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Mar 30, 2024
Weight Watchers Q1 2024 Earnings Report
WW International's Q1 2024 results were announced, revealing a mix of subscriber trends and financial adjustments.
Key Takeaways
WW International reported Q1 2024 revenues of $206.5 million. The company's end-of-period subscribers remained steady at 4.0 million, including 91,000 clinical subscribers. The company experienced an operating loss of $269.3 million, primarily due to non-cash intangible impairment charges, but adjusted operating loss was $5.6 million excluding these charges and restructuring costs.
End of period subscribers totaled 4.0 million, which included 91,000 clinical subscribers.
Revenues reached $206.5 million.
Operating loss was $269.3 million, impacted by $258.0 million in non-cash intangible impairment charges.
The company is maintaining its revenue guidance for 2024, anticipating a return to year-over-year growth in subscription revenues.
Revenue by Segment
Forward Guidance
The company provided an update to its full year fiscal 2024 guidance, maintaining its revenue outlook and adjusting operating income expectations.
Positive Outlook
- Revenue guidance maintained in the range of $830.0 million to $860.0 million.
- Adjusted operating income is expected to be in the range of $100.0 million to $110.0 million, excluding certain charges.
- Guidance reflects a $55 million year-over-year headwind from the strategic decision to wind down the Company’s low-margin consumer products business.
- Company expects to end the year with total subscribers in the range of 3.8 million to 4.0 million.
- Company expects between 140 thousand and 160 thousand subscribers to our new WeightWatchers Clinic.
Challenges Ahead
- Operating loss is expected to be in the range of $163.7 million to $153.7 million.
- Revenue guidance reflects a $55 million year-over-year headwind from the strategic decision to wind down the Company’s low-margin consumer products business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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