WW - Earnings call transcript Q1 2022 | WW International, Inc.

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Operator

Good afternoon and welcome to the WW International First Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Corey Kinger, Investor Relations. Please go ahead.

Corey Kinger

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

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

call I O'Keefe, call to CFO. will are now and the today's Sima over Amy Joining turn Sima. CEO, Sistani,

Sima Sistani

to know in of International. cover, our on business. enjoyed my this aspects iconic a thank pivotal you much and weeks as I'd And like lead Directors, to want give joining There's product for of and better to very the Raymond our Board opportunity afternoon, and and especially of joined team opportunity today call digging thank Good time. the Debbane Oprah the me. I all seven us the get Corey. so everyone. company Thanks you with to first earnings a to WW have company Winfrey, ago at CEO I across to for

a So mentioned available join thoughts will I QX of to health an experience, of core. I further to outlook. investor at performance specifically we're will to then better with communities headed. is network, we shared a our part earnings today, the in where empathy digital our the interest release, help priorities my that, of career financial around and section at building gather social video and the my relations cover on and website in original WeightWatchers for short immediate and business, our WeightWatchers. Amy as loss. speaking do focus assessment of my But about decision spent their see people and the weight I've look I

with differing can are long The member a has with years, been connect, the way address renewed has community us the through standard magic. on And coach digital the in way. it. and of our to it today, human the and few The is. which workshop a met experience. and connection. It's is digital bringing and loss the to the intersection XX/X are in many. one its accelerated weight your in only is changing the was beyond of digital XX a of are goals. believe a desire come many largely members need experience and found science remains first gold tracking mix level a you effectiveness. has XX% meet meaning group inspiring tools, a get differentiates was frankly, the have But the represent total, of WeightWatchers product have people Digital commodity What features messaging gives action like-minded the of of their workshops, that last each online But at coach pandemic a of need remained am community personal of good our committed stakes, still the first in journey. ship where almost found has the and That's real both been a by chat world, product content connection. gold to come brands to deliver coaching trusted most we tools For step weight years, goals. loss us on them consumer WeightWatchers sentiment subscribers to we step. for that. meet members loss clear experiencing that to the to our these a not But there lacking healthy, week nearly for is shift I weight a members a with where we XX% in in looking standard. sustainable table

we're foundation it lose for to do get accountability coaching, and years, complicated well. But the XX our product for We and and how know almost weight we've results and help trying deliver to much have Because people to consumers. We marketing, community. and the the too process. done

We The in with simplicity humanity, investments latest must the scaled last in and impact. space. over company business to years. can There efficacy delivered But will investments growth. have all that. the And has continue deliver up many technology. the deliver for People of paths that those and warmth are are we not and utilizing to the begging

decision were most so, improve making. to and it organizational clear to required flatten to real of what realignment The foundation we will drive executive to was We leadership, by we do our primarily deliver basis. announced is On need to with order of nearly for our WeightWatchers narrow about expected of program reducing focused were on best, a members. XX%. will a experience accountability. and path million savings $XX too keeps above VP to platform April creating focus our that actions the and overextending me be do the combined our many members organization take With revenue, while create However, that positions annualized decrease layers products To with into has resources. action an position These in world. pursuing on excites to and ensure critical and the to offerings building program. complexity a clinically estate redundant in restructuring growth. a trends existing this pressure and do changes Full need current building focus We advancing the and subscriber tech than is shared other throughput that by profitable structural engaged to minimize simplify studied been better at efforts any organization And we stabilize loss all simplification, the once, new of continuing we stop. to on weight to workflows XX,

So that we're certain means back pulling on initiatives.

required and many bring D While Digital didn't demographic, return. necessary makes deliver a attempt attract a was resources which coaching subscribers strategically XXX XXX. distraction, and to strategic of and the Starting the these investment were compelling, to digital younger the were with first company's sense.

product was sunset membership. will appropriate, The accomplish in to Therefore, was However, those designed low. these current development XXX product the same calibrating we cultural upgrade D be important at for learnings. members objectives. products in off shift as and the will Engagement Canada their US an serves the starting data decision these it as as we and the to quickly did rate XXX sunsetting informed not embracing D

bring take for compelling, a will way from We XXX to to holistic and learnings a develop the digital members. all community D our roadmap and coaching product in

pipeline is a new a in a take experience trends priority. coaching, a creating on app in months. around growth wins there At goal focused is same to will to experience that team as data process And be quick Our informed will pillars, person workshops three XXXX. core is community. streamlined the way and become stabilize up the This return XXXX. XX business that with to will the along improve But in time, member feature we through to a signup the accountability,

our digital life. workshop part taught real differentiator every experience better to The nothing digital convenient going studio It's community compares in in your We years is help enable to me building that is of experience all. tech to our critical XX coaches the are after IRL though a serve day. members. have

periods down opportunity by subscribers n XX% in the global QX, attendance since demonstrating was end With person XXX,XXX person. to subscribers up business. year-over-year, up pandemic, year-over-year workshop workshop near in nearly back were we term down this desire While a the to meet have build

pre-pandemic than our digital has higher on experience, work levels. remained we While which only notably improved

footprint, We will studio location. to optimize particularly the our continue fixed

to do their coaches only the Effective across motivation point the mention environment are I not in employees feedback believe areas These committed wage the for investing us that loop our not May receiving are it's and to but important incredibly a X, US of roadmap. all We to an to experience of studio source purpose product to increase. greater a work, our critical to facing to bring people touch our also support, business. allows create member to are team. members, a best employee all

to what narrow best, do we we parts also other rationalizing we of business. As our focus are the

last also to the our expanded of enablement channel we products particularly which product consumer of significantly previously the essential footprint studio the primary been limited given accessibility the our counts had platform over business, include variety for sales. changes First, during our SKU across been has products to years, have a our categories. wellness to e-commerce pandemic, our and But few

snack Combined are we decided SKUs, SKU points However, instead our turn friendly margin XX% scales. of high and product see high sales consumer of with foods, back profit count, applies approximately pressure, on concentrated our XX:XX the product items. focus rule tools we scale kitchen and namely have that our to our XX% here, on

evaluating are high licensing WW Beyond those model. products, via to a margin we opportunity expand the presence

for but an challenge. layer in BXBXC only reassessing a Second, the last been marketing channel. member. mile Health It the not Breaking we expectations creates also model tech requirements, through our are to growth has Solutions a extra

clients. We will serve our a on focus continue with to penetration existing partners with increasing our

steps about living food diabetes this to of to as XX% are adults better the program better serve with self-reported BMI We living serve continue prevalence of diabetes. innovation XX. be our to among the US X% to latest the opportunity members with taken of population. We've diabetes members over excited our compared first with a through people

living people attract our will We for the with tailors members products diabetes have core a roadmap more believe we prevalence that gap. and feature close that

would Nick Hodgkin Before in CFO. as the the contributions over COO I to over thank his the to many his previously years company past XX Amy, call turn and I for like roles

done they've of and employees personal the contributions of The impact WW. impacted for thank our I leadership of process. for making immense. colleagues. the and to to recognize friends decision changes also While them I And all team the everything the simplify intention de-matrix the is departing are

Now to Amy.

Amy O'Keefe

finished Thanks, the our ahead We Sima. guidance. of EPS quarter well

of While in back efficiency was pressure quarter, basis, on volume with In light year-over-year demand were factors impacting on to our we the continued likely particularly of marketing outside a US expectations. the it in pulled spend. demand macro of were line

contributed expected also Additionally, cost controls gross better to G&A margin quarter the in overdrive. than the and

down XXXX, subscribers of X% X.X XXX,XXX end from lower QX expected Digital end million headwinds the X% subscription of a million For year-over-year QX the X.X year prior nearly subscribers of relatively was $XXX to with XXXX. Revenue the with from subscriber down QX end pandemic we year, XXXX. were were of quarter line down base. X% million. and the of of down period subscribers, in finished Workshop onset from year-over-year, down period in XXX,XXX XX% with and of

Additionally, the the comprised was down decline of products primarily of ecommerce XX% dollar gross approximately prior US licensing approximately traffic conversion. The of primarily to macro up was margin is efficiency Europe, primarily Consumer than subscription ecommerce Adjusted from decrease was of in XXX related to XXXX points million XX.X% and XX% likely compared to workshop effectiveness points where we spend $XX year-over-year X% was driven down digital lower spend higher of a euro and created QX mix. year in planned. of by sales the XX product of pressure. uncertainty and of million affect against Marketing revenue due the to investment. weakening $XXX basis in the sales quarter in lower basis and

difference. markets, international in certain to in was year. of versus those $XX to due $XX redeploy the back G&A bonus million prior of half expense dollars down million particularly back adjustments pulled timing planning or XX% we to primarily are and year, the and So

the we've was spending QX addition, In environment, in of of been with G&A $X.X demand adjusted well light of cautious operating guidance. income ahead million in

to outperformance is $X.XX the onetime expenses As at income when QX in expense $X.XX in an the improvement marketing gross I of prior loss year to and mentioned prior of due the levels strong increase drove year. interest quarter. to EPS primarily lower This versus allowing and QX a items excluding margin XXXX, lower us G&A was quarter.

has discussed, majority $XX time. the a hard on size do of streamlining structure higher we range believe we over severance million. million actions, reorganization restructuring in spending the of we've to improve charge comprised look April summarize million this focusing related XXnd. As restructuring in and our Sima current on also This initiatives. expect making, while which at cost charge impact organizational accountability a the decision is To of simplifies payments, QX, that to but structure paid at be a of approximately will the take and to that impact vast demand taken levels, million and will right organizational $XX confident in action $XX the only Not resources speed the are announced $XX

million exit XX or with In a cost case, the expected addition, $XX we the unprofitable nearly related $XX the with we party a savings benefit be structure. existing branded restructuring each third replace locations to G&A. to into will efficient In flexible million year savings savings more plan with I actions the to approximately estimate workshop locations largely And annual in end that either workshop $XX to million. We location consolidate of US. will

our to a field mentioned, the redeploy Sima of investments we As in total to expect organization. portion savings workshop

outlook our XXXX. for to Turning

for the to year year will easier the year of demand the trends in prior although expect term, cautiously We near balance get and the to current plan continue that the will continue comparisons progresses. as will

consumer of financial the of initiatives, Additionally, SKU reprioritization plus transitioning of XXX,XXX XXX D and subscriptions approximately rationalization we XXX, workshop D are impact including digital to current year products. members in evaluating our the the and sunset

margin to With range to at million from X.X end the would level to end decline from of $XX revenue in the seasonal subscribers, the million headwind subscribers approximately QX revenue to expect jump of year subscribers investments expected and team. XXXX the to with million at of XXXX, of the for entering lower above expected is year in end single versus be includes gross the or the to XXXX full consistent the QX, year-end Adjusted With X.X which the lower operations period US to XX%, down X.X the be expect in we mid for would of be high subscriber of we field typical QX. digits. which impact

deploy that to to the spend would As flat be plan we half, expect from savings QX I back marketing XXXX. year to marketing full

is interest approximately will million expected $X.XX full incorporating we approximately $X.XX to comparable operating excluding million. to in for diluted $XX per $X.XX EPS of million expected impact to be mid charges. expected single to expect restructuring be the QX, marketing million the of for when restructuring charges, XX% to negative specifically down the last Adjusted Excluding be and estimated land and of in tax range. is restructuring percent effective to G&A expense expected The high fully in share, of margin income range $XXX digits to to the be charges your adjusted to GAAP approximately $XXX gross spend year. the revenue with XXXX range. is the is in Therefore, Related year impact $XXX to $X.XX likely the rate to be

Turning was QX end. EBITDA net to plus approximately QX at X.Xx, an sheet, cash X.Xx debt to from undrawn $XXX up revolver. leverage million balance ended ratio year of the slightly with we

generation software to cash is increase expect we the in G&A, demand pleased to are ratio and in a CapEx QX $XX While expectation ahead, excess anticipated quarters in summary, overdrives by repay debts. range. both flow EPS likely driven with million In use primarily are in the our capitalized environment. to soft leverage to we the be

WW. for year a will you expect of XXXX As be would transition

We reset growth the with I call accelerate structure to foundation a organization's executing Sima to back the have earnings turn the in structure near operating now term, of forward manage taken while for margin priorities the going significant action and set scalable as to cost narrow expansion. the cost a new shifting focus to and decisive on will

Sima Sistani

Thanks Amy.

social be elevate of people that and we more growth. building a narratives. will retention. create the When them delivers turn, Together WeightWatchers. translate Brown subscriber and our people and excel. Then must energy than in mentioned, heard members product back continue everything. between share of weight that, valued polarization, We of because that they a where that alongside drive science is I a we walk we improved of workshops, this in back we person belonging. seen, of After a putting the with connection. in they from deploy to receive efficient millennials, acquisition, we new achieve experience on place in of areas. witnessed we the new their walk of are the only into experience. feel and and interest to will also Entrepreneur digital they exists and service attracting will advancing They intersection our a our without focus we group judgment. when reactivate loss. give community in a blocks more vulnerabilities. will Connection connected, to out the says engagement As that landscape, our couples, advocate lack network sense will space I well Not lifted longer effect shared in my is members experience bring when And across members as people moms, ever years And these attract former is energy distancing to to as to expertise plan members. suffering an connection cohorts, meaningful

organization to in streamlined execute am of to for list a the we with I lower growth. company priorities we us joining today. will confident on profitable Thank be able you cost focus structure, a a return As

take now happy questions. to are your We

Operator

And Badishkanian Instructions] from of [Operator will our come Greg first Wolfe Research. question

Hanna Spencer

Good pace you view how as core afternoon. Hanna in of really This of about business business on you we the platform? a then digital Greg, of can for to the replicate And there? you more be but is changes the and you workshop appreciate experience Colorado what best that versus bit talk in the of on can investing type needed the will Spencer the app achieve goals your workshop prioritizing the are investments how maybe the

Sima Sistani

for question. your thanks Spencer, Hey,

So let distancing, can start speak myself. being by And member they're accountability XXX% the almost program. was up And the of But the off I me after saying social the we people fatigued. are and indications personal attendance workshop And can that with two in that of see years I craving efficacy a know what QX. is we of to connection.

seeking they're I So to time, meet ago, two people through a this what double an remember have believe when connection workshop would are modern more a they experience. need today. We subscribers years we tech at enabled only to opportunity workshop that

opportunity experience. digital So that's on as term work us the a near for we

mix between, in we're of to terms best. shift going So LTV the wherever invest is in the

in platform QX. costs been increase I that Even XX% where prioritizing Meta to is recently, really environment average say it customer and had has year-over-year acquisition in we're exploding, and So investment to add heard digital space excited per the the price see an crowded.

and like effect I as can and is set serve digital recently heard us it this discovery save for a clicks. works, apart IRL And subs. So halo I really

Amy O'Keefe

Hey, Spencer, Amy. it’s

on of a The we quite over business last cost if structure to bit work years, we've on workshop a the still other several leverage. side overhead the done of you is, thing I'd recall, of a say have the lot

before talked our with so a and not attendance And workshops. still add single still for statistics can double we've that the members surrounding workshop, we mobility we're I comfortable think

I so of estate ads to and call order significant don't what workshop model party costs the space And more And investment able to studio third the step the in as use a to those those envision we've vary in members return. footprint. efficient amount of a up real variable been we

the see operations, don't significant investment other the short I as wage I than mentioned, amount term, the don't of Sima field increase it in term. US relates what for cost short a envision fixed to So in

Hanna Spencer

just customer Because part that's on point pretty are tends growth that it, in go returns X.X and really the P&L. by to through what's how we lowering of you time cadence your big about diocese to to to should we improvements marketing, think acquisition costs on back to helpful. subscribers, then the the should a any Got but how And of and sort growth expect and the over thinking be in there? And collection next is catalyst the again, X.X to look subscriber XXXX million I or get just really business. implied recruiting

Sima Sistani

is into remained do the needs recruitment. works, that visibility relied drive on spend, I experience better say with just is We've marketing the do work. so also can But performance, on product to by decisions. us the We've demand But time make want agile in-house efficient, recruitment the driven to that word-of-mouth. marketing think because I interest now to and onus that we with to really initiatives product more in have the it's real or more really we our our when

Amy O'Keefe

and member at in no from but I'd an the surprised increasing so LTV that we're acquisition also should environment. this cost is and attract recruitment add that it a perspective, with to we to of Yes, I'm greatest LTV, trying just look be the

ratio we've above we've CAC And X:X. to So the maintained, I our redeploy worsen an XXXX, think is where LTV savings the intention to subscriber told back and base of to our and going investors, course given in QX over half. Got in historically that's to given marketing it. maintained we've

Hanna Spencer

that on brand the of In and bringing see seen as do standpoint. name more that last years, sort back than positioning brand given few you one. we've the opportunity, final any recognition one use WeightWatchers thoughts over just or than often release, other an then overall And the it. Got versus has you WW,

Sima Sistani

a legacy we that and and WeightWatchers incredibly is mean, proud Look, are a an it's iconic brand, of. heritage I

see or use our will interchangeably. by us WeightWatchers us both WW, names Call you call nickname, where we're us both. So

Operator

question of next Lauren from Schenk The Morgan Stanley. comes

Lauren Schenk

you all for Or the in recent subscribers most How do little long can talk think of think term? Thanks of And bit long detail, Thanks. terms the where there And restructuring? thoughts further footprint perhaps right you digital end you'll a perspective about will that's think some lastly, on from I refocus add? is this how studio of were us term? number sort of new reduction digital we you about the what locations sort higher. Great. impacting initial on be maybe versus the Second, studio, then do to you focus mix in what think a the on margins over do or wanted dig after even the right remind medium margins to term? studio you that this used

Amy O'Keefe

Yes.

there. Today post start the we branded I'll US. locations the workshop can in just will US, I in XXX, below So say well, the closures be XX

workshop profitability these see, and by accordingly. I wait we're worth for accessibility it's really relying But from aren’t a location to continue take this way that evaluate change going and by of closures it's and we're the location of also perspective, member. my to point, going workshop at think mentioning, action the a to we're going think those the a I locations, Lauren, to so And location,

kind party still will members our workshop of go or whether pay of XX% mile within a as XX you whether location, a drive location. be third a it's from So it's branded

of with trough And right qX where from bit which a so workshop a the we of half ended level. end at a subscriber now under we're QX at comfortable was of at And of XXXX. that XXX,XXX about subscribers, perspective, is we're

members. impair that ability certainly our anything don't to do service we our so And want would to

good this being a is variable or And good a model be a fixed cost us versus spot a back so in I to build for think cost there using this to model. location, is able

As to XX%. with that jump and still QX was And relates, margin skip margin workshop the was digital are to relates in strong, XX%. digital really now Sima margin then it I'll in over it as margins gross of end

to business. about sides soon so And absolutely perspective workshop margin margin bit are to a of was it's levels. that how leverage both maintaining But strong think wait we back committed the pre-pandemic to gross of little business a at a get from I gross more could we on see

Sima Sistani

members Yes, to just And pair XX still our XX% in the location. a the with minute them. what people I we nearest would add be Amy works that want drive within as for US said, of to best

join So digital these additional I've are a them business. intersection when magic. been That's our special. of us coaching and makes and the not indication And competitive And life. our a feel about in join, in you'll holistic for that see long you that and closings And a our you between experience us an you we shouldn't of community. joined but you us scalable way. that's to invest Workshops WW for in join moving what one join in membership, a more real That's compares how workshop, community advantage time. we'll program. direction product workshops it building be you science the or app Nothing

Lauren Schenk

D I wasn't from sure on the sunsetting if not? impact And great. just full the the and one of year, product the includes it XXX or streamlining of then guidance Okay, clarification the

Amy O'Keefe

would I does. seven has Lauren, those Yes, she say, We've weeks. Sima, still it We're been pretty weeks. been seven in busy obviously, here

building any impact. to But we're I and conservatism for some downside of expected guidance And evaluating out wind these think down impact some initiatives things plan range the the of thoughtfully. got, to so account think I incorporates I've still obviously, these

Operator

Craig-Hallum. from comes Fuhrman of question Alex Next

Alex Fuhrman

my you be sunsetting the if XXX a you of mid-price role Thanks talk Great. to about in much speak first with And a could very there the can a I taking feel was for future nice little question. for bit wondering you time, for the offering. the product more that

Sima Sistani

to nice talk Alex, you. Hey, to

product. we deliver was on the didn't are into right KPIs. So the That just it decision, digital coaching our integrating strategic

doing bar didn't is sense that members, years. And you do going know videos. XXX, a we back to workshop closures. we that. content me too too as of connection We result XX coaching business. we've want what almost D XX% feel didn't I show for our know, many a talking high unfortunately, instead don't, that a not coach, product needs the hearing one access mentioned coaching and to to been come digital of to Our to the I deliver me, of for keep our they we're belonging think subscribers, and to the they have And

as And experience. in to a the we're different bringing simplify to the focused way. as that again, wanting product that think core I now if so on compelling far product And tiers, we're

we're looking testing that. actives. and we've about And now around XXX,XXX, different today And XXX so models D got

over the we in opportunity value Canada, be the coming get will at the so giving base an to enhanced an this active US price. same And and weeks memberships

we'll be plus into tier. expecting a them continue my have digital we're we'll new in membership members And so brand and forward expectation is joining roughly to forward, our our that going And workshop digital different transitioning same And will be proportion. to the membership. going a the

Operator

of from question next The Stephanie Wissink Jefferies. comes

Stephanie Wissink

afternoon, questions. Thank everyone. you. had Good two We

some for marketing a cohorts even little I about community. is But of some on into programs repeat the community that think postpartum had diabetes. designed Talk cohorting new and you how dieters, you how you've think in you the seekers target know I bit programs mentioned, message past first about around and your and and your The maybe you talked now. markets about of strategies specifically

Sima Sistani

is we're to demographic And but first diabetes. on think towards for should don't current lapsed prevalence cohort. I the first that retention be want able to engagement improving a of were focus experience our they a you or and living demographic and product. build and well, but because there's minute our members programs our from member a And people with I I do step opportunity spend help spend building a a and the acquire diabetes to that plan, the closing what an eat. since manage to as food our use on asked, time gap. cohorts and different product new part product and Steph, right And on Thanks, We great retaining attracting has laser a now, ultimately believe specific focused standpoint, should we was

US that with BMI to self-reported with So with living XX% over of of people diabetes. are And compares X% diabetes of our members XX. adults a living as

the closed prevalence are our the exceed I And we And trial pressure, programs from improvements weight, blood blood distress, sugar, was members. of understand showing and diabetes their was a have them really diabetes. them program glycemic can we because sense managing that felt understood help having So XXX,XXX supportive gave about participants the we specifically significant encouraging, diabetes the clinical on honestly, were critical easier. WW just of That's that in they other that And it. with diabetes, the gap. and of journey belonging community believe control, results that people have

that believe but it's to emphasize we are all members. this experience that yes, important cohort all focused growth on want members, other our And as improving So for a I just I opportunity. is as the

Stephanie Wissink

standard one experience, price Okay, and tier layers price? to two Alex's that's follow as on Is view Or model are you managing a helpful. you a chosen? the would want And price still physical include the up the past? around pricing. have in into that you compress if question the had earlier business then just And your that

Sima Sistani

testing, in We're simplification continue membership strategies. I bringing going our to to more and interested model. very am various promotion pricing

XXXX as instance, or of versus we QX of we six pricing our the plan saw strong US in chose longer month a recently conversion simplified length, signups that's initial page. result, a really XXXX. For in QX and XX% XX% And

But more we to learning. So that and come. again, testing on are

Operator

turn session. answer like and I for over conference Sistani question would to to Sima the our remarks. closing concludes This any back

Sima Sistani

talked keeping we do able you on combination and high organizational engaged a I better informed with and restructuring. The executed again XX level the digital today. the that we've efficacy, I'm We've priorities, Mayo. to then I've tech you our years record our us weeks I'm as and membership And look We've care. Cinco we've to return lay progress. track Well, a building in spent is of Take profitable reason been deprioritize joining framework seen Thank in plus forward others. Right. developed happy to here. opportunity to de never WW. to growth. about, for I've communities seven industry

Operator

you now attending concluded. disconnect. you presentation. now The conference is today's Thank may for And

WW International (WW) 6 May 222022 Q1 Earnings call transcript