WeWork stock has risen 1.2 % in premarket trading on Monday, as the firm cut its third-quarter loss while also reporting greater desk sales and occupancy for October.

The third quarter's adjusted EBITDA loss was $356 million, down $93 million from the previous quarter's deficit as the company signed up more clients. The reopening of the economy, as well as the widespread vaccination of the workers, resulted in an increase in commercial activity. Revenue increased by 11% to $661 million.

Download WeWork Logo in SVG Vector or PNG File Format - Logo.wine

WeWork's total gross desk sales, including renewals, totaled 155,000, amounting to 9.3 million square feet. In the same time period, 84,000 new desks were sold. Preliminary gross desk sales of 45,000 square feet equated to 2.7 million square feet in October, while preliminary fresh desk sales were 25,000 square feet.

When compared to traditional commercial office leasing activity, WeWork stated it continued to take an outsized share of overall market leasing activity. WeWork says it sold the equivalent of almost 9% of U.S. office lease activity in the third quarter, but accounting for less than half of 1% of the country's office inventory.

Physical occupancy increased to 56 % at the end of September, up from 50 % at the end of June. Physical occupancy would rise to 60% with the addition of 30,000 net memberships already contracted to move in, according to the firm.

The quarter's net loss was $844 million, including $262 million in non-cash and non-recurring charges, principally due to depreciation, amortization, and impairments.