WeWork’s revenue rose by 11% between the second and third quarters of 2021, it has said in its first earnings report since becoming a publicly traded company.
The flexible office giant said total revenue for Q3 was $661m (£492m), while it saw a loss per share of $4.54. That marks an improvement from the loss of $5.51 per share in the third quarter of 2020.
Physical memberships hit 432,000, with a 56% occupancy rate, while memberships of its All Access product rose to 32,000 by the end of September – an increase of around 60% on the previous quarter.
The company reported a net loss of $844.3m for the quarter, compared with a loss of $999.5m a year earlier.
WeWork went public via a merger with a special purpose acquisition company last month, hoping to cash in on a rebound in demand for flexible offices following the pandemic-induced switch to hybrid working.
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