Company: WW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029511
Chunk: 161

Company: WW INTERNATIONAL, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 161
---
.0

    4.2

    66.6

    91.7

    % Change Fiscal 2024 vs. Fiscal 2023

    100.0%
     
    *
    100.0%
     
    *
    N/A
     
    **
     
    37.8
    %

* Note: Percentage in excess of 100.0% and not meaningful.

** N/A - There were no Incoming Clinical Subscribers in the prior year since our acquisition of Sequence closed during the second quarter of fiscal 2023.

59

Operating Performance

The decrease in revenues for fiscal 2024 versus the prior year was driven by both a decrease in Other Revenues and a decrease in Subscription Revenues. The decrease in Other Revenues for fiscal 2024 versus the prior year was driven primarily by the closure of our consumer products business at the end of fiscal 2023.

The decrease in Subscription Revenues for fiscal 2024 versus the prior year was driven primarily by a decrease in Digital Subscription Revenues and, to a lesser extent, a decrease in Workshops + Digital Subscription Revenues due to a higher mix of Digital subscribers within their initial, lower-priced commitment periods and recruitment declines. Workshops + Digital Subscription Revenues were also negatively impacted by the continued mix shift from our Workshops + Digital business to our Digital business. In addition, the lower number of Incoming Workshops + Digital Subscribers at the beginning of fiscal 2024 versus the beginning of fiscal 2023 contributed to the decrease in Workshops + Digital Subscription Revenues for the year. Subscription Revenues for fiscal 2024 benefited from Clinical Subscription Revenues following our acquisition of Sequence during the second quarter of fiscal 2023.

The decrease in Total Paid Weeks for fiscal 2024 versus the prior year was driven primarily by Behavioral recruitment declines.

Liquidity and Capital Resources

We have experienced significant disruption and competitive pressures, including shifts in consumer behavior in the weight loss category, a rapid proliferation of GLP-1 and other medications available as weight-loss options, and significantly increased competition from new entrants. These factors have negatively impacted our Behavioral business. While the Clinical business is growing, it has not yet been able to offset the declines in the Behavioral business, resulting in decreased revenue overall and decreased cash flows from operations. Our management has continued to execute certain cost-savings initiatives, including the 2024 plan, to proactively manage our liquidity. If the cost-saving initiatives do not provide the expected