By Davit Kirakosyan

You can rent the Runway Inc (NASDAQ:) shares rose more than 10% after-hours following the company’s reported Q1 results, with revenue growing 100% year-over-year to $67.1 million. Quarterly earnings per share were ($0.67), as opposed to Q1/21’s ($3.75).

The number of active subscribers increased by 82% to 134 998. As a result, total subscribers increased 70% to 177,213.

“I’m excited to share that we exceeded our Q1 guidance across all key metrics both on the top and bottom lines, growing revenue 100% YoY and gross margin by 9 points YoY. Our strong performance is evidence of our firm position in the broader experience economy, which has enabled us to make significant progress on our path to profitability and achieve record ending Active Subscribers in the first quarter of 2022,” said Jennifer Hyman, CEO and Co-Founder of Rent the Runway.

According to the consensus, Q2/22 revenues will be in the $72-74 millions range.

The firm expects to see full 2022 revenue of between $295 and305 million, which is higher than the consensus figure of $303.9million.