Asana Stock Plunges After Q4 Results, CEO Transition Plan: Details

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.”

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“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.  

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