WeWork Parent We Co. may have made some positive steps to clean up its act as its IPO got into trouble, but a close look at changes to a recent SEC filing reveals some problems with profitability that are tough to remedy. That’s according to IPO Edge Editor-in-Chief John Jannarone, who told Cheddar TV that the company changed some key language around the profit potential of individual locations. Using a redline feature with Sentieo, Jannarone published an analysis of the changes available on IPO Edge. In addition to the apparently weaker profit potential of individual locations, the analysis revealed that the company is entering lower-margin markets and has stopped disclosing a dollar amount on the backlog of booked locations.
