Business
WW Announces Second Quarter 2021 Results
Q2 2021 End of Period Subscribers of 4.9 millionQ2 2021 End of Period Digital Subscribers up 6% year-over-year to an all-time Q2-end highQ2 2021 Revenues of
About this update from Ww International, Inc.
[{"type":"text","content":"Q2 2021 End of Period Subscribers of 4.9 millionQ2 2021 End of Period Digital Subscribers up 6% year-over-year to an all-time Q2-end highQ2 2021 Revenues of $311 millionQ2 2021 Gross Margin of 60%; excluding one-time charges, Q2 2021 adjusted gross margin increased 100 basis points year-over-year to 61%FY 2021 Guidance: Revenues approaching $1.3 billion and GAAP EPS in the range of $1.10 to $1.25, which incorporates an approximately $0.53 aggregate negative impact from the early extinguishment of debt and estimated restructuring charges in 2021 NEW YORK, Aug. 10, 2021 (GLOBE NEWSWIRE) -- WW International, Inc. (NASDAQ: WW) today announced its results for the second quarter of fiscal 2021. “We ended the quarter with 4.9 million subscribers, including 4.1 million Digital subscribers -- an all-time second quarter-end high and up 6% year-over-year, but below our expectations. The strong Digital year-over-year growth momentum in Q1 slowed in the second quarter as we cycled against strong Digital performance in 2020,” said Mindy Grossman, the Company’s President and CEO. “We continue to see strong member retention trends, momentum in Digital 360, and expansion of adjusted gross margins. We have a comprehensive plan to optimize performance in the second half of the year and position us well for growth in 2022. We are excited to launch our new food program innovation later this year, making weight loss and wellness even more simple, livable, efficacious and sustainable, which we are confident will drive year-over-year growth in member recruitment.” Amy O’Keefe, the Company’s CFO, said, “Subscriber trends in Q2 followed a more typical seasonal pattern than we expected, and our guidance reflects this trend. Our gross margin performance remains strong and reflective of the ongoing benefits of our flexible, subscription-based digital model. Looking ahead, we have a comprehensive plan to optimize financial performance in the second half of the year and deliver growth and value creation over the long-term.” Q2 2021 Consolidated Results % Change % ChangeAdjusted forConstantCurrency(1) Three Months Ended July 3, 2021 June 27, 2020 (in millions except percentages and per share amounts) Subscription Revenues, net$272.9 $293.0 (6.9%) (10.4%)Product Sales and Other, net 38.5 40.6 (5.2%) (8.9%)Revenues, net$311.4 $333.6 (6.7%) (10.2%)Gross Profit$18...