Asana, Inc. - ASAN STOCK NEWS

Asana, Inc. reported first-quarter fiscal 2023 revenues of $120.6 million, marking a 57% year-over-year increase. Noteworthy growth was seen in customers spending over $5,000 annually, up 73%, and those spending over $50,000, increasing by 102% to 979 customers. Despite revenue growth, the company faced a GAAP operating loss of $96.2 million, significantly higher than the previous year's $50.0 million loss. Looking ahead, Asana expects second-quarter revenues between $127.0 million and $128.0 million, projecting a 42% to 43% growth year-over-year.

Asana (NYSE: ASAN) has partnered with Align Technology to introduce Asana Smiles™, a HIPAA-compliant workflow solution for U.S. orthodontic practices using the Invisalign system. This collaboration aims to streamline various aspects of patient management, such as booking consultations, submitting prescriptions, and tracking treatment progress. Early feedback from orthodontists indicates that the tool enhances practice efficiency and patient focus. Asana is also expanding its healthcare offerings, bolstered by new data protection certifications for enhanced compliance and security.

Align Technology announces a partnership with Asana to launch Asana Smiles™, a workflow solution tailored for Invisalign-trained doctors in the U.S. This platform allows dental practices to efficiently manage patients' treatment journeys, from consultations to aligner delivery. The solution is designed to integrate seamlessly with existing systems, enhancing practice efficiency and patient care. It will be showcased at the American Association of Orthodontists' Annual Session from May 21-24, 2022, and is set for release next month, with future expansion plans.

Asana, Inc. (NYSE: ASAN) will release its first quarter fiscal year 2023 financial results on June 2, 2022, after U.S. market close. A webcast to discuss these results will take place the same day at 1:30 p.m. Pacific time. Asana is a prominent work management platform utilized by over 119,000 paying customers globally, including major companies like Amazon and Japan Airlines. The company helps teams manage various projects and strategic initiatives effectively, reinforcing its position in the collaborative work management sector.

Asana, Inc. (NYSE: ASAN) released its annual Anatomy of Work Index, revealing that 58% of employees' time is lost to work coordination. While workers dedicate 33% of their day to skilled work, a notable 36% decrease in time spent on strategy was reported. Burnout remains significant, with 63% of employees experiencing it, and 84% of Gen Z workers facing similar challenges. Employees are wasting 6 working weeks annually on duplicated tasks and unnecessary meetings. The findings highlight the need for clearer processes and support for mental health in evolving work environments.

Asana, a prominent work management platform, announced its participation in two investor events. The first is the Wolfe Research Virtual 'March Madness' Software Conference on March 22, 2022, at 9:30 a.m. PT. The second is a Fireside Chat hosted by Jefferies on March 24, 2022, at 11:00 a.m. PT. Live webcasts of both events will be accessible on Asana's investor relations website. Asana serves over 119,000 paying customers globally, including notable companies such as Amazon and Japan Airlines, facilitating work management across various initiatives.

Asana reported a 67% year-over-year revenue growth for fiscal year 2022, totaling $378.4 million. In Q4, revenues reached $111.9 million, up 64% year over year. However, GAAP net loss rose to $90 million, with a net loss per share of $0.48. The company ended the fiscal year with 119,000 paying customers, showing significant growth in high-value customers, particularly those spending over $50,000 annually, which grew by 125%.

For Q1 FY 2023, Asana expects revenues between $114.5 million and $115.5 million.