WOTSO FY26 slides: coworking network hits 40 sites, EBITDA up 1%

WOTSO released its FY26 financial results on August 25, 2026, indicating a modest expansion of its coworking network to 40 sites while maintaining stable overhead costs and only a 1% increase in underlying EBITDA to $10.12 million. Revenue grew by 4% to $48.75 million due to an 11% jump in Flexspace sales to $35.28 million, despite a 12% decline in real estate income to $13.1 million following the February 2026 sale of the Yandina asset.

The company's shares remained flat at $0.51 following the presentation, hinting at investors' concerns over earnings growth relative to network expansion. Revenue per available desk (RevPAD) rose 2% to $367, and same-location RevPAD increased by 6%. Occupancy remained stable at 97%, with average Flexspace occupancy at 79%. Management revealed three strategic initiatives to enhance value extraction: e-commerce expansion, demand-based pricing for meeting rooms, and the CookSpace commercial kitchen concept.