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WW International Inc.(WW) - 2020 Q1 - Earnings Call Transcript
2020-04-29 02:10
Financial Data and Key Metrics Changes - Q1 revenue was $400 million, up 11% year-over-year on a constant currency basis, with a net loss of $0.09 per share, impacted by a one-time goodwill impairment charge [40][41] - Subscriber count reached 5 million, a 9% increase year-over-year, although below the anticipated mid-teens growth rate [17][43] - Adjusted operating income for Q1 was $29 million, driven by strong subscriber growth and effective cost management [18][40] Business Line Data and Key Metrics Changes - Digital subscribers increased by 16%, while studio subscribers decreased by 5%, reflecting a shift in member engagement towards digital platforms [43] - The company transitioned to virtual workshops, which received a 97% satisfaction rating from members, indicating strong engagement with the new format [22][24] Market Data and Key Metrics Changes - The global launch of the myWW program and the WW Presents: Oprah's 2020 Vision tour generated significant media impressions, enhancing brand visibility [16] - Member recruitment trends were strong until mid-March, after which they turned negative due to COVID-19, impacting both digital and studio signups [42] Company Strategy and Development Direction - The company is focusing on a digital-first strategy, reducing its physical studio footprint while enhancing virtual offerings [24][48] - Plans to launch a new digitally enabled, community-focused coaching vertical later in the year, aimed at improving member recruitment and retention [59] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to the changing environment, emphasizing the importance of community and wellness as essential needs [75][112] - The company is prepared for a range of scenarios regarding economic recovery and consumer behavior, indicating a cautious approach to future planning [114] Other Important Information - A $100 million cost savings initiative is being implemented, with reductions in marketing, G&A, and cost of services to maintain financial flexibility [49][50] - The company has drawn down $148 million on its revolver as a precautionary measure, ending Q1 with a cash position of $292 million [53][54] Q&A Session Summary Question: Insights on digital recruitment trends - Management noted that digital recruitment has turned positive recently, with new members showing a heightened sense of urgency to improve their health [81][82] Question: Clarification on cost savings - The $100 million cost savings plan includes temporary and permanent reductions, with a focus on G&A, marketing, and operating expenses [88][90] Question: Impact of studio closures on retention - Retention rates have remained stable at 10 months, with no significant increase in cancellation rates despite studio closures [122] Question: Trends in subscriber growth - The recent uptick in digital membership is attributed to effective messaging and content adjustments made in response to the crisis [126][127]
WW International Inc.(WW) - 2020 Q1 - Earnings Call Presentation
2020-04-28 23:36
Q1 2020 Results April 28, 2020 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 and prospects and the impact of the COVID-19 virus. The Company generally uses the words "may," "will," "could," ...
WW International Inc.(WW) - 2019 Q4 - Earnings Call Transcript
2020-02-26 03:27
WW International, Inc. (NASDAQ:WW) Q4 2019 Earnings Conference Call February 25, 2020 5:00 PM ET Company Participants Corey Kinger - IR Mindy Grossman - President and CEO Nick Hotchkin - CFO, Operating Officer-North America and President, Emerging Markets Conference Call Participants Olivia Tong - Bank of America Jason English - Goldman Sachs Kara Anderson - B. Riley FBR Brian Nagel - Oppenheimer Alex Fuhrman - Craig-Hallum Capital Group Lauren Cassel - Morgan Stanley Linda Bolton Weiser - DA Davidson RJ Ha ...
WW International Inc.(WW) - 2019 Q4 - Annual Report
2020-02-25 21:36
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-16769 WW INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Virginia 11-6040273 (State or other jurisdiction of incorpor ...
WW International Inc.(WW) - 2018 Q4 - Annual Report
2019-02-26 21:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2018. or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-16769 WEIGHT WATCHERS INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Virginia 11-6040273 (State or other jurisdic ...