Comet continues its growth trajectory and returns to profitability

After a forced shutdown in March 2020 and a gradual recovery through decommissioning, Comet posted solid results at the end of 2022, with sales of €27 million over 10 ^months1. The company is therefore returning to profitability, in line with its forecasts. This growth is driven not only by service offerings designed to help companies cope with hybrid work organization, but also by rhythmic European expansion. This trend is faithful to the model advocated by Comet's founders since the company's creation in 2016, namely the reasoned articulation of the growth-profitability duo. Following this development curve, Comet will open new locations in Europe between now and 2024.

Turning crisis into opportunity ‍

Comet achieved profitability as early as 2017, 1 year after its creation. The pandemic brought its activities to a halt, and they were only able to resume very gradually, returning to a stable level of activity by the end of Q1 ²⁰²²¹. 2021 was devoted to preparing for the opening of its first locations outside France, in Brussels and Madrid. The company took advantage of its accumulated experience to develop new offerings, enabling companies to adapt to new work organization models and the economic challenges of office real estate.

Results in figures

" From the outset, Comet's main concern has been to pursue a rational growth model, reconciling growth and profitability. At the time, this was a singular choice in a context of record fund-raising for French startups, and it had the virtue of forcing us to remain focused on the value we deliver to our customers. This is how we developed our new offerings, in particular Comet Workplaces. Customer acceptance is very natural, because we give them access to what they really want ", explains Victor Carreau, co-founder and CEO of Comet.

‍Comet Meetings in Belgium

‍Comet Meetings celebrated its 1-year anniversary in December in Brussels. During this premiere, Comet Meetings Louise can boast of having welcomed nearly 1,000 events and meetings within its walls, as well as almost 20,000 participants, with the aim of offering them moments of gathering filled with meaning and creativity. This emblematic venue, designed in collaboration with Belgian architect Lionel Jadot, also attracted a lot of attention: hundreds of curious companies and entrepreneurs came to visit it.

2023: focus on work hybridization and European expansion ‍

While the core of Comet's offering is based on "Meetings", its historic flagship solution, the company aims to accelerate its development with "Workplaces", its new offering designed to meet the new challenges facing decision-makers in terms of work organization and corporate real estate.

"100% telecommuting or 100% face-to-face work at head office are no longer models for team development and performance. Hybridization of organizations will continue to spread to meet these two objectives. After all, the company is a living organism, which must constantly adapt to new challenges and economic contexts.More and more decision-makers are concerned about reducing their office space while offering their staff places dedicated to "working well together", and Comet has a real answer for them today",explains Victor Carreau, CEO of Comet.

After Brussels and Madrid, Comet will also be pursuing its expansion strategy in Europe, either to strengthen its presence in existing countries, or to enter new ones. On the latter point, it is currently targeting Italy and Germany. Comet's ambition is to open at least one new location in Europe per year, depending on the maturity of the markets addressed in terms of hybrid work.

¹ The takeover of 100% of Omicron's post-variant activities took place on 01/03/2022, i.e. 10 months of actual activity during the year.