Business
WW Announces First Quarter 2022 Results
Q1 2022 End of Period Subscribers of 4.5 millionQ1 2022 Revenues of $298 millionQ1 2022 Gross Margin of 60.5%Q1 2022 Operating Income of $9.0 million2022
About this update from Ww International, Inc.
[{"type":"text","content":"Q1 2022 End of Period Subscribers of 4.5 millionQ1 2022 Revenues of $298 millionQ1 2022 Gross Margin of 60.5%Q1 2022 Operating Income of $9.0 million2022 Restructuring Plan expected to result in nearly $30 million of annual run-rate cost savings FY 2022 Guidance: Revenues in the range of $1.09 billion to $1.14 billion and GAAP EPS in the range of $0.72 to $0.78 per fully diluted share, incorporating the negative impact of approximately $0.20 to $0.24 per fully diluted share of estimated restructuring charges NEW YORK, May 05, 2022 (GLOBE NEWSWIRE) -- WW International, Inc. (NASDAQ: WW) (“WeightWatchers,” “WW,” or “the Company”) today announced its results for the first quarter of fiscal 2022. “WeightWatchers has long been recognized as the leader in weight loss, positioned at the intersection of science and community. I am excited to bring my expertise in building digital communities to WW and to take our product to the next level,” said Sima Sistani, the Company’s CEO. “By narrowing our focus, I am confident we will be able to return the Company to profitable growth.” Amy O’Keefe, the Company’s CFO, said, “We delivered EPS ahead of our guidance range for Q1, primarily due to lower marketing spend in our international markets, strong gross margin, and cost management. We have taken significant and decisive action to reset the cost structure, while shifting the organization’s focus to executing on a narrowed set of priorities. 2022 will serve as the foundation for future growth and operating margin expansion.” Q1 2022 Consolidated Results % Change Three Months Ended Adjusted for April 2, April 3, Constant 2022 2021 % Change Currency(1)(in millions except percentages and per share amounts) Subscription Revenues, net$257.0 $279.8 (8.2%) (6.2%)Product Sales and Other, net 40.8 52.0 (21.5%) (20.0%)Revenues, net$297.8 $331.8 (10.3%) (8.4%)Gross Profit$180.1 $193.4 (6.9%) (4.6%)Adjustments(1) 2021 Plan Restructuring Charges 0.0 5.2 2020 Plan Restructuring Charges (0.1) -- Adjusted Gross Profit(1)$180.0 $198.6 (9.4%) (7.1%)Operating Income$9.0 $2.8 216.8% 275.9%Adjustments(1) 2021 Plan Restructuring Charges 0.3 5.5 2020 Plan Restructuring Charges (0.1) -- Adjusted Operating Income(1)$9.1 $8.4 9.0% 29.0%Net Loss($8.2) ($18.2) (54.8%) (61.3%)EPS($0.12) ($0.26) (55.4%) (61.8%)Total Paid Weeks 58.9 63.1 (6.6%) N/ADigital(2) Paid Weeks 49.2 ...