In a new company statement, WeWork announced its preliminary sales results for December 2021, indicating consistent growth thanks to rising demand for flexible workspaces despite a challenging macro environment.
According to Yahoo! Finance, WeWork experienced growth across several key sectors of its business model, including gross desk sales, occupancy numbers, and All Access memberships. This growth can be largely attributed to both large and small organizations transitioning to flexible working arrangements, a trend that was spawned by COVID-19.
Specifically, WeWork reported that it saw desk sales reach 66,000 during December, which is up from 55,000 in November 2021. During the fourth quarter of 2021, WeWork reported consolidated gross desk sales of 164,000 square feet, up from the 153,000 sold in the third quarter.
Furthermore, the coworking company noted that occupancy rates grew to 63% during December compared to the 56% seen during the end of the third quarter.
Memberships for WeWork’s All Access program also grew to 45,000 in December, an increase from the 41,000 reported during November.
Despite this continued growth, the company reported a net loss of $802 million during the third quarter of 2021. While revenue clocked in at $661 million, a decrease from the $811 million seen during the same time in 2020, this was an 11.5% increase from the second quarter of 2021.