WW International, Inc. (NASDAQ:WW) Q2 2023 Earnings Call Transcript

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So what ends up happening is that we can take in and account for their entire employee population and basically bucket people into where they fall on the spectrum of Weight Health needs, whether they need a lifestyle intervention, whether they need a lifestyle intervention plus clinical pathway, and then in which case how do we de-escalate that over time and get them either off the medication if it’s medically appropriate for that patient and/or move them to a different lower cost medication. And so this is work that we’re doing right now in active discussions with. Also, by the way, on the science side, we are running trials. We’re doing some in partnership with the Cleveland Clinic and other, institutions to show the efficacy of some of these plans.

And so just to say, yes, I mean, I think that we are really uniquely able to provide that because we have our intensive behavior therapy program, because it’s been around for 60 years, because it is the most studied evidence-based solution that is out there, and because we have the existing infrastructure across servicing enterprise clients. So that on the B2B side. Now what I want to say about our lifestyle program and why that matters for not just Sequence members, but anybody who’s getting these medications, whether or not they come to us from Sequence, is that you have to remember that less than 1% of medical providers have any sort of nutrition training or what we would say, American Board of Medicine Certified according to a 2021 survey of medical students in the U.S. and U.K., which this was published in the Journal of Human Nutrition and Dietetics.

Most students only receive an average of 11 hours of nutrition training throughout an entire medical program. My brother is a doctor. He only had one nutrition class. The reason I bring this up is that these medications and the ability to manage the side effects and get the outcomes that you’re seeing about and hearing about in these trials has to do with having alongside of it lifestyle intervention and also being able to manage across the entire time that you are on this journey titrating dosages up and down. And so this is a really high support process. It’s not just like other conditions where you might just take this one medication, whether it’s a statin or an ACE inhibitor, et cetera, and then just, that’s it, you take it. So anyways, all our clinicians participate, just to say that twofold, one is why it makes our Sequence program so unique, because the clinicians who are makes our Sequence program so unique, because the clinicians who are on our Sequence program get this training through a 12-week specialized onboarding period.

They get rigorous training, close oversight by the clinical leadership team, and they’re able to really guide our members with better empathy. I think that’s an important differentiator of our current program, but it also says why our lifestyle program would be important for any provider who is trying to support their patients. They can now recommend Weight Watchers and know that at least that that patient will be getting ongoing guidance on nutrient density, how to build lean muscle mass, how to think about various symptoms that they may be facing, et cetera.

Jason English : Good stuff. I’ll end it there. Thank you so much.

Sima Sistani : Thank you.

Operator: This concludes our question and answer session. I would like to turn the conference back over to Sima Sistani for any closing remarks.

Sima Sistani : I’m highly encouraged by the trends in our Q2 results, which are returning us to a subscriber growth trajectory. Not only will 2023 be an inflection point in our performance, but also be a year of dramatic improvement in our ability to help members achieve their goals through our portfolio of solutions to serve the full spectrum of Weight Health. We look forward to speaking with many of you at upcoming conferences, including at Morgan Stanley and the Baird Healthcare Conferences in September. Thank you for joining us today, and we look forward to updating you on our progress.

Operator: The conference is now concluded. Thank you for attending today’s presentation and you may now disconnect.

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