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. (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 ...

Financial Data and Key Metrics Changes - The company ended 2022 with 3.5 million subscribers, exceeding forecasts by approximately 100,000 due to better-than-expected sign-ups and cancellations [12][45] - Full year revenue for 2022 was $1.04 billion, down 14% year-over-year, or down 11% on a constant currency basis [46] - Adjusted gross margin for the full year was 60.5%, a decline of approximately 70 basis points from the prior year [46] - Adjusted operating income was $153 million for 2022, down $63 million compared to the previous year [48] - GAAP net loss per share was $3.58, impacted by noncash impairment charges and restructuring costs [50] Business Line Data and Key Metrics Changes - Marketing expenses for 2022 were $245 million, down 6% year-over-year, reflecting lower spend on TV advertising and other efficiencies [47] - Adjusted G&A expenses were $231 million, down $33 million or 12% versus the prior year due to restructuring actions [47] - The company plans to reduce active SKUs in North America to less than 50 by the end of 2023, down from 358 a year ago [56] Market Data and Key Metrics Changes - The company is entering the clinical weight management space through the acquisition of Weekend Health, which has a $25 million annual revenue run rate [42][43] - The acquisition is expected to close in Q2 2023 and is anticipated to be accretive to earnings per share by Q4 2023 [44] Company Strategy and Development Direction - The company aims to integrate clinical interventions with its existing weight management programs, focusing on a holistic approach to obesity treatment [22][31] - The strategic decision to shift marketing spend from Q1 to the fall is intended to align with product launches and improve overall efficiency [15][88] - The company is committed to maintaining its core weight management program while expanding into clinical solutions for those who qualify [40][93] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth in the second half of 2023, driven by improved member engagement and satisfaction metrics [17][70] - The company is focused on enhancing member experience through new features and community engagement initiatives [72][75] - Management acknowledged the evolving landscape of weight loss and the increasing acceptance of clinical interventions [21][96] Other Important Information - The company recorded noncash impairment charges totaling $396.7 million in 2022, primarily due to market factors [49] - The restructuring plan for 2023 is expected to incur charges between $39 million to $46 million, aimed at streamlining operations and reducing fixed costs [58][59] Q&A Session Summary Question: How will the company market the clinical approach to its members? - Management emphasized the importance of leading the conversation responsibly and noted that the decision to use medications will be between the clinician and the patient [78] Question: Can the company clarify expectations for growth in the second half of the year? - Management indicated that they expect to see growth in sign-ups and engagement metrics, independent of the acquisition's impact [81] Question: What is the expected impact of the marketing shift on subscriber growth? - Management acknowledged that the shift in marketing spend has affected early subscriber growth but expects improved efficiency and results in the second half of the year [85][88] Question: Is the acquisition of Sequence a one-off or part of a broader strategy? - Management clarified that this acquisition represents a paradigm shift in the industry and is part of a strategy to provide a full-stack solution for weight management [92] Question: What differentiates the current weight loss medications from past options? - Management highlighted advancements in prescription medications and the importance of integrating these with behavioral programs for better outcomes [96] Question: How is the company managing its leverage situation? - Management confirmed that they have sufficient liquidity to meet operational needs and service debt, with favorable debt conditions [110]

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 31, 2022 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. (NASDAQ:WW) Q3 2022 Earnings Conference Call November 3, 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 Jason English - Goldman Sachs Alex Fuhrman - Craig-Hallum Capital Group Operator Good afternoon, and welcome to the WW International Third Quarter 2022 Conference Call. All participants will be in listen-only mode. [Operator ...

Q3 2022 Results November 3, 2022 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," ...

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 ...