When The We Company pulled its IPO for WeWork in September it stopped disclosing its financial statements in the full, formal way required by SEC rules.
Instead, as the crisis at the company rumbles on, it published a less formal Q3 2019 presentation to investors,. That deck shows WeWork suffered a net loss of $1.3 billion on revenues of $934 million in Q3.
When you plot the company’s revenue growth against its growing losses you get a dramatic snapshot of just how ugly WeWork’s business is right now;
What the above chart shows, however, is a company whose losses are increasing as time goes by. The more WeWork grows, the worse it gets. WeWork now spends about $2.25 in order to generate every $1 in revenue.