-- End of Period Subscribers in Q3 2019 of 4.4 million -- Revenues in Q3 2019 of $349 million -- Q3 2019 EPS of $0.68 -- Raising FY 2019 EPS guidance to a range of $1.63 to $1.75

NEW YORK, Nov. 05, 2019 (GLOBE NEWSWIRE) -- WW International, Inc. (NASDAQ: WW) today announced its results for the third quarter of fiscal 2019 and raised its full year fiscal 2019 EPS guidance.

“As our strong marketing execution successfully recruited new members and retention continued to increase, we outperformed our expectations for subscriber growth, resulting in our highest-ever end of period subscribers in a third quarter,” said Mindy Grossman, the Company’s President and CEO. “Next week, we will be launching our new program – our most customized yet – which we believe will have broad appeal among current, returning, and first-time members. The new program, paired with our overall marketing strategy and community activations, including WW Presents Oprah’s 2020 Vision: Your Life in Focus tour, will serve as a strong foundation to accelerate subscriber growth in 2020 and deliver value to our members, employees and shareholders.”

“Subscriber growth gained momentum in the third quarter, with end of period subscribers increasing 6% year-over-year to 4.4 million,” said Nick Hotchkin, the Company’s CFO, Operating Officer, North America and President, Emerging Markets. “We are raising our earnings guidance for the full year to a range of $1.63 to $1.75 per fully diluted share, reflecting the continuation of improving trends across the business.”

Q3 2019 Consolidated Results

Three Months Ended % Change ---------------------------- Adjusted September 28, September 29, for % Change Constant 2019 2018 Currency (1) ------------- ------------- -------- -------- (in millions except percentages and per share amounts) Service Revenues, net $298.0 $312.0 (4.5 %) (3.0 %) Product Sales and Other, net 50.5 53.8 (6.1 %) (4.6 %) ------------- ------------- Revenues, net $348.6 $365.8 (4.7 %) (3.3 %) Operating Income $94.7 $118.9 (20.3 %) (18.8 %) Net Income* $47.1 $70.1 (32.9 %) (31.2 %) EPS $0.68 $1.00 (32.2 %) (30.4 %) 58.6 56.5 3.7 % N/A Total Paid Weeks Digital(2) Paid Weeks 40.3 36.4 10.8 % N/A Studio + Digital(3) Paid Weeks 18.3 20.1 (9.1 %) N/A End of Period Subscribers(4) 4.4 4.2 5.7 % N/A Digital Subscribers 3.1 2.7 12.5 % N/A Studio + Digital Subscribers 1.3 1.4 (7.3 %) N/A ——————————————————————————————————— Note: Totals may not sum due to rounding. (1) See “Reconciliation of Non-GAAP Financial Measures” attached to this release for further detail on adjustments to GAAP financial measures. (2) “Digital” refers to providing subscriptions to the Company’s digital product offerings, including the Personal Coaching + Digital product. (3) “Studio + Digital” refers to providing access to the Company’s weekly in-person workshops combined with the Company’s digital subscription product offerings to commitment plan subscribers. The “Studio + Digital” business also includes the provision of access to workshops for members who do not subscribe to commitment plans, including the Company’s “pay-as-you-go” members. (4) “Subscribers” refers to Digital subscribers and Studio + Digital subscribers who participate in recur bill programs in Company-owned operations. *Except in the case of the financials attached to this release, “Net Income” refers to Net Income attributable to WW International, Inc.

Q3 2019 Business and Financial Highlights

-- End of Period Subscribers in Q3 2019 were up 5.7% versus the prior year period. Q3 2019 End of Period Digital Subscribers were up 12.5% and End of Period Studio + Digital Subscribers were down 7.3% versus the prior year period. -- Total Paid Weeks in Q3 2019 were up 3.7% versus the prior year period. Q3 2019 Digital Paid Weeks increased 10.8% and Studio + Digital Paid Weeks decreased 9.1% versus the prior year period. -- Revenuesin Q3 2019 were $348.6 million. On a constant currency basis, Q3 2019 revenues decreased 3.3% versus the prior year period. - Service Revenues in Q3 2019 were $298.0 million. On a constant currency basis, these revenues decreased 3.0% versus the prior year period, primarily driven by Studio + Digital member recruitment declines. - Product Sales and Otherin Q3 2019 were $50.5 million. On a constant currency basis, these revenues decreased 4.6% versus the prior year period, primarily due to a decline in product sales. -- Operating Incomein Q3 2019 was $94.7 million compared to $118.9 million in the prior year period. This decrease in operating income was primarily driven by operating deleverage on lower revenues in the quarter versus the prior year period. -- Effective Tax Ratein Q3 2019 was 21.8% compared to 15.0% in the prior year period. -- Net Incomein Q3 2019 was $47.1 million compared to $70.1 million in the prior year period. -- Earnings per fully diluted share (EPS)in Q3 2019 was $0.68 compared to $1.00 in the prior year period. - Certain items affect year-over-year comparability. - Q3 2018 results benefited from the reversal of certain tax reserves, the impact of which positively impacted EPS by $0.06 per fully diluted share.

Other Items

-- Cashbalance as of September 28, 2019 was $239.2 million. On that same date, the Company had no outstanding borrowings under its $150 million revolving credit facility. -- Debt Prepayment:As previously disclosed, subsequent to the end of Q3 2019, the Company voluntarily prepaid $50.0 million in aggregate principal amount of term loans outstanding under its credit agreement.

Full Year Fiscal 2019 Guidance

The Company is reiterating its full year fiscal 2019 revenue guidance of at least $1.4 billion and raising its earnings guidance to between $1.63 and $1.75 per fully diluted share.

Third Quarter 2019 Conference Call and Webcast

The Company has scheduled a conference call today at 5:00 p.m. ET. During the conference call, Mindy Grossman, President and Chief Executive Officer, and Nicholas Hotchkin, Chief Financial Officer, Operating Officer, North America & President, Emerging Markets, will discuss the third quarter of fiscal 2019 results and answer questions from the investment community.

The live webcast of the conference call will be available on the Company’s corporate website, corporate.ww.com, in the Investors section under Presentations and Events. Supplemental investor materials will also be available in the same location prior to the start of the webcast. A replay of the webcast will be available on this site for approximately 90 days.

Statement regarding Non-GAAP Financial MeasuresThe following provides information regarding non-GAAP financial measures used in this earnings release and today’s scheduled conference call:

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 the attachments to this release the non-GAAP financial measure earnings before interest, taxes, depreciation, amortization and stock-based compensation (“EBITDAS”). In addition, the Company presents certain of its financial results on a constant currency basis in addition to GAAP results. Constant currency information compares results between periods as if exchange rates had remained constant period-over-period. In this release and any attachments, the Company calculates constant currency by calculating current-year results using prior-year foreign currency exchange rates.

Management believes these non-GAAP financial measures provide useful supplemental information for its and investors' evaluation of the Company's business performance and are useful for period-over-period comparisons of the performance of the Company's business. While management 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 should not 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 entitled measures reported by other companies. See "Reconciliation of Non-GAAP Financial Measures" attached to 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 EBITDAS 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.

About WW International, Inc.WW – Weight Watchers reimagined – is a global wellness company and the world's leading commercial weight management program. We inspire millions of people to adopt healthy habits for real life. Through our engaging digital experience and face-to-face group workshops, members follow our livable and sustainable program that encompasses healthy eating, physical activity, and a helpful mindset. With more than five decades of experience in building communities and our deep expertise in behavioral science, we aim to deliver wellness for all. To learn more about the WW approach to healthy living, please visit ww.com. For more information about our global business, visit our corporate website at corporate.ww.com.

This news release and any attachments include “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, revenue and earnings guidance and any statements about the Company’s plans, strategies and prospects. The Company generally uses the words “may,” “will,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend” and similar expressions in this news release and any attachments 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: competition from other weight management and wellness industry participants or the development of more effective or more favorably perceived weight management methods; 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 the Company’s ability to successfully expand into new channels of distribution or respond to consumer trends; the ability to successfully implement new strategic initiatives; the effectiveness of the Company’s advertising and marketing programs, including the strength of its social media presence; the impact on the Company’s reputation of actions taken by its franchisees, licensees, suppliers and other partners; the impact of the Company’s substantial amount of debt and its debt service obligations and debt covenants; 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 security breaches or privacy concerns; 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 inability to renew certain of the Company’s licenses, or the inability to do so on terms that are favorable to the Company; the expiration or early termination by the Company of leases; risks and uncertainties associated with the Company’s international operations, including regulatory, economic, political and social risks and foreign currency risks; uncertainties related to a downturn in general economic conditions or consumer confidence; the Company’s ability to successfully make acquisitions or enter into joint ventures, including its ability to successfully integrate, operate or realize the anticipated benefits of such businesses; the seasonal nature of the Company’s business; the impact of events that discourage or impede people from gathering with others or accessing resources; 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 outcomes of litigation or regulatory actions; the impact of existing and future laws and regulations; the Company’s failure to maintain effective internal control over financial reporting; the possibility that the interests of Artal Group S.A., the largest holder of the Company’s common stock and a shareholder with significant influence over the Company, will conflict with the Company’s interests or the interests of other holders of the Company’s common stock; the impact that the sale of substantial amounts of the Company’s common stock by existing large shareholders, or the perception that such sales could occur, could have on the market price of the Company’s common stock; and other risks and uncertainties, including those detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission. 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 news release or to reflect the occurrence of unanticipated events or otherwise. Readers are advised to review the Company’s filings with the United States Securities and Exchange Commission (which are available on the SEC’s EDGAR database at www.sec.gov and via the Company’s website at corporate.ww.com).

WW INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) UNAUDITED September 28, December 29, 2019 2018 - --------- - - --------- - ASSETS Cash and cash equivalents $ 239,162 $ 236,974 Other current assets 90,728 129,450 - --------- - - --------- - TOTAL CURRENT ASSETS 329,890 366,424 Property and equipment, net 49,900 52,202 Operating lease assets 146,063 - Goodwill, franchise rights and other intangible assets, net 963,216 960,815 Other assets 27,374 35,100 TOTAL ASSETS $ 1,516,443 $ 1,414,541 - --------- - - --------- - LIABILITIES AND TOTAL DEFICIT Portion of long-term debt due within one year $ 77,000 $ 77,000 Portion of operating lease liabilities due within one year 32,372 - Other current liabilities 256,414 264,316 - --------- - - --------- - TOTAL CURRENT LIABILITIES 365,786 341,316 Long-term debt 1,566,692 1,669,708 Long-term operating lease liabilities 123,541 - Deferred income taxes, other 180,365 208,547 TOTAL LIABILITIES $ 2,236,384 $ 2,219,571 - --------- - - --------- - Redeemable noncontrolling interest 3,661 3,913 Shareholders' deficit (723,602 ) (808,943 ) - --------- - - --------- - TOTAL LIABILITIES AND TOTAL DEFICIT $ 1,516,443 $ 1,414,541 - --------- - - --------- -

WW INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF NET INCOME (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) UNAUDITED Three Months Ended ----------------------------------------- September 28, September 29, 2019 2018 - ------- --- - ------- ---------------- Service revenues, net (1) $ 298,041 $ 311,963 Product sales and other, net (2) 50,526 53,802 - ------- --- - ------- ---------------- Revenues, net 348,567 365,765 - ------- --- - ------- ---------------- Cost of services (3) 122,374 122,357 Cost of product sales and other 31,424 28,014 - ------- --- - ------- ---------------- Cost of revenues 153,798 150,371 - ------- --- - ------- ---------------- Gross profit 194,769 215,394 Marketing expenses 36,327 35,515 Selling, general and administrative expenses 63,713 61,019 - ------- --- - ------- ---------------- Operating income 94,729 118,860 Interest expense 33,118 35,506 Other expense, net 1,460 881 - ------- --- - ------- ---------------- Income before income taxes 60,151 82,473 Provision for income taxes 13,123 12,374 - ------- --- - ------- ---------------- Net income 47,028 70,099 Net loss attributable to the noncontrolling 58 33 interest - ------- --- - ------- ---------------- Net income attributable to WW International, Inc. $ 47,086 $ 70,132 - ------- --- - ------- ---------------- Earnings Per Share attributable to WW International, Inc. Basic $ 0.70 $ 1.05 - ------- --- - ------- ---------------- Diluted $ 0.68 $ 1.00 - ------- --- - ------- ---------------- Weighted average common shares outstanding: Basic 67,298 66,701 - ------- --- - ------- ---------------- Diluted 69,617 70,331 - ------- --- - ------- ---------------- —————— Note: Totals may not sum due to rounding. (1) Consists of net “Digital Subscription Revenues” and net “Studio + Digital Fees”. “Digital Subscription Revenues” consist of the fees associated with subscriptions for the Company’s Digital offerings, including the Personal Coaching + Digital product. “Studio + Digital Fees” consist of the fees associated with the Company's subscription plans for combined workshops and digital offerings and other payment arrangements for access to workshops. (2) Consists of sales of consumer products in workshops and via e-commerce, revenues from licensing, magazine subscriptions, publishing and third-party advertising in publications and on the Company's websites and sales from the By Mail product, other revenues, and franchise fees with respect to commitment plans and commissions. (3) Consists of cost of revenues and operating expenses for the Company's Digital and Studio + Digital services.

WW INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF NET INCOME (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) UNAUDITED Nine Months Ended ----------------------------------------- September 28, September 29, 2019 2018 - --------- - - --------- -------------- Service revenues, net (1) $ 918,535 $ 984,362 Product sales and other, net (2) 162,219 199,373 - --------- - - --------- -------------- Revenues, net 1,080,754 1,183,735 - --------- - - --------- -------------- Cost of services (3) 373,452 390,296 Cost of product sales and other 95,771 112,250 - --------- - - --------- -------------- Cost of revenues 469,223 502,546 - --------- - - --------- -------------- Gross profit 611,531 681,189 Marketing expenses 200,543 189,855 Selling, general and administrative expenses 188,889 182,696 - --------- - - --------- -------------- Operating income 222,099 308,638 Interest expense 103,045 107,238 Other expense, net 2,201 1,978 - --------- - - --------- -------------- Income before income taxes 116,853 199,422 Provision for income taxes 26,834 19,580 - --------- - - --------- -------------- Net income 90,019 179,842 Net loss attributable to the noncontrolling 214 122 interest - --------- - - --------- -------------- Net income attributable to WW International, Inc. $ 90,233 $ 179,964 - --------- - - --------- -------------- Earnings Per Share attributable to WW International, Inc. Basic $ 1.34 $ 2.72 - --------- - - --------- -------------- Diluted $ 1.30 $ 2.57 - --------- - - --------- -------------- Weighted average common shares outstanding: Basic 67,129 66,074 - --------- - - --------- -------------- Diluted 69,364 70,117 - --------- - - --------- -------------- —————— Note: Totals may not sum due to rounding. (1) Consists of net “Digital Subscription Revenues” and net “Studio + Digital Fees”. “Digital Subscription Revenues” consist of the fees associated with subscriptions for the Company’s Digital offerings, including the Personal Coaching + Digital product. “Studio + Digital Fees” consist of the fees associated with the Company's subscription plans for combined workshops and digital offerings and other payment arrangements for access to workshops. (2) Consists of sales of consumer products in workshops and via e-commerce, revenues from licensing, magazine subscriptions, publishing and third-party advertising in publications and on the Company's websites and sales from the By Mail product, other revenues, and franchise fees with respect to commitment plans and commissions. (3) Consists of cost of revenues and operating expenses for the Company's Digital and Studio + Digital services.

WW INTERNATIONAL, INC. AND SUBSIDIARIES OPERATIONAL STATISTICS (IN THOUSANDS, EXCEPT PERCENTAGES) UNAUDITED Three Months Ended ------------------------------ September 28, September 29, 2019 2018 Variance ------------- ------------- -------- Digital Paid Weeks(1) North America 25,484 23,749 7.3 % CE 11,526 9,730 18.5 % UK 2,540 2,222 14.3 % Other (2) 797 719 10.9 % ----- -- Total Digital Paid Weeks 40,348 36,420 10.8 % Studio + Digital Paid Weeks (1) North America 12,465 13,898 (10.3 %) CE 2,701 2,915 (7.3 %) UK 2,571 2,685 (4.2 %) Other (2) 539 602 (10.5 %) ----- -- Total Studio + Digital Paid Weeks 18,276 20,099 (9.1 %) Total Paid Weeks(1) North America 37,949 37,647 0.8 % CE 14,226 12,644 12.5 % UK 5,112 4,907 4.2 % Other (2) 1,336 1,321 1.1 % ----- -- Total Paid Weeks 58,623 56,519 3.7 % End of Period Digital Subscribers (3) North America 1,947 1,767 10.2 % CE 878 753 16.7 % UK 198 166 19.0 % Other (2) 61 56 9.6 % ----- -- Total End of Period Digital Subscribers 3,085 2,742 12.5 % End of Period Studio + Digital Subscribers (3) North America 905 985 (8.1 %) CE 209 224 (7.1 %) UK 187 193 (2.9 %) Other (2) 42 46 (9.6 %) ----- -- Total End of Period Studio + Digital Subscribers 1,343 1,449 (7.3 %) Total End of Period Subscribers (3) North America 2,852 2,751 3.7 % CE 1,087 977 11.2 % UK 385 359 7.2 % Other (2) 103 102 0.9 % ----- -- Total End of Period Subscribers 4,428 4,191 5.7 % —————— Note: Totals may not sum due to rounding. (1) The “Paid Weeks” metric reports paid weeks by WW customers in Company-owned operations for a given period as follows: (i) “Digital Paid Weeks” is the total paid subscription weeks for the Company’s digital subscription products (including Personal Coaching + Digital); (ii) “Studio + Digital Paid Weeks” is the sum of total paid commitment plan weeks which include workshops and digital offerings and total “pay-as-you-go” weeks; and (iii) “Total Paid Weeks” is the sum of Digital Paid Weeks and Studio + Digital Paid Weeks. (2) Represents Australia, New Zealand and emerging markets. (3) The “End of Period Subscribers” metric reports WW subscribers in Company-owned operations at a given period end as follows: (i) “End of Period Digital Subscribers” is the total number of Digital, including Personal Coaching + Digital, subscribers; (ii) “End of Period Studio + Digital Subscribers” is the total number of commitment plan subscribers that have access to combined workshops and digital offerings; and (iii) “End of Period Subscribers” is the sum of End of Period Digital Subscribers and End of Period Studio + Digital Subscribers.

WW INTERNATIONAL, INC. AND SUBSIDIARIES OPERATIONAL STATISTICS (IN THOUSANDS, EXCEPT PERCENTAGES) UNAUDITED Nine Months Ended ------------------------------ September 28, September 29, 2019 2018 Variance ------------- ------------- -------- Digital Paid Weeks(1) North America 76,119 71,731 6.1 % CE 34,672 29,208 18.7 % UK 7,512 6,832 10.0 % Other (2) 2,363 2,170 8.9 % ----- -- Total Digital Paid Weeks 120,666 109,941 9.8 % Studio + Digital Paid Weeks (1) North America 38,843 44,123 (12.0 %) CE 8,919 9,696 (8.0 %) UK 7,959 8,380 (5.0 %) Other (2) 1,744 1,899 (8.2 %) ----- -- Total Studio + Digital Paid Weeks 57,465 64,098 (10.3 %) Total Paid Weeks(1) North America 114,962 115,854 (0.8 %) CE 43,591 38,903 12.0 % UK 15,471 15,212 1.7 % Other (2) 4,107 4,069 0.9 % ----- -- Total Paid Weeks 178,131 174,039 2.4 % End of Period Digital Subscribers (3) North America 1,947 1,767 10.2 % CE 878 753 16.7 % UK 198 166 19.0 % Other (2) 61 56 9.6 % ------------- ------------- ----- -- Total End of Period Digital Subscribers 3,085 2,742 12.5 % End of Period Studio + Digital Subscribers (3) North America 905 985 (8.1 %) CE 209 224 (7.1 %) UK 187 193 (2.9 %) Other (2) 42 46 (9.6 %) ------------- ------------- ----- -- Total End of Period Studio + Digital Subscribers 1,343 1,449 (7.3 %) Total End of Period Subscribers (3) North America 2,852 2,751 3.7 % CE 1,087 977 11.2 % UK 385 359 7.2 % Other (2) 103 102 0.9 % ------------- ------------- ----- -- Total End of Period Subscribers 4,428 4,191 5.7 % —————— Note: Totals may not sum due to rounding. (1) The “Paid Weeks” metric reports paid weeks by WW customers in Company-owned operations for a given period as follows: (i) “Digital Paid Weeks” is the total paid subscription weeks for the Company’s digital subscription products (including Personal Coaching + Digital); (ii) “Studio + Digital Paid Weeks” is the sum of total paid commitment plan weeks which include workshops and digital offerings and total “pay-as-you-go” weeks; and (iii) “Total Paid Weeks” is the sum of Digital Paid Weeks and Studio + Digital Paid Weeks. (2) Represents Australia, New Zealand and emerging markets. (3) The “End of Period Subscribers” metric reports WW subscribers in Company-owned operations at a given period end as follows: (i) “End of Period Digital Subscribers” is the total number of Digital, including Personal Coaching + Digital, subscribers; (ii) “End of Period Studio + Digital Subscribers” is the total number of commitment plan subscribers that have access to combined workshops and digital offerings; and (iii) “End of Period Subscribers” is the sum of End of Period Digital Subscribers and End of Period Studio + Digital Subscribers.

WW INTERNATIONAL, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (IN THOUSANDS, EXCEPT PERCENTAGES) UNAUDITED Q3 2019 Variance ------------------ 2019 Constant Q3 2019 Q3 2018 2019 Currency ---------------------------------- ---------- Currency Constant vs vs GAAP Adjustment Currency GAAP 2018 2018 ---------- ---------- ---------- ---------- -------- -------- Selected Financial Data Consolidated Company Revenues $ 348,567 $ 5,283 $ 353,849 $ 365,765 (4.7 %) (3.3 %) Consolidated Digital Subscription Revenues $ 153,940 $ 2,629 $ 156,569 $ 143,299 7.4 % 9.3 % (1) Consolidated Studio + Digital Fees (2) $ 144,101 $ 1,847 $ 145,948 $ 168,664 (14.6 %) (13.5 %) Consolidated Service Revenues (3) $ 298,041 $ 4,476 $ 302,516 $ 311,963 (4.5 %) (3.0 %) Consolidated Product Sales and Other (4) $ 50,526 $ 807 $ 51,333 $ 53,802 (6.1 %) (4.6 %) North America Digital Subscription Revenues (1) $ 101,579 $ 74 $ 101,653 $ 95,664 6.2 % 6.3 % Studio + Digital Fees (2) $ 108,338 $ 73 $ 108,411 $ 125,282 (13.5 %) (13.5 %) Service Revenues (3) $ 209,917 $ 147 $ 210,064 $ 220,946 (5.0 %) (4.9 %) Product Sales and Other (4) $ 33,767 $ 18 $ 33,785 $ 34,335 (1.7 %) (1.6 %) Total Revenues $ 243,684 $ 165 $ 243,849 $ 255,281 (4.5 %) (4.5 %) CE Digital Subscription Revenues (1) $ 42,230 $ 1,961 $ 44,191 $ 37,928 11.3 % 16.5 % Studio + Digital Fees (2) $ 20,644 $ 932 $ 21,576 $ 25,441 (18.9 %) (15.2 %) Service Revenues (3) $ 62,874 $ 2,893 $ 65,767 $ 63,369 (0.8 %) 3.8 % Product Sales and Other (4) $ 8,264 $ 386 $ 8,650 $ 9,025 (8.4 %) (4.2 %) Total Revenues $ 71,138 $ 3,279 $ 74,417 $ 72,394 (1.7 %) 2.8 % UK Digital Subscription Revenues (1) $ 6,608 $ 379 $ 6,987 $ 6,282 5.2 % 11.2 % Studio + Digital Fees (2) $ 10,733 $ 615 $ 11,348 $ 12,619 (14.9 %) (10.1 %) Service Revenues (3) $ 17,341 $ 993 $ 18,334 $ 18,901 (8.3 %) (3.0 %) Product Sales and Other (4) $ 5,592 $ 321 $ 5,913 $ 6,455 (13.4 %) (8.4 %) Total Revenues $ 22,933 $ 1,314 $ 24,247 $ 25,356 (9.6 %) (4.4 %) Other (5) Digital Subscription Revenues (1) $ 3,523 $ 215 $ 3,738 $ 3,425 2.9 % 9.1 % Studio + Digital Fees (2) $ 4,386 $ 228 $ 4,614 $ 5,322 (17.6 %) (13.3 %) Service Revenues (3) $ 7,909 $ 442 $ 8,351 $ 8,747 (9.6 %) (4.5 %) Product Sales and Other (4) $ 2,903 $ 81 $ 2,984 $ 3,987 (27.1 %) (25.1 %) Total Revenues $ 10,812 $ 523 $ 11,335 $ 12,734 (15.1 %) (11.0 %) —————— Note: Totals may not sum due to rounding. (1) “Digital Subscription Revenues” consist of the fees associated with subscriptions for the Company’s Digital offerings, including the Personal Coaching + Digital product. (2) “Studio + Digital Fees” consist of the fees associated with the Company's subscription plans for combined workshops and digital offerings and other payment arrangements for access to workshops. (3) “Service Revenues” equal “Digital Subscription Revenues" plus “Studio + Digital Fees”. (4) “Product Sales” are sales of consumer products in workshops and via e-commerce, and “Other” are revenues from licensing, magazine subscriptions, publishing and third-party advertising in publications and on the Company's websites and sales from the By Mail product, other revenues, and, in the case of the consolidated financial results and Other reportable segment, includes franchise fees with respect to commitment plans and commissions. (5) Represents Australia, New Zealand, emerging markets and franchise revenues.

WW INTERNATIONAL, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (IN THOUSANDS, EXCEPT PERCENTAGES) UNAUDITED YTD 2019 Variance ------------------ 2019 Constant YTD 2019 YTD 2018 2019 Currency ------------------------------------- ------------ Currency Constant vs vs GAAP Adjustment Currency GAAP 2018 2018 ------------ ---------- ------------ ------------ -------- -------- Selected Financial Data Consolidated Company Revenues $ 1,080,754 $ 22,991 $ 1,103,745 $ 1,183,735 (8.7 %) (6.8 %) Consolidated Digital Subscription $ 459,764 $ 10,887 $ 470,651 $ 432,863 6.2 % 8.7 % Revenues (1) Consolidated Studio + Digital Fees $ 458,771 $ 8,336 $ 467,107 $ 551,499 (16.8 %) (15.3 %) (2) Consolidated Service Revenues (3) $ 918,535 $ 19,223 $ 937,758 $ 984,362 (6.7 %) (4.7 %) Consolidated Product Sales and Other $ 162,219 $ 3,768 $ 165,987 $ 199,373 (18.6 %) (16.7 %) (4) North America Digital Subscription Revenues (1) $ 303,190 $ 679 $ 303,869 $ 289,002 4.9 % 5.1 % Studio + Digital Fees (2) $ 342,896 $ 736 $ 343,632 $ 408,200 (16.0 %) (15.8 %) Service Revenues (3) $ 646,086 $ 1,415 $ 647,501 $ 697,202 (7.3 %) (7.1 %) Product Sales and Other (4) $ 103,255 $ 196 $ 103,451 $ 121,805 (15.2 %) (15.1 %) Total Revenues $ 749,341 $ 1,611 $ 750,952 $ 819,007 (8.5 %) (8.3 %) CE Digital Subscription Revenues (1) $ 125,999 $ 8,107 $ 134,106 $ 113,431 11.1 % 18.2 % Studio + Digital Fees (2) $ 68,274 $ 4,408 $ 72,682 $ 83,923 (18.6 %) (13.4 %) Service Revenues (3) $ 194,273 $ 12,515 $ 206,788 $ 197,354 (1.6 %) 4.8 % Product Sales and Other (4) $ 30,350 $ 2,020 $ 32,370 $ 39,164 (22.5 %) (17.3 %) Total Revenues $ 224,623 $ 14,535 $ 239,158 $ 236,518 (5.0 %) 1.1 % UK Digital Subscription Revenues (1) $ 20,019 $ 1,222 $ 21,241 $ 19,800 1.1 % 7.3 % Studio + Digital Fees (2) $ 33,493 $ 2,057 $ 35,550 $ 41,552 (19.4 %) (14.4 %) Service Revenues (3) $ 53,512 $ 3,279 $ 56,791 $ 61,352 (12.8 %) (7.4 %) Product Sales and Other (4) $ 18,556 $ 1,143 $ 19,699 $ 23,498 (21.0 %) (16.2 %) Total Revenues $ 72,068 $ 4,422 $ 76,490 $ 84,850 (15.1 %) (9.9 %) Other (5) Digital Subscription Revenues (1) $ 10,556 $ 878 $ 11,434 $ 10,630 (0.7 %) 7.6 % Studio + Digital Fees (2) $ 14,108 $ 1,135 $ 15,243 $ 17,824 (20.8 %) (14.5 %) Service Revenues (3) $ 24,664 $ 2,013 $ 26,677 $ 28,454 (13.3 %) (6.2 %) Product Sales and Other (4) $ 10,058 $ 403 $ 10,461 $ 14,906 (32.5 %) (29.8 %) Total Revenues $ 34,722 $ 2,417 $ 37,139 $ 43,360 (19.9 %) (14.3 %) —————— Note: Totals may not sum due to rounding. (1) “Digital Subscription Revenues” consist of the fees associated with subscriptions for the Company’s Digital offerings, including the Personal Coaching + Digital product. (2) “Studio + Digital Fees” consist of the fees associated with the Company's subscription plans for combined workshops and digital offerings and other payment arrangements for access to workshops. (3) “Service Revenues” equal “Digital Subscription Revenues" plus “Studio + Digital Fees”. (4) “Product Sales” are sales of consumer products in workshops and via e-commerce, and “Other” are revenues from licensing, magazine subscriptions, publishing and third-party advertising in publications and on the Company's websites and sales from the By Mail product, other revenues, and, in the case of the consolidated financial results and Other reportable segment, includes franchise fees with respect to commitment plans and commissions. (5) Represents Australia, New Zealand, emerging markets and franchise revenues.

WW INTERNATIONAL, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (IN THOUSANDS, EXCEPT PERCENTAGES) UNAUDITED Q3 2019 Variance ------------------- 2019 Constant Q3 2019 Q3 2018 2019 Currency ------------------------------------ ----------- Currency Constant vs vs GAAP Adjustment Currency GAAP 2018 2018 ----------- ---------- ----------- ----------- -------- -------- Selected Financial Data Gross Profit $ 194,769 $ 3,143 $ 197,912 $ 215,394 (9.6 %) (8.1 %) Gross Margin 55.9 % 55.9 % 58.9 % Selling, General and Administrative $ 63,713 $ 769 $ 64,482 $ 61,019 4.4 % 5.7 % Expenses Operating Income $ 94,729 $ 1,738 $ 96,467 $ 118,860 (20.3 %) (18.8 %) Operating Income Margin 27.2 % 27.3 % 32.5 % —————— Note: Totals may not sum due to rounding.

WW INTERNATIONAL, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (IN THOUSANDS, EXCEPT PERCENTAGES) UNAUDITED YTD 2019 Variance ------------------ 2019 Constant YTD 2019 YTD 2018 2019 Currency ------------------------------------ ----------- Currency Constant vs vs GAAP Adjustment Currency GAAP 2018 2018 ----------- ---------- ----------- ----------- -------- -------- Selected Financial Data Gross Profit $ 611,531 $ 13,707 $ 625,238 $ 681,189 (10.2 %) (8.2 %) Gross Margin 56.6 % 56.6 % 57.5 % Selling, General and Administrative $ 188,889 $ 3,111 $ 192,000 $ 182,696 3.4 % 5.1 % Expenses Operating Income $ 222,099 $ 4,971 $ 227,070 $ 308,638 (28.0 %) (26.4 %) Operating Income Margin 20.6 % 20.6 % 26.1 % —————— Note: Totals may not sum due to rounding.

WW INTERNATIONAL, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (IN THOUSANDS) UNAUDITED Three Months Ended Nine Months Ended ---------------------------- ---------------------------- September 28, September 29, September 28, September 29, 2019 2018 2019 2018 - ------- --- - ------- --- - ------- --- - ------- --- Net Income $ 47,086 $ 70,132 $ 90,233 $ 179,964 Interest 33,118 35,506 103,045 107,238 Taxes 13,123 12,374 26,834 19,580 Depreciation and Amortization 10,850 10,820 33,543 32,594 Stock-based Compensation 5,243 5,671 14,927 15,346 EBITDAS $ 109,420 $ 134,503 $ 268,582 $ 354,722 - ------- --- - ------- --- - ------- --- - ------- --- —————— Note: Totals may not sum due to rounding.

For more information, contact:Investors:Corey KingerVP Investor Relations212.601.7569 corey.kinger@ww.com

Media:Nicole PennVP Corporate Communications212.817.4341 nicole.penn@ww.com

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