Original source text
Total End of Period Subscribers of 2.5 million; End of Period Clinical Subscribers of 197 thousand, up 55.7% year-over-yearCore+ End of Period Subscribers of 541 thousand, up 13.9% year-over-year, reflecting third consecutive quarter of sequential growth
Revenue of $162.3 million; Clinical Subscription Revenue of $39.9 million, up 30.4% year-over-year
Reaffirms Full Year 2026 Financial Guidance
NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- WW International, Inc. (Nasdaq: WW) (“Weight Watchers” or the “Company”), the global leader in science-backed weight management, today announced its results for the second quarter of 2026 ended June 30, 20261 in this Earnings Press Release and a Shareholder Letter issued today and posted on the Company’s Corporate Website.
“We view 2026 as a year of focused transition for Weight Watchers, and our Q2 results reflect that work taking hold across the business,” said Jon Volkmann, Chief Operations Officer and member of the Company’s Interim Office of the Chief Executive. “Core+, our high-value Behavioral tier delivering tailored expert coaching and integrated weight health support, posted sequential subscriber growth for the third consecutive quarter, underscoring that members continue to embrace our holistic approach.”
“We are pleased with the continued momentum in Core+, which saw subscriber count grow 13.9% year-over-year and represents a clear signal that interest in our Behavioral business is stabilizing while our Clinical business continues to grow,” said Felicia DellaFortuna, Chief Financial Officer and member of the Company’s Interim Office of the Chief Executive. “End of Period Clinical Subscribers grew 55.7% year-over-year, and the sequential stability we saw in subscribers from Q1 to Q2 2026 reflects a deliberate recalibration of marketing investment following elevated peak season spend. We are reaffirming our full-year 2026 Revenue and Adjusted EBITDA2 guidance. With a business that remains cash accretive and generated positive operating cash flow in Q2, we have confidence in our ability to continue building momentum into 2027 and beyond.”
Q2 Business Updates
Q2 2026 Clinical Subscription Revenue grew 30.4% year-over-year and End of Period Clinical Subscribers grew 55.7% year-over-year, despite lapping significant prior-year growth in Q2 2025 from the Company’s former compounded semaglutide offering. End of Period Clinical Subscribers were flat compared to Q1 2026, as the Company strategically recalibrated its Clinical marketing investment following elevated spend in Q1 2026.Core+ represented 541 thousand End of Period Subscribers at the end of Q2 2026, up 13.9% from Q2 2025, representing the third consecutive quarter of sequential growth in the Company’s higher-value Behavioral tier.Q2 Monthly Subscription Revenue Per Average Subscriber (ARPU) increased 10.2% year-over-year, driven by the continued mix shift towards Clinical.Q2 Gross Margin was 70.3%. Q2 Adjusted Gross Margin2 was 73.6%, which remained near record highs, reflecting continued operational discipline across the Company’s portfolio.Marketing expense was $47.9 million or 29.5% of Revenue, declining from $92.9 million in Q1 2026 as the Company moved past peak season and rebalanced investment across its business lines.Q2 Net Income was $14.1 million, which reflects higher depreciation and amortization related to Fresh Start Accounting1. Q2 Adjusted EBITDA2 was $39.8 million.
Balance Sheet and Liquidity Updates
Cash and Cash Equivalents balance as of June 30, 2026 was $101.5 million.Operating activities generated $24.3 million of cash in Q2 2026, reflecting the cash-generative nature of the Weight Watchers business and continued commitment to maintaining a strong liquidity position as the Company executes its strategic priorities.In Q2 2026, the Company prepaid $36.8 million in cash to reduce the principal amount of its outstanding term loan. The prepayment was comprised of the following two components: In June 2026, $26.8 million in aggregate principal amount of prepayment from the annual cash sweep; andIn May 2026, $10.0 million as part of the voluntary solicitation, which was fully subscribed at 68.5% of par. As a result of these actions, the Company reduced the aggregate principal amount of its outstanding term loan by $41.4 million and reduced its annualized interest expense by approximately $4 million3.
2026 Guidance
The Company reaffirms its previously provided guidance for the year ending December 31, 2026.
Revenue guidance of $620 million to $635 million.Adjusted EBITDA2 guidance of $105 million to $115 million. Second Quarter 2026 Conference Call and Webcast
The Company has scheduled a conference call today at 5:00 p.m. ET to discuss results. The webcast of the conference call will be available on the Company’s 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.
1Fresh Start Accounting and Predecessor and Successor Periods
In connection with the Company’s emergence from its financial reorganization process on June 24, 2025, the Company applied fresh start accounting which resulted in Successor and Predecessor financial statement presentation. References to “Successor” relate to the Company’s operations for the three and six months ended June 30, 2026 and the period from June 25, 2025 through December 31, 2025. References to “Predecessor” relate to the Company’s operations for the periods from March 30, 2025 through June 24, 2025 and December 29, 2024 through June 24, 2025. Accordingly, the consolidated financial statements after June 24, 2025 are not comparable with the consolidated financial statements as of or prior to that date.
2Statement regarding Non-GAAP Financial Measures
To supplement the Company’s consolidated results presented in accordance with accounting principles generally accepted in the United States (“GAAP”), the Company has disclosed non-GAAP financial 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 Company’s emergence from its Chapter 11 financial reorganization, (c) gain on extinguishment of debt, (d) transaction costs related to strategic alternatives and the Company’s Chapter 11 financial reorganization, (e) net restructuring charges associated with the previously disclosed 2025, 2024, and 2023 restructuring plans, (f) non-recurring 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 the reconciliations 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 in addition to reported results helps improve investors’ ability to understand the Company’s operating results and evaluate the Company’s performance in comparison to prior periods. Constant currency 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 to evaluate the Company’s performance. In this press release, the Company calculates constant currency by calculating current-year results using prior-year foreign currency exchange rates. The Company 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 results should 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 the Company 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 Company’s business and are useful for period-over-period comparisons of the performance of the Company’s business. While the Company believes that these non-GAAP financial measures are useful in evaluating the Company’s 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 with GAAP. 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 this release 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 forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of the Company’s control, or cannot be reasonably predicted. 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.
3The interest rate in effect for the term loan as of June 30, 2026 was 10.53%.
Definitions
“Behavioral” business refers to providing subscriptions to the Company’s digital product offerings with the option to add on unlimited access to the Company’s workshops.
“Clinical” business refers to providing subscriptions to the Company’s clinical product offerings provided by Weight Watchers Clinic and third parties combined with the Company’s digital subscription product offerings and unlimited access to the Company’s workshops.
“Revenue” - “Subscription Revenue” consists of the aggregate of: (a) “Behavioral Subscription Revenue”, the fees associated with subscriptions for the Company’s Behavioral offerings; and (b) “Clinical Subscription Revenue”, the fees associated with subscriptions for the Company’s Clinical offerings. In addition, “Other Revenue” consists of revenue from licensing, franchise fees with respect to commitment plans and royalties, publishing and other revenue. “Revenue” consists of the aggregate of Subscription Revenue and Other Revenue.
“Incoming Subscribers” - “Subscribers” refer to Behavioral subscribers and Clinical subscribers who participate in recurring bill programs in Company-owned operations. The “Incoming Subscribers” 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 monitor changes in the subscriber base which directly impacts the Company’s 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 this metric. Management utilizes this metric to monitor changes in the subscriber base which directly impacts the Company’s revenue growth and trends.
“Monthly Subscription Revenue Per Average Subscriber” (“ARPU”) - 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 Subscription Revenue for both quarterly and year-to-date periods for each respective business are 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 each respective 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 each 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. 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 its No. 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 clinically appropriate, 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 and sustain their goals. Members can access these solutions directly, or through Weight Watchers for Business’ full-spectrum platform for employers, health plans, and payers. In a landscape crowded with 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 every member 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, as amended, including, in particular, any statements about the Company’s 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-looking statements 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. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things: the Company's recent emergence from bankruptcy, which could adversely affect its business and relationships and subjects us to risks and uncertainties; competition from other weight management and health and wellness industry participants or the development of more effective 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 rapidly evolving 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 its existing 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 respond to consumer trends or sentiment; the Company's ability to successfully implement strategic initiatives; the effectiveness and efficiency of its advertising and marketing programs across multiple platforms, 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, PCs’ healthcare 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 motivate the Company's workforce; the Company’s chief executive officer transition, and its ability to appoint a new chief executive officer with the required level of experience and expertise in a timely manner; the Company's ability to successfully make acquisitions or enter into collaborations or joint ventures, including its ability to 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 a result 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 the credit 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 impede accessing 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 do so 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; the ability 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 or systems; 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 to successfully 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 its involvement 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 complex healthcare 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 pay cash 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 the actions 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's common stock on Nasdaq; and other risks and uncertainties, including those included in this press release and those detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission (the “SEC”) (which are available on the SEC’s EDGAR database at www.sec.gov and via the Company’s website at corporate.ww.com). You should not put undue reliance on any forward-looking statements. You should understand that many important factors, including those discussed herein, could cause the Company’s results to differ materially from 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-looking statements 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 are advised to review the Company’s filings with the SEC (which are available on the SEC’s EDGAR database at www.sec.gov and via the Company’s website at corporate.ww.com).
For investor inquiries, please contact:
Anna Kate Heller
[email protected]
For media inquiries, please contact:
Melissa Garbayo
[email protected]
WW INTERNATIONAL, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(IN THOUSANDS)UNAUDITED Successor June 30, December 31, 2026 2025ASSETS CURRENT ASSETS Cash and cash equivalents$101,497 $160,279 Restricted cash 5,796 6,298 Receivables (net of allowances: June 30, 2026 - $1,985 and December 31, 2025 - $1,651) 15,923 16,378 Prepaid income taxes 6,573 8,097 Prepaid marketing and advertising 3,079 9,275 Prepaid expenses and other current assets 14,017 13,277 TOTAL CURRENT ASSETS 146,885 213,604 Property and equipment, net 6,886 8,115 Operating lease assets 2,148 2,933 Goodwill 199,910 200,135 Other intangible assets, net 453,289 490,664 Deferred income taxes 16,068 16,482 Other noncurrent assets 15,256 14,825 TOTAL ASSETS$840,442 $946,758 LIABILITIES AND EQUITY CURRENT LIABILITIES Portion of operating lease liabilities due within one year$991 $1,260 Accounts payable 22,537 9,212 Salaries and wages payable 20,366 34,375 Accrued marketing and advertising 12,238 22,985 Accrued interest 867 1,084 Other accrued liabilities 21,527 23,049 Income taxes payable 2,333 6,006 Deferred revenue 25,215 28,565 TOTAL CURRENT LIABILITIES 106,074 126,536 Long-term debt, net 423,995 465,466 Long-term operating lease liabilities 1,325 1,893 Deferred income taxes 29,858 34,021 Other noncurrent liabilities 540 771 TOTAL LIABILITIES 561,792 628,687 EQUITY Successor common stock, $0 par value; 1,000,000 shares authorized; 9.999 shares issued at June 30, 2026 and 9,992 shares issued at December 31, 2025 379,690 378,777 Accumulated deficit (100,021) (62,095) Accumulated other comprehensive (loss) income (1,019) 1,389 TOTAL EQUITY 278,650 318,071 TOTAL LIABILITIES AND TOTAL EQUITY$840,442 $946,758 WW INTERNATIONAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)UNAUDITED Successor Predecessor Three Months Ended
June 30, 2026
Period from
June 25, 2025
through June 30, 2025
Period from
March 30, 2025
through June 24, 2025
Subscription revenue, net (1)$161,392 $12,078 $175,773 Other revenue, net (2) 932 89 1,224 Revenue, net 162,324 12,167 176,997 Cost of subscription revenue (3) 48,015 3,258 46,439 Cost of other revenue 167 — 50 Cost of revenue 48,182 3,258 46,489 Gross profit 114,142 8,909 130,508 Marketing expenses 47,875 2,784 32,093 Product development expenses 6,441 686 14,160 Selling, general and administrative expenses 50,352 2,853 42,851 Operating income 9,474 2,586 41,404 Reorganization items, net — — (1,143,918)Interest expense 11,588 923 11,061 Gain on extinguishment of debt (4,612) — — Other (income) expense, net (421) 932 4,478 Income before income taxes 2,919 731 1,169,782 Benefit from income taxes (11,155) (523) (20,906) Net income$14,074 $1,254 $1,190,688 Earnings per share Basic$1.41 $0.13 $14.81 Diluted$1.41 $0.13 $14.67 Weighted average common shares outstanding Basic 9,999 9,987 80,419 Diluted 10,001 9,987 81,165 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 Company’s Behavioral offerings; and (b) net “Clinical Subscription Revenue”, the fees associated with subscriptions for the Company’s 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 Six Months Ended
June 30, 2026
Period from
June 25, 2025
through June 30, 2025
Period from
December 29, 2024
through June 24, 2025
Subscription revenue, net (1)$328,749 $12,078 $360,953 Other revenue, net (2) 1,836 89 2,615 Revenue, net 330,585 12,167 363,568 Cost of subscription revenue (3) 97,460 3,258 100,026 Cost of other revenue 310 — 158 Cost of revenue 97,770 3,258 100,184 Gross profit 232,815 8,909 263,384 Marketing expenses 140,809 2,784 110,871 Product development expenses 14,534 686 25,281 Selling, general and administrative expenses 98,436 2,853 78,480 Franchise rights acquired impairments — — 27,549 Operating (loss) income (20,964) 2,586 21,203 Reorganization items, net — — (1,143,918)Interest expense 23,064 923 38,664 Gain on extinguishment of debt (4,612) — — Other (income) expense, net (1,158) 932 6,685 (Loss) income before income taxes (38,258) 731 1,119,772 (Benefit from) provision for income taxes (332) (523) 1,669 Net (loss) income$(37,926) $1,254 $1,118,103 (Net loss) earnings per share Basic$(3.79) $0.13 $13.93 Diluted$(3.79) $0.13 $13.80 Weighted average common shares outstanding Basic 9,998 9,987 80,271 Diluted 9,998 9,987 80,998 Note: Totals may not sum due to rounding.(1) “Subscription revenue, net” consists of the aggregate of: (a) net “Behavioral Subscription Revenue”, the fees associated with subscriptions for the Company’s Behavioral offerings; and (b) net “Clinical Subscription Revenue”, the fees associated with subscriptions for the Company’s Clinical offerings.(2) “Other revenue, net” consists of revenue from licensing, franchise fees with respect to commitment plans and royalties, publishing and other revenue.(3) “Cost of subscription revenue” consists of cost of revenue and operating expenses for the Company's Behavioral and Clinical services. WW INTERNATIONAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(IN THOUSANDS)UNAUDITED Successor Predecessor Six Months Ended
June 30, 2026
Period from
June 25, 2025
through June 30, 2025
Period from
December 29, 2024
through June 24, 2025
Operating activities: Net (loss) income$(37,926) $1,254 $1,118,103 Adjustments to reconcile net (loss) income to cash (used for) provided by operating activities: Depreciation and amortization 51,802 1,681 14,201 Amortization of deferred financing costs and debt (premium) discount, net (51) — 1,766 Impairment of franchise rights acquired — — 27,549 Impairment of intangible and long-lived assets 3 — 97 Share-based compensation expense 840 — 4,032 Deferred tax (benefit) provision (4,259) — 26,232 Allowance for doubtful accounts 27 — (1,131) Foreign currency exchange rate (gain) loss (1,059) 933 6,717 Non-cash reorganization items, net — — (1,176,532) Gain on extinguishment of debt (4,612) — — Changes in cash due to: Receivables 227 466 4,280 Prepaid expenses 6,978 586 (31,281) Accounts payable 12,357 406 (8,237) Accrued liabilities (26,171) 6,178 15,084 Deferred revenue (3,178) 47 (2,914) Other long term assets and liabilities, net (599) — (2,234) Income taxes (3,654) (43) (30,155) Cash (used for) provided by operating activities (9,275) 11,508 (34,423)Investing activities: Capital expenditures — — (87) Capitalized software and website development expenditures (11,935) (188) (6,253) Other items, net — — (1) Cash used for investing activities (11,935) (188) (6,341)Financing activities: Borrowings on revolving credit facility — — 171,341 Financing 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) — 153,898 Effect of exchange rate changes on cash and cash equivalents and restricted cash (1,266) 544 3,966 Net (decrease) increase in cash and cash equivalents and restricted cash (59,284) 11,864 117,100 Cash and cash equivalents and restricted cash, beginning of period 166,577 173,620 56,520 Cash and cash equivalents and restricted cash, end of period$107,293 $185,484 $173,620 WW INTERNATIONAL, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(IN THOUSANDS, EXCEPT PERCENTAGES)UNAUDITED Variance Successor 2026
vs
2025
Combined 2026
Constant Currency
vs
2025
Combined Three Months Ended
June 30, 2026
Three Months Ended
June 30, 2025
GAAP Constant Currency Combined (1) Selected Financial Data Revenue (2)$162,324 $161,523 $189,163 (14.2%) (14.6%)Behavioral Subscription Revenue (3)$121,486 $120,689 $157,258 (22.7%) (23.3%)Clinical Subscription Revenue (4)$39,906 $39,908 $30,593 30.4% 30.4%Subscription Revenue (5)$161,392 $160,597 $187,851 (14.1%) (14.5%)Other Revenue (6)$932 $926 $1,312 (29.0%) (29.4%) 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 start accounting, 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 start accounting 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 Company’s Behavioral offerings.(4) “Clinical Subscription Revenue” consists of the fees associated with subscriptions for the Company’s 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 SUBSIDIARIESRECONCILIATION OF NON-GAAP FINANCIAL MEASURES(IN THOUSANDS, EXCEPT PERCENTAGES)UNAUDITED Variance Successor 2026
vs
2025
Combined
2026
Constant Currency
vs
2025
Combined
Six Months Ended
June 30, 2026
Six Months Ended
June 30, 2025
GAAP Constant Currency Combined (1) Selected Financial Data Revenue (2)$330,585 $325,531 $375,735 (12.0%) (13.4%)Behavioral Subscription Revenue (3)$250,010 $245,006 $312,981 (20.1%) (21.7%)Clinical Subscription Revenue (4)$78,739 $78,741 $60,051 31.1% 31.1%Subscription Revenue (5)$328,749 $323,746 $373,032 (11.9%) (13.2%)Other Revenue (6)$1,836 $1,784 $2,703 (32.1%) (34.0%) 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 start accounting, 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 start accounting 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 Company’s Behavioral offerings.(4) “Clinical Subscription Revenue” consists of the fees associated with subscriptions for the Company’s 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 Successor Combined Three Months Ended Three Months Ended June 30, 2026 June 30, 2025 Variance Variance (Constant Currency) (Constant Currency)Incoming Subscribers (1) Incoming Behavioral Subscribers 2,463 N/A 3,299 (25.4%) N/A Incoming Clinical Subscribers 197 N/A 135 45.9% N/A Incoming Subscribers 2,659 N/A 3,434 (22.6%) N/A End of Period Subscribers (2) End of Period Behavioral Subscribers 2,291 N/A 3,040 (24.6%) N/A End of Period Clinical Subscribers 197 N/A 127 55.7% N/A End of Period Subscribers 2,489 N/A 3,167 (21.4%) N/A Monthly Subscription Revenue Per Average Subscriber (3) Monthly Behavioral Subscription Revenue Per Average Subscriber$17.04 $16.92 $16.54 3.0% 2.3%Monthly Clinical Subscription Revenue Per Average Subscriber$67.55 $67.55 $78.00 (13.4%) (13.4%)Monthly Subscription Revenue Per Average Subscriber$20.90 $20.80 $18.97 10.2% 9.6% 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 Subscription Revenue 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 each respective business is the average of its Incoming Subscribers and End of Period Subscribers for the respective quarterly period. WW INTERNATIONAL, INC. AND SUBSIDIARIESOPERATIONAL STATISTICS (IN THOUSANDS, EXCEPT PERCENTAGES AND MONTHLY SUBSCRIPTION REVENUE PER AVERAGE SUBSCRIBER)UNAUDITED Successor Combined Six Months Ended Six Months Ended June 30, 2026 June 30, 2025 Variance Variance (Constant Currency) (Constant Currency)Incoming Subscribers (1) Incoming Behavioral Subscribers 2,631 N/A 3,244 (18.9%) N/A Incoming Clinical Subscribers 130 N/A 92 41.9% N/A Incoming Subscribers 2,761 N/A 3,336 (17.2%) N/A End of Period Subscribers (2) End of Period Behavioral Subscribers 2,291 N/A 3,040 (24.6%) N/A End of Period Clinical Subscribers 197 N/A 127 55.7% N/A End of Period Subscribers 2,489 N/A 3,167 (21.4%) N/A Monthly Subscription Revenue Per Average Subscriber (3) Monthly Behavioral Subscription Revenue Per Average Subscriber$16.91 $16.57 $16.33 3.6% 1.5%Monthly Clinical Subscription Revenue Per Average Subscriber$75.13 $75.13 $85.01 (11.6%) (11.6%)Monthly Subscription Revenue Per Average Subscriber$20.76 $20.45 $18.77 10.6% 8.9% 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 Subscription Revenue 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 for each 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 Predecessor Period from Period from Three Months Ended June 25, 2025 March 30, 2025 June 30, 2026 through June 30, 2025 through June 24, 2025 Selling, Selling, Selling, Product General, and Product General, and Product General, and Gross Marketing Development AdministrativeGross Marketing Development Administrative Gross Marketing Development Administrative Profit Expenses Expenses Expenses Profit Expenses Expenses Expenses Profit Expenses Expenses Expenses GAAP$114,142 $47,875 $6,441 $50,352 $8,909 $2,784 $686 $2,853 $130,508 $32,093 $14,160 $42,851 % of Revenue 70.3% 29.5% 4.0% 31.0% 73.2% 22.9% 5.6% 23.4% 73.7% 18.1% 8.0% 24.2% Adjustments: Transaction Costs (1)$— $— $— $— $— $— $— $(182) $— $— $— $(10,049) Depreciation and Amortization Expenses 5,331 — — (20,585) 330 — (4) (1,347) 4,147 — (54) (3,086) Restructuring Charges (2) — — — 156 — — — — (2,071) — — (977) Share-based Compensation Expense 0 (160) (109) (463) — — — — — — — (3,171) Executive Related One-Time Costs (3) — — — (3,798) — — — — — — — — Total Adjustments$5,332 $(160) $(109) $(24,690) $330 $— $(4) $(1,529) $2,076 $— $(54) $(17,284) Adjusted$119,474 $47,715 $6,332 $25,662 $9,239 $2,784 $682 $1,324 $132,584 $32,093 $14,106 $25,567 % of Revenue 73.6% 29.4% 3.9% 15.8% 75.9% 22.9% 5.6% 10.9% 74.9% 18.1% 8.0% 14.4% Currency Adjustment (698) (41) 0 (51) N/A N/A N/A N/A N/A N/A N/A N/A Constant Currency$113,444 $47,834 $6,441 $50,301 N/A N/A N/A N/A N/A N/A N/A N/A % of Revenue 70.2% 29.6% 4.0% 31.1% N/A N/A N/A N/A N/A N/A N/A N/A Adjusted Constant Currency$118,775 $47,675 $6,332 $25,610 N/A N/A N/A N/A N/A N/A N/A N/A % of Revenue 73.5% 29.5% 3.9% 15.9% 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 previously disclosed 2024 restructuring plan and the previously disclosed 2023 restructuring plan. (3) Non-recurring 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 Predecessor Period from Period from Six Months Ended June 25, 2025 December 29, 2024 June 30, 2026 through June 30, 2025 through June 24, 2025 Selling, Selling, Selling, Product General, and Product General, and Product General, and Gross Marketing Development AdministrativeGross Marketing Development Administrative Gross Marketing Development Administrative Profit Expenses Expenses Expenses Profit Expenses Expenses Expenses Profit Expenses Expenses Expenses GAAP$232,815 $140,809 $14,534 $98,436 $8,909 $2,784 $686 $2,853 $263,384 $110,871 $25,281 $78,480 % of Revenue 70.4% 42.6% 4.4% 29.8% 73.2% 22.9% 5.6% 23.4% 72.4% 30.5% 7.0% 21.6% Adjustments: Transaction Costs (1)$— $— $— $— $— $— $— $(182) $— $— $— $(20,873) Depreciation and Amortization Expenses 10,512 — — (41,290) 330 — (4) (1,347) 8,650 — (115) (5,440) Restructuring Charges (2) (65) — — (377) — — — — (2,455) — — (2,333) Share-based Compensation Expense 0 (301) (218) (899) — — — — — — — (4,032) Executive Related One-Time Costs (3) — — — (5,362) — — — — — — — — Total Adjustments$10,447 $(301) $(218) $(47,928) $330 $— $(4) $(1,529) $6,195 $— $(115) $(32,677) Adjusted$243,262 $140,508 $14,316 $50,508 $9,239 $2,784 $682 $1,324 $269,579 $110,871 $25,166 $45,803 % of Revenue 73.6% 42.5% 4.3% 15.3% 75.9% 22.9% 5.6% 10.9% 74.1% 30.5% 6.9% 12.6% Currency Adjustment (4,389) (1,028) (10) (312) N/A N/A N/A N/A N/A N/A N/A N/A Constant Currency$228,426 $139,781 $14,524 $98,124 N/A N/A N/A N/A N/A N/A N/A N/A % of Revenue 70.2% 42.9% 4.5% 30.1% N/A N/A N/A N/A N/A N/A N/A N/A Adjusted Constant Currency$238,874 $139,480 $14,305 $50,196 N/A N/A N/A N/A N/A N/A N/A N/A % of Revenue 73.4% 42.8% 4.4% 15.4% 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 previously disclosed 2024 restructuring plan and the previously disclosed 2023 restructuring plan. (3) Non-recurring 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 Predecessor Three Months Ended
June 30, 2026
Six Months Ended
June 30, 2026
Period from
June 25, 2025
through June 30, 2025
Period from
March 30, 2025
through June 24, 2025
Period from
December 29, 2024
through June 24, 2025
Net Income (Loss)$14,074 $(37,926) $1,254 $1,190,688 $1,118,103 Net Income (Loss) Margin 8.7% (11.5%) 10.3% 672.7% 307.5% Interest 11,588 23,064 923 11,061 38,664 Taxes (11,155) (332) (523) (20,906) 1,669 Depreciation and Amortization Expenses 25,916 51,802 1,681 7,287 14,201 Share-based Compensation Expense 732 1,418 — 3,173 4,032 EBITDA$41,155 $38,026 $3,335 $1,191,303 $1,176,669 EBITDA Margin 25.4% 11.5% 27.4% 673.1% 323.6% Franchise Rights Acquired Impairments (1) — — — — 27,549 Reorganization Items, net (2) — — — (1,143,918) (1,143,918)Gain on Extinguishment of Debt (3) (4,612) (4,612) — — — Transaction Costs (4) — — 182 10,049 20,873 Restructuring Charges (5) (156) 313 — (1,094) (122)Executive Related One-Time Costs (6) 3,798 5,362 — — — Other (7) (421) (1,158) 932 4,478 6,685 Adjusted EBITDA$39,764 $37,931 $4,449 $60,818 $87,736 Adjusted EBITDA Margin 24.5% 11.5% 36.6% 34.4% 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 start valuation 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 previously disclosed 2024 restructuring plan and the previously disclosed 2023 restructuring plan.(6) Non-recurring expenses in connection with the management of certain executive matters.(7) Primarily consists of the impact of foreign exchange gains and losses.