Weight Watchers International Inc (NASDAQ:WW) Q2 2022 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 05:00 pm ET


Weight Watchers International Inc (NASDAQ:WW) Q2 2022 Earnings Conference Call - Final Transcript


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Good day, and welcome to the WW International Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Corey Kinger, Vice President, Investor Relations. Please go ahead. It seems we are experiencing some technical difficulties. Please stand by while this issue is resolve.

Corey Kinger

Thank you to everyone for joining us today for WW International's Second Quarter 2020 Conference Call. At about 4:00 p.m. Eastern Time today, we issued a press release reporting our second quarter 2020 results. The purpose of this call is to provide investors with some further details regarding the Company's financial results as well as to provide a general update on the Company's progress. The press release is available on the Company's corporate website located at corporate.ww.com. Supplemental investor materials are also available on the Company's corporate website in the Investors section under Presentations & Events. Reconciliations of non-GAAP measures disclosed on this conference call to the most directly comparable GAAP financial measures are also available as part of the press release.

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

I will now turn the call over to Mindy.

Mindy F. Grossman

Thanks, Corey. Good afternoon, everyone. Thank you for joining our call today. I hope that all of you, along with your family, your friends are safe and healthy. We began our strategic shift to a purpose-driven and deeply impactful technology experience Company long before March of 2020. However, there is no doubt that our digital transformation has accelerated with the onset of COVID-19. Our digital-first strategy is both obvious and evident in our strong second quarter results.

As we indicated in our mid-June update, digital member trends have had strong momentum and with their favorable margins are the key drivers of our future growth and profitability. Although 2020 has certainly been a year of unique and unprecedented challenges for us all, it has also served to reinforce our belief in our strategy, the resilience of our business model, and the relevance of our global brand as well as the significant opportunity we have for WW to positively impact people's lives. The recent trends in our business demonstrate that consumers are looking for a