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International Workplace Group revenue hits record $2.4bn, but cash flow sends shares sharply lower
International Workplace Group plc delivered record system-wide revenue and accelerated its flexible-office expansion in the first half of 2026, but negative cash flow and limited EBITDA growth exposed the financial challenge behind its capital-light strategy.
Can Christian Schmitz turn IWG’s capital-light expansion into dependable cash flow?
Christian Schmitz is taking control of International Workplace Group as founder Mark Dixon moves to executive chair, placing debt, operational efficiency and capital-light expansion at the centre of the flexible-workspace provider’s next phase.