Slide 1: Q2 2022 Results
Q2 2022 Results August 4, 2022 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, revenue and earnings guidance and any stateme
Slide 3: Who we are
Who we are WeightWatchers is a human-centric technology company powered by the world's leading commercial weight management program 3
Slide 4: Q2 2022 Financial Summary
Q2 2022 Financial Summary Revenue: $269.5 million Down 13.5%, or 10.0% on constant currency basis1, year-over-year Gross Margin: 60.5% 4.3M Adjusted gross margin: 61.9%1 End of Period Adjusted gross margin increased 60 bps year-over-year1 Subscribers Operating Income: $13.4 million Down 12.3% year-o
Slide 5: Historical Subscriber Seasonality
Historical Subscriber Seasonality (in Millions) End of Period Digital Subscribers End of Period Workshops + Digital Subscribers -12% -16% -14% -8% -10% -14% -18% (1) 1 5 Q2 2022 End of Period Workshops + Digital Subscribers includes 127 thousand subscribers who transitioned from the Digital business
Slide 6: Capital Structure
Capital Structure Strong liquidity position Flexible, covenant-lite debt structure Cash Balance of $148.6M $945M outstanding on term loan1 LIBOR (50 bps floor) +350 bps As of July 2, 2022 Due April 2028 Covenant-lite structure; flexibility to prepay term loan April 2021 refinancing reduced annual inter
Slide 7: Appendix
Appendix 7
Slide 8: Non-GAAP Reconciliation
Non-GAAP Reconciliation Q2 2022 Revenues - Constant Currency (in thousands) Q2 2022 Gross Profit, Selling, General and Administrative Expenses, and Operating Income (in thousands) 8