NASDAQ
14 hours, 45 minutes ago 
WW
Ww International, INC
8-K: WW International Faces Delisting from Nasdaq Amid Chapter 11 Proceedings
WW International (Weight Watchers) receives notice of delisting from Nasdaq following the commencement of voluntary prepackaged Chapter 11 cases.
Worse than expected
 
NASDAQ
3 days, 1 hours ago 
WW
Ww International, INC
8-K: WW International Files for Chapter 11 to Restructure Debt, Aims for Quick Exit
WW International, Inc. initiates a pre-packaged Chapter 11 reorganization to eliminate $1.15 billion in debt and enhance its financial flexibility.
NASDAQ
3 days, 15 hours ago 
WW
Ww International, INC
10-Q: WW International Faces Debt Restructuring Amidst Financial Challenges
WW International is in discussions to restructure its debt and anticipates a prepackaged bankruptcy filing due to financial difficulties and an expected event of default.
Worse than expected
 
NASDAQ
3 days, 15 hours ago 
WW
Ww International, INC
8-K: WW International Announces Q1 2025 Results, Clinical Subscriptions Surge Amid Debt Restructuring
WW International reports a 9.7% revenue decrease in Q1 2025, but sees a 57.1% increase in clinical subscription revenues and is engaged in discussions for a plan of reorganization to significantly reduce debt.
Worse than expected
 
NASDAQ
18 days, 15 hours ago 
WW
Ww International, INC
DEF: WW International Sets Date for 2025 Annual Shareholder Meeting, Outlines Key Proposals
WW International announces its 2025 Annual Meeting of Shareholders to be held virtually on June 6, 2025, featuring proposals for director elections, auditor ratification, and executive compensation approval.
NASDAQ
21 days, 15 hours ago 
WW
Ww International, INC
Form 4: WW International Executive Michael Amsel Awarded Restricted Stock Units
Chief Marketing Officer Michael Amsel receives 524,109 restricted stock units in WW International, Inc.
NASDAQ
39 days, 15 hours ago 
WW
Ww International, INC
Form 4: WW International CEO Tara Comonte Reports Stock Transactions
Tara Comonte, President and CEO of WW International, reports the acquisition and disposal of common stock and restricted stock units on March 27, 2025.
NASDAQ
49 days, 15 hours ago 
WW
Ww International, INC
8-K: WW International Faces Nasdaq Delisting Notice After Share Price Drops Below $1.00
WW International (WeightWatchers) received a notice from Nasdaq for failing to maintain a minimum share price of $1.00, putting its listing at risk.
Worse than expected
 
NASDAQ
67 days, 14 hours ago 
WW
Ww International, INC
Form 4: WW International CEO Tara Comonte Reports Stock Transactions
Tara Comonte, President and CEO of WW International, reports the acquisition and disposal of common stock and restricted stock units on February 27, 2025.
NASDAQ
70 days, 23 hours ago 
WW
Ww International, INC
10-K: WW International Reports Fiscal Year 2024 Results: Transformation Efforts Continue Amidst Market Challenges
WW International faces revenue decline due to shifts in consumer behavior and increased competition, but focuses on strategic initiatives and cost management.
Worse than expected
 
WW 
Ww International, INC 
NASDAQ

8-K: WW International Announces Q1 2025 Results, Clinical Subscriptions Surge Amid Debt Restructuring

Sentiment:
 Earnings Release
 6 May 2025 4:03 PM

WW International reports a 9.7% revenue decrease in Q1 2025, but sees a 57.1% increase in clinical subscription revenues and is engaged in discussions for a plan of reorganization to significantly reduce debt.

Worse than expected
  Overall revenues decreased by 9.7% year-over-year, indicating a decline in the core business.  Total subscribers decreased by 14.2% year-over-year, suggesting challenges in retaining and attracting customers.  The company is planning a prepackaged filing under Chapter 11 of the U.S. Bankruptcy Code, indicating financial distress. 

Summary
  • WW International, Inc. announced its Q1 2025 financial results, revealing a mixed performance.
  • Total subscribers reached 3.4 million, a 14.2% decrease compared to the previous year.
  • However, clinical subscribers increased by 55.2% to 135,000.
  • Revenues totaled $186.6 million, down 9.7% year-over-year, but clinical subscription revenues grew by 57.1% to $29.5 million.
  • Subscription revenues per paid week increased by 4.8% year-over-year.
  • The company reported a net loss of $72.6 million, an improvement from the $347.9 million loss in the prior year period.
  • Adjusted EBITDAS was $26.9 million, up from $7.2 million in the prior year period.
  • WW International is in discussions with lenders and noteholders regarding a plan of reorganization to significantly reduce debt.
  • The company expects to reach a resolution imminently and effectuate the agreement through a prepackaged filing under Chapter 11 of the U.S. Bankruptcy Code.
Sentiment

Score: 4

Explanation: The sentiment is cautiously negative. While there are positive aspects like growth in clinical subscriptions and improved profitability, the overall revenue decline, subscriber losses, and planned Chapter 11 filing raise significant concerns about the company's future.

Highlights
  • Total End of Period Subscribers were 3.4 million, down 14.2% year-over-year.
  • End of Period Clinical Subscribers increased 55.2% year-over-year to 135,000.
  • Revenues decreased 9.7% year-over-year to $186.6 million.
  • Clinical Subscription Revenues increased 57.1% year-over-year to $29.5 million.
  • Subscription Revenues Per Paid Weeks increased 4.8% year-over-year.
  • Gross Margin increased 450 basis points year-over-year to 71.2%.
  • Net Loss improved from $347.9 million to $72.6 million year-over-year.
  • Adjusted EBITDAS increased from $7.2 million to $26.9 million year-over-year.
  • The company recorded a non-cash impairment charge of franchise rights acquired of $27.5 million.
  • Cash and cash equivalents totaled $236.3 million, including $171.3 million in borrowings on the revolving credit facility.
Positives
  • Clinical subscription revenues showed strong growth, increasing by 57.1% year-over-year.
  • Subscription revenues per paid week increased by 4.8% year-over-year.
  • Gross margin improved by 450 basis points year-over-year.
  • Net loss significantly decreased from $347.9 million to $72.6 million year-over-year.
  • Adjusted EBITDAS increased substantially from $7.2 million to $26.9 million year-over-year.
  • The company is actively engaged in discussions to reduce its debt through a plan of reorganization.
Negatives
  • Total subscribers decreased by 14.2% year-over-year.
  • Overall revenues decreased by 9.7% year-over-year.
  • The company recorded a non-cash impairment charge of franchise rights acquired of $27.5 million.
  • The company is planning a prepackaged filing under Chapter 11 of the U.S. Bankruptcy Code.
Risks
  • The company faces headwinds in its behavioral business, leading to lower incoming subscribers and recruitment challenges.
  • The company's substantial debt and debt service obligations pose a risk.
  • The company is planning a prepackaged filing under Chapter 11 of the U.S. Bankruptcy Code, indicating financial distress.
  • The company is not providing full year fiscal 2025 guidance at this time.
Future Outlook

The company is not providing full year fiscal 2025 guidance at this time, but is engaged in substantive discussions with lenders and noteholders to take decisive actions with its capital structure and strengthen its financial foundation.

Management Comments
  • Tara Comonte, President and CEO, stated that the company is making progress on its strategic priorities with continued momentum in its Clinical business, while laying the foundation for long-term, sustainable growth.
  • Felicia DellaFortuna, CFO, noted that while Clinical revenue grew 57% year-over-year, revenue headwinds in the Behavioral business continued, but the company increased Adjusted EBITDAS by $20 million year-over-year through operational efficiency and strategic cost management.
Industry Context

The weight management landscape is evolving, with increased competition and new approaches like GLP-1 medications. WW International is trying to position itself by combining behavioral support, clinical care, and community.

Comparison to Industry Standards
  • It's difficult to directly compare WW International's results to industry standards without specific competitor data.
  • However, the growth in clinical subscriptions aligns with the broader trend of increased interest in medical weight loss solutions.
  • Companies like Novo Nordisk (Wegovy, Ozempic) and Eli Lilly (Mounjaro) are seeing significant growth in their GLP-1 receptor agonist medications for weight loss and diabetes, indicating a strong market demand for clinical interventions.
  • WW International's move to incorporate clinical offerings is a response to this trend, but its overall subscriber decline suggests it's facing challenges in maintaining its traditional behavioral weight management business.
Stakeholder Impact
  • Shareholders face significant uncertainty due to the planned Chapter 11 filing and potential dilution.
  • Employees may experience job insecurity during the restructuring process.
  • Customers may be concerned about the long-term viability of the company and its services.
  • Suppliers and creditors face the risk of delayed or reduced payments during the bankruptcy proceedings.
Next Steps
  • The company will continue discussions with lenders and noteholders to finalize a plan of reorganization.
  • The company anticipates a prepackaged filing under Chapter 11 of the U.S. Bankruptcy Code imminently.
  • The company will focus on delivering a unified member experience, revitalizing its brand, innovating and expanding adjacent revenue streams, and driving operational excellence.
Key Dates
  • 1963: WeightWatchers was founded.
  • March 29, 2025: End of the first quarter of fiscal year 2025.
  • March 30, 2024: End of the first quarter of fiscal year 2024.
  • May 6, 2025: Date of the press release announcing Q1 2025 results.
Keywords
WW International, WeightWatchers, Financial Results, Q1 2025, Clinical Subscriptions, Debt Restructuring, Chapter 11, EBITDAS, Subscribers, Revenue
WW 
Ww International, INC 
NASDAQ
Sector: TBD
 
Filings with Classifications
Worse than expected
9 May 2025 5:03 PM
8-K Filing
  • The company received a delisting notice from Nasdaq.
  • The company has commenced voluntary prepackaged cases under chapter 11 of title 11 of the United States Code.
  • Trading of WW International's common stock is expected to be suspended on May 16, 2025.
Worse than expected
6 May 2025 4:13 PM
Quarterly Report
  • The company's financial results were worse than expected due to declining revenues and increasing losses.
  • The company's leverage ratio was worse than required by its debt covenants, leading to an expected event of default.
  • The company's outlook is worse than expected due to the anticipation of a bankruptcy filing.
Worse than expected
6 May 2025 4:03 PM
Earnings Release
  • Overall revenues decreased by 9.7% year-over-year, indicating a decline in the core business.
  • Total subscribers decreased by 14.2% year-over-year, suggesting challenges in retaining and attracting customers.
  • The company is planning a prepackaged filing under Chapter 11 of the U.S. Bankruptcy Code, indicating financial distress.
Worse than expected
21 March 2025 4:05 PM
8-K Filing
  • WW International received a notice from Nasdaq for failing to maintain a minimum share price of $1.00, which is worse than expected.
Worse than expected
28 February 2025 7:14 AM
Annual Results
  • The company's revenue decreased by 11.6% compared to the previous year.
  • The company recorded a net loss of $345.7 million, a significant increase from the net loss of $112.3 million in the previous year.
  • The company's operating loss was $236.2 million, compared to an operating income of $22.3 million in the previous year.
Worse than expected
27 February 2025 4:01 PM
Earnings Release
  • Overall subscriber numbers and total revenues decreased in both Q4 and full year 2024.
  • Digital and Workshops + Digital businesses experienced declines in subscribers and paid weeks.
  • The company reported a significant operating loss for the full year, driven by non-cash impairment charges.
Worse than expected
3 February 2025 4:15 PM
8-K Filing
  • The company needed to draw down the remaining amount of its revolving credit facility, which may indicate financial strain.
Worse than expected
6 November 2024 4:03 PM
Quarterly Report
  • The company's Q3 2024 results were worse than expected due to a significant net loss, a decline in revenue, and substantial impairment charges.
  • The company's net loss for the first nine months of 2024 was significantly worse than the same period in 2023 due to a large impairment charge.
Worse than expected
6 November 2024 7:05 AM
Quarterly Report
  • The company's revenue and overall subscriber numbers were down compared to the prior year, indicating worse than expected results.
Worse than expected
1 August 2024 7:13 AM
Quarterly Report
  • The company's revenue declined by 10.9% in the second quarter and 12.8% for the first six months of 2024, indicating worse than expected performance.
  • The company recorded a significant net loss of $324.6 million for the first six months of 2024, primarily due to a large impairment charge, which is worse than expected.
Worse than expected
1 August 2024 7:05 AM
Quarterly Report
  • The company's revenue decreased by 10.9% year-over-year, indicating worse than expected performance.
  • The company's net income decreased by 54.2% year-over-year, indicating worse than expected performance.
  • The company's total end of period subscribers decreased by 6.1% year-over-year, indicating worse than expected performance.
Worse than expected
24 May 2024 5:15 PM
Amendment to 8-K Filing
  • The proposal to adopt a majority voting standard for uncontested director elections was not approved by shareholders, which is a negative outcome for the company's governance structure.
  • The initial voting results were erroneous, requiring a correction, which reflects poorly on the company's internal processes.
Worse than expected
9 May 2024 5:39 PM
Quarterly Report Amendment
  • The company's net loss of $347.9 million is significantly worse than the $118.7 million loss in the same period last year.
  • The company's revenue decreased by 14.6%, indicating a worse performance compared to the prior year.
  • The company's operating loss of $269.3 million is significantly worse than the $28.6 million loss in the prior year.
Worse than expected
9 May 2024 4:30 PM
Quarterly Report Amendment
  • The company's revenue decreased by 14.6% year-over-year, indicating a worse performance than expected.
  • The company reported a significant operating loss of $269.3 million, primarily due to non-cash impairment charges, which is worse than expected.
  • The company's total end of period subscribers decreased by 0.5% year-over-year, indicating a worse performance than expected.
Worse than expected
2 May 2024 4:09 PM
Quarterly Report
  • The company's net loss of $347.9 million is significantly worse than the $118.7 million loss in the same quarter last year.
  • The company's revenue decreased by 14.6%, indicating a decline in business performance.
  • The company incurred a $258 million impairment charge on franchise rights, further impacting the financial results.
Worse than expected
2 May 2024 4:05 PM
Quarterly Report
  • The company reported a significant operating loss of $269.3 million, primarily due to non-cash impairment charges, which is worse than expected.
  • Subscription revenues decreased by 3.7% on a constant currency basis, indicating a decline in core business performance.
  • Other revenues declined dramatically by 92.0% on a constant currency basis, which is a significant negative impact.
Better than expected
14 March 2024 4:41 PM
Regulation FD Disclosure
  • The company is on track to exceed its previously provided guidance for clinical subscribers, indicating better than expected performance.
Worse than expected
28 February 2024 4:29 PM
Annual Results
  • The company's revenue decreased by 14.5% year-over-year, indicating worse than expected performance.
  • The company's gross profit decreased by 14.8% year-over-year, indicating worse than expected performance.
  • The company's operating income margin decreased by 4.6% year-over-year, indicating worse than expected performance.
Worse than expected
28 February 2024 4:06 PM
Quarterly Report
  • The company's revenue decreased by 7.6% in Q4 2023 and 14.5% for the full year 2023, indicating worse than expected performance.
  • The company reported a net loss of $88.1 million in Q4 2023 and $112.3 million for the full year 2023, which is worse than the prior year.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.