Asana Stocks Tumbled 24% as Guidance Disappoints

Tiger Newspress2022-03-10

Asana stocks tumbled 24% in premarket trading as the company sees a larger-than-expected loss in the current quarter.For the fourth quarter of 2022, EPS of ($0.25) came in better than the consensus estimate of ($0.28). Revenue grew 64% year-over-year to $111.9 million, compared to the consensus estimate of $105.16 million, driven by strength in the enterprise and strong demand across the customer base.

The company ended the year with more than 119,000 paying customers. The number of customers spending $5,000 or more on an annualized basis increased 52% year-over-year to 15,437 in Q4, with the revenues from these customers growing 82% year-over-year. The number of customers spending $50,000 or more on an annualized basis increased 125% year-over-year to 894.

The company expects Q1/23 EPS in the range of ($0.36)-($0.35), worse than the consensus estimate of ($0.27). Revenue is expected to be $114.5-115.5 million, compared to the consensus estimate of $110.91 million.

For the full 2023-year, the company expects revenue to range from $527 million to $531 million, compared to the consensus estimate of $506.3 million.

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Comments

  • Jazling
    2022-03-10
    Jazling
    Wow
  • babyroxy
    2022-03-10
    babyroxy
    That's hurt 
  • syaoron
    2022-03-10
    syaoron
    Lol
  • Adren
    2022-03-10
    Adren
    Good
  • Bankai
    2022-03-10
    Bankai
    So many big buybacks done by their CEO over past yr, but disappointing outcome in their business and share price. That's disappointing $Asana, Inc.(ASAN)$
  • SamHee
    2022-03-10
    SamHee
    hi
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