WW International, Inc.

WW International, Inc. (WW) reported net revenue of $347.1 million for fiscal year 2025 ending December 31, 2025, with gross profit of $247.1 million. Cost of revenue was $100.0 million, while operating expenses included marketing at $116.7 million, product development at $17.1 million, selling, general and administrative at $115.7 million, and franchise rights acquired and goodwill impairments of $27.5 million, resulting in an operating loss of $2.3 million. Reorganization items net of $1.14 billion, interest expense of $24.7 million, and other expense of $1.3 million led to a loss before income taxes of $28.3 million. After a provision for income taxes of $33.8 million, net loss was $62.1 million, or -$6 per basic and diluted share based on 10.0 million weighted average shares. The company emerged from Chapter 11 bankruptcy on June 24, 2025, reflected in successor/predecessor equity presentation. Balance sheet totals $946.8 million in assets, including $160.3 million cash equivalents and $213.6 million current assets, against $628.7 million liabilities, with long-term debt at $465.5 million and equity of $318.1 million. Operating cash flow was $5.5 million, investing cash outflow $13.2 million (including $11.1 million capitalized software), financing inflow $153.9 million (primarily $171.3 million revolver borrowings), yielding a $7.0 million net decrease in cash and restricted cash to $178.3 million. Revenue derives principally from subscriptions for Behavioral and Clinical offerings amid competitive weight management landscape with GLP-1 medications.

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