Asana Stock Climbs On Mixed Q1 Earnings: Earnings Beat, Revenues Miss

Benzinga

Asana reported first-quarter earnings of five cents per share, beating the four-cent estimate, according to Benzinga. The company missed revenue expectations with $187.27 million versus $192.6 million projected. Core customers spending over $5,000 annually rose 10%, while customers spending over $100,000 increased 20%. The company posted a 95% net retention rate and announced its AI Studio has surpassed $1 million in annual recurring revenue. Asana guided second quarter EPS between four and five cents, slightly above consensus, and forecast revenue of $192 to $194 million. It lowered full-year revenue guidance from $775 to $790 million, below the prior estimate of $857.76 million. Shares fell 2.63% in after-hours trading.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Asana reported first quarter earnings of five cents per share,

00:05beating the four-set estimate according to Benzinga.

00:07Company missed revenue expectations with $187.27 million versus $192.6 million projected.

00:14Core customers spent over $5,000 annually, rose 10%,

00:19while customers spending over $100,000 annually increased 20%.

00:22Company posted a 95% net retention rate

00:25and announced its AI studio has surpassed $1 million in annual recurring revenue.

00:30Asana got its second quarter EPS between four and five cents,

00:33slightly above consensus.

00:34It forecasts revenue of $192 to $194 million.

00:39It's lowered full revenue guidance from $775 to $790 million,

00:43below the prior estimate of $857.76 million.

00:47Shares fell 2.63% in after-hours trading.

00:50For all things money, visit Benzinga.com slash GSTV.

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