Last year was a challenging one for WeWork, with $2.6 billion in revenue, which was a nearly 25% drop from the previous year's $3.4 billion or 2019's $3.5 billion. The net loss of $4.4 billion compares to $3.1 billion in 2020 and $3.3 billion for 2019. Loss from operations was $3.7 billion.
But WeWork offered guidance of between $3.35 billion and $3.5 billion in revenue for 2020, a 30% jump from last year. The expected increase is likely based on the movement of corporations to bring people back into offices, even if not full time, and the developing need for more flexible office options.
The company "ended the year with $1,974 million in cash and unfunded cash commitments, including approximately $924 million of available cash on hand, $550 million available under our senior secured note facility, and an additional $500 million in letter of credit facility capacity."
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