WW International, Inc. (NASDAQ:WW) Q3 2023 Earnings Conference Call November 2, 2023 5:30 PM ET

Company Participants

Corey Kinger - Investor Relations

Sima Sistani - Chief Executive Officer

Heather Stark - Chief Financial Officer

Conference Call Participants

Jason English - Goldman Sachs

Nathan Feather - Morgan Stanley

Linda Bolton Weiser - D.A. Davidson

Alex Fuhrman - Craig-Hallum Capital Group

Henry Carr - UBS

Operator

Good day, and welcome to the WW International, Inc. Third Quarter 2023 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to Corey Kinger of Investor Relations. Please go ahead.

Corey Kinger

Thank you, everyone for joining us today for WW International's Third Quarter 2023 conference call. At about 04:00 P.M. Eastern Time today, we issued a press release reporting our third quarter 2023 results. The purpose of this call is to provide investors with some further details regarding the company's financial results, as well as to provide a general update on the company's progress. The press release is available on the company's corporate website located at corporate.ww.com. Supplemental investor materials are also available on the company's corporate website in the Investors section under Presentations and Events. Reconciliations of non-GAAP measures disclosed on this conference call to the most directly comparable GAAP financial measures are also available as part of the press release.

Before we begin, let me remind everyone that this call will contain forward-looking statements. Investors should be aware that any forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those discussed here today. These risk factors are explained in detail in the company's filings with the Securities and Exchange Commission. Please refer to these filings for more detailed discussion of forward-looking statements and the risks and uncertainties of such statements. All forward-looking statements are made as of today, and except as required by law, the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Joining today's call are Sima Sistani, CEO; and Heather Stark, CFO. I will now turn the call over to Sima.

Sima Sistani

ThanksCorey.Goodafternooneveryoneandthankyouforjoiningustoday.I am thrilled and gratified to confirm that we have now successfully returned Weight Watchers to a subscriber growth trajectory. A significant achievement and a direct result of our work in reinvigorating our core business.Q3 ended period subscribers totaled $4 million, up 6% year-over-year. This Q2 to Q3 sequential change is the strongest in our reporting history.In addition, this is our first quarter of reporting year-over-year subscriber growth since Q4 2020.