Ww International, Inc. · NASDAQ:WW
Ww International — Q1 2024 Earnings Presentation
15 slides from Ww International's earnings presentation, May 2, 2024
Slide 1: First Quarter 2024 Results
First Quarter 2024 Results Supplemental Investor Materials NOTE: The accompanying materials update the materials previously issued by the Company on May 2, 2024, in order to correct the presentation of the Company’s Clinical End of Period Subscribers for the first quarter ended March 30, 2024. No ot
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, any guidance and any statements about the Com
Slide 3: Q1 2024 Summary
Q1 2024 Summary 4.0 206.5 $ 66.7% million million Adjusted Gross Margin: 67.9%(1) End of Period Subscribers Revenue Record Gross Margin Drove strong growth in Clinical with Q1 End of Period Clinical Subscribers of 87K, ahead of guidance of 85K Improved retention and digital engagement Cost disciplin
Slide 4: Historical Subscriber Seasonality
Historical Subscriber Seasonality End of Period Digital Subscribers “We delivered solid performance in the first quarter with end of period subscribers of 4.0 million, improved retention and engagement in our core business, and continued strong growth in our End of Period Workshops + Digital Subscri
Slide 5: Capital Structure
Capital Structure Flexible, covenant-lite debt structure 69% Fixed Rate Debt / 31% Variable Rate Debt Exposure1* $945M Outstanding on Term Loan1 - Due April 2028 Variable Interest Rate: 1 month Term SOFR + Credit Spread Adjustment of 11.448 bps (50 bps floor) +350 bps1 Covenant-lite structure; first
Slide 6: Growth Strategy
Growth Strategy
Slide 7: Purpose Mission Strategy
Purpose Mission Strategy Empower people to live Build a worldwide community Provide specialized weight healthier, longer. connected by healthy habits. care and community that grows in intensity based on personalized need. 7
Slide 8: Expanded Care, Expanded Access, Expanded Payment Options
Expanded Care From behavior change to full spectrum care through Weight Health Membership Strategy Expanded Access Grow the B2B2C channel Expanded Payment Options Enable insurance billable services and more payment options 8
Slide 9: 2024 Product Enhancements
2024 Product Enhancements
Slide 10: Automating food decisions
Behavioral Care Automating food decisions Removing friction in the food decision loop with AI generated meal plans, and groceries delivered to your door 10
Slide 11: Clinical services for U.S. members
Building the Care Spectrum Clinical services for U.S. members Support all members by offering insurance-covered Dietitian visits 11
Slide 12: WW Together
Behavioral & Community Care WW Together Providing engaging ways to bring your community into the journey 12
Slide 13: Building habits with gamified leveling
Behavioral Care Building habits with gamified leveling A guided journey with a focus on connecting outcomes to behaviors 13
Slide 14: Appendix
Appendix
Slide 15: Non-GAAP Reconciliation
Non-GAAP Reconciliation Q1 2024 Gross Profit, Selling, General and Administrative Expenses, and Operating Loss (in thousands, except percentages) 15