The company's shift to higher-value Clinical and Core+ offerings is driving profitability improvement, but the continued erosion of the behavioral subscriber base (down 26% YoY) remains a headwind. Monitor whether the subscriber stabilization and ARPU growth can offset the revenue decline in coming quarters.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 5 $12.84entry
- T+1 · 5d ago −11.92%α −12.23% · $11.31
- T+3 · todayOpen
- T+5 · tomorrow Pending
- T+20 · in 23d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
WW International reported Q3 2026 revenue of $152.9M, down 11% YoY, but swung to a net income of $15.1M from a $57.5M loss a year ago. Clinical subscription revenue grew 48% YoY to $38.0M, and the company narrowed its full-year revenue guidance to $625M-$630M and raised its Adjusted EBITDA guidance to $110M-$115M. The positive net income and guidance raise are notable, but the ongoing revenue decline from the shrinking behavioral business tempers the outlook.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $152.9M, down 11% YoY from $172.1M
- Clinical subscription revenue of $38.0M, up 48% YoY, representing 25% of total revenue
- Net income of $15.1M vs net loss of $57.5M in Q3 2025
- Adjusted EBITDA of $51.7M, up 21% YoY from $42.8M, with a 33.8% margin
- Full-year 2026 revenue guidance narrowed to $625M-$630M from $620M-$635M
- Full-year 2026 Adjusted EBITDA guidance raised to $110M-$115M from $105M-$115M
- End of Period Clinical subscribers up 40% YoY to 174K; Core+ subscribers up 16% YoY to 546K
- Total End of Period subscribers down 23% YoY to 2.3M, driven by a 26% decline in behavioral subscribers
- Cash and cash equivalents of $126.4M at quarter end, up from $101.5M at Q2 2026 end
Financial Impact
Revenue decline of 11% YoY, but net income swing of +$72.6M YoY; guidance raised for Adjusted EBITDA by $5M at midpoint
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Behavioral Subscription Revenue | $113.9M | -21.5% |
| Clinical Subscription Revenue | $38.0M | +47.6% |
Risk Factors
- Continued decline in behavioral subscribers (down 26% YoY) may pressure total revenue
- Revenue still down 11% YoY despite clinical growth, indicating structural challenges
- Company emerged from bankruptcy in June 2025, and financial statements are not fully comparable year-over-year due to fresh start accounting
- High debt load ($423.97M net long-term debt vs $293.3M equity) remains a risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-448523 |
| Document: d135726dex992.htm | 0001193125-26-448523 |
| Document: d135726d8k.htm | 0001193125-26-448523 |
| Document: 0001193125-26-448523-index-headers.html | 0001193125-26-448523 |
| Document: 0001193125-26-448523-index.html | 0001193125-26-448523 |
| Document: 0001193125-26-448523.txt | 0001193125-26-448523 |
| 8-K Data (Synthetic) | 0001193125-26-448523 |
Track record
19 reports on WW
3 of 5 bullish or bearish reports moved the stock their way by T+5. Best: +9.16% at T+20 after the Apr 3, 2026 report. 4 of 5 went positive at some point.
Filters
- Nov 10, 2026today Insider Cluster Bullish 4/10 Entry $12.42 Now $12.02 −3.22% settles Nov 18
- Nov 10, 2026today Insider Buy Neutral 2/10 Entry $12.42 Now $12.02 −3.22% settles Nov 18
- Nov 5, 20265d ago 8-K Mixed 6/10 Viewing Entry $12.84 Now $12.02 −6.39% settles Nov 12
- Oct 13, 202628d ago SC 13G/A Bearish 4/10 Entry $14.27 to $14.20 Now $12.02 +15.77% ▲ +0.49% +0.94% vs SPY
- Sep 9, 20268w ago 8-K Neutral 4/10 Entry $14.94 to $15.44 Now $12.02 −19.54% ▲ +3.35% +4.44% vs SPY
- Aug 20, 202611w ago Insider Buy Bullish 5/10 Entry $15.71 to $16.20 Now $12.02 −23.49% ▲ +3.12% +2.65% vs SPY
- Jul 23, 202615w ago Press Release Neutral 1/10 Entry $13.34 to $13.90 Now $12.02 −9.90% ▲ +4.20% +3.82% vs SPY
- Jun 16, 202621w ago Press Release Bullish 5/10 Entry $19.05 to $17.55 Now $12.02 −36.90% ▼ −7.87% −6.83% vs SPY
- Jun 4, 202622w ago DEFA14A Neutral 5/10 Entry $17.27 to $19.58 Now $12.02 −30.38% ▲ +13.41% +15.96% vs SPY
- May 27, 202623w ago Insider Cluster Bullish 5/10 Entry $17.10 to $16.13 Now $12.02 −29.71% ▼ −5.67% −5.62% vs SPY
US Market Status
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