On March 8, 2023, Asana, Inc (NYSE: ASAN) Chair and CEO Dustin Moskovitz shared plans to purchase up to 30 million shares after the close of trading on March 9.
The stock purchase is under trading plan Rule 10b5-1(c). The earliest the trading plan may execute is June 8, 2023, and the trading plan expires on December 29, 2023.
On March 8 after hours, Asana reported fourth-quarter revenue growth of 34% year-on-year to $150.2 million, beating the consensus of $145.1 million.
Adjusted operating loss was $(37.4) million, down from a $(43.9) million loss a year ago. The loss margin improved from (39)% to (25)%.
Adjusted EPS loss of $(0.15) beat the consensus loss of $(0.27).
Asana used $(26.5) million in free cash flow versus $(41.2) million a year ago.
“We are grateful to work alongside some of the largest, most innovative enterprises in the world. This offers us unique insights into their complex business needs, which helps to inform our product strategies and investments in areas that can shape the future of work management,” said Moskovitz.
Outlook: Asana expects Q1 revenue of $150.0 million – $151.0 million, above the consensus of $149.97 million. It sees an adjusted EPS loss of $(0.19) – $(0.18), better than the consensus loss of $(0.23).
Asana expects FY24 revenue of $638.0 million – $648.0 million versus the consensus of $645.84 million. It sees an adjusted EPS loss of $(0.59) – $(0.55) better than consensus loss of $(0.80).
Price Action: ASAN shares traded higher by 23.6% at $22.00 premarket on the last check Thursday.
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This article Asana CEO Plans To Purchase Up To 30M Stock Under Trading Plan, Shares Soar originally appeared on Benzinga.com
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