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Asana, Inc. (NYSE:ASAN) shares are climbing after the company reported its fourth-quarter financial results after the bell. Here's a look at the highlights.
The Details:
Asana reported quarterly losses of 4 cents per share which beat the analyst consensus estimate of losses of 10 cents by 60%.
Quarterly sales came in at $171.1 million, beating the analyst consensus estimate of $167.676 million by 2.04%.
Asana said the number of customers spending $5,000 or more on an annualized basis grew to 21,646, an increase of 11% year over year, and the number of customers spending $100,000 or more on an annualized basis grew to 607, an increase of 20% year over year.
Full-year 2024 revenues were $652.5 million, an increase of 19% year over year.
“Asana’s Q4 and fiscal year results beat expectations on the top and bottom line. Overall revenue growth was better than our guidance, and operating margin improved significantly during the year, as we target to be free cash flow positive by the end of this year,” said Dustin Moskovitz, CEO of Asana.
“Looking out to fiscal 2025, we have a unique opportunity to solve collaborative work problems with AI and the Asana Work Graph because organizations can leverage the most relevant and reliable context to make teams and organizations most effective,” Moskovitz added.
Outlook:
Asana sees first-quarter adjusted losses of between 9 cents and 8 cents per share, versus the loss of 8 cents per share estimate and first-quarter revenues in a range of $168 million to $169 million, versus the $168.25 million estimate.
The company expects fiscal year 2025 adjusted losses of between 22 cents and 19 cents per share, versus the losses of 22 cents estimate and fiscal year revenues of between $716 million and $722 million, versus the $724.75 estimate.
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ASAN Price Action: According to Benzinga Pro, Asana shares are up 2.21% after-hours at $19.20 at the time of publication.
Image: FellowNeko via Shutterstock
Posted In: ASAN
