WeWork says “substantial doubt exists about the Company’s ability to continue”, as net margin is at -47%
Their 4% increase in revenue doesn't make up for the fact that net losses are still at -$397M for the quarter
$680M of liquidity, including $205M in cash and $475M of loan capacity.
Would last 2 more quarters based on current results.
“Substantial doubt exists about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is contingent upon successful execution of management’s plan to improve liquidity and profitability over the next 12 months.”
WeWork stock is down -37% today, which takes its market cap down to $278M