Nicholas P. Hotchkin
Thanks, Mindy.
proportion from signups driven than performance a in margin. supported continued of our the growth to we member QX Invite compared were recruitment impressive strong revenue QX a first-time double-digit great what in prior Member U.S., Period trends, of by through were start year, strong solid to our Similar by and results the WW, X.X operating QX an flow year, in to recent million, or End years. our XXX,XXX and the XX% subscribers be of Digital Subscribers above to well in up Our XX% Friend with subscriber to in bringing members saw more to increase new first initiative. to in half, prior
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Digital million rate delivered in our growth margin increased a currency third profitability an of operating $X.XX of growth in of year-over-year on points income prior leverage continuation strong XX% strong dollar and the year-over-year in the revenue model of our business, revenue a particularly the for Paid rates currency Gross QX In $XXX was a XX%, reflected XX%. constant operating XXX quarter. the constant The to incremental XX% of the year is Weeks from year. on million, impressive or growth. $XX to Given business quarter, margin saw the revenue basis, income. flow on constant total QX operating up of million income growth, we bringing currency basis the half $XXX our every incremental growth increased in we exceeded in through operating first double-digit basis
sales it remained of our flat we to continue spend. as of focus was marketing on basis, percent absolute relatively While higher a the year-over-year a efficiency as on expense
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UK, XX%. Turning to increased End Subscribers on And increased geographic North Europe Period and QX, revenue our constant of Continental America End and XX%. Period XX% in by Subscribers and performance on flat constant of increased revenue the currency was XX%. XX% constant Period on market, currency, in increased Subscribers of increased currency revenue End
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and the our an Turning website. presentation on seasonal included trends in illustration to corporate of available we've seasonality, investor our
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due recruits shift approximately Now, full-year continued a guidance, the XXXX of turning digital anticipated through softening our be revenue Invite higher $X.XX now mix to well in subscriptions, billion. to Friend, we're to the UK, full-year number as towards XXXX than a anticipating as some
estimated what an guidance to exchange on year, this revenue which than our about benefit less For of the guided million is last $XX $X we assumes foreign call. million,
a year our of outstanding to GAAP compared $X.XX to million to XX the continued range of incorporating and the prior This range for updating are through $X.XX full assumes our $X.XX, year. guidance strong to tax guidance reflecting a rate. EPS to profitability We lower $X.XX shares flow full
anticipate of be an market, line sell-through expect that expense the remainder evolving we're Marketing our midpoint about expected up above even of more which gross XXXX Continental year For include rates in and discounted will reflects is didn't at UK, XXXX our our launch new full in the expected initiatives inventory in full our to And in largest the to rate largely in initial and advance revenue Europe, We for busy revenue expect our the up approximately the full guidance impact year North a also of margin reflects we in full during on our prior expect from of margin we brand. now year-over-year Recall and the basis about is winter the in in consumer will a increased expense change of percent strong to of of increase our products now XXXX. marketing constant campaign a product of XXXX. mid-single investments a And revenue to to to TV, impact to and in we revenues bit range G&A greater Invite near-term increase season. the speak absolute XXX summer have costs year as be very referrals being the full of development benefit incorporates digital investments In EPS to presence a on rate our the as points forecast be result range, digits. also investments TV that driving color by due forecast. addition I'll Friend gross but well in it now in mid-XX% and mid-teens. launch my excited the America, $XXX provide about $XXX The sales. be percent basis, or of revenue particularly to in we campaign be million comments, spend year-over-year flat full to as expense. year up higher so in our currency on year product as primarily million in and spend areas, tech capabilities higher a and due down is dollar The compensation sales. equity to increase is in WellnessWins. In
we're to dollar year, tax in line, incremental of income. year. $XXX full interest strong the expense full the the revenue, rate XX% of million. This a year. we to for year And is least has incremental full $XXX operating be at expect $X.XX million the about now for Below assuming each prior flow business to operating Our of for income. And through we generate expect
approximately we of now EBITDA year, full the For million. $XXX expect
X.XX debt-to-EBITDAS with expect Our end improve improvement ratio of at have of sheet times debt-to-EBITDAS, one times, a balance our in just future. times And to ago. net loan X.X year X re-price a we quickly. an term stated XXXX turn X.X balance we ended our nearly believe QX our sheet And about We from continues billion target net momentum, given $X.X we opportunity the to and below leverage. financial near achieving may previously to
a be enhance continue While capabilities. science with rationale to could financially technology and may leverage, good that including our we on highly reducing we focused and small consider strategic those attractive acquisitions
addition mentioned in with quarter, the for Mindy Kurbo tuck-in of As million. made $X a the acquisition approximately we
substantially our of invested of properties about domains. brand years are in is our We IP which brand the strategies investing We and foundation ahead been also in have in launch. $XX growth including now intellectual in the Internet our complete. transformation, WW ahead These million investments
in expect $XX we G&A year, office by the space capitalized be million. to driven primarily CapEx and software is For and the $XX investments be range spend, expected million tax to
subscriber forward to from revenue expect four retention, end XXXX, product and the higher fueled higher the to through be XXXX. we of sales growth recruitments, by at flow base things, higher and Looking target partnerships a much
Let XXXX in I'll year-end But now me last areas XXXX when our starting the of in illustrate through XXX,XXX three with year-over-year. results report February. to we XXXX due follow would more our subscribers and million translate other with detail model, and $X.XX this our EPS touch increase be ending on the about subscription guidance point discussing in X to a more subscribers to in XXXX,
plans to grow Importantly, this is continue on recruitment, our top streams in to of revenue other XXXX. retention and
mentioned, growth We our the increase make previously geographies XX% partnerships, we And goal three-year overall revenues by contributing of in and towards also opportunities BXB recruitment about and in product retention than picture. our growth solid in improvements $X be revenue as billion continue expect new to to to driven positive with licensing, continued to this to more XXXX. progress
our results growth business to rate we turn we growth G&A to Mindy. upside of like gross I And towards plan keep XXXX, seen future rate as in we as and a expansion expenses that, performance, recruitment percent marketing Therefore, to have our relatively it expansion margin flat. and of our profit exceed margin managing believe As with expect of sales to growth the and sales. in we we're would back
