Ww International, Inc. · NASDAQ:WW
Ww International — Q2 2024 Earnings Presentation
15 slides from Ww International's earnings presentation, Aug 1, 2024
Slide 1: Second Quarter 2024 Results
Second Quarter 2024 Results Supplemental Investor Materials August 1, 2024 1
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: Q2 2024 Summary
Q2 2024 Summary $ 3.8 202.1 67.9% million million End of Period Subscribers Revenue Record Gross Margin Clinical growth - 120% YOY growth in Clinical subscribers Cost discipline - demonstrated by record gross margin Company reset - $100 million of annual run-rate cost savings; $20 million in 2H24 3
Slide 4: Historical Subscriber Seasonality
Historical Subscriber Seasonality End of Period Digital Subscribers End of Period Workshops + Digital Subscribers End of Period Clinical Subscribers (in Millions, except as otherwise noted) -12% -16% -22% -6% Note: Former Digital 360 members were transitioned from the Digital business to the Worksho
Slide 5: Capital Structure
Capital Structure Flexible, covenant-lite debt structure $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-lien, secured term loan; flexibility to prepay term loa
Slide 6: Transformation Strategy
Transformation 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: Expanding Care: Intensity of care
Expanding Care The full-spectrum Clinical care with GLP-1s weight health platform Intensity of care Clinical care with Generic medication Populations we serve Healthy weight Overweight Obesity Dietitian support - New Pre-diabetes Diabetes Workshops Hypertension Hyperlipidemia Behavioral program Weig
Slide 10: Expanding Care: Reimagined design
Expanding Care Reimagined design Intuitive and unified user experience Access to all our weight health management tools Driving improved login rates, lifts in tracking, and longer sessions 10
Slide 11: Clinical services for U.S. members
Expanding Care Expanding Payment Options Clinical services for U.S. members Offering insurance-covered Registered Dietitian counseling to eligible members 11
Slide 12: An exceptionally large target market and revenue opportunity for WeightWatchers
Expanding Access An exceptionally large target market and revenue opportunity for WeightWatchers 337M Total US population1 207M 18-64 population1 124M With commercial insurance2 Total US Population Aged 18-64 with commercial insurance 50M With obesity or overweight w/ comorbidity3 Total US Populatio
Slide 13: Weight Watchers leading brand, science-backed evidence and integrated services
Expanding Access Weight Watchers not only has the leading brand, 60 years of science backed evidence, and a full suite of integrated services, but it is proven to provide positive health benefits to employees and positive cost benefits to employers when becoming a fully covered benefit. Weight Loss
Slide 14: Appendix
Appendix
Slide 15: Non-GAAP Reconciliation
Non-GAAP Reconciliation Q2 2024 Gross Profit, Selling, General and Administrative Expenses, and Operating Income (in thousands, except percentages) 15