WW International (WW), the weight-loss program operator, said it expects to end 2023 with total subscribers approaching 3.6 million, including 3.5 million WeightWatchers subscribers.
CEO Sima Sistani told investors that increasing subscribers is a “notable achievement” as the last time the company ended a year with flat or higher subscribers year-over-year was in 2020.
During its fiscal 1Q ended April 1, 2023, the New York-based firm reported a better-than-expected quarterly loss of $0.14 per share, compared to the consensus estimates of a loss of $0.37.
The company also exceeded revenue expectations, posting revenues of $241.9 million for the quarter, surpassing the Zacks Consensus Estimate by 2.6%.
WW International has exceeded consensus EPS estimates for four consecutive quarters, but revenues have fallen when compared to the same period last year, with year-ago revenues of $297.76 million.
Revenues are expected to be in the range of $910.0 million to $930.0 million for the full 2023 fiscal year.
“The 1Q outperformance in subscribers translated into above forecast revenue, and combined with greater cost discipline, flowed into adjusted operating income results ahead of our expectations,” said Heather Stark, WW International’s new CFO.
“We expect performance trends to improve through the year as we benefit from our data-informed approach to member acquisition, increased operating efficiency, and an enhanced member experience following upcoming launches in our product roadmap.”
Shares of WW International gained 1.7% on Friday morning in New York.
Contact Angela at angela@proactiveinvestors.com
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