Revenue guidance reflects a $55M year-over-year headwind from the strategic decision to wind down the company’s low-margin consumer products business. Sees FY24 operating income $100M-$110M. The company said, “Changes to modernize the Company’s technology organization required the Company to update its capitalized labor rate expectations. Based on these updated expectations, an estimated $9.0 million of expenses that were previously expected to be capitalized will now be reflected on the income statement in 2024. This shift in operating methodology does not impact cash.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on WW:
- WW International, Inc. Announces Fourth Quarter and Full Year 2023 Results
- WW International, Inc. Announces Upcoming Oprah Winfrey Board Transition
- WW Earnings this Week: How Will it Perform?
- Short Report: Bears boost WW exposure ahead of earnings after marketing debacle
- WW hits 52-week low after report on Ozempic hype house backlash