Ok I thought you mean the overall business model in general, what you asking is more of operations and ongoing business activities. Most of the time I am not too concern about the details like that, I am after a bigger picture as it will incorporate most of that and smooth things out, else you get bogged down with too much details
I wasn't on the call, whatever I need is in the reported number unless I have time for Alf entertainment
but hopefully this general sum up can satisfied some of your query
Servcorp has probably 50,000 business plus using its services and its four services (Virtual offices, Serviced Offices, Co-working Spaces, IT Solutions) would at any one time has a range of business clients mixed from start-up to multi-nationals corporation and obviously the number mixed will varies from month to months and year to year and that will reflect in their revenue and cash flow
their Serviced Offices cater for small to medium business and their Virtual offices cater for business looking for prestigious address nice meeting room so I say maybe this mixed is target at bigger clients who want to seal the deal at exotic locations.
I think you have nothing to worry about with SRV, I say they are the top dog in this space with premium offering and services most of their rival can't provide.
The like of WeWork will come and go with their cheap money and debt and others try to copy and imitates Servcorp like Victory offices (ASX:VOL, now bankrupted)
they all had a go and they all failed so what Servcorp got is not your average virtual office offering but something else rival cant replicate.
(20min delay)