WW International Inc.(WW) - 2024 Q4 - Annual Results

Financial Performance - Q4 2024 revenues were $184.4 million, down 10.5% year-over-year, with Subscription Revenues at$ 181.7 million, a decline of 7.3%[5] - Full Year Fiscal 2024 revenues totaled $785.9 million, down 11.6% from the previous year, with Subscription Revenues at$ 777.0 million, a decrease of 5.6%[12] - Total revenues for the twelve months ended December 28, 2024, were $785,921, down 11.7% from$ 889,551 in 2023[34] - Total revenues for the full year 2024 were $785,921, a decrease of 11.6% compared to$ 889,551 in 2023[52] - Other revenues for the full year 2024 plummeted by 86.6% to $8,928 from$ 66,796 in 2023[52] Subscriber Metrics - Total End of Period Subscribers reached 3.3 million, a decrease of 12.2% compared to the prior year, with Clinical Subscribers increasing by 37.8% to 92 thousand[7] - Total End of Period Subscribers decreased to 3,336 as of December 28, 2024, down 12.2% from 3,798 in the same period of 2023[40] - Total Paid Weeks in Q4 2024 decreased by 9.9% year-over-year, with growth in Clinical Paid Weeks of 53.3% partially offsetting declines in other segments[7] - Total Paid Weeks in fiscal 2024 decreased by 5.1%, although Clinical Paid Weeks increased by 164.1%[18] - Digital Paid Weeks for the three months ended December 28, 2024, were 37,595, down 8.3% from 41,010 in the same period of 2023[40] Profitability and Margins - Gross Margin improved to 69.7%, up 906 basis points from the prior year, while Adjusted Gross Margin was 69.1%, an increase of 771 basis points[5] - Operating Income for Q4 2024 was $36.2 million, with an Operating Income Margin of 19.6%, up 2,256 basis points year-over-year[5] - Adjusted Operating Income for the full year was$ 104.8 million, reflecting a 17.2% increase compared to the previous year[12] - Gross Margin in fiscal 2024 improved to 67.8%, up from 59.5% in the prior year, driven by cost-saving initiatives[18] - Adjusted Operating Income in fiscal 2024 was $104.8 million, compared to$ 89.5 million in the prior year, indicating effective cost management[18] Net Income and Loss - The company reported a Net Loss of $345.7 million for the full year, including$ 293.2 million of non-cash impairment charges[12] - Net Income in Q4 2024 was $25.1 million compared to a Net Loss of$ 88.1 million in the prior year period, reflecting a strong turnaround[13] - Diluted Net Loss Per Share in fiscal 2024 was $4.34, compared to a loss of$ 1.46 in the prior year, highlighting ongoing challenges[18] - Net loss for the twelve months ended December 28, 2024, was $345,701, compared to a net loss of$ 112,255 in 2023, reflecting a significant increase in losses[34] - The net loss for 2024 is $345,701, with an adjusted net loss of$ 32,995, representing a 208.0% increase in losses compared to 2023[60] Cost Management and Restructuring - The company aims to achieve $100 million in run-rate cost savings by the end of 2025, focusing on disciplined cost management[6] - The company has incurred restructuring charges of$ 21,893 associated with the 2023 restructuring plan, impacting overall financial performance[58] - The company incurred $2,231 in restructuring charges related to the 2024 plan during Q4 2024[63] - The company is focusing on restructuring efforts to improve operational efficiency and reduce costs in the upcoming fiscal year[58] Cash and Liquidity - Cash and cash equivalents balance as of December 28, 2024, was$ 53.0 million, providing liquidity for future operations[16] - Cash and cash equivalents at the end of the period were $56,520, a decrease from$ 109,366 at the beginning of the period, reflecting a net decrease of $52,846[38] Future Outlook - The Company is not providing full year fiscal 2025 guidance at this time, indicating uncertainty in future performance[17] - Future outlook indicates a commitment to market expansion and potential new product development to drive revenue growth[58]