10-Q · May 7, 2026
WW International reported Q1 2026 results with revenue of $168.3 million, down 9.6% from $185.2 million year-over-year, and a diluted EPS loss of $5.20, which dramatically missed estimates of a loss of $2.07. Key growth…
WW earnings analysis
10-Q · Filed November 5, 2026 · Our reading of the company's report
The latest report
WW delivered a modest Q3 revenue beat and a substantial EPS beat, with diluted EPS of $1.51 versus $0.84 expected and $5.76 loss in Q3 2025. However, revenue fell 11.1% year over year to $152.9 million, and the filing…
Read full summary
WW delivered a modest Q3 revenue beat and a substantial EPS beat, with diluted EPS of $1.51 versus $0.84 expected and $5.76 loss in Q3 2025. However, revenue fell 11.1% year over year to $152.9 million, and the filing indicates continued subscriber and core-revenue pressure. Management narrowed FY2026 revenue guidance to $625 million-$630 million and raised the adjusted EBITDA floor to $110 million, but the new CEO transition and newly emphasized technology and customer-acquisition risks temper the improved profitability outlook.
Gross and operating margin
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One point per quarterly or annual filing. Both margins are shares of that report's revenue.
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Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.51
What stood out
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Revenue narrowly beat estimates
Q3 revenue was $152.9 million versus $152.7 million consensus, a $0.2 million beat, but declined 11.1% from $172 million in Q3 2025 and 5.7% from $162 million in Q2 2026.
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EPS beat and improved year over year
Diluted EPS was $1.51 versus $0.84 consensus, a $0.67 beat, and improved from a loss of $5.76 in Q3 2025 and $1.41 in Q2 2026.
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Clinical revenue growth accelerated
Clinical revenue growth accelerated in Q3, according to management, while the filing’s provided text does not disclose a clinical-revenue dollar amount.
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Revenue outlook narrowed
FY2026 revenue guidance was narrowed to $625 million-$630 million from $620 million-$635 million, while the midpoint remained $627.5 million.
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Adjusted EBITDA floor increased
The low end of FY2026 adjusted EBITDA guidance increased to $110 million from $105 million, with the high end unchanged at $115 million.
What to watch
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CEO transition creates execution risk
WW is undergoing a CEO transition: Tara Comonte resigned in March 2026, an interim office of the CEO was formed effective April 3, 2026, and Stephen J. Bye became CEO effective October 1, 2026. The filing warns the transition could disrupt operations and strategy or affect market perception.
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Technology and cyber disruption risk
The company added technology and cybersecurity risks, noting reliance on complex software, cloud systems and third parties, and that it does not have a fully redundant system with instantaneous recovery capability. The risk is particularly material because disruptions could affect websites, apps, subscription products and recurring billing.
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Customer acquisition pressure
WW added heightened marketing-acquisition risk, stating that the first quarter is its most important recruitment period and that it relies significantly on paid digital channels, primarily Google and Meta. Algorithm or policy changes across these 2 platforms could reduce traffic and increase customer-acquisition costs.
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Core revenue remains in contraction
Total revenue declined to $152.9 million from $172 million in Q3 2025, a decrease of $19.1 million, indicating continued pressure on the core business despite improved EPS.
Management's outlook
FY2026 revenue outlook was narrowed to $625 million-$630 million from $620 million-$635 million, leaving the midpoint unchanged at $627.5 million. Adjusted EBITDA guidance was raised at the low end to $110 million-$115 million from $105 million-$115 million. No numeric EPS guidance was provided.
Earlier filings 4
10-K · March 16, 2026
WW positions itself as the integrated destination for weight management in the GLP-1 era, combining its six-decade community/behavioral platform with a U.S. clinical offering that provides access to GLP-1 medications.…
10-Q · November 6, 2025
WW reported revenues of $172,091,000 in the three months ended September 30, 2025, down $20,796,000 (10.8%) versus $192,887,000 in the prior-year quarter, but delivered a positive operating income of $8,035,000 versus…
10-Q · August 1, 2024
WW reported quarterly revenue of $202,073,000 and diluted EPS of $0.29 for the three months ended June 29, 2024. Gross margin expanded to 67.9% and the company returned to operating income of $35,933,000 in Q2, although…
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