Business
WW International, Inc. Announces First Quarter 2023 Results
End of Period Subscribers of 4.0 millionRevenues of $241.9 millionOperating Loss of $28.6 million; excluding the net impact of restructuring charges, adjusted
About this update from Ww International, Inc.
[{"type":"text","content":"End of Period Subscribers of 4.0 millionRevenues of $241.9 millionOperating Loss of $28.6 million; excluding the net impact of restructuring charges, adjusted operating loss of $5.9 millionFull Year Fiscal 2023 Guidance: Revenues are expected to be in the range of $910.0 million to $930.0 millionOperating Income is expected to be in the range of $48.0 million to $60.0 million; excluding the anticipated net impact of restructuring charges, adjusted operating income is expected to be in the range of $80.0 million to $85.0 million NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) -- WW International, Inc. (NASDAQ: WW) (“WeightWatchers,” “WW,” or the “Company”) today announced its results for the first quarter of fiscal 2023. “Our progress so far in 2023, including our acquisition of Sequence, further increases my confidence that we will return to a growth trajectory,” said Sima Sistani, the Company’s CEO. “We expect to end 2023 with total subscribers approaching 3.6 million, including 3.5 million WeightWatchers subscribers. The last time the Company ended a year with flat or higher subscribers year-over-year was 2020, so this will be a notable achievement and testament to the work our teams are delivering in enhancing our product experience and acquisition channels.” “I am thrilled that today we announced that Heather Stark has been appointed our Chief Financial Officer. Heather has served in the interim position since December 2022. She has successfully navigated our teams through the annual planning and budgeting process, our organizational and real estate restructuring, and notably, the acquisition of Sequence. Heather is an invaluable partner to me and I look forward to continuing to work with her in the CFO role,” continued Sistani. “The Q1 outperformance in subscribers translated into above forecast revenue, and combined with greater cost discipline, flowed into adjusted operating income results ahead of our expectations,” said Heather Stark, the Company’s CFO. “We expect performance trends to improve through the year as we benefit from our data-informed approach to member acquisition, increased operating efficiency, and an enhanced member experience following upcoming launches in our product roadmap. With a leaner, more agile organization, we are improving our operating model to drive profitable growth.” “I am honored to be taking on ...