olivLaw · US equity research
WW International, Inc. WW
Services-Personal Services · SIC 7200 · Vertical: Services-Personal Services (SIC 7200)
WW International, also known as Weight Watchers, sells subscription-based weight management programs, with a clinical component that is increasingly important for members in the United States who can receive GLP-1 medications through affiliated practices. The company emerged from Chapter 11 in June 2025 and reaffirmed its 2026 revenue guidance of $620 million to $635 million.
At the close of 04 Nov 2026, WW International, Inc. (WW) stock was 12.13 USD (−6.55% on the day), with market capitalisation 121.3 m USD, P/E 0.1 on diluted EPS of -4.34 USD over the last 12 months, dividend yield 0.00%, beta 2.41, 52-week range 9.12–34.43 USD. Latest reported quarter (Q2 2026): revenue of 162.3 m USD (−8.3% YoY), net income of 14.1 m USD (−98.8% YoY), diluted EPS 1.41 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 37.3
- weak (30–45)
- Bollinger (20, 2)
- 12.26 – 15.71
- below the lower band · %B -0.04 · band width 24.7%
- SMA 50 / 200
- 15.08 / 15.93
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.47 / -0.38
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −18.4% | −2.0% | −16.4 pp | — |
| 3 months | −21.3% | −2.2% | −19.1 pp | — |
| 6 months | +2.8% | +4.3% | −1.5 pp | — |
| Year to date | −58.5% | +10.6% | −69.0 pp | — |
| 1 year | −60.9% | +10.5% | −71.4 pp | −9.9% |
| 3 years | unavailable | +73.7% | unavailable | +3.1% |
| 5 years | unavailable | +61.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 202.1 m | 192.9 m | 184.4 m | 186.6 m | 177.0 m | 172.1 m | 168.3 m | 162.3 m |
| Cost of revenue | 64.8 m | 63.4 m | 55.9 m | 53.7 m | 46.5 m | 48.0 m | 49.6 m | 48.2 m |
| Gross profit | 137.3 m | 129.5 m | 128.5 m | 132.9 m | 130.5 m | 124.1 m | 118.7 m | 114.1 m |
| SG&A | 36.9 m | 57.0 m | 35.2 m | 35.6 m | 42.9 m | 60.1 m | 48.1 m | 50.4 m |
| Operating income | 35.9 m | -39.0 m | 36.2 m | -20.2 m | 41.4 m | 8.0 m | -30.4 m | 9.5 m |
| Depreciation & amortisation | 9.5 m ≈ | 9.2 m ≈ | 8.7 m | 6.9 m | 7.3 m ≈ | 27.2 m | 25.9 m | 25.9 m ≈ |
| Interest expense | 28.6 m | 28.6 m | 28.7 m | 28.2 m | 11.1 m | 12.1 m | 12.2 m | 12.0 m |
| Pre-tax income | 7.4 m | -73.5 m | 13.4 m | -50.0 m | 1.2 bn | -4.4 m | -41.2 m | 2.9 m |
| Income tax | -15.8 m | -27.3 m | -11.7 m | 22.6 m | -20.9 m | 53.2 m | 10.8 m | -11.2 m |
| Net income | 23.3 m | -46.2 m | 25.1 m | -72.6 m | 1.2 bn | -57.5 m | -52.0 m | 14.1 m |
| Diluted EPS | 0.29 | -0.58 | 0.31 ≈ | -0.91 | 14.67 | -5.76 | -5.20 | 1.41 |
| Operating cash flow | -1.9 m ≈ | 16.5 m ≈ | 4.6 m | 15.0 m | -49.4 m ≈ | 8.4 m | -33.5 m | 24.3 m ≈ |
| Capex | 254.0 k ≈ | -132.0 k ≈ | 120.0 k | 5.0 k | 82.0 k ≈ | 6.0 k | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.2 bn | 1.3 bn | 1.5 bn | 1.4 bn | 1.4 bn | 1.0 bn | 889.6 m | 785.9 m |
| Revenue YoY | −21.3% | +12.2% | +15.9% | −6.7% | unavailable | −24.5% | −14.5% | −11.6% |
| Net income | 67.7 m | 163.5 m | 223.7 m | 119.6 m | 75.1 m | -256.9 m | -112.3 m | -345.7 m |
| Net income YoY | −42.5% | +141.5% | +36.8% | −46.5% | unavailable | −442.1% | unavailable | unavailable |
| Diluted EPS | 1.03 | 2.40 | 3.19 | 1.72 | 1.07 | -3.65 | -1.46 | -4.34 |
| Diluted EPS YoY | −50.5% | +133.0% | +32.9% | −46.1% | unavailable | −441.1% | unavailable | unavailable |
| net % | 5.8% | 12.5% | 14.8% | 8.5% | 5.4% | -24.7% | -12.6% | -44.0% |
| Free cash flow | 113.5 m | 208.5 m | 276.5 m | 165.2 m | 114.5 m | 74.6 m | 4.2 m | -17.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2024 · 28 Dec 2024
- Cash
- 53.0 m USD
- Financial debt
- 1.4 bn USD
- Net debt
- 1.4 bn USD
- Equity
- -1.1 bn USD
- Total assets
- 550.3 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.59x
- ROE
- unavailable
- ROA
- -45.1%
- FCF margin
- -2.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.5 bn | 1.4 bn | 1.4 bn | 1.0 bn | 889.6 m | 785.9 m | SEC (XBRL)· 28 Feb 2025verified |
| Cost of revenue | 647.7 m | 626.7 m | 600.3 m | 418.5 m | 360.2 m | 252.8 m | SEC (XBRL)· 28 Feb 2025verified |
| Gross profit | 866.4 m | 786.7 m | 777.8 m | 621.4 m | 529.3 m | 533.1 m | SEC (XBRL)· 28 Feb 2025verified |
| SG&A | 251.1 m | 254.7 m | 297.3 m | 263.8 m | 217.6 m | 175.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Operating income | 389.0 m | 288.0 m | 216.2 m | -284.0 m | 22.3 m | -236.2 m | SEC (XBRL)· 28 Feb 2025verified |
| Depreciation & amortisation | 52.6 m | 54.3 m | 59.5 m | 48.8 m | 57.5 m | 37.8 m | SEC (XBRL)· 28 Feb 2025verified |
| EBITDA | 441.6 m ≈ | 342.3 m ≈ | 275.7 m ≈ | -235.2 m ≈ | 79.8 m ≈ | -198.4 m ≈ | SEC (XBRL)· 28 Feb 2025derived |
| Interest expense | 142.3 m | 135.3 m | 123.3 m | 81.1 m | 108.8 m | 110.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Pre-tax income | 244.1 m | 151.0 m | 92.5 m | -366.8 m | -73.6 m | -345.2 m | SEC (XBRL)· 28 Feb 2025verified |
| Income tax | 20.5 m | 31.5 m | 17.5 m | -109.9 m | 38.6 m | 526.0 k | SEC (XBRL)· 28 Feb 2025verified |
| Net income | 223.7 m | 119.6 m | 75.1 m | -256.9 m | -112.3 m | -345.7 m | SEC (XBRL)· 28 Feb 2025verified |
| Diluted EPS | 3.19 | 1.72 | 1.07 | -3.65 | -1.46 | -4.34 | SEC (XBRL)· 28 Feb 2025verified |
| Weighted average diluted shares | 70.1 m | 69.6 m | 70.0 m | 70.3 m | 76.7 m | 79.6 m | SEC (XBRL)· 28 Feb 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 237.0 m | 182.7 m | 165.9 m | 178.3 m | 109.4 m | 53.0 m | SEC (XBRL)· 28 Feb 2025verified |
| Inventories | 25.9 m | 27.2 m | 39.5 m | 20.5 m | 68.0 k | — | SEC (XBRL)· 28 Feb 2024verified |
| Current assets | 366.4 m | 295.4 m | 299.2 m | 281.3 m | 179.5 m | 102.6 m | SEC (XBRL)· 28 Feb 2025verified |
| Property, plant & equipment, net | 52.2 m | 54.1 m | 51.9 m | 28.2 m | 19.7 m | 15.8 m | SEC (XBRL)· 28 Feb 2025verified |
| Goodwill | 152.5 m | 157.9 m | 155.6 m | 156.0 m | 243.4 m | 239.6 m | SEC (XBRL)· 28 Feb 2025verified |
| Intangibles (excl. goodwill) | — | — | — | — | — | 115.8 m | SEC (XBRL)· 11 Aug 2025verified |
| Total assets | 1.4 bn | 1.5 bn | 1.5 bn | 1.0 bn | 982.0 m | 550.3 m | SEC (XBRL)· 28 Feb 2025verified |
| Accounts payable | 27.1 m | 29.1 m | 23.1 m | 18.9 m | 18.5 m | 17.8 m | SEC (XBRL)· 28 Feb 2025verified |
| Short-term debt | 77.0 m | 96.3 m | 77.0 m | — | — | — | SEC (XBRL)· 25 Feb 2021verified |
| Long-term debt | 1.7 bn | 1.5 bn | 1.4 bn | 1.4 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 28 Feb 2025verified |
| Current liabilities | 341.3 m | 394.1 m | 340.1 m | 196.6 m | 205.5 m | 173.3 m | SEC (XBRL)· 28 Feb 2025verified |
| Total liabilities | 2.2 bn | 2.2 bn | 2.0 bn | 1.7 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 28 Feb 2025verified |
| Equity | -808.9 m | -685.5 m | -544.9 m | -685.8 m | -761.1 m | -1.1 bn † | SEC (XBRL)· 28 Feb 2025verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 295.6 m | 182.4 m | 135.9 m | 76.6 m | 6.7 m | -16.8 m | SEC (XBRL)· 28 Feb 2025verified |
| Capex | 19.1 m | 17.2 m | 21.5 m | 2.1 m | 2.5 m | 718.0 k | SEC (XBRL)· 28 Feb 2025verified |
| Free cash flow | 276.5 m ≈ | 165.2 m ≈ | 114.5 m ≈ | 74.6 m ≈ | 4.2 m ≈ | -17.6 m ≈ | SEC (XBRL)· 28 Feb 2025derived |
| Investing cash flow | -64.0 m | -52.6 m | -65.6 m | -42.6 m | -74.7 m | -16.4 m | SEC (XBRL)· 28 Feb 2025verified |
| Financing cash flow | -74.4 m | -183.0 m | -95.5 m | -4.7 m | -2.7 m | -17.3 m | SEC (XBRL)· 28 Feb 2025verified |
| Dividends paid | 0 | — | — | — | — | — | SEC (XBRL)· 26 Feb 2019verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 35 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 121.3 m USD
Key indicators
Coverage and freshness
Score by group
- Quality45
- Growth0
- Valuation56
- Balance sheet10
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 85.08 – 3,337.84 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)85.08 – 250.36 (Mid 132.25)WACC 6.0% · starting FCFF 67.1 m USD · terminal value share of EV 84%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDAunavailable · insufficient data
- Peers: P/E1,285.05 – 3,337.84 (Mid 1,446.35)7 companies used · median multiple 13.2x · quartiles 11.7x – 30.4xCSV, EVI, HRB, RGS, SCI, UNF, YELP
- Dividend discount (DDM)unavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 35/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 2.4% | 40 (vs peers) | 13% |
| Net margin · Quality | 148.1% | 100 (vs peers) | 8% |
| FCF conversion · Quality | -1.2% | 0 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | -17.1% | 0 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 6.4x | 0 (on a fixed band) | 13% |
| Interest coverage · Balance sheet | 0.2x | 0 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 1.4x | 49 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 0.1x | 100 (vs peers) | 13% |
| EV/EBITDA · Valuation | 8.8x | 56 (on a fixed band) | 13% |
| FCF yield · Valuation | -11.1% | 0 (on a fixed band) | 10% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet10/100 · 3/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality45/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation56/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
WW INTERNATIONAL, INC. (WW). Latest full fiscal year: 2024; data up to 2026-06-30.
Figures computed from the financial statements: revenue 785.9 m USD in 2024; YoY growth -11.6%; net margin 148.1%; ROE 332.6%; net debt/EBITDA 6.4x.
The estimated value range is 685.06–1,794.10 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 789.30 USD, the price of 12.13 USD leaves a potential of 6,407.0% (value / price − 1) and a margin of safety of 98.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 35/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 148.1%
- P/E (TTM): 0.1x
- The price is below the estimated value range
What contradicts it
- FCF conversion: -1.2%
- Revenue CAGR 3Y: -17.1%
- Net debt / EBITDA: 6.4x
- Interest coverage: 0.2x
- FCF yield: -11.1%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Personal Services (SIC 7200) · same industry (4-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SCIService Corporation International | 10.5 bn | 19.2 | 35.7% | 12.7% | +2.9% | −3% / +26% |
| HRBH&R Block Inc | 6.8 bn | 9.8 | 710.9% | 18.6% | +4.9% | +32% / +22% |
| YELPYelp Inc | 1.2 bn | 10.6 | 18.2% | 8.6% | +3.7% | −24% / −50% |
| CSVCarriage Services, Inc. | 571.4 m | 12.8 | 17.3% | 10.7% | +3.3% | −17% / +59% |
| EVIEVI Industries, Inc. | 282.3 m | 45.3 | 5.3% | 1.7% | +14.6% | +6% / −16% |
| WWWw International, Inc. | 121.3 m | 0.1 | 332.6% | 148.1% | −11.6% | −61% / unavailable |
| RGSRegis Corporation | 79.4 m | 13.2 | 3.7% | 3.1% | +6.8% | +18% / +362% |
| DLPNDolphin Entertainment, Inc. | 12.2 m | — | -51.6% | -6.3% | +9.7% | −42% / −70% |
| XWELXWELL, Inc. | 5.1 m | — | — | -82.9% | −13.8% | −21% / −75% |
| UNFUnifirst Corporation | — | 41.7 | 5.0% | 4.3% | +3.7% | +45% / +45% |
| MRMMedirom Healthcare Technologies Inc. | — | — | 26.0% | 1.8% | +21.5% | −85% / −94% |
1- and 3-year price returns: for WW from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 6.49 Total return -47% · Per year -47% | 11.52 Total return -5% · Per year -5% | 17.44 Total return 44% · Per year 44% |
| 3 years | 5.15 Total return -58% · Per year -25% | 10.40 Total return -14% · Per year -5% | 17.44 Total return 44% · Per year 13% |
| 5 years | 4.09 Total return -66% · Per year -20% | 9.39 Total return -23% · Per year -5% | 17.44 Total return 44% · Per year 8% |
- Exit P/E± 2.60
- Net margin± 1.82
- Annual revenue growth± 1.64
- Annual dilution± 0.15
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
WW International, also known as Weight Watchers, sells subscription-based weight management programs, with a clinical component that is increasingly important for members in the United States who can receive GLP-1 medications through affiliated practices. The company emerged from Chapter 11 in June 2025 and reaffirmed its 2026 revenue guidance of $620 million to $635 million 13.
SWOT
Strengths
- The company has a globally recognized brand and a member community built over time, which supports retention and recruitment 1.
- The clinical component grew quickly in 2026, and Core+ subscriptions posted sequential growth for three consecutive quarters 3.
- Gross margins stayed high, and the company reported positive operating cash flow in the second quarter of 2026 3.
Weaknesses
- The Behavioral business faces pressure from clinical alternatives and free apps, and interest in programs without medication has been volatile 1.
- The company recently left bankruptcy proceedings, and post-exit results are not comparable with historical ones because of fresh start accounting 12.
- The cost of debt is high, with the term loan interest rate reported at 10.53% at mid-2026 3.
Opportunities
- If GLP-1 treatments become more accessible, clinical services and behavioral support programs could attract new members 1.
- Partnerships with employers and insurers through Weight Watchers for Business could widen the customer base 1.
- Expansion into other markets could add revenue if the clinical model proves effective outside the United States 1.
Threats
Risks
- Exit from Chapter 11 bankruptcyhigh
Relationships with vendors, members and employees could be affected, and the company cannot assure that the effects of the proceedings will not influence operations in the future 1.
- Comparability of resultsmedium
Because of fresh start accounting, results after June 2025 are not comparable with earlier periods, which makes performance evaluation difficult 12.
- Competition in the clinical markethigh
Telehealth providers, pharmacies and pharmaceutical companies could gain market share if they offer more attractive solutions 1.
- Declining interest in behavioral programsmedium
If members prefer medication treatments or free apps, revenue from the Behavioral business could decline 1.
- Debt and cost of financingmedium
The high-interest loan limits financial flexibility, and cash flow pressure could grow if revenue falls short of guidance 3.
Investment thesis
What would need to be true (bull case)
What would break the thesis
What to watch
- Delivery against revenue and Adjusted EBITDA guidance2026
- Trend in Clinical subscribers and ARPUQ3 2026
- Effect of regulatory changes for GLP-1 medications2027
- Marketing spend and operating cash flownext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company sells subscriptions for weight loss and weight maintenance programs, structured in three tiers: Core and Core+ (both in the Behavioral business) and Med+, available only in the United States, in the Clinical business 1. Revenue comes mainly from subscriptions, and at the end of fiscal 2025 the company had approximately 2.6 million Behavioral subscribers and approximately 130.2 thousand Clinical subscribers 1.
The integrated model combines community support, personalized nutrition, behavioral science, digital tools, coaching and, for eligible U.S. members, access to specialized clinicians who can prescribe medications, including oral and injectable GLP-1 forms 1. The company also serves employers and insurers through Weight Watchers for Business 1.
The company emerged from Chapter 11 on June 24, 2025; its debts were discharged, and a five-year new term loan of $465.0 million maturing in 2030 was put in place 1. From 2025 reporting is on a calendar year, and on June 30, 2026 the term loan interest rate was 10.53% 23.
Segments
Behavioral (Core and Core+)
This business sells digital subscriptions and workshops, and Core+ adds unlimited coaching and specific programs such as GLP-1 Success and Menopause. At June 30, 2026, Core+ subscribers reached 541 thousand, up 13.9% from a year earlier, the third consecutive quarter of sequential growth 3.
Clinical (Med+)
Med+ is available to clinically eligible members in the United States and includes access to board-certified doctors and an FDA-approved medication formulary. Clinical Subscription Revenue was $39.9 million in the second quarter of 2026, up 30.4% year-over-year, and Clinical subscribers grew 55.7% 3.
Market context
The weight management and wellness market includes commercial programs, telehealth services, GLP-1 medications, apps and free alternatives, and competition has intensified as medication-based treatments expand 1. The company notes growing interest in medications, while interest in behavioral programs has been under pressure 12.
Trends
- Popularity of GLP-1 medicationsmixed
Rising interest in weight-loss medications could increase demand for the clinical component, but could reduce interest in behavioral programs without medication 13.
- Growth of the clinical componenttailwind
Clinical subscriptions grew quickly in 2026, and the company said ARPU rose because of a larger mix toward Clinical, which could support revenue if the trend continues 3.
- GLP-1 regulationheadwind
The regulatory environment for GLP-1 medications is changing rapidly, and changes could alter customers' access to treatments and the company's business model 1.
- Seasonal marketing costsmixed
Marketing expense fell from the first quarter of 2026 after peak season, which helped margins but may influence recruitment of new members 3.
Competitive position
Competitors include commercial weight management programs, telehealth providers and clinics, pharmacies, pharmaceutical companies, nutrition apps and other technology providers 1. Some competitors are larger and have greater financial resources and brand recognition 1.
Clinical competition is intense, and the company has said its limited experience in the industry could affect its ability to compete with larger players 1. Consumers can also choose free or do-it-yourself solutions, which adds pressure on the Behavioral business 1.
- Telehealth weight management providers
Companies offering online consultations and medication treatments, with stronger brand recognition and greater resources in the healthcare market 1.
- Pharmaceutical companies with weight-loss medications
Producers of injectable and oral weight-loss drugs that can offer treatments directly to patients or through partners 1.
- Nutrition and tracking apps
Apps and wearable devices offering free or low-cost tracking of diet and activity 1.
- Commercial weight-loss programs
Other weight management programs competing for the same consumers 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (amendment)21 Sept 2026Departure or appointment of officers
- Current report09 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report15 Jun 2026Shareholder vote
- Current report15 May 2026Departure or appointment of officers
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Proxy statement30 Apr 2026
- Current report27 Apr 2026Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / WW International, Inc. · 16 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / WW International, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / WW International, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.