Ww International, Inc. · NASDAQ:WW
Ww International — Q4 2023 Earnings Presentation
8 slides from Ww International's earnings presentation, Feb 28, 2024
Slide 1: Fourth Quarter and Full Year 2023 Results
Fourth Quarter and Full Year 2023 Results Supplemental Investor Materials February 28, 2024
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: Full Year 2023 Financial Summary
Full Year 2023 Financial Summary 3.1M Digital Revenue: $889.6 million Down 14.5%, on both reported and constant currency basis, year-over-year(1) Gross Margin: 59.5% Adjusted gross margin 61.9%(1) 3.8M End of Period Subscribers Up 7.1% year-over-year Operating Income: $22.3 million Adjusted operatin
Slide 4: Historical Subscriber Seasonality
Historical Subscriber Seasonality End of Period Digital Subscribers “2023 was a pivotal year as we began transforming our business for the future. We returned End of Period Workshops + Digital Subscribers WeightWatchers to year end subscriber growth – for the first time in 3 years - up 7% year-over-
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 Rate2: 1 month Term SOFR + Credit Spread Adjustment of 11.448 bps (50 bps floor) +350 bps1 Covenant-lite structure; fle
Slide 6: Appendix
Appendix WeightWatchers.
Slide 7: Non-GAAP Reconciliation
Non-GAAP Reconciliation Full Year 2023 Revenues - Constant Currency (in thousands, except percentages) 7
Slide 8: Non-GAAP Reconciliation
Non-GAAP Reconciliation Full Year 2023 Gross Profit, Selling, General and Administrative Expenses, and Operating Income (Loss) (in thousands, except percentages) 8