Overview Key strengths Key risks Potential for clinical service business to lead a company turnaround. Weak subscriber trends across the weight loss industry. Well-recognized WeightWatchers franchise. Intense competition from numerous weight loss channels, including digital applications. Historically generates positive free operating cash flow (FOCF). Emerging clinical business brings numerous risks and uncertainties. Large base of potential customers. Reduced, albeit still adequate, liquidity following the clinical business acquisition. We expect consumer interest in diabetes drugs repurposed for weight loss to remain very high, with pharmaceutical companies recently reporting solid double-digit percent growth in North America for glucagon-like peptide 1 (GLP-1) drugs, a class of medications that manage blood sugar. People using these types of drugs--which include Ozempic, Wegovy, and Mounjaro--for weight
