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Asana Shares Rally After Strong Q3 Results, Upbeat Guidance: Details - Asana (NYSE:ASAN)
Quarterly revenue comes in at $183.88 million, which beat the consensus estimate of $180.66 million. Asana, Inc. ASAN reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report. The Details: Asana reported quarterly losses of two cents per share, which beat the analyst consensus estimate for losses of seven cents. Quarterly revenue came in at $183.88 million, which beat the consensus estimate of $180.66 million and is an increase over sales of $166.5 million from the same period last year. The number of Core customers, or customers spending $5,000 or more on an annualized basis, grew to 23,609, an increase of 11% year-over-year. Revenues from Core customers grew 11% year-over-year. The number of customers spending $100,000 or more on an annualized basis grew to 683, an increase of 18%. Overall dollar-based net retention rate was 96%. Dollar-based net retention rate for Core customers was 98%. Dollar-based net retention rate for customers spending $100,000 or more on an annualized basis was 99%. Read Next: UnitedHealthcare CEO Brian Thompson Fatally Shot Outside NYC Hotel "The launch of AI Studio is the birth of a new category, unlocking a massive Total Addressable Market (TAM) and growth opportunity for the company," said Dustin Moskovitz, CEO of Asana. "While still early, we have seen significant demand, with customers experiencing meaningful productivity gains across their workflows. The productivity benefits and early traction not only validate the market demand for AI-powered work management solutions but also underscore Asana's leadership position in this space," Moskovitz added. Outlook: Asana sees fiscal 2025 adjusted losses of 15 cents to 14 cents per share, versus the loss of 19 cents estimate, and revenue of $723 million to $724 million, versus the $720.25 million estimate. ASAN Price Action: According to Benzinga Pro, Asana shares are up 20.44% after-hours at $18.62 at the time of publication Thursday. Read More: Art Cashin's Lessons: Cuban Crisis Trades To Timeless Wall Street Wit Image: Shutterstock Market News and Data brought to you by Benzinga APIs
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Asana Analysts Boost Their Forecasts After Upbeat Q3 Results - Asana (NYSE:ASAN)
Asana, Inc. ASAN reported better-than-expected third-quarter financial results and issued FY25 guidance above estimates on Thursday. Asana reported quarterly losses of two cents per share, which beat the analyst consensus estimate for losses of seven cents. Quarterly revenue came in at $183.88 million, which beat the consensus estimate of $180.66 million and is an increase over sales of $166.5 million from the same period last year. "The launch of AI Studio is the birth of a new category, unlocking a massive Total Addressable Market (TAM) and growth opportunity for the company," said Dustin Moskovitz, CEO of Asana. Asana sees fiscal 2025 adjusted losses of 15 cents to 14 cents per share, versus the loss of 19 cents estimate, and revenue of $723 million to $724 million, versus the $720.25 million estimate. Asana shares climbed 43.5% to trade at $22.16 on Friday. These analysts made changes to their price targets on Asana following earnings announcement. Piper Sandler analyst Brent Bracelin maintained Asana with a Neutral and raised the price target from $12 to $19. Baird analyst Rob Oliver maintained Asana with a Neutral and raised the price target from $13 to $19. JMP Securities analyst Patrick Walravens maintained the stock with a Market Outperform and boosted the price target from $21 to $25. Jefferies analyst Brent Thill maintained Asana with a Hold and raised the price target from $13 to $16. JP Morgan analyst Pinjalim Bora maintained the stock with an Underweight and boosted the price target from $13 to $15. Oppenheimer analyst Ittai Kidron maintained Asana with an Outperform and raised the price target from $20 to $22. Considering buying ASAN stock? Here's what analysts think: Read This Next: How To Earn $500 A Month From Oracle Stock Ahead Of Q2 Earnings Market News and Data brought to you by Benzinga APIs
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Here's Why Asana Stock Absolutely Skyrocketed Today | The Motley Fool
Shares of enterprise software company Asana (ASAN 43.14%) absolutely skyrocketed on Friday after it reported financial results for its fiscal third quarter of 2025 -- results that had the investing world feeling quite optimistic about its future. As of 9:50 a.m. ET, Asana stock was up about 40% and hitting 52-week highs. Asana offers workplace management software. With it, its customers set goals and track progress. The company expected Q3 revenue of $180 million to $181 million. But it generated Q3 revenue of nearly $184 million. Beating the top end of guidance by 1% seems incompatible with a 40% gain in Asana's stock price. But as you might have guessed, there's a little more to the story. Since the company went public in 2020, Asana's growth rate has plunged at an alarming pace, as the chart below shows. However, with Q3 results, Asana's management highlighted the recent launch of its artificial intelligence (AI) product, AI Studio. In short, its customers love it and some are bypassing a pilot period and diving straight into a subscription. Investors are hopeful not only that this will reinvigorate Asana's growth, but also that it might even expand the company's addressable market. And these developments are what investors are celebrating today. In the upcoming fourth quarter, Asana's management expects to generate revenues of $187.5 million to $188.5 million, which would represent 10% year-over-year growth. That's the same as its growth rate in the second quarter and in Q3, which does suggest that its slowdown is reaching a bottom. Asana has negative free cash flow of $10 million through the first three quarters of its fiscal 2025. But management expects positive free cash flow in Q4. With a successful AI launch, stabilizing growth, and positive free cash flow on tap, investors are justified in their excitement about Asana stock today.
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Asana's strong Q3 financial results, coupled with the successful launch of its AI Studio, have led to a significant stock rally and increased analyst optimism about the company's future growth prospects.
Asana, Inc. (NYSE:ASAN) reported impressive third-quarter results for fiscal 2025, surpassing analyst expectations. The company posted quarterly losses of two cents per share, beating the consensus estimate of seven cents per share. Revenue reached $183.88 million, exceeding the projected $180.66 million and marking an increase from $166.5 million in the same period last year 12.
The company's performance showed positive trends across various metrics:
CEO Dustin Moskovitz highlighted the launch of AI Studio as a significant milestone:
"The launch of AI Studio is the birth of a new category, unlocking a massive Total Addressable Market (TAM) and growth opportunity for the company," Moskovitz stated 12.
The introduction of AI Studio has generated substantial interest, with customers reporting significant productivity gains. This development not only validates the market demand for AI-powered work management solutions but also reinforces Asana's leadership position in this space 1.
Asana provided an optimistic outlook for fiscal 2025:
The positive results and outlook triggered a remarkable stock rally. Asana shares surged by 43.5%, trading at $22.16 on Friday 2.
Several analysts revised their price targets for Asana following the earnings announcement:
The successful launch of AI Studio has sparked optimism about Asana's future growth potential. Investors are hopeful that this new offering will not only reinvigorate the company's growth but also expand its addressable market 3.
While Asana's growth rate has declined since its 2020 IPO, the recent quarterly results suggest a potential stabilization. The company expects 10% year-over-year growth in the upcoming fourth quarter, consistent with its performance in Q2 and Q3 3.
Asana reported negative free cash flow of $10 million for the first three quarters of fiscal 2025. However, management anticipates positive free cash flow in Q4, further contributing to investor optimism 3.
The combination of a successful AI product launch, stabilizing growth, and the prospect of positive free cash flow has fueled excitement among investors, justifying the significant stock price increase following the earnings report.
Asana, the work management platform, saw its stock price drop significantly after releasing its Q2 2024 financial results and providing guidance below market expectations. The company's revenue growth and outlook disappointed investors, leading to a sharp decline in share value.
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Asana's stock drops over 25% following a weak revenue outlook and the surprise retirement announcement of CEO Dustin Moskovitz. The company's AI initiatives show promise, but challenges in customer retention persist.
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Citi analysts have reduced their price target for Asana shares while maintaining a neutral rating. The decision comes amid concerns over the company's growth trajectory and competitive landscape.
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Asana's Chief Operating Officer and Head of Product sell over $500,000 worth of company stock in separate transactions, raising questions about insider confidence.
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Asana, Inc., a leading work management platform, has published its Fiscal 2024 Environmental, Social, and Governance (ESG) Report, showcasing its commitment to sustainability, diversity, and social responsibility.
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