SEC Flags Benchmark That Obscured WeWork’s Bottom Line
PYMNTS
DECEMBER 3, 2019
The We Company , the parent of WeWork , uses a cash-flow metric called the “contribution margin,” which showed that its core services were profitable, Bloomberg Tax reported on Tuesday (Dec. The company used generally accepted accounting principles (GAAP) to essentially turn a $1.9 billion net loss into a $142 million profit.
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