Business
WW Announces Third Quarter 2021 Results
Q3 2021 End of Period Subscribers of 4.5 millionQ3 2021 Revenues of $293 millionQ3 2021 Gross Margin of 61%; excluding one-time charges, Q3 2021 adjusted
About this update from Ww International, Inc.
[{"type":"text","content":"Q3 2021 End of Period Subscribers of 4.5 millionQ3 2021 Revenues of $293 millionQ3 2021 Gross Margin of 61%; excluding one-time charges, Q3 2021 adjusted gross margin increased 270 basis points year-over-year to 62%Q3 2021 Operating Income of $80 million; excluding one-time charges, Q3 2021 adjusted operating income was $88 millionNew food program innovation to launch globally on November 8th NEW YORK, Nov. 04, 2021 (GLOBE NEWSWIRE) -- WW International, Inc. (NASDAQ: WW) today announced its results for the third quarter of fiscal 2021. “In the coming days, we will launch the most advanced, innovative food program in WW’s history. We are confident that our powerful program will create excitement amongst new and existing members alike, driving significant member recruitment and accelerating operating and financial performance in 2022,” said Mindy Grossman, the Company’s President and CEO. “We believe the combination of this new program -- amplified in a robust marketing campaign featuring Oprah Winfrey, James Corden, and our inspiring member ambassadors -- and the traditional New Year’s reset moment will spark increased interest in WW as consumers recommit to their health and wellness during the important winter season.” Amy O’Keefe, the Company’s CFO, said, “By effectively managing costs in an uncertain environment, we were able to expand our adjusted operating income margin year-over-year, despite revenue coming in below our expectations. In an environment that was difficult to predict, member recruitment slowed more than we had anticipated during the quarter. With the launch of our innovative new food program and our plans for the upcoming winter season, we believe we have the right playbook to drive profitable growth in 2022.” Q3 2021 Consolidated Results % Change % ChangeAdjusted forConstantCurrency(1) Three Months Ended October 2, September 26, 2021 2020 (in millions except percentages and per share amounts) Subscription Revenues, net$262.4 $282.3 (7.1%) (7.9%)Product Sales and Other, net 31.1 38.4 (19.0%) (19.8%)Revenues, net$293.5 $320.7 (8.5%) (9.3%)Gross Profit$178.0 $190.1 (6.3%) (7.3%)Adjustments 2021 Plan Restructuring Charges 5.6 -- 2020 Plan Restructuring Charges(0.7)(5) 1.1 Adjusted Gross Profit(1)$183.0 $191.2 (4.3%) (5.2%)Operating Income$79.7 $92.6 (13.9%) (15.1%)Adjustments 2021 Plan Restructuring Charges 9.3 -...