SEC Flags Benchmark That Obscured WeWorkâs Bottom Line
PYMNTS
DECEMBER 3, 2019
The company used generally accepted accounting principles (GAAP) to essentially turn a $1.9 Using this cash-flow metric, WeWork was able to deduct about $900 million in leasing costs and building expenses from the revenue it took in from members and services. billion net loss into a $142 million profit.
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