WeWork Results Presentation Deck
GAAP to non-GAAP reconciliation
US$ millions
Adj. EBITDA
Net loss
Income tax (benefit) provision
Interest and other (income) expenses, net
Depreciation and amortization.
Restructuring and other related costs
Impairment / (gain on sale) of goodwill, intangibles and other assets
Stock-based compensation expense
Other Net
Adj. EBITDA
Less: ChinaCo Adj. EBITDA
Adj. EBITDA Excluding ChinaCo
Building Margin
Location Gross Profit / (Loss) Including Depreciation &
Amortization
Depreciation and amortization
Location Gross Profit / (Loss) Exclusive of Depreciation &
Amortization
Unconsolidated management fee revenue
Stock-based compensation expense
Indirect location operating expenses
Building Margin
19
Q1'19
($267)
5
(378)
125
145
(41)
($411)
(48)
($362)
Q1'19
($26)
103
$77
(1)
18
31
$124
Q2'19
($638)
0
(92)
131
Q3'19 Q4'19
($1,252) ($1,618)
36
4
136
157
15
199
43
31
59
32
($524) ($651)
(59) (73)
($465) ($577)
Q2'19 Q3'19
($12) ($27)
108
$96
(2)
2
42
$138
121
$94
(2)
11
44
$147
144
177
315
136
127
68
($615)
(77)
($538)
Q4'19
($45)
147
$102
0
11
48
$161
Q4'20 Q1'21 Q2'21 Q3'21
($1,168) ($2,062) ($923) ($844)
Q4'21
($803)
Q1'20
($556)
9
(465)
194
56
275
3
553
184
494
299
4
68
180
(28)
242
(2)
206
171
16
88
(2)
103
174
(48)
241
23
54
4
4
15
48
4
($449) ($356) ($283)
4
Q2'20 Q3'20
($1,110) ($999)
7
6
(2)
76
(38) (105)
196
198
191
81
19
52
280
254
546
12
9
7
22
24
7
29
($449) ($436) ($527) ($472) ($446)
(56) (39) (35)
($393) ($397) ($492)
Q1'20 Q2'20 Q3'20
($99) ($204) ($346)
164
166
174
$65 ($38) ($172)
(1)
5
1
3
45
$113
(1)
3
34
($2)
28
($144)
($472) ($446)
Q4'20 Q1'21
($382) ($414)
175
($239)
(4)
9
25
($209)
181
($201)
(3)
1
21
($183)
($449) ($356) ($283)
Q2'21 Q3'21 Q4'21
($386) ($288) ($201)
170
164
($215)
($37)
(1)
(2)
5
1
24
($192)
162
($125)
(2)
1
24
($103)
26
($9)
Q1'22
($504)
(1)
147
171
(130)
91
13
1
($212)
($212)
Q1'22
($147)
158
$11
(3)
2
24
$34
2
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