Asana Falls On Wider Q3 Loss, Outlook

Asana, Inc. (ASAN) shares are declining more than 10 percent on Friday morning trade after the company reported third-quarter net loss of $100.9 million or $0.49 per share, wider than the net loss of $69.3 million or $0.37 per share in the prior year. On an adjusted basis, loss was $52.4 million or $0.26 per share.

Looking ahead to the fourth quarter, the company expects an adjusted net loss of $0.28-$0.27 per share.

For fiscal 2023, the company's projection is for loss in the range of $1.15 to $1.14 per share.

Currently, shares are at $16.13, down 10.78 percent from the previous close of $18.08 on a volume of 5,374,636.

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