Asana Shares Rise 10% On Raised FY22 Revenue Outlook

Shares of work management company Asana, Inc. (ASAN) are up 10 percent on Thursday's trading after the company lifted its full year 2022 revenue guidance and also named a new Chief Operating Officer. The company also reported higher revenues for the second quarter, while net loss widened from a year ago.

The company posted second-quarter net loss of $68.4 million or $0.40 per share, higher than net loss of $41.1 million or $0.54 per share in the same period last year.

Excluding items, loss came in at $39.8 million or $0.23 per share in the quarter, compared to $26.3 million or $0.34 per share a year ago, while analysts were looking for loss of $0.26 per share for the period.

Quarterly revenues climbed 72 percent to $89.5 million from $52.0 million last year, while analysts were expecting revenues of $82.2 million for the three-month period.

Looking ahead, the company raised its full-year 2022 revenue outlook to $357 million to $359 million, a 57-58 percent growth from last year.

Separately, the company also announced the appointment of Anne Raimondi as Chief Operating Officer. She will be taking over from Chris Farinacci, who retires at the end of the present financial year.

Currently at $83.68, the stock has traded between $20.57 and $88.20 during the past 52 weeks.

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