Business
WW International, Inc. Announces Fourth Quarter and Full Year 2022 Results
WeightWatchers announces agreement to acquire Sequence, a digital health platform for clinical weight management Fourth Quarter 2022 End of Period Subscribers
About this update from Ww International, Inc.
[{"type":"text","content":"WeightWatchers announces agreement to acquire Sequence, a digital health platform for clinical weight management\nFourth Quarter 2022 End of Period Subscribers of 3.5 millionRevenues of $223.9 millionOperating Loss of $50.8 million primarily due to $57.6 million in non-cash intangible impairment charges for Franchise Rights Acquired and Goodwill; Adjusted operating income of $24.2 million excluding the impact of such impairment charges and the net impact of restructuring charges Full Year Fiscal 2022 Revenues of $1.04 billionOperating Loss of $283.0 million primarily due to $396.7 million in non-cash intangible impairment charges for Franchise Rights Acquired and Goodwill; Adjusted operating income of $153.5 million excluding the impact of such impairment charges and the net impact of restructuring charges Q1 2023 Guidance Revenues are expected to be approximately $235.0 millionOperating Loss, which includes approximately $20.0 million in restructuring charges, is expected to be in the range of ($30.0) million to ($35.0) million NEW YORK, March 06, 2023 (GLOBE NEWSWIRE) -- WW International, Inc. (NASDAQ: WW) (“WeightWatchers,” “WW,” or the “Company”) today announced its results for the fourth quarter and full year fiscal 2022. “It has been nearly one year since I joined WeightWatchers - a time of significant transition, rationalization, and bold moves throughout the organization. We ended 2022 with 3.5 million subscribers, ahead of our guidance, improving our position as we started the year,” said Sima Sistani, the Company’s CEO. “Our member engagement and satisfaction metrics are up, demonstrating that our initiatives to improve the experience and brand are having a positive impact. We expect performance trends to improve throughout the year as we benefit from our data-informed approach to member acquisition, increased efficiency from streamlined operations, and new product features to enhance the member experience. We look forward to upcoming launches focused on creating community, supporting members, and enabling key behaviors, as well as our entry into clinical weight management.” “Our efforts to streamline and centralize our operations are reading through into an improved cost basis for our business. We are confident that we will have the appropriate cost structure in place, along with ample liquidity, to support our produc...