Company: WW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029511
Chunk: 272

Company: WW INTERNATIONAL, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 272
---
 our products include salaries and related benefits, depreciation and amortization of capitalized software and website development, credit card processing fees and other costs incurred in developing our offerings, as applicable.

Marketing Expenses

Marketing expenses primarily consist of costs to produce advertising and marketing materials as well as media costs to advertise our brand and products across multiple platforms (e.g., television, YouTube, social media, programmatic, audio, search, affiliate, branded content, electronic customer relationship marketing (eCRM), direct mail and public relations), costs paid to third-party agencies who help us develop our marketing campaigns and strategy, expenses associated with brand ambassadors, expenses in support of market research, as well as costs incurred in connection with local marketing and promotions.

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist of compensation, benefits and other related costs, including stock-based compensation, third-party consulting, temporary help, audit, legal and litigation expenses as well as facility costs and depreciation and amortization of systems in support of the business infrastructure and offices globally. Selling, general and administrative expenses also include amortization expense of certain of our intangible assets and certain one-time transaction expenses.

Gross Margin

The following table sets forth our gross profit and gross margin for the past two fiscal years, as adjusted for fiscal 2024 and fiscal 2023 to exclude the net impact of restructuring charges. See “Non-GAAP Financial Measures” for additional information.

    (in millions except percentages)
     
    Fiscal 2024

    Fiscal 2023

    Gross Profit
     
    $
    533.1

    $
    529.3

    Gross Margin

    67.8
    %

    59.5
    %

    Adjustments to Reported Amounts (1)

    2024 plan restructuring charges

    2.5

    —

    2023 plan restructuring charges

    2.5

    21.1

    2022 plan restructuring charges

    0.0

    (0.0
    )

    2021 plan restructuring charges

    —

    0.1

    2020 plan restructuring charges

    —

    (0.0
    )

    Gross Profit, as adjusted (1)
     
    $
    538.1

    $
    550.5

    Gross Margin impact from above adjustments (1)

    (0.6
    %)

    (2.4
    %)

    Gross Margin,