Earnings release
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News Details View All News Weight Watchers Announces Third Quarter 2026 Results November 5, 2026 Revenue of $153 million; Clinical Subscription Revenue of $38 million, up 48% year-over-year 2.3 million Total End of Period Subscribers; 40% year-over-year Clinical End of Period Subscriber growth to 174 thousand and 16% year-over-year Core+ End of Period Subscriber growth to 546thousand Positive Net Income of $15.1 million, representing a 9.9% Net Income Margin; Adjusted EBITDA1 of $51.7 million, representing a 33.8% Adjusted EBITDA Margin1 NEW YORK, Nov. 05, 2026 (GLOBE NEWSWIRE) -- WW International, Inc. (Nasdaq: WW) (“Weight Watchers” or the “Company”), the global leader in science-backed weight management, todayannounced its results for the third quarter of fiscal 2026 ended September 30, 20262 in this Earnings Press Release and a Shareholder Letter issued today and posted on the Companyʼs CorporateWebsite. “Since joining Weight Watchers on October 1, I made it my priority to listen to our members, coaches, clinicians, registered dietitians, and colleagues. Through these conversations, two core truthsemerged: weight loss is personal, and the support people need changes along the way,” said Stephen Bye, President and Chief Executive Officer. “Our strength lies in the commitment of our teamand our ability to bring together science-backed behavioral programs, clinical care, and the human connection that has defined this brand for more than 60 years. My focus is on strengthening ourmember experience, improving our products and applications, and building on the work already underway.” “We remained focused on strengthening our two higher-value product offerings and proactively calibrating our spend across our portfolio,” said Felicia DellaFortuna, Chief Financial Officer. “Thatapproach helped drive sustained progress in these offerings with four quarters of quarter-over-quarter growth in Core+ subscribers, and the largest year-over-year Clinical Subscription Revenuegrowth percentage in any quarter of 2026 to date. That top-line progress, combined with our continued disciplined investment, directly translated to $51.7 million of Adjusted EBITDA1,representing a 33.8% Adjusted EBITDA Margin1.” Q3 Business Updates Q3 Revenue was $152.9 million, down 11% year-over-year. Clinical Subscription Revenue grew 48% year-over-year to $38.0 million and represented 25% of total Revenue, up from 15% in Q32025.Q3 Total End of Period Subscribers were 2.3 million. Core+ End of Period Subscribers reached 546 thousand, up 16% year-over-year, marking a fourth consecutive quarter of sequentialsubscriber growth in our higher-value Behavioral membership tier. Clinical End of Period Subscribers were 174 thousand, up 40% year-over-year.Monthly Subscription Revenue Per Average Subscriber was $21.17, up 14% year-over-year, reflecting the growing share of our Clinical business and continued growth in Core+ Subscribers.Q3 Gross Margin was 71.1% and Adjusted Gross Margin1 was 74.6%, both the highest of the first three quarters of 2026, compared with 72.1% and 75.1%, respectively, in Q3 2025.Net Income for Q3 was $15.1 million, compared to a Net Loss of $57.5 million in Q3 2025. Q3 Adjusted EBITDA1 increased 21% year-over-year to $51.7 million from $42.8 million in Q3 2025,reflecting continued expense discipline and lower marketing relative to Q3 2025, which included investment to support a product launch.Cash and Cash Equivalents were $126.4 million at quarter end, up from $101.5 million at the end of Q2 2026. Fiscal 2026 Guidance The Company narrowed its previously provided full year fiscal 2026 guidance. Revenue guidance of $625 million to $630 million, compared to the prior range of $620 million to $635 million.Adjusted EBITDA1 guidance of $110 million to $115 million, compared to the prior range of $105 million to $115 million. Third Quarter 2026 Conference Call and Webcast The Company has scheduled a conference call today at 8:30 a.m. ET to discuss results. The webcast of the conference call will be available on the Companyʼs corporate website,corporate.ww.com, under Events and Presentations. A replay of the webcast will be available on this site for at least 90 days. 1Statement regarding Non-GAAP Financial Measures To supplement the Companyʼs consolidated results presented in accordance with accounting principles generally accepted in the United States (“GAAP”), the Company has disclosed non-GAAPfinancial measures of operating results that exclude or adjust certain items. The Company presents in this release non-GAAP financial measures, including earnings before interest, taxes,depreciation and amortization expenses and share-based compensation expense (“EBITDA”); and for each period presented, EBITDA adjusted, as applicable, for (a) goodwill and other indefinite-lived intangible asset impairments, (b) reorganization items, net related to the Companyʼs emergence from its Chapter 11 financial reorganization, (c) gain on extinguishment of debt, (d) transactioncosts related to strategic alternatives and the Companyʼs Chapter 11 financial reorganization, (e) net restructuring charges associated with the previously disclosed 2025, 2024, and 2023restructuring plans, (f) expenses in connection with the management of certain executive matters and (g) other items such as the impact of foreign exchange gains and losses as indicated in thereconciliations below that management believes are not indicative of ongoing operations (“Adjusted EBITDA”). The Company also presents gross profit, gross margin, marketing expenses, selling,general and administrative expenses, and product development expenses on a non-GAAP basis that adjusts for similar items, as further indicated in the reconciliations below. As exchange rates are an important factor in understanding period-to-period comparisons, the Company believes in certain cases the presentation of results on a constant currency basis inaddition to reported results helps improve investorsʼ ability to understand the Companyʼs operating results and evaluate the Companyʼs performance in comparison to prior periods. Constantcurrency information compares results between periods as if exchange rates had remained constant period-over-period. The Company uses results on a constant currency basis as one measure toevaluate the Companyʼs performance. In this press release, the Company calculates constant currency by calculating current-year results using prior-year foreign currency exchange rates. TheCompany generally refers to such amounts calculated on a constant currency basis as excluding or adjusting for the impact of foreign currency or being on a constant currency basis. These resultsshould be considered in addition to, not as a substitute for, results reported in accordance with GAAP and are not meant to be considered in isolation. Results on a constant currency basis, as theCompany presents them, may not be comparable to similarly titled measures used by other companies and are not measures of performance presented in accordance with GAAP. Management believes these non-GAAP financial measures provide useful supplemental information to investors regarding the performance of the Companyʼs business and are useful for period-over-period comparisons of the performance of the Companyʼs business. While the Company believes that these non-GAAP financial measures are useful in evaluating the Companyʼs business,this information should be considered as supplemental in nature and is not meant to be considered in isolation or as a substitute for the related financial information prepared in accordance withGAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies. See “Reconciliation of Non-GAAP Financial Measures” in thisrelease and reconciliations, if any, included elsewhere in this release for a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures. A reconciliation of the forward-looking full year Adjusted EBITDA outlook to net income cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecastingthe occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of the Companyʼs control, or cannot be reasonablypredicted. For the same reasons, the Company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future GAAP financial results. 2Fresh Start Accounting and Predecessor and Successor Periods In connection with the Companyʼs emergence from its financial reorganization process on June 24, 2025, the Company applied fresh start accounting which resulted in Successor and Predecessorfinancial statement presentation. References to “Successor” relate to the Companyʼs operations for the three and nine months ended September 30, 2026 and the period from June 25, 2025through September 30, 2025. References to “Predecessor” relate to the Companyʼs operations for the period December 29, 2024 through June 24, 2025. Accordingly, the consolidated financialstatements after June 24, 2025 are not comparable with the consolidated financial statements as of or prior to that date. Definitions “Behavioral” business refers to providing subscriptions to the Companyʼs digital product offerings with the option to upgrade to unlimited access to the Companyʼs workshops and certain tailoredversions of its behavior change program. “Clinical” business refers to providing subscriptions to the Companyʼs clinical product offerings provided by Weight Watchers Clinic and third parties combined with the Companyʼs digitalsubscription product offerings and unlimited access to the Companyʼs workshops and certain tailored versions of its behavior change program. “Revenue” - “Subscription Revenue” consists of the aggregate of: (a) “Behavioral Subscription Revenue”, the fees associated with subscriptions for the Companyʼs Behavioral offerings; and (b)“Clinical Subscription Revenue”, the fees associated with subscriptions for the Companyʼs Clinical offerings. In addition, “Other Revenue” consists of revenue from licensing, franchise fees withrespect to commitment plans and royalties, publishing and other revenue. “Revenue” consists of the aggregate of Subscription Revenue and Other Revenue.
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“Incoming Subscribers” - “Subscribers” refer to Behavioral subscribers and Clinical subscribers who participate in recurring bill programs in Company-owned operations. The “IncomingSubscribers” metric reports Subscribers in Company-owned operations at a given period start. Recruitment and retention are key drivers for this metric. Management utilizes this metric to monitorchanges in the subscriber base which directly impacts the Companyʼs revenue growth and trends. “End of Period Subscribers” - The “End of Period Subscribers” metric reports Subscribers in Company-owned operations at a given period end. Recruitment and retention are key drivers for thismetric. Management utilizes this metric to monitor changes in the subscriber base which directly impacts the Companyʼs revenue growth and trends. “Monthly Subscription Revenue Per Average Subscriber” (“ARPU”) - The “Monthly Subscription Revenue Per Average Subscriber” metric reports the monthly fees associated withsubscriptions for the Companyʼs offerings divided by the Average Subscriber for its businesses. Monthly Subscription Revenue for both quarterly and year-to-date periods for each respectivebusiness is calculated as Subscription Revenue divided by the number of months in the respective quarterly or year-to-date period. The “Average Subscriber” for quarterly periods for eachrespective business is the average of its Incoming Subscribers and End of Period Subscribers for the respective quarterly period. The “Average Subscriber” for year-to-date periods for eachrespective business is the average of its Incoming Subscribers at the beginning of the fiscal year and its End of Period Subscribers for each quarter end within the respective year-to-date period.Management utilizes this metric to consider revenue growth and trends on a per subscriber basis. About Weight Watchers Weight Watchers is the global leader in science-backed weight management, offering an integrated support system built for the GLP-1 era that combines scientific expertise, medication, cutting-edge technology, and human connection. With more than 60 years of experience, Weight Watchers is the most studied commercial weight management program in the world, delivered through itsNo. 1 U.S. doctor-recommended weight-loss program. Its holistic, personalized approach also includes U.S.-based clinical interventions and access to GLP-1 medications when clinicallyappropriate, and a global network of coaches and community support. Since 1963, the company has led with science to deliver its members the personalized support they need to reach andsustain their goals. Members can access these solutions directly, or through Weight Watchers for Businessʼ full-spectrum platform for employers, health plans, and payers. In a landscape crowdedwith contradictory advice, isolating apps, and one-size-fits-all solutions, Weight Watchers offers a proven path forward that is rooted in research, grounded in empathy and designed to help everymember feel better in their body and live a longer, healthier life. For more information, visit weightwatchers.com. This press release 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, asamended, including, in particular, any statements about the Companyʼs plans, strategies, objectives, initiatives, and prospects. The Company generally uses the words “may,” “will,” “could,”“expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend,” “aim” and similar expressions in this press release to identify forward-looking statements. The Company bases these forward-lookingstatements on its current views with respect to future events and financial performance. Actual results could differ materially from those projected in the forward-looking statements. Theseforward-looking statements are subject to risks, uncertainties and assumptions, including, among other things: the Company's recent emergence from bankruptcy, which could adversely affect itsbusiness and relationships and subjects us to risks and uncertainties; competition from other weight management and health and wellness industry participants or the development of moreeffective or more favorably perceived weight management methods; the Company's failure to continue to retain and grow its subscriber base; the Company's ability to be a leader in the rapidlyevolving and increasingly competitive clinical weight management and weight loss market; the Company's ability to continue to develop new, innovative services and products and enhance itsexisting services and products or the failure of its services, products or brands to continue to appeal to the market, or its ability to successfully expand into new channels of distribution or respondto consumer trends or sentiment; the Company's ability to successfully implement strategic initiatives; the effectiveness and efficiency of its advertising and marketing programs across multipleplatforms, including digital marketing and social media platforms; the impact on the Company's reputation of actions taken by its franchisees, licensees, suppliers, affiliated provider entities, PCsʼhealthcare professionals, and other partners; the recognition of asset impairment charges; the loss of key personnel, strategic partners or consultants or failure to effectively manage and motivatethe Company's workforce; the Companyʼs chief executive officer transition; the Company's ability to successfully make acquisitions or enter into collaborations or joint ventures, including its abilityto successfully integrate, operate or realize the anticipated benefits of such businesses; uncertainties related to a downturn in general economic conditions or consumer confidence, including as aresult of the existing inflationary environment, changes in tariffs and escalating trade tensions, rising interest rates, the potential impact of political and social unrest and increased volatility in thecredit and capital markets; the seasonal nature of the Company's business; the Company's failure to maintain effective internal control over financial reporting; the impact of events that impedeaccessing resources or discourage or impede people from gathering with others; the early termination by us of leases; the inability to renew certain of the Company's licenses, or the inability to doso on terms that are favorable to us; the dependence of the Company's payments system on third-party service providers; the impact of the Company's exposure to variable rate indebtedness; theability to generate sufficient cash to service the Company's debt and satisfy its other liquidity requirements; uncertainties regarding the satisfactory operation of the Company's technology orsystems; the impact of data security breaches and other malicious acts or privacy concerns, including the costs of compliance with evolving privacy laws and regulations; the Company's ability tosuccessfully integrate and use artificial intelligence in its business; the Company's ability to enforce its intellectual property rights both domestically and internationally, as well as the impact of itsinvolvement in any claims related to intellectual property rights; the impact of existing and future laws and regulations; risks related to the Company's exposure to extensive and complexhealthcare laws and regulations; the outcomes of litigation or regulatory actions; risks and uncertainties associated with the Company's international operations, including regulatory, economic,political, social, intellectual property, and foreign currency risks, which risks may be exacerbated as a result of war and terrorism; the Company's ability to engage in share repurchases and paycash dividends in the foreseeable future; risks related to the actions of activist shareholders and anti-takeover provisions in the Company's articles of incorporation and bylaws; risks related to theactions of the Company's shareholders and the exclusive forum provisions in its articles of incorporation; the possibility that the Company could fail to maintain the listing of the Company'scommon stock on Nasdaq; and other risks and uncertainties, including those included in this press release and those detailed from time to time in the Companyʼs periodic reports filed with theSecurities and Exchange Commission (the “SEC”) (which are available on the SECʼs EDGAR database at www.sec.gov and via the Companyʼs website at corporate.ww.com). You should not putundue reliance on any forward-looking statements. You should understand that many important factors, including those discussed herein, could cause the Companyʼs results to differ materiallyfrom those expressed or suggested in any forward-looking statement. Except as required by law, the Company does not undertake any obligation to update or revise these forward-lookingstatements to reflect new information or events or circumstances that occur after the date of this press release or to reflect the occurrence of unanticipated events or otherwise. Readers areadvised to review the Companyʼs filings with the SEC (which are available on the SECʼs EDGAR database at www.sec.gov and via the Companyʼs website at corporate.ww.com). For investor inquiries, please contact: Anna Kate HellerWeightWatchers@icrinc.com For media inquiries, please contact: Melissa Garbayomelissa.garbayo@ww.com
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WW INTERNATIONAL, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS (IN THOUSANDS)UNAUDITED SuccessorSeptember 30, December 31,2026 2025ASSETSCURRENT ASSETSCash and cash equivalents $ 126,442 $ 160,279Restricted cash 5,796 6,298Receivables (net of allowances: September 30, 2026 - $2,132 and December 31, 2025 - $1,651) 11,977 16,378Prepaid income taxes 3,728 8,097Prepaid marketing and advertising 2,050 9,275Prepaid expenses and other current assets 11,489 13,277TOTAL CURRENT ASSETS 161,482 213,604 Property and equipment, net 6,316 8,115Operating lease assets 1,803 2,933Goodwill 199,858 200,135Other intangible assets, net 446,794 490,664Deferred income taxes 16,209 16,482Other noncurrent assets 14,871 14,825TOTAL ASSETS $ 847,333 $ 946,758LIABILITIES AND EQUITYCURRENT LIABILITIESPortion of operating lease liabilities due within one year $ 918 $ 1,260Accounts payable 19,644 9,212Salaries and wages payable 20,100 34,375Accrued marketing and advertising 8,055 22,985Accrued interest 892 1,084Other accrued liabilities 18,911 23,049Income taxes payable 1,644 6,006 Deferred revenue 21,943 28,565TOTAL CURRENT LIABILITIES 92,107 126,536Long-term debt, net 423,970 465,466Long-term operating lease liabilities 1,159 1,893Deferred income taxes 36,253 34,021Other noncurrent liabilities 576 771TOTAL LIABILITIES 554,065 628,687EQUITYSuccessor common stock, $0 par value; 1,000,000 shares authorized; 9,999 shares issued at September 30, 2026 and 9,992 shares issued at December 31, 2025 380,136 378,777 Accumulated deficit (84,913) (62,095)Accumulated other comprehensive (loss) income (1,955) 1,389TOTAL EQUITY 293,268 318,071TOTAL LIABILITIES AND TOTAL EQUITY $ 847,333 $ 946,758
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WW INTERNATIONAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)UNAUDITED SuccessorThree Months Ended Three Months EndedSeptember 30, 2026 September 30, 2025 Subscription revenue, net(1) $ 151,960 $ 170,929 Other revenue, net(2) 941 1,162 Revenue, net 152,901 172,091 Cost of subscription revenue(3) 44,144 47,908 Cost of other revenue 65 72Cost of revenue 44,209 47,980Gross profit 108,692 124,111Marketing expenses 33,094 48,404Product development expenses 5,235 7,550Selling, general and administrative expenses 33,849 60,122Operating income 36,514 8,035Interest expense 10,861 12,052Other (income) expense, net (147) 342Income (loss) before income taxes 25,800 (4,359)Provision for income taxes 10,692 53,157Net income (loss) $ 15,108 $ (57,516) Earnings (net loss) per shareBasic $ 1.51 $ (5.76)Diluted $ 1.51 $ (5.76) Weighted average common shares outstandingBasic 9,999 9,987Diluted 10,021 9,987 Note: Totals may not sum due to rounding. (1) “Subscription revenue, net” consists of the aggregate of: (a) net “Behavioral Subscription Revenue”, the fees associated with subscriptions for the Companyʼs Behavioral offerings; and (b) net “Clinical Subscription Revenue”, thefees associated with subscriptions for the Companyʼs Clinical offerings. (2) “Other revenue, net” consists of revenue from licensing, franchise fees with respect to commitment plans and royalties, publishing and other revenue. (3) “Cost of subscription revenue” consists of cost of revenue and operating expenses for the Company's Behavioral and Clinical services. WW INTERNATIONAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)UNAUDITED Successor Predecessor Period from Period fromNine Months EndedSeptember 30, 2026 June 25, 2025 December 29, 2024through September 30, 2025 through June 24, 2025 Subscription revenue, net(1) $ 480,710 $ 183,007 $ 360,953 Other revenue, net(2) 2,777 1,251 2,615 Revenue, net 483,487 184,258 363,568 Cost of subscription revenue(3) 141,603 51,166 100,026 Cost of other revenue 377 72 158Cost of revenue 141,980 51,238 100,184Gross profit 341,507 133,020 263,384Marketing expenses 173,903 51,188 110,871 Product development expenses 19,768 8,236 25,281Selling, general and administrative expenses 132,286 62,975 78,480Franchise rights acquired impairments — — 27,549Operating income 15,550 10,621 21,203Reorganization items, net — — (1,143,918)Interest expense 33,925 12,975 38,664Gain on extinguishment of debt (4,612) — —Other (income) expense, net (1,305) 1,274 6,685(Loss) income before income taxes (12,458) (3,628) 1,119,772Provision for income taxes 10,360 52,634 1,669Net (loss) income $ (22,818) $ (56,262) $ 1,118,103 (Net loss) earnings per shareBasic $ (2.28) $ (5.63) $ 13.93Diluted $ (2.28) $ (5.63) $ 13.80 Weighted average common shares outstandingBasic 9,998 9,987 80,271Diluted 9,998 9,987 80,998 Note: Totals may not sum due to rounding. (1)“Subscription revenue, net” consists of the aggregate of: (a) net “Behavioral Subscription Revenue”, the fees associated with subscriptions for the Companyʼs Behavioral offerings; and (b) net “Clinical Subscription Revenue”, thefees associated with subscriptions for the Companyʼs Clinical offerings. (2)“Other revenue, net” consists of revenue from licensing, franchise fees with respect to commitment plans and royalties, publishing and other revenue. (3)“Cost of subscription revenue” consists of cost of revenue and operating expenses for the Company's Behavioral and Clinical services.
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WW INTERNATIONAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS (IN THOUSANDS)UNAUDITED Successor PredecessorPeriod from Period fromNine Months EndedSeptember 30, 2026 June 25, 2025 December 29, 2024through September 30, 2025 through June 24, 2025Operating activities:Net (loss) income $ (22,818) $ (56,262) $ 1,118,103Adjustments to reconcile net (loss) income to cash provided by (used for) operating activities:Depreciation and amortization 64,851 27,174 14,201Amortization of deferred financing costs and debt (premium) discount, net (76) (26) 1,766Impairment of franchise rights acquired — — 27,549Impairment of long-lived assets 3 — 97Share-based compensation expense 1,324 — 4,032 Deferred tax provision 1,970 1,064 26,232Allowance for doubtful accounts 48 (513) (1,131)Foreign currency exchange rate (gain) loss (1,206) 1,298 6,717Non-cash reorganization items, net — — (1,176,532)Gain on extinguishment of debt (4,612) — —Changes in cash due to:Receivables 4,169 (2,245) 4,280Prepaid expenses 13,537 39,934 (31,281)Accounts payable 10,466 1,454 (8,237)Accrued liabilities (33,680) (14,623) 15,084Deferred revenue (6,397) (2,220) (2,914)Other long term assets and liabilities, net (191) (11) (2,234)Income taxes (4,349) 13,394 (30,155)Cash provided by (used for) operating activities 23,039 8,418 (34,423)Investing activities:Capital expenditures — (6) (87) Capitalized software and website development expenditures (18,899) (3,678) (6,253)Cash paid for acquisitions, net of cash acquired — (1,020) —Other items, net — (3) (1)Cash used for investing activities (18,899) (4,707) (6,341)Financing activities:Borrowings on revolving credit facility — — 171,341Financing costs — — (1,298)Payments on long-term debt (36,808) — —Taxes paid related to net share settlement of equity awards — — (145)Cash paid for acquisitions — — (16,000)Cash (used for) provided by financing activities (36,808) — 153,898Effect of exchange rate changes on cash and cash equivalents and restricted cash (1,671) 235 3,966Net (decrease) increase in cash and cash equivalents and restricted cash (34,339) 3,946 117,100Cash and cash equivalents and restricted cash, beginning of period 166,577 173,620 56,520Cash and cash equivalents and restricted cash, end of period $ 132,238 $ 177,566 $ 173,620 WW INTERNATIONAL, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(IN THOUSANDS, EXCEPT PERCENTAGES)UNAUDITED VarianceSuccessor 2026Three Months Ended Three Months Ended 2026 Constant CurrencySeptember 30, 2026 September 30, 2025 vs vsGAAP Constant Currency GAAP 2025 2025 Selected Financial Data Revenue(1) $ 152,901$ 153,270$ 172,091 (11.2%) (10.9%) Behavioral Subscription Revenue(2) $ 113,923$ 114,286$ 145,152 (21.5%) (21.3%) Clinical Subscription Revenue(3) $ 38,037$ 38,037$ 25,777 47.6% 47.6% Subscription Revenue(4) $ 151,960$ 152,323$ 170,929 (11.1%) (10.9%) Other Revenue(5) $ 941$ 947$ 1,162 (19.0%) (18.5%) Note: Totals may not sum due to rounding. (1) “Revenue” consists of the aggregate of Subscription Revenue and Other Revenue. (2) “Behavioral Subscription Revenue” consists of the fees associated with subscriptions for the Companyʼs Behavioral offerings. (3) “Clinical Subscription Revenue” consists of the fees associated with subscriptions for the Companyʼs Clinical offerings.(4) “Subscription Revenue” is the sum of Behavioral Subscription Revenue and Clinical Subscription Revenue. (5) “Other Revenue” consists of revenue from licensing, franchise fees with respect to commitment plans and royalties, publishing and other revenue.
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WW INTERNATIONAL, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES (IN THOUSANDS, EXCEPT PERCENTAGES)UNAUDITED Variance2026Successor 2026 Constant CurrencyNine Months Ended Nine Months Ended vs vsSeptember 30, 2026 September 30, 2025 2025 2025GAAP Constant Currency Combined(1) Combined Combined Selected Financial Data Revenue(2) $ 483,487$ 478,801$ 547,826 (11.7%) (12.6%) Behavioral Subscription Revenue(3) $ 363,933$ 359,291$ 458,133 (20.6%) (21.6%) Clinical Subscription Revenue(4) $ 116,777$ 116,778$ 85,827 36.1% 36.1% Subscription Revenue(5) $ 480,710$ 476,070$ 543,960 (11.6%) (12.5%) Other Revenue(6) $ 2,777$ 2,732$ 3,866 (28.2%) (29.3%) Note: Totals may not sum due to rounding. (1) These amounts combine the revenue of the Successor and Predecessor periods for comparability purposes. Although the Successor and Predecessor have a different accounting basis due to the application of fresh startaccounting, none of the fresh start accounting adjustments impact revenue. Therefore, the combined revenue amounts presented are consistent with a pro forma presentation under Article 11 of Regulation S-X as if fresh startaccounting was applied at the beginning of the first period presented. (2) “Revenue” consists of the aggregate of Subscription Revenue and Other Revenue. (3) “Behavioral Subscription Revenue” consists of the fees associated with subscriptions for the Companyʼs Behavioral offerings.(4) “Clinical Subscription Revenue” consists of the fees associated with subscriptions for the Companyʼs Clinical offerings. (5) “Subscription Revenue” is the sum of Behavioral Subscription Revenue and Clinical Subscription Revenue. (6) “Other Revenue” consists of revenue from licensing, franchise fees with respect to commitment plans and royalties, publishing and other revenue. WW INTERNATIONAL, INC. AND SUBSIDIARIESOPERATIONAL STATISTICS(IN THOUSANDS, EXCEPT PERCENTAGES AND MONTHLY SUBSCRIPTION REVENUE PER AVERAGE SUBSCRIBER)UNAUDITED SuccessorThree Months Ended Three Months EndedSeptember 30, 2026 September 30, 2025 Variance Variance(Constant Currency) (Constant Currency) Incoming Subscribers(1) Incoming Behavioral Subscribers 2,291 N/A 3,040 (24.6%) N/A Incoming Clinical Subscribers 197 N/A 127 55.7% N/AIncoming Subscribers 2,489 N/A 3,167 (21.4%) N/A End of Period Subscribers(2) End of Period Behavioral Subscribers 2,122 N/A 2,862 (25.9%) N/A End of Period Clinical Subscribers 174 N/A 124 40.4% N/AEnd of Period Subscribers 2,296 N/A 2,986 (23.1%) N/A Monthly Subscription Revenue Per AverageSubscriber(3) Monthly Behavioral Subscription Revenue PerAverage Subscriber $ 17.21$ 17.26$ 16.39 5.0% 5.3% Monthly Clinical Subscription Revenue Per AverageSubscriber $ 68.25$ 68.25$ 68.52 (0.4%) (0.4%)Monthly Subscription Revenue Per AverageSubscriber $ 21.17$ 21.22$ 18.52 14.3% 14.6% Note: Totals may not sum due to rounding. (1) The “Incoming Subscribers” metric reports WW subscribers in Company-owned operations at a given period start.(2) The “End of Period Subscribers” metric reports WW subscribers in Company-owned operations at a given period end. (3) The “Monthly Subscription Revenue Per Average Subscriber” metric reports the monthly fees associated with subscriptions for the Company's offerings divided by the Average Subscriber for its businesses. Monthly SubscriptionRevenue for quarterly periods for each respective business is calculated as Subscription Revenue divided by the number of months in the respective quarterly period. The “Average Subscriber” for quarterly periods for eachrespective business is the average of its Incoming Subscribers and End of Period Subscribers for the respective quarterly period.
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WW INTERNATIONAL, INC. AND SUBSIDIARIESOPERATIONAL STATISTICS (IN THOUSANDS, EXCEPT PERCENTAGES AND MONTHLY SUBSCRIPTION REVENUE PER AVERAGE SUBSCRIBER)UNAUDITED Successor CombinedNine Months Ended Nine Months EndedSeptember 30, 2026 September 30, 2025 Variance Variance(Constant Currency) (Constant Currency) Incoming Subscribers(1) Incoming Behavioral Subscribers 2,631 N/A 3,244 (18.9%) N/AIncoming Clinical Subscribers 130 N/A 92 41.9% N/AIncoming Subscribers 2,761 N/A 3,336 (17.2%) N/A End of Period Subscribers(2) End of Period Behavioral Subscribers 2,122 N/A 2,862 (25.9%) N/AEnd of Period Clinical Subscribers 174 N/A 124 40.4% N/AEnd of Period Subscribers 2,296 N/A 2,986 (23.1%) N/A Monthly Subscription Revenue Per AverageSubscriber(3) Monthly Behavioral Subscription Revenue PerAverage Subscriber $ 17.00$ 16.78$ 16.43 3.5% 2.2% Monthly Clinical Subscription Revenue PerAverage Subscriber $ 74.33$ 74.33$ 78.30 (5.1%) (5.1%) Monthly Subscription Revenue Per AverageSubscriber $ 20.92$ 20.72$ 18.71 11.8% 10.7% Note: Totals may not sum due to rounding. (1)The “Incoming Subscribers” metric reports WW subscribers in Company-owned operations at a given period start.(2)The “End of Period Subscribers” metric reports WW subscribers in Company-owned operations at a given period end. (3)The “Monthly Subscription Revenue Per Average Subscriber” metric reports the monthly fees associated with subscriptions for the Company's offerings divided by the Average Subscriber for its businesses. Monthly SubscriptionRevenue for year-to-date periods for each respective business is calculated as Subscription Revenue divided by the number of months in the respective year-to-date period. The “Average Subscriber” for year-to-date periods foreach respective business is the average of its Incoming Subscribers at the beginning of the fiscal year and its End of Period Subscribers for each quarter end within the respective year-to-date period. WW INTERNATIONAL, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(IN THOUSANDS, EXCEPT PERCENTAGES)UNAUDITED Successor Three Months Ended Three Months EndedSeptember 30, 2026 September 30, 2025Selling, Selling,Product General, and Product General, andGross Marketing Development Administrative Gross Marketing Development AdministrativeProfit Expenses Expenses Expenses Profit Expenses Expenses Expenses GAAP $108,692 $ 33,094 $ 5,235 $ 33,849 $124,111 $ 48,404 $ 7,550 $ 60,122% of Revenue 71.1% 21.6% 3.4% 22.1% 72.1% 28.1% 4.4% 34.9% Adjustments: Transaction Costs(1) $ —$ —$ —$ —$ —$ —$ —$ (9,126) Depreciation and AmortizationExpenses 5,353 — — (7,696) 5,135 — (58) (20,301) Restructuring Charges(2) — — — — 23 — — (99) Share-based CompensationExpense 0 (20) (99) (586) — — — — Executive Related Costs(3) — (856) — (535) — — — — Total Adjustments $ 5,354 $ (875) $ (99) $ (8,816) $ 5,158 $ —$ (58) $ (29,525) Adjusted $114,046 $ 32,219 $ 5,136 $ 25,033 $129,269 $ 48,404 $ 7,492 $ 30,597 % of Revenue 74.6% 21.1% 3.4% 16.4% 75.1% 28.1% 4.4% 17.8% Currency Adjustment 334 40 2 19 N/A N/A N/A N/A Constant Currency $109,026 $ 33,134 $ 5,237 $ 33,868 N/A N/A N/A N/A% of Revenue 71.1% 21.6% 3.4% 22.1% N/A N/A N/A N/A Adjusted Constant Currency$114,380 $ 32,259 $ 5,138 $ 25,052 N/A N/A N/A N/A% of Revenue 74.6% 21.0% 3.4% 16.3% N/A N/A N/A N/A Note: Totals may not sum due to rounding. (1)Certain non-recurring transaction costs related to strategic alternatives and the Company's Chapter 11 financial reorganization. (2)Restructuring charges, from previously disclosed restructuring plans, consist of expenses associated with the reduction in headcount as a result of certain strategic re-alignments. (3)Expenses in connection with the management of certain executive matters.
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WW INTERNATIONAL, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES (IN THOUSANDS, EXCEPT PERCENTAGES)UNAUDITED Successor PredecessorPeriod from Period fromNine Months Ended June 25, 2025 December 29, 2024September 30, 2026 through September 30, 2025 through June 24, 2025Selling, Selling, Selling,Product General, and Product General, and Product General, andGross Marketing Development Administrative Gross MarketingDevelopment Administrative Gross Marketing Development Administrative Profit Expenses Expenses Expenses Profit Expenses Expenses Expenses Profit Expenses Expenses Expenses GAAP$341,507 $173,903 $19,768 $132,286 $133,020 $51,188 $8,236 $62,975 $263,384 $110,871 $25,281 $78,480 %ofRevenue 70.6% 36.0% 4.1% 27.4% 72.2% 27.8% 4.5% 34.2% 72.4% 30.5% 7.0% 21.6% Adjustments:TransactionCosts(1) $ —$ —$ —$ —$ —$ —$ —$(9,308) $ —$ —$ —$(20,873) DepreciationandAmortizationExpenses 15,865 — — (48,986) 5,465 — (62) (21,647) 8,650 — (115) (5,440) RestructuringCharges(2) (65) — — (377) 23 — — (99) (2,455) — — (2,333) Share-basedCompensationExpense 1 (321) (317) (1,484) — — — — — — — (4,032) ExecutiveRelatedCosts(3) — (856) — (5,897) — — — — — — — — TotalAdjustments $15,801 $(1,176) $(317) $(56,745) $5,488 $ —$(62) $(31,054) $6,195 $ —$(115) $(32,677) Adjusted $357,308 $172,727 $19,451 $75,541 $138,508 $51,188 $8,174 $31,921 $269,579 $110,871 $25,166 $45,803 %ofRevenue 73.9% 35.7% 4.0% 15.6% 75.2% 27.8% 4.4% 17.3% 74.1% 30.5% 6.9% 12.6% CurrencyAdjustment (4,054) (988) (8) (294) N/A N/A N/A N/A N/A N/A N/A N/A
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ConstantCurrency $337,453 $172,915 $19,760 $131,992 N/A N/A N/A N/A N/A N/A N/A N/A %ofRevenue 70.5% 36.1% 4.1% 27.6% N/A N/A N/A N/A N/A N/A N/A N/A AdjustedConstantCurrency $353,254 $171,739 $19,443 $75,248 N/A N/A N/A N/A N/A N/A N/A N/A %ofRevenue 73.8% 35.9% 4.1% 15.7% N/A N/A N/A N/A N/A N/A N/A N/A Note: Totals may not sum due to rounding. (1) Certain non-recurring transaction costs related to strategic alternatives and the Company's Chapter 11 financial reorganization. (2) Restructuring charges consist of expenses associated with the reduction in headcount as a result of certain strategic re-alignments. Restructuring charges include the previously disclosed 2025 restructuring plan, the previouslydisclosed 2024 restructuring plan and the previously disclosed 2023 restructuring plan. (3) Expenses in connection with the management of certain executive matters. WW INTERNATIONAL, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(IN THOUSANDS, EXCEPT PERCENTAGES)UNAUDITED Successor PredecessorPeriod from Period fromThree Months EndedSeptember 30, 2026 Nine Months EndedSeptember 30, 2026 Three Months EndedSeptember 30, 2025 June 25, 2025 December 29, 2024through September 30, 2025 through June 24, 2025 Net Income (Loss) $ 15,108 $ (22,818) $ (57,516) $ (56,262) $ 1,118,103Net Income (Loss) Margin 9.9% (4.7%) (33.4%) (30.5%) 307.5% Interest 10,861 33,925 12,052 12,975 38,664Taxes 10,692 10,360 53,157 52,634 1,669Depreciation and Amortization Expenses 13,050 64,851 25,493 27,174 14,201Share-based Compensation Expense 705 2,123 — — 4,032EBITDA $ 50,416 $ 88,441 $ 33,186 $ 36,521 $ 1,176,669EBITDA Margin 33.0% 18.3% 19.3% 19.8% 323.6% Franchise Rights Acquired Impairments(1) — — — — 27,549 Reorganization Items, net(2) — — — — (1,143,918) Gain on Extinguishment of Debt(3) — (4,612) — — — Transaction Costs(4) — — 9,126 9,308 20,873 Restructuring Charges(5) — 313 122 122 (122) Executive Related Costs(6) 1,391 6,752 — — — Other(7) (147) (1,305) 342 1,274 6,685 Adjusted EBITDA $ 51,660 $ 89,589 $ 42,776 $ 47,225 $ 87,736Adjusted EBITDA Margin 33.8% 18.5% 24.9% 25.6% 24.1% Note: Totals may not sum due to rounding. (1) The Company's franchise rights acquired impairment charge related to its United States unit of account.(2) The net reorganization gain related to the Company's emergence from its Chapter 11 financial reorganization and primarily consisted of the gain on settlement of liabilities subject to compromise and the impacts of fresh startvaluation adjustments. (3) Gain on extinguishment of debt consists of the Company's voluntary prepayment in May 2026 of a portion of its New Term Loan Facility at 68.5% of par.(4) Certain non-recurring transaction costs related to strategic alternatives and the Company's Chapter 11 financial reorganization. (5) Restructuring charges consist of expenses associated with the reduction in headcount as a result of certain strategic re-alignments. Restructuring charges include the previously disclosed 2025 restructuring plan, the previouslydisclosed 2024 restructuring plan and the previously disclosed 2023 restructuring plan. (6) Expenses in connection with the management of certain executive matters. (7) Primarily consists of the impact of foreign currency on intercompany transactions. Source: WW International Inc.View All News Sourcecorporate.ww.com Captured5 nov. 2026 13:05 https://corporate.ww.com/news/news-details/2026/Weight-Watchers-Announces-Third-Quarter-2026-Results/default.aspx