transaction costs in connection with the acquisition of Sequence. In addition, the Company presents certain of its financial results on a constant currency basis in addition to GAAP results.
Constant currency information compares results between periods as if exchange rates had remained constant period-over-period. The Company calculates constant currency by calculating current-year results using prior-year foreign currency exchange
rates.
Management believes these non-GAAP financial measures provide useful supplemental information for its and
investors evaluation of the Companys business performance and are useful for period-over-period comparisons of the performance of the Companys business. While management believes that these
non-GAAP financial measures are useful in evaluating the Companys business, this information should be considered as supplemental in nature and should not be considered in isolation or as a substitute
for the related financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly entitled measures reported by other companies. See
Reconciliation of Non-GAAP Financial Measures attached to this release and reconciliations, if any, included elsewhere in this release for a reconciliation of the
non-GAAP financial measures to the most directly comparable GAAP measures.
About WW International, Inc.
WeightWatchers is a human-centric technology company powered by our proven, science-based, clinically effective weight loss and weight management program. For six
decades, we have inspired millions of people to adopt healthy habits for real life. We combine technology and community to help members reach and sustain their goals on our program. To learn more about the WeightWatchers approach to healthy living,
please visit ww.com. For more information about our global business, visit our corporate website at corporate.ww.com.
This news release and any attachments
include forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, any guidance and any
statements about the Companys plans, strategies, objectives, initiatives, roadmap and prospects. The Company generally uses the words may, will, could, expect, anticipate,
believe, estimate, plan, intend, aim and similar expressions in this news release and any attachments to identify forward-looking statements. The Company bases these forward-looking
statements on its current views with respect to future events and financial performance. Actual results could differ materially from those projected in the forward-looking statements. These forward-looking statements are subject to risks,
uncertainties and assumptions, including, among other things: the impact of the COVID-19 pandemic on the Companys business and on the consumer environment and markets in which the Company operates;
competition from other weight management and wellness industry participants or the development of more effective or more favorably perceived weight management methods; the Companys failure to continue to retain and grow its subscriber base;
the Companys ability to continue to develop new, innovative services and products and enhance its existing services and products or the failure of its services, products or brands to continue to appeal to the market, or its ability to
successfully expand into new channels of distribution or respond to consumer trends or sentiment; the ability to successfully implement strategic initiatives; the Companys ability to transform its Workshops + Digital business strategy to meet
the evolving needs of its members; the effectiveness and efficiency of the Companys advertising and marketing programs, including the strength of the Companys social media presence; the impact on the Companys reputation of actions
taken by its franchisees, licensees, suppliers and other partners, including as a result of its acquisition of Weekend Health, Inc., which is doing business as Sequence (Sequence) (the Acquisition); the recognition of asset
impairment charges; the loss of key personnel, strategic partners or consultants or failure to effectively manage and motivate the Companys workforce; the Companys chief executive officer transition; the inability to renew certain of the
Companys licenses, or the inability to do so on terms that are favorable to the Company; the early termination by the Company of leases; uncertainties related to a downturn in general economic conditions or consumer confidence, including as a
result of the existing inflationary environment, the potential impact of political and social unrest and instability in the banking system as a result of several