WW International, Inc. ( WW ) stock surged Monday after it reported second-quarter 2025 combined revenues of $189 million, down 6% from the prior year. Growth in Clinical subscriptions offset declines in the Behavioral segment.

Clinical subscription revenues rose 55% to $30.59 million, driven primarily by compounded semaglutide prescriptions, while Behavioral subscription revenues fell 12.7% to $157.3 million. Other revenues decreased 38% to $1.3 million.

Monthly subscription revenues per average subscriber increased for the third consecutive quarter, rising 11.6% year over year to $18.97.

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The quarter included a “Predecessor” period from March 30 to June 24, and a “Successor” period from June 25 to June 30 following the company’s June 24 emergence from financial reorganization. Predecessor net income was $1.19 billion, or $14.81 per diluted share, including reorganization impacts, with a net margin of 673%.

Successor net income was $1 million, or 13 cents per diluted share, with a net margin of 10%. Predecessor adjusted EBITDA was $61 million with a 34% margin, while Successor adjusted EBITDA was $4 million with a 37% margin.

End-of-period subscribers totaled 3.17 million, down 17% from a year ago. This included 3.04 million Behavioral subscribers and 127,000 Clinical subscribers.

Incoming subscribers declined 14% to 3.43 million. Monthly behavioral subscription revenue per average subscriber rose 5.6% to $16.54, while clinical subscription revenue per average subscriber was flat at $78.00.

The company said recruitment challenges in Behavioral were compounded by headlines surrounding the financial reorganization. Clinical subscriber growth reflected increased demand for GLP-1 medications, with a transition from compounded semaglutide to FDA-approved alternatives beginning May 22 in line with FDA guidance.

WW completed its strategic reorganization during the quarter, reducing debt by $1.15 billion and strengthening its capital structure.

As of June 30, 2025, the company held $185.5 million in cash and cash equivalents, including restricted cash, and had $465.5 million in long-term debt. Operating cash flow for the Successor period was $11.5 million.

Outlook

For full-year 2025, the company expects total combined revenues of $685 million to $700 million and adjusted EBITDA of $140 million to $150 million.

CEO Tara Comonte said, “This marks the beginning of an exciting new chapter for the company, one that’s grounded in stronger financial footing and a clear sense of opportunity.” CFO Felicia DellaFortuna added, “With a strengthened capital structure, we are better positioned to invest in growth, support innovation, and scale efficiently, while maintaining the financial discipline needed to drive long-term profitability.”

Price Action: At last check Monday, WW shares were trading higher by 8.19% to $41.35 premarket.

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