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WW International Inc.(WW) - 2024 Q1 - Quarterly Results
2024-05-02 20:05
Subscriber Metrics - End of period subscribers reached 4.0 million, including 91 thousand clinical subscribers[4] - End of period total subscribers slightly decreased by 0.4% to 4,008 from 4,022 year-over-year[31] Financial Performance - Revenues for Q1 2024 were $206.5 million, a decrease of 14.6% compared to the prior year[10] - Total revenues for Q1 2024 were $206,548, down 14.6% from $241,895 in Q1 2023[25] - Subscription revenues were $204.1 million, down 3.3% year-over-year, including $18.8 million from clinical subscriptions[10] - Subscription revenues for Q1 2024 were $204,056, a decrease of 3.7% from $211,032 in Q1 2023[25] - Other revenues decreased by 91.9% to $2.5 million, primarily due to the wind down of the consumer products business[10] - Digital subscription revenues decreased by 7.8% to $137,633 from $149,344 year-over-year[35] Profitability and Losses - Operating loss for Q1 2024 was $269.3 million, primarily due to $258.0 million in non-cash intangible impairment charges[10] - The company reported an operating loss of $269,332 for Q1 2024, compared to an operating loss of $28,583 in Q1 2023[25] - Net loss for Q1 2024 was $347.9 million, compared to a net loss of $118.7 million in the prior year[12] - The net loss for Q1 2024 was $347,902, compared to a net loss of $118,679 in Q1 2023, representing a significant increase in losses[25] - Adjusted EBITDAS for Q1 2024 was $8,803, down from $11,068 in Q1 2023[47] Guidance and Projections - The company maintains revenue guidance for fiscal 2024 in the range of $830.0 million to $860.0 million[16] - Adjusted operating income is expected to be in the range of $100.0 million to $110.0 million, excluding impairment and restructuring charges[16] - The Company provided operating loss guidance for Full Year 2024 in the range of $(163.7) million to $(153.7) million[56] - Adjusted operating income is projected to be between $100.0 million and $110.0 million for Full Year 2024[56] Impairment Charges - The company recognized impairment charges of $257,988 related to franchise rights acquired in Q1 2024[25] - The Company reported impairment charges of $2,383 million and $1,203 million related to its Republic of Ireland and Northern Ireland reporting units, respectively[52] - Impairment charges for franchise rights acquired totaled $251,431 million, $4,074 million, $2,328 million, and $155 million for the United States, Australia, New Zealand, and United Kingdom units, respectively[52] - The impairment charges related to franchise rights acquired in the first quarter of fiscal 2024 are reflected in the overall impairment totals[57] Cash and Assets - Cash and cash equivalents decreased to $66,615 at the end of Q1 2024 from $109,366 at the end of Q4 2023, a decline of 39%[29] - Total assets decreased to $654,248 as of March 30, 2024, down from $982,030 as of December 30, 2023[23] - Total liabilities increased to $1,766,547 as of March 30, 2024, compared to $1,743,124 as of December 30, 2023[23] - Total debt as of Q1 2024 was $1,427,509, with net debt of $1,360,894 after accounting for cash[51] Operational Changes - The company is focused on expanding its community offerings and enhancing its existing services to meet evolving consumer preferences[20] - The Company is undergoing a restructuring plan disclosed for 2023, with associated charges impacting financial results[53] - Non-recurring transaction costs were incurred in connection with the Company's acquisition of Sequence[54] Paid Weeks - Total paid weeks increased by 1.7% year-over-year, driven by the digital business and clinical paid weeks[10] - Total paid weeks increased by 1.7% to 51,799 in Q1 2024 from 50,952 in Q1 2023[31] Share Metrics - The weighted average common shares outstanding for Q1 2024 were 79,208, an increase from 70,596 in Q1 2023[25]
WW International Inc.(WW) - 2023 Q4 - Earnings Call Transcript
2024-02-29 04:58
WW International, Inc. (NASDAQ:WW) Q4 2023 Earnings Conference Call February 28, 2024 5:00 PM ET Company Participants Corey Kinger - Investor Relations Sima Sistani - Chief Executive Officer Heather Stark - Chief Financial Officer Conference Call Participants Nathan Feather - Morgan Stanley Jack Wallace - Guggenheim Michael Lasser - UBS Alex Fuhrman - Craig-Hallum Capital Group Stephanie Davis - Barclays Operator Hello and welcome to the WW International's Fourth Quarter and Full Year 2023 Earnings Conferen ...
WW International Inc.(WW) - 2023 Q4 - Annual Report
2024-02-28 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 30, 2023 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) (State or other jurisdiction of incorporation or organizatio ...
WW International Inc.(WW) - 2023 Q4 - Annual Results
2024-02-28 21:06
Exhibit 99.1 For more information, contact: Investors: Corey Kinger corey.kinger@ww.com Media: Kelsey Merkel kelsey.merkel@ww.com WW International, Inc. Announces Fourth Quarter and Full Year 2023 Results Fourth Quarter 2023 Full Year Fiscal 2023 Company Provides Full Year Fiscal 2024 Guidance NEW YORK (February 28, 2024) – WW International, Inc. (NASDAQ: WW) ("WeightWatchers," "WW," or the "Company") today announced its results for the fourth quarter and full year fiscal 2023. "2023 was a pivotal year as w ...
WW International Inc.(WW) - 2023 Q3 - Earnings Call Transcript
2023-11-03 00:26
WW International, Inc. (NASDAQ:WW) Q3 2023 Earnings Conference Call November 2, 2023 5:30 PM ET Company Participants Corey Kinger - Investor Relations Sima Sistani - Chief Executive Officer Heather Stark - Chief Financial Officer Conference Call Participants Jason English - Goldman Sachs Nathan Feather - Morgan Stanley Linda Bolton Weiser - D.A. Davidson Alex Fuhrman - Craig-Hallum Capital Group Henry Carr - UBS Operator Good day, and welcome to the WW International, Inc. Third Quarter 2023 Earnings Confere ...
WW International Inc.(WW) - 2023 Q3 - Quarterly Report
2023-11-02 21:11
OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 For the transition period from to | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, no par value | WW | The Nas ...
WW International Inc.(WW) - 2023 Q2 - Earnings Call Presentation
2023-08-10 13:24
(WeightWatchers 1 Investor presentation Sequence experience August 2023 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, any guidance and any statements about the Company's plans, strategies, objectives, initiatives, roadmap and prospects. The Company generally uses the words "may," "will," "could," "expe ...
WW International Inc.(WW) - 2023 Q2 - Earnings Call Transcript
2023-08-04 03:50
WW International, Inc. (NASDAQ:WW) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Corey Kinger - IR Sima Sistani - CEO Heather Stark - CFO Conference Call Participants Jason English - Goldman Sachs Nathan Feather - Morgan Stanley Linda Bolton-Weiser - D.A. Davidson Isabel Thompson - UBS Operator Good afternoon and welcome to the WW International Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note thi ...
WW International Inc.(WW) - 2023 Q1 - Earnings Call Transcript
2023-05-05 03:44
WW International, Inc. (NASDAQ:WW) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Corey Kinger - Investor Relations Sima Sistani - Chief Executive Officer Heather Stark - Chief Financial Officer Conference Call Participants Jason English - Goldman Sachs Linda Bolton-Weiser - D.A. Davidson Henry Carr - UBS Nathan Feather - Morgan Stanley Alex Fuhrman - Craig-Hallum Operator Good day, and welcome to the WW International Incorporated First Quarter 2023 Earnings Conference Call. Al ...
WW International Inc.(WW) - 2022 Q4 - Earnings Call Transcript
2023-03-07 01:10
WW International, Inc. (NASDAQ:WW) Q4 2022 Results Conference Call March 6, 2023 5:00 PM ET Company Participants Corey Kinger - Investor Relations Sima Sistani - Chief Executive Officer Heather Stark - Interim Principal Financial Officer Conference Call Participants Alex Fuhrman - Craig-Hallum Capital Group Brian Nagel - Oppenheimer Linda Bolton-Weiser - D.A. Davidson Michael Lasser - UBS Jason English - Goldman Sachs Operator Good afternoon, and welcome to the WW International Fourth Quarter and Full Year ...