Q2 2022 Results August 4, 2022 1 Forward-looking Statements This presentation includes "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, revenue and earnings guidance and any statements about the Company's plans, strategies, objectives, initiatives, roadmap and prospects and the impact of the COVID-19 virus. The Company generally uses the words "may," "will," ...

WW International, Inc. (NASDAQ:WW) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Corey Kinger – Investor Relations Sima Sistani – Chief Executive Officer Amy O'Keefe – Chief Financial Officer Conference Call Participants Spencer Hanus – Wolfe Research Alex Fuhrman – Craig-Hallum Capital Group Linda Bolton-Weiser – D.A. Davidson Nathan Feather – Morgan Stanley Sean Dunlop – Morningstar Michael Lasser – UBS Operator Good day, and welcome to the WW International Second Quarter ...

Q1 2022 Results May 5, 2022 1 2 Forward-looking Statements This presentation includes "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, revenue and earnings guidance and any statements about the Company's plans, strategies, objectives, initiatives, roadmap and prospects and the impact of the COVID-19 virus. The Company generally uses the words "may," "will," ...

WW International, Inc. (NASDAQ:WW) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants Corey Kinger - Investor Relations Sima Sistani - Chief Executive Officer and Director Amy O'Keefe - Chief Financial Officer Conference Call Participants Hanna Spencer - Wolfe Research Lauren Schenk - Morgan Stanley Alex Fuhrman - Craig Hallum Capital Stephanie Wissink - Jefferies Operator Good afternoon and welcome to the WW International First Quarter 2022 Earnings Conference Call. All participan ...

WW International, Inc. (NASDAQ:WW) Q4 2021 Earnings Conference Call March 1, 2022 3:30 PM ET Company Participants Corey Kinger - Investor Relations Mindy Grossman - President & Chief Executive Officer Nick Hotchkin - Chief Operating Officer Amy O'Keefe - Chief Financial Officer Conference Call Participants Spencer Hanus - Wolfe Research Lauren Schenk - Morgan Stanley Stephanie Wissink - Jefferies Linda Bolton Weiser - D.A. Davidson Doug Lane - Lane Research Disclaimer*: This transcript is designed to be use ...

Full Year 2021 Results March 1, 2022 Wellness that Works. 1 2 Forward-looking Statements This presentation includes "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, revenue and earnings guidance and any statements about the Company's plans, strategies, objectives, and prospects and the impact of the COVID-19 virus. The Company generally uses the words "may," ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2021 was $293 million, down 9% year-over-year, with digital revenue up 3% but unable to offset a 20% decline in workshop revenue [42][40] - Adjusted gross margin was 62%, an increase of approximately 270 basis points from the prior year, primarily due to a favorable digital revenue mix [43][40] - Adjusted operating income was $88 million, reflecting lower than expected G&A expenses and a deliberate shift of marketing investments into Q4 [44][40] Business Line Data and Key Metrics Changes - Total subscribers at the end of Q3 were 4.5 million, down 4% year-over-year, with digital subscribers at 3.7 million, down 3%, and workshop subscribers down 11% year-over-year [42][14] - Workshop gross margin improved to 33% in Q3, with a goal to return to over 40% gross margin [31][29] - E-commerce sales were below plan due to lower digital member signups and ongoing global supply chain pressures [33][34] Market Data and Key Metrics Changes - The majority of international markets have only recently begun reopening in-person workshops due to easing COVID restrictions, impacting subscriber growth [30][29] - Digital retention remains strong at nearly 11 months, while workshop retention is improving sequentially, with overall member retention at approximately 10.5 months [32][32] Company Strategy and Development Direction - The company is launching a new Food Program globally on November 8, 2021, which is expected to drive significant member recruitment during the winter season [18][54] - The new program features individualized plans and updates to the proprietary point system, aiming to enhance member engagement and satisfaction [21][26] - The company is focusing on optimizing its marketing spend and leveraging existing members for word-of-mouth promotion leading into the winter season [76][78] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that 2021 has been a challenging year due to shifting consumer behaviors and wellness fatigue, but expressed confidence in the upcoming Food Program innovation to drive growth in 2022 [17][60] - The company expects to end 2021 with a year-over-year decline in subscribers, translating into a revenue headwind of approximately $25 million entering 2022 [51][45] - Management emphasized the importance of the upcoming winter marketing campaign and the potential for increased interest in WW as consumers recommit to their health and wellness [54][60] Other Important Information - The company is pursuing opportunities to rebuild its licensing business and expand its brand into new product categories [36][35] - Capital expenditures are anticipated to be in the $40 million range for 2021, with continued investments in technology and digital product resources [49][48] Q&A Session Summary Question: What caused the shortfall in digital revenue? - Management noted that the reopening of the economy has not progressed as quickly as hoped, leading to a decline in digital weight loss program performance [65][66] Question: Are there signs of reversing wellness fatigue among consumers? - Management indicated that while there is significant competition, they are focused on maximizing marketing spend and leveraging existing members to build momentum [74][76] Question: What specific challenges does the company face in the last quarter? - Management highlighted that while there are industry-wide pressures, the rebranding from Weight Watchers to WW has been positively received and is seen as an opportunity [97][98] Question: How is the company preparing for leadership change? - Management emphasized the strength of the existing team and the importance of a smooth transition, ensuring that the upcoming program launch remains a priority [79][80] Question: What impact did Apple’s IDFA changes have on marketing? - Management acknowledged that the changes have influenced their marketing strategies, but they are confident in their comprehensive winter plans [90][91]

Q2 2021 Results August 10, 2021 Wellness that Works. 1 2 Forward-looking Statements This presentation includes "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, revenue and earnings guidance and any statements about the Company's plans, strategies, objectives and prospects and the impact of the COVID-19 virus. The Company generally uses the words "may," "will ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2021 was $311 million, down 10% year-over-year on a constant currency basis, with workshop subscription revenue declining nearly $50 million or 43% in constant currency [40][41] - Digital subscription revenue increased 11% year-over-year on a constant currency basis, now representing 75% of total subscription revenues [41] - Adjusted gross margin was 61%, up approximately 100 basis points from the prior year due to a shift towards a larger digital subscriber base [41][42] Business Line Data and Key Metrics Changes - The company ended Q2 with 4.9 million total subscribers, down 2% year-over-year, with digital subscribers at 4.1 million, up 6% year-over-year [14][41] - End of Period Workshop subscribers were 748,000 in Q2, showing slight improvement from Q1, but still down year-over-year [16][41] - Digital 360 ended the quarter with approximately 230,000 subscribers, up from approximately 150,000 at the end of Q1 [15] Market Data and Key Metrics Changes - The company noted that consumer behavior and motivation for weight loss did not spike as anticipated, following a more typical seasonal pattern [24][41] - Workshop trends have been positive in the U.S., while recovery is slower in countries with ongoing restrictions [26] Company Strategy and Development Direction - The company is focused on four key priorities for 2021: enhancing member engagement, expanding Digital 360, preparing for the 2022 Food Program Innovation, and expanding into healthcare and diabetes [56][58] - A comprehensive plan is in place to optimize performance in the second half of the year, with a focus on executing key marketing initiatives [58][68] - The upcoming 2022 Food Program Innovation aims to provide a more personalized experience for members, particularly targeting those with diabetes [62][66] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a shift in consumer sentiment towards enjoying social reconnection rather than focusing on weight loss, impacting Q2 results [10][12] - The company plans to be conservative in its full-year guidance, expecting full-year revenue to approach $1.3 billion [43][44] - Management remains optimistic about the potential for growth in 2022, particularly with the launch of the new Food Program Innovation [90][92] Other Important Information - The company closed 64 U.S. studios in Q2, resulting in a $5 million restructuring charge, continuing a trend of reducing its physical footprint [28][42] - The company expects e-commerce sales to return to growth in Q3, despite challenges in global supply chains affecting product availability [34] Q&A Session Summary Question: Overall level of fatigue with wellness - Management noted that consumer sentiment shifted towards enjoyment rather than immediate weight loss, impacting expectations for Q2 [76][78] Question: Guidance for the year and effectiveness of fall marketing campaign - Management indicated a more conservative approach to guidance, with expectations for the fall campaign to drive interest in the program [81][83] Question: Regional differences in consumer behavior - Management observed positive trends in U.S. workshops, while international markets were slower to recover due to restrictions [87] Question: Return of consumers and frequency of engagement - Management reported a trend of studio members returning for community and coaching, with expectations for a strong influx of lapsed members during Food Program Innovation years [95] Question: Impact of higher marketing rates on recruitment - Management acknowledged some pressures in marketing efficacy but emphasized a diversified approach to marketing spend [100] Question: Health Solutions business update - Management expressed optimism about long-term growth opportunities in healthcare and diabetes, particularly with tailored food plans for diabetes [102] Question: Addressable market and competition - Management reiterated that DIY weight loss remains the biggest competition, while also acknowledging macro pressures affecting immediate weight loss desires [105][106]

Q1 2021 Results May 5, 2021 Wellness that Works. 1 2 Forward-looking Statements This presentation includes "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, revenue and earnings guidance and any statements about the Company's plans, strategies, objectives and prospects and the impact of the COVID-19 virus. The Company generally uses the words "may," "will," " ...