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
Stock-based payments for services rendered by consultants
Change in fair value of contingent consideration liabilities
Legal, tax and regulatory reserves and settlements
Legal costs related to regulatory investigations and litigations
Expense related to M&A, divestitures and capital raising activities
Adj. EBITDA
Less: China Co 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
25
Q1'19
($267)
5
(378)
125
145
5
(52)
6
($411)
(48)
($362)
Q1'19
($26)
103
$77
(1)
18
31
$124
Q2'19
($638)
0
(92)
131
43
5
9
2
15
($524)
(59)
($465)
Q2'19
($12)
108
$96
(2)
2
42
$138
Q3'19
($1,252)
4
136
157
15
199
31
5
(12)
2
66
($651)
(73)
($577)
Q3'19
($27)
121
$94
(2)
11
44
$147
Q4'19
($1,618)
36
144
177
315
136
127
5
(5)
0
68
($615)
(77)
($538)
Q4'19
($45)
147
$102
0
11
$161
Q1'20
($556)
9
(465)
194
56
275
23
5
(0)
0
9
1
($449)
(56)
($393)
Q1'20
($99)
164
$65
-
3
$113
Q2'20
($1,110)
7
76
196
81
280
12
5
(0)
1
12
6
($436)
(39)
($397)
Qz'20
($204)
166
($38)
(1)
3
34
($2)
Q3'20
($999)
6
(38)
198
19
254
9
5
0
0
20
(0)
($527)
(35)
($492)
Q3'20
($346)
174
($172)
(1)
1
28
($144)
Q4'20
($1,168)
(2)
(105)
191
52
546
7
(7)
0
12
2
($472)
($472)
Q4'20
($382)
181
($201)
(3)
1
($183)
Q1'21
($2,062)
3
553
184
494
299
54
(2)
7
23
1
($446)
($446)
Q1'21
($414)
175
($239)
(4)
9
($209)
Q2'21
($923)
4
68
180
(28)
242
4
0
0
(1)
3
($449)
($449)
Q2'21
($386)
170
($215)
(1)
1
($192)
Q3'21
($844)
(2)
206
171
16
88
4
0
0
3
3
($356)
($356)
Q3'21
($288)
162
($125)
(2)
1
24
($103)
Q4'21
($803)
(2)
103
174
(48)
241
48
0
1
2
2
($283)
($283)
Q4'21
($201)
164
($37)
(2)
5
26
($9)
T
FY¹19
($3,775)
46
(190)
590
329
335
347
20
(61)
4
-
155
($2,201)
(258)
($1,943)
FY'19
($110)
479
$369
(5)
42
165
$570
FY'20
($3,834)
20
(532)
779
207
1,356
51
8
(0)
2
53
8
($1,883)
(130)
($1,754)
FY'20
($1,032)
685
($347)
(5)
8
128
($215)
FY¹21
($4,632)
3
931
709
434
870
110
(2)
9
27
8
($1,533)
($1,533)
FY'21
($1,289)
672
($617)
(9)
15
($512)
wework
Ⓒ2022 WeWork.View entire presentation