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Home News

WeWork’s Prospectus Leaves Profitability Questions Unanswered

Aayat AlibyAayat Ali
September 3, 2019
in News
Reading Time: 1 min read
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The We Company is anticipated to start its initial public offering roadshow this week, where it is reportedly seeking $3 billion to $4 billion.

Investors are still struggling with the company’s business model, as it’s prospectus revealed it has yet to be profitable, continues to burn through cash and had major financial losses in the first half of this year.

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Despite having doubled its memberships annually to 528 locations and 527,000 memberships, it continues to lose money each year. More than that, the prospectus indicated no signs that the company would be profitable in the near future.

Concerns over WeWork’s financials could have been squashed had the company explained how their revenues could outweigh their expenses in the future, yet all they claim is to want to “elevate the world’s consciousness.”

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The S-1 filing reveals that each new WeWork workspace requires an initial investment before it becomes profitable, but it is difficult to calculate what it costs to build out and operate each WeWork location.

Overall, it is unclear what to expect from WeWork’s future of profitability, but based on the prospectus it seems as if a trend has already been established.

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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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