Rent the Runway's stock soared, recording significant gains following its mixed Q4 results and optimistic outlook for 2024. The company reported a quarterly loss of $7.02 per share, missing the analyst consensus estimate by 7.5%, but its shares still rose more than 36% during the regular session and surged over 200% the following day. This rally was driven by the company's announcement of expected breakeven cash flow and a more capital-light model for FY 2024. Rent the Runway also reported a Q4 adjusted core profit of $11.2 million, up from $7.1 million the previous year, and projected growth between 1%-6% for FY 2024. The stock's performance was further bolstered by an upbeat revenue forecast and its strategic bet on artificial intelligence tools, leading to a record one-day jump and closing up 161.89%.