Following a disappointing Q2, coworking company WeWork is reportedly unsure of its ability to stay in business.
Based on WeWork’s losses, membership turnover rates and anticipated cash needs, “substantial doubt exists” about the company’s future.
After WeWork’s $397 million net loss in Q2, the coworking company says it needs to work on lowering rent costs and reduce membership cancellations across the next 12 months.
WeWork’s stock fell 20% in after-hours trading Tuesday and is now down 85% from the beginning of the year.
