WW International, Inc. (WW), a provider of weight management products and services, on Thursday reported a narrower first-quarter loss, although revenue declined amid weaker subscription sales. The company's shares were down more than 6% in pre-market trading.
WW International posted an operating loss of $30.44 million, compared with $20.2 million loss in the prior-year quarter.
Net loss narrowed to $52 million, from a loss of $72.6 million a year earlier. Loss per share was $5.50, compared with $0.91 last year.
Revenue declined to $168.26 million from $186.57 million in the corresponding quarter last year, mainly due to lower subscription revenue, which fell to $167.36 million from $185.18 million.
EBITDA was a loss of $3.13 million, compared with $14.63 million loss last year. Adjusted EBITDA stood at $1.84 million loss compared with a gain of $26.92 million.
For the full year, the company reaffirmed its outlook expecting revenue of $620 million to $635 million and adjusted EBITDA of $105 million to $115 million.
WW International stock closed at $11.80 on Wednesday, down 0.84%.
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