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Asana shares drop over 25% on weak outlook and Dustin Moskovitz retirement announcement - SiliconANGLE
Asana shares drop over 25% on weak outlook and Dustin Moskovitz retirement announcement Shares in Asana Inc. fell over 25% in late trading today after the work management software company fell short with its outlook that was delivered alongside otherwise reasonable quarterly earnings and announced that its Chief Executive Officer, Dustin Moskovitz, was retiring at the grand old age of 40. For its fiscal 2025 fourth quarter that ended on Jan. 31, Asana reported adjusted earnings per share of zero - break even, up from a loss of four cents per share in the same quarter of the previous fiscal year, on revenue of $188.3 million, up 10% year-over-year. Both figures were slightly above the loss of one cent per share and revenue of $188.1 million expected by analysts. For the full fiscal year, Asana reported an adjusted earnings per share loss of 13 cents, up from a loss of 20 cents the year prior, on revenue of $7233.9 million, up 11% year-over-year. Asana ended the quarter and its fiscal year with 24,062 "Core customers," customers spending $5,000 or more annually, up 11% year-over-year, while customers spending $100,000 or more annually was up 20% year-over-year to 726. Not all of the company's customers are sticking around, however, with the company reporting an overall dollar-based net retention rate of 96%; anything below 100% indicates a decline. Business highlights in the quarter included the October launch of Asana AI Studio, a no-code tool that allows companies to create artificial intelligence agents that can be embedded into workflows throughout the Asana platform. The service allows users to design "smart workflows" that coordinate projects and orchestrate tasks, leveraging Asana's Work Graph to capture critical context and relationships within organizations. AI Studio assists workers by understanding who is doing what, where, when, how and why and helps them with more straightforward, mundane tasks, effectively acting as a colleague or teammate. Other highlights include the introduction of stacked bar charts for dashboards in November, enhancing data visualization for improved decision-making. In December, Asana launched Portfolio Rules, allowing users to automate actions at the portfolio level to streamline workflows across multiple projects. In January 2025, the company released Gantt View, a feature that creates timeline-based perspectives to enhance project planning and tracking. Additionally, Asana introduced Project Notes, allowing teams to document key information directly within projects for better collaboration. "The early momentum with AI Studio has exceeded our expectations, with initial proof points confirming its transformative potential, including strong early customer adoption across segments and geographies, rapidly growing credit usage and a multi-million dollar pipeline," said Dustin Moskovitz, co-founder and CEO of Asana, said in the company's earnings release. For its fiscal 2026 first quarter, Asana expects adjusted earnings per share of two cents on revenue of $184.5 million to $186.5 million. The revenue outlook fell short of the $191 million expected by analysts. For the full fiscal year, the company expects revenue of $782 million to $790 million, short of the $803.5 million analysts had been looking for. Along with the misses on revenue outlook putting downward pressure on the company's share price, thrown into the mix was the announcement that Moskovitz, perhaps best known to the public as a Facebook co-founder, was stepping down as Asana's CEO after having founded the company in 2008. In a press release, Asana said that it had retained a leading executive search firm to execute a search for the company's next CEO. Moskovitz will remain CEO until a successor begins and intends to maintain his shareholdings in Asana. "Creating and leading Asana has been more than just building a company -- it's been a profound privilege to work alongside some of the most talented minds in the industry to build a platform that is trusted by over 85% of Fortune 500 companies today," said Moskovitz. "Asana has grown into a multi-product company at the forefront of AI innovation that is transforming how work gets done." While Moskovitz is retiring as CEO of Asana, he still plans on continuing as chairman of the company, focusing on product vision, strategic guidance and AI strategy. He also intends to dedicate more energy to addressing global challenges through his philanthropic organizations, Good Ventures and Open Philanthropy.
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Asana Stock Plunges After Q4 Results, CEO Transition Plan: Details - Asana (NYSE:ASAN)
The new Benzinga Rankings show you exactly how stocks stack up -- scoring them across five key factors that matter most to investors. Every day, one stock rises to the top. Which one is leading today? Asana Inc. ASAN released its fourth-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter. The Details: Asana reported quarterly losses of zero cents per share, which beat the analyst consensus estimate for losses of one cent. Quarterly revenue came in at $188.33 million, which beat the analyst consensus estimate of $188.1 million, up from revenue of $171.13 million from the same period last year. The company also announced CEO Dustin Moskovitz informed the board of directors of his intention to retire as CEO upon the appointment of a successor. "The board is engaged in a thorough process to identify the right successor to lead Asana's next phase of growth," Moskovitz said. "I will provide my full assistance to the board and my successor when the time comes." Read More: Nasdaq, S&P 500 Hit 6-Month Lows As Recession Fears Grow: What's Driving Markets Monday? "The early momentum with AI Studio has exceeded our expectations, with initial proof points confirming its transformative potential, including strong early customer adoption across segments and geographies, rapidly growing credit usage and a multi-million dollar pipeline," said Moskovitz. "As AI becomes an integral part of how work gets done, Asana is uniquely positioned to capitalize on this massive opportunity, providing a structured and intuitive framework that enables more effective human-AI coordination at scale," the CEO added. Outlook: For the first quarter, Asana expects: Revenues of $184.5 million to $186.5 million, representing year-over-year growth of 7% to 8%. Non-GAAP operating profit of $2 million to $3 million, with 1% to 2% operating margin. Non-GAAP net income per share of 2 cents. ASAN Price Action: According to data from Benzinga Pro, Asana shares are down 26.86% after hours at $12.20 Monday. Read Next: Markets Tank After Trump Confirms More Tariffs: Here's What Wall Street Is Saying Photo: Shutterstock ASANAsana Inc$12.37-32.2%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum87.53Growth60.71Quality-Value23.15Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs
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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.
Asana Inc., the work management software company, experienced a significant stock price drop of over 25% in after-hours trading following its fiscal 2025 fourth-quarter earnings report and the unexpected retirement announcement of its CEO, Dustin Moskovitz 12. The company reported adjusted earnings per share of zero, surpassing analyst expectations of a one-cent loss, on revenue of $188.3 million, which was slightly above the projected $188.1 million 1.
Despite these positive results, Asana's outlook for the upcoming quarter and fiscal year fell short of analyst expectations. The company forecasts first-quarter revenue between $184.5 million and $186.5 million, below the anticipated $191 million. For the full fiscal year 2026, Asana projects revenue of $782 million to $790 million, significantly lower than the $803.5 million analysts had predicted 1.
Amidst the financial news, Asana highlighted its progress in artificial intelligence integration. In October, the company launched Asana AI Studio, a no-code tool enabling the creation of AI agents for workflow embedding 1. This initiative has shown promising early results, with strong customer adoption and a growing multi-million dollar pipeline 12.
Other notable product developments include:
Asana reported growth in its customer base, with 24,062 "Core customers" (those spending $5,000 or more annually) at the end of the fiscal year, an 11% increase year-over-year. The number of customers spending $100,000 or more annually grew by 20% to 726 1.
However, the company faces challenges in customer retention, as evidenced by its dollar-based net retention rate of 96%. This figure, being below 100%, indicates a decline in overall customer retention or spending 1.
In a surprising move, Dustin Moskovitz, Asana's co-founder and CEO, announced his intention to retire. Moskovitz, also known as a co-founder of Facebook, has led Asana since its inception in 2008 12. The company has initiated a search for a new CEO, with Moskovitz planning to remain in his role until a successor is appointed 1.
Post-transition, Moskovitz will continue as chairman of the company, focusing on product vision, strategic guidance, and AI strategy. He also expressed his intention to dedicate more time to philanthropic efforts through his organizations, Good Ventures and Open Philanthropy 1.
The combination of weak revenue projections and the CEO transition announcement has significantly impacted investor confidence, resulting in the sharp decline in Asana's stock price. As the company navigates this leadership change and continues to invest in AI capabilities, it faces the challenge of improving customer retention and meeting market expectations in an increasingly competitive work management software landscape.
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 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.
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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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