WeWork reported a net loss of $1.25 billion in the most recently completed quarter, a period of heavy spending during which the co-working company attempted to go public. That compares to a loss of $497 million in the same quarter a year earlier, according to a financial document obtained by CNN Business. The document was first reported on by Bloomberg, which said it was presented to bondholders Wednesday.
The company reported revenue of $934 million for the quarter, up from $482 million a year earlier.
WeWork declined to comment.
The financial documents showed WeWork had cash on hand of $2 billion as of September 30.
In an email to staffers last week obtained by CNN Business, Claure said: “I do want to emphasize the business is secure.” He said the company is in the process of finalizing an updated five-year plan. Claure said that plan will be presented to WeWork’s board on November 19.