discount and cash on hand (i.e., net debt); and a net debt/Adjusted EBITDAS ratio. 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. A reconciliation of the forward-looking full year EBITDAS outlook to net income cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact
of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of the Companys control, or cannot be reasonably predicted. For the same reasons, the Company is unable to assess the probable significance of
the unavailable information, which could have a material impact on its future GAAP financial results.
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 is not meant to 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 titled 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 programs. 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 programs. 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: competition from other weight
management and health 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 be a leader in the rapidly evolving and increasingly competitive clinical weight management and weight loss market; 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 evolve its community offerings to meet the evolving tastes and preferences 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, affiliated provider entities, PCs healthcare