(Reuters) – Office sharing startup WeWork on Tuesday brought forward its target for becoming free cash flow positive by a year to 2022 and said it expects to post its first ever $1-billion revenue quarter this year.

The new financial targets are part of Chairman Marcelo Claure’s five-year turnaround plan. WeWork aims to achieve free cash flow of over $1 billion by 2024.

Three of WeWork’s board members – Mark Schwartz, Steve Langman and Lew Frankfurt – are stepping down as part of an overhaul of the board under Claure.

The company said Kirthiga Reddy, who was named to the board last week, will replace Ron Fisher as a representative of SoftBank Vision Fund.

WeWork also said it expects to reach 1,000 locations worldwide by 2021 and 1 million memberships by 2023.

As of the end of 2019, WeWork was present in 739 locations across 140 cities.

WeWork said reut.rs/2UIyLy8 it would have access to $2.5-$3.0 billion of additional liquidity for future growth, after completing a credit facility with Goldman Sachs.

The company said in December that it arranged a $1.75 billion letter of credit with Goldman Sachs that was in the process of being syndicated and whose funds were expected to be available in January.

Under the new credit facility, WeWork is not required to post any cash collateral and will have access to $800 million in working capital, which was restricted under the previous credit facility.

The credit line is part of SoftBank Group Corp’s $9.5 billion bailout that was announced in October when money-losing WeWork was on the brink of running out of cash after it botched its plans to go public earlier.

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