Future Of Work Opportunity & Quarterly Financial Results
Quarterly Financial Results
US$ millions
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Membership & Services Revenue
Other Revenue
Total Revenue
Location Operating Expenses
759
665
612
579
565
627
696
Q1'22
747
Q2'22
801
55
76
54
19
28
34
21
18
14
$814
$741
$666
$598
$593
$661
$718
$765
$815
(794)
(836)
(813)
(809)
(780)
(752)
(729)
(734)
(734)
Pre-Opening Expenses
(74)
(60)
(46)
(33)
(43)
(40)
(42)
(47)
(38)
SG&A (1)
(343)
(338)
(279)
(201)
(219)
(225)
(230)
(196)
(177)
Adj. EBITDA
($397)
($492)
($472)
($446)
($449)
($356)
($283)
($212)
($134)
Building Margin & Physical Membership ARPM
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Membership & Services Revenue
759
665
612
579
565
627
696
747
801
Less: Unconsolidated Management Fee Revenue
1
1
3
4
1
2
2
3
5
Adj. Membership & Services Revenue (A)
$758
$665
$609
$575
$564
$625
$694
$744
$796
Less: All Access & On Demand Revenue
Physical Membership Revenue (B)
9
13
20
29
36
45
$758
$665
$609
$567
$551
$605
$665
$708
$751
Location Operating Expenses
(794)
(836)
(813)
(809)
(780)
(752)
(729)
(734)
(734)
Less: Indirect Location Operating Expenses
(34)
(28)
(21)
(25)
(24)
(24)
(26)
(24)
(24)
Adj. Location Operating Expenses (C)
($760)
($808)
($792)
($784)
($756)
($728)
($703)
($710)
($710)
Building Margin (A - C)
% Building Margin
($2)
($144)
($183)
($209)
($192)
($103)
($9)
$34
$86
0%
(22%)
(30%)
(36%)
(34%)
(16%)
(1%)
5%
11%
Average Physical Memberships (D)
Physical Membership Monthly ARPM (B/D)
ARPM at Company's Budget FX Rate
507k
439k
397k
378k
381k
416k
458k
488k
521k
$499
$505
$512
$500
$482
$485
$484
$484
$481
$497
1. SG&A exclusive of stock-based compensation and other expenses excluded from Adjusted EBITDA
24
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