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Asana, Inc. (ASAN) is a leading provider of collaborative work management software designed to help teams coordinate and manage their work from start to finish. Founded by Dustin Moskovitz and Justin Rosenstein, who initially developed the tool for internal use at Facebook, Asana has grown into a global enterprise with offices in San Francisco, New York City, and Dublin.
Asana's core product is a cloud-based SaaS platform that enables seamless project management, task tracking, and team collaboration. The tool offers a range of features including task and project management, team communication, real-time project visibility, and automation capabilities. This allows organizations to streamline their workflows, improve efficiency, and achieve better results.
The company offers a freemium model, providing free access for teams of up to 15 members with unlimited projects and tasks. For larger teams and more advanced features, Asana offers subscription plans that generate revenue on a per seat basis.
Asana is supported by major investors such as Benchmark Capital, Andreessen Horowitz, Founders Fund, and Peter Thiel. The company continues to expand its capabilities and improve its offerings, making it a valuable tool for businesses of all sizes across various industries. Recent achievements include enhanced reporting and automation features, which significantly boost productivity and project management efficiency.
The platform is accessible via web and mobile apps available on Asana's website, iTunes, and Google Play. Asana's scalable and dynamic tools have made it an essential part of workflow management for marketing programs, IT approvals, performance management, and more.
Asana (NYSE: ASAN) has announced a $150 million stock repurchase program, authorized by its Board of Directors, to be completed by June 30, 2025. CEO Dustin Moskovitz stated that this move reflects confidence in the company's long-term potential. With over $500 million in cash and investments, Asana aims to achieve free cash flow positivity by year-end. The repurchase program is designed to return value to shareholders and reduce share count. Asana anticipates Q2 fiscal 2025 revenues of $177-$178 million with a non-GAAP operating loss of $21-$23 million. For the full fiscal year, expected revenues are $719-$724 million, with a non-GAAP operating loss of $55-$59 million and positive free cash flow. The program's timing, manner, price, and amount of repurchases will be at Asana's discretion.
Asana has introduced AI teammates designed to enhance team productivity and goal achievement. Built on Asana’s Work Graph® data model, these AI collaborators can customize workflows, triage risks, and reallocate tasks with full human oversight. Currently in beta, AI teammates integrate seamlessly into existing workflows, offering insights, taking action on tasks, and adapting to organizational best practices.
Key use cases include creative production and marketing campaign work intake, with notable results such as improved task assignment and enhanced reporting quality. Asana's new AI chat interface provides conversational assistance for queries like identifying project blockers or finding subject matter experts within the company.
Research indicates significant productivity gains when AI tools are used daily, with Asana's AI capabilities supporting this trend. The AI teammates are available to select enterprise customers and further details can be found at Asana’s Work Innovation Summit in San Francisco.
Asana, a leading work management platform, has announced its participation in two significant investor events. Asana's executives will present at the Baird 2024 Global Consumer, Technology & Services Conference on June 4, 2024, at 8:25 a.m. PT / 11:25 a.m. ET. The company will also present at the Bank of America Global Technology Conference 2024 on June 5, 2024, at 1:20 p.m. PT / 4:20 p.m. ET. Interested parties can access a live webcast of these events on Asana's investor relations website.
Asana (NYSE: ASAN) reported its Q1 fiscal 2025 results, ending April 30, 2024. Revenues increased 13% YoY to $172.4 million. Despite improvements in free cash flow and operating loss, GAAP net loss widened slightly to $63.7 million. Non-GAAP net loss also improved to $13.3 million. Asana's core customer base grew 12%, with revenues from these customers up 15%. However, cash flows from operating activities and free cash flow were still negative. The company launched new AI tools for IT leaders and conducted global Work Innovation Summits. Asana projects revenues of $177-$178 million for Q2 and $719-$724 million for fiscal 2025, with slight improvements in operating and net losses.
Asana, Inc. (ASAN) will announce its first quarter fiscal year 2025 financial results on May 30, 2024, after the U.S. markets close. The company will host a webcast on the same day to discuss the results. Investors can access the live webcast and replay on the Asana Investor Relations website.
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