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June 03, 2021
First quarter revenue growth accelerated to 61% year over year
Over 100,000 total paying customers
Revenues from customers spending $5,000 or more grew 82% year over year
Raised fiscal year 2022 revenue outlook
SAN FRANCISCO--(BUSINESS WIRE)-- Asana, Inc. (NYSE: ASAN), a leading work management platform for teams, today reported financial results for its first quarter fiscal 2022 ended April 30, 2021.
“We are very pleased with the momentum in our first quarter. We reported accelerated revenue growth of 61 percent year over year, we closed large expansions within our existing base and continued to see momentum with some of our largest enterprise customers," said Dustin Moskovitz, co-founder and chief executive officer of Asana. “Whether teams are fully remote and working from home, or in offices coordinating work across departments and geographies, clarity on who is doing what by when is essential. More and more customers are turning to Asana and the Asana Work Graph to provide a scalable, cross-functional, and easy-to-adopt solution."
First Quarter Fiscal 2022 Financial Highlights
Revenues: Revenues were $76.7 million, an increase of 61% year over year.
Operating Loss: GAAP operating loss was $50.0 million, or 65% of revenues, compared to GAAP operating loss of $29.1 million, or 61% of revenues, in the first quarter of fiscal 2021. Non-GAAP operating loss was $33.3 million, or 43% of revenues, compared to non-GAAP operating loss of $23.9 million, or 50% of revenues, in the first quarter of fiscal 2021.
Net Loss: GAAP net loss was $60.7 million, compared to GAAP net loss of $35.8 million in the first quarter of fiscal 2021. GAAP net loss per share was $0.37, compared to GAAP net loss per share of $0.47 in the first quarter of fiscal 2021. Non-GAAP net loss was $33.8 million, compared to non-GAAP net loss of $23.7 million in the first quarter of fiscal 2021. Non-GAAP net loss per share was $0.21, compared to non-GAAP net loss per share of $0.31 in the first quarter of fiscal 2021.
Cash Flow: Cash flows from operating activities were negative $7.4 million, compared to negative $18.2 million in the first quarter of fiscal 2021. Free cash flow was negative $7.7 million, compared to negative $17.1 million in the first quarter of fiscal 2021.
Announced the availability of Universal Reporting which gives leaders real-time visibility into work across their organization.
Introduced Asana Partners, featuring over 200 Technology Partners including new Zendesk, ServiceNow, Adobe, Canva, InVision, Looker and Lucidchart integrations.
Launched Asana’s Channel Partner network across 75 countries.
Expanded with four new languages - Traditional Chinese, Russian, Dutch, and Polish, with three more languages coming soon.
Named to Inc. Magazine’s annual list of Best Workplaces for the fourth year in a row.
Ended the quarter with over 100,000 paying customers.
The number of customers spending $5,000 or more on an annualized basis grew to 11,272, an increase of 53% year over year.
The number of customers spending $50,000 or more on an annualized basis grew to 485, an increase of 92% year over year.
Overall dollar-based net retention rate was over 115%.
Dollar-based net retention rate for customers with $5,000 or more in annualized spend was 123%.
Dollar-based net retention rate for customers with $50,000 or more in annualized spend was over 140%.
For the second quarter of fiscal 2022, Asana expects:
Revenues of $81.0 million to $83.0 million, representing year over year growth of 56% to 60%.
Non-GAAP operating loss of $44.0 million to $42.0 million.
Non-GAAP net loss per share of $0.27 to $0.26, assuming basic and diluted weighted average shares outstanding of approximately 163 million.
For fiscal year 2022, Asana expects revenues of $336.0 million to $340.0 million, representing year over year growth of 48% to 50%.
https://investors.asana.com/news/news-d ... fault.aspx
Collaboration-software company raises annual forecast as revenue easily outstrips expectations, stock adds more than 9% in after-hours trading
Asana Inc. shares jumped in extended trading Thursday, after the collaboration-software company blew away expectations for revenue growth, and predicted more to come.
Asana ASAN, -0.19% reported a first-quarter loss of $60.7 million, or 37 cents a share, on sales of $76.7 million, up from $47.7 million a year ago, a growth rate that topped 60%. After adjusting for stock-based compensation and other effects, the company reported a loss of 21 cents a share, an improvement from a loss of 31 cents a share last year, when there were less than half the shares available.
Analysts on average expected adjusted losses of 27 cents a share on sales of $70.1 million, according to FactSet. Asana stock gained more than 9% in after-hours trading after the results were released, following a 0.2% daily decline to $36.79.
Asana executives expect the strong revenue growth to continue. The company’s forecast calls for second-quarter sales of $81 million to $83 million, blowing away the consensus estimate of $74.1 million. For the year, executives increased the company’s sales forecast to a range of $336 million to $340 million, after previously stating a range of $309 million to $314 million.
“We are very pleased with the momentum in our first quarter,” Chief Executive and co-founder Dustin Moskovitz, also a Facebook Inc. FB, -0.94% co-founder, said in a statement. “We reported accelerated revenue growth of 61% year over year, we closed large expansions within our existing base and continued to see momentum with some of our largest enterprise customers.”
Jun. 09, 2021
Asana (NYSE:ASAN) is 5.2% higher postmarket after its chief executive officer disclosed buying half a million shares.
CEO/Chairman Dustin Moskovitz bought the shares in several purchases Monday and Tuesday, as the price of the stock ranged between $37.39 and $40.68, according to an SEC filing. (The stock closed today at $41.15.)
Those purchases - pursuant to his Rule 10b5-1 trading plan - brought his direct beneficial holdings to 4,147,046 shares.
Also, General Counsel/Corporate Secretary Eleanor Lacey disclosed selling 20,000 shares after converting options.
(10/06) - Bron: Reuters
** Shares of Asana Inc jumping 9.4% on Thurs and hitting record high after Baird raised its PT on the work management software maker
** Baird analyst Rob Oliver raised his PT to $50 from $40 and reiterated his bullish view
** Oliver wrote in a client note that he expects the co's recently unveiled productivity features to, "add immediate value to ASAN's users by further reducing 'work about work.'"
** Last week, ASAN reported qtrly rev well above estimates
** 9 analysts covering ASAN rate it 'buy' while 2 rate it 'hold.' Their median PT is $46.50, which is slightly ahead of current price of $45.13, according to Refinitiv data
Thanks to the remote work revolution and the digital transformation of businesses all over the world, a company like Asana is emerging as a potential leader in the software space. Asana offers a work management platform that enables individuals to manage and prioritize across different projects. It can be quite difficult to keep everyone on track when it comes to dealing with numerous projects and tasks, which is why Asana is such a valuable tool for any type of business. The platform is powered by a multi-dimensional data model called the work graph that ensures everyone stays on the same page during the workday.
This stock has been a very strong performer since Asana delivered record Q1 earnings back in early June. The company reported revenues of $76.7 million, up 61% year-over-year, and ended the quarter with over 100,000 paying customers. Perhaps the biggest takeaway from the report was the fact that the company issued very strong forward guidance for the fiscal year 2022, including revenues of $336 million to $340 million, representing year-over-year growth of 48% to 50%. The stock has rallied over 34% in June and is a great option to consider buying on dips.