WOTSO FlexSpace (ASX: WOT), a provider of flexible workspace solutions, today announced its Q1 FY26 update, reporting a 5% year-on-year revenue increase to $8.3 million. WOTSO operates flexible workspace locations, offering businesses and individuals a range of office and co-working solutions. The company’s Q1 performance was underpinned by strong occupancy rates and the launch of a new site in Sydney CBD.
Occupancy across WOTSO’s network rose to 80% in Q1 FY26, up from 75% in Q4 FY25. This increase was attributed to the rapid uptake of space at recently launched sites. While the company had planned to open three new locations during the quarter, projects in Whangarei and Te Tōangaroa experienced delays and are now expected to launch early in Q2. The newly opened Sydney CBD site added 42 desks to the company’s capacity.
WOTSO also highlighted the growing contribution of ancillary revenue streams, including casual meeting room hire and virtual office services. Virtual office revenue has seen the most notable growth. The company’s focus for FY26 is on leveraging existing inventory to drive top-line growth and maintain sustainable profitability. The Q1 contribution margin remained strong, reflecting WOTSO’s operational efficiency.
For further information, WOTSO’s investor relations team can be contacted on +61 2 9157 4069 or invest@wotso.com. This announcement was authorised by Agata Ryan, Company Secretary.
