases - Lessee Accounting
During the year ended January 31, 2025, the Company entered into a sublease agreement for the ninth floor of its corporate headquarters in Brooklyn, NY for the remainder of the lease term through November 2032. The sublease commenced in December 2024 and does not relieve the Company of its primary lease obligations. The Company recorded immaterial additional assets for the sublease and the net amount received from the sublease is recorded in general and administrative expenses on the Condensed Consolidated Statements of Operations.
The following table summarizes the Company’s minimum fixed lease obligations under existing agreements as a lessee, excluding variable payments and short-term lease payments, as of July 31, 2025:
| Operating · Financing | ||
|---|---|---|
| Fiscal year: | ||
| 2025 | $5.8 | $0.1 |
| 2026 | 11.5 | 0.1 |
| 2027 | 11.2 | 0.1 |
| 2028 | 11.3 | 0.1 |
| 2029 | 10.0 | 0.1 |
| Thereafter | 18.8 | 0.2 |
| Total minimum lease payments | 68.6 | 0.7 |
| Imputed interest | (25.1) | (0.3) |
| Lease liabilities as of July 31, 2025 | $43.5 | $0.4 |
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