Key highlights from the third quarter of 2026

Revenue growth across the network

Quarterly system-wide revenue of $1.26bn represents over $5bn on an annualised run-rate basis. Group revenue increased by 9% year-on-year to $1.03bn. The Company-owned business delivered revenue growth of 8% compared with the same period last year.

 

More than 5000 open centres worldwide

IWG signed 332 new locations and opened 211 centres in the third quarter, taking the global network to more than 5,000 open centres. The Managed & Franchised business comprised 2,385 open centres at the end of September, up 41% year-on-year.

 

Continued growth in Managed & Franchised

Managed & Franchised fee revenue increased by 28% year-on-year to $45m. Within this, recurring managed fee revenue rose by 72% to $19m, as previously signed locations opened and existing centres continued to mature.

 

Continued share buybacks

IWG returned $139m to shareholders through share buybacks in the first nine months of 2026, including $39m in the third quarter. The Company increased its full-year share buyback programme to up to $200m.

 

Christian Schmitz, Chief Executive Officer of International Workplace Group plc, said:

“This has been another strong quarter, with revenue growth across the business and continued momentum in our Managed & Franchised operations. We have also reached two significant milestones: our global network now exceeds 5,000 centres and quarterly system-wide revenue has reached $1.26bn representing over $5bn on an annualised run-rate basis.

Our flexible workspace offering meets the needs of clients around the world as they respond to economic uncertainty and to their employees' desire to work flexibly. The Managed & Franchised flywheel continues to build momentum, and we are now able to optimise our cost base without compromising growth. The Group is well placed to deliver full-year results in line with our expectations and to enter 2027 as a continued strong platform for further growth and enhanced shareholder returns.”

 

Outlook
IWG expects 2026 Adjusted EBITDA of $585m–$625m, with the result expected to be above the analyst consensus of $599m as at 2 November. Adjusted EBITDA is earnings before interest, tax, depreciation and amortisation, adjusted for certain items. The Company also reiterated its medium-term target of at least $1bn of Adjusted EBITDA.

 

You can see the full Q3 report HERE.