WW acquires Sequence for $132M; Q4 revenue $223.9M, operating loss $50.8M

WW INTERNATIONAL, INC.

Acquires Weekend Health (Sequence) for $132M ($106M net of cash); $65M cash + $35M stock at close, $16M each on 1st and 2nd anniversaries.
Sequence has ~$25M annual revenue run-rate and ~24,000 members; expected close Q2 2023.
Q4 revenue $223.9M (-18.8% YoY); operating loss $50.8M includes $57.6M impairment; adjusted operating income $24.2M.
Full year 2022 revenue $1.04B; operating loss $283.0M includes $396.7M impairment; adjusted operating income $153.5M.
Q1 2023 guidance: revenue ~$235M; operating loss ($30M)-($35M) including ~$20M restructuring charges.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WW INTERNATIONAL, INC. reported financial results for fourth quarter and full year fiscal 2022.

Period: fourth quarter and full year fiscal 2022
Result: reported results

Exact text from the filing

On March 6, 2023, the Company issued a press release announcing its financial results for its fiscal quarter and fiscal year ended December 31, 2022.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WW INTERNATIONAL, INC. entered into Merger Agreement with Weekend Health, Inc. valued at $132.0 million (effective 2023-03-04).

Action: entry
Agreement: merger
Counterparty: Weekend Health, Inc.
Value: $132.0 million
Effective: 2023-03-04

Exact text from the filing

On March 4, 2023, WW International, Inc. (the “Company”), Well Holdings, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company (“Merger Sub”), Weekend Health, Inc., a Delaware corporation (“Weekend Health”), and Fortis Advisors LLC, a Delaware limited liability company, solely in its capacity as the Equityholders’ Representative for Weekend Health, entered into an Agreement and Plan of Merger (the “Merger Agreement”).

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WW INTERNATIONAL, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-061389

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