Asana, Inc. (ASAN) Tops Q4 EPS by 4c, Revenues Beat; Offers 1Q & FY21 Revenue Guidance Above Consensus

March 10, 2021 4:24 PM EST
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Asana, Inc. (NYSE: ASAN) reported Q4 EPS of ($0.22), $0.04 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $68.4 million versus the consensus estimate of $62.68 million.

Fourth Quarter Fiscal 2021 Financial Highlights

  • Revenues: Revenues were $68.4 million, an increase of 57% year over year.
  • Operating Loss: GAAP operating loss was $51.0 million, or 74.5% of revenues, compared to GAAP operating loss of $25.3 million, or 58.2% of revenues, in the fourth quarter of fiscal 2020. Non-GAAP operating loss was $34.8 million, or 51.0% of revenues, compared to non-GAAP operating loss of $20.1 million, or 46.1% of revenues, in the fourth quarter of fiscal 2020.
  • Net Loss: GAAP net loss was $61.5 million, compared to GAAP net loss of $25.2 million in the fourth quarter of fiscal 2020. GAAP net loss per share was $0.39, compared to GAAP net loss per share of $0.34 in the fourth quarter of fiscal 2020. Non-GAAP net loss was $35.0 million, compared to non-GAAP net loss of $19.9 million in the fourth quarter of fiscal 2020. Non-GAAP net loss per share was $0.22, compared to non-GAAP net loss per share of $0.27 in the fourth quarter of fiscal 2020.
  • Cash Flow: Cash flows from operating activities were negative $18.2 million, compared to cash flows from operating activities of negative $16.1 million in the fourth quarter of fiscal 2020. Free cash flow was negative $17.5 million, compared to negative $19.2 million in the fourth quarter of fiscal 2020.

“We are very pleased with our strong results for the fiscal year, driving record revenue of $227 million, up 59 percent year over year," said Dustin Moskovitz, co-founder and chief executive officer of Asana. “In the fourth quarter, growth was driven by a year over year acceleration of new customer growth, strong expansion within our existing base and momentum with some of our largest enterprise customers. We now have over 93,000 paying customers and over 1.5 million paid users who trust Asana to provide the real-time clarity their teams need to do their best work."

GUIDANCE:

Asana, Inc. sees Q1 2022 EPS of ($0.27)-($0.26), versus the consensus of ($0.26). Asana, Inc. sees Q1 2022 revenue of $69.5-70.5 million, versus the consensus of $65.57 million.

Asana, Inc. sees FY2022 revenue of $309-314 million, versus the consensus of $221.25 million.

For the first quarter of fiscal 2022, Asana expects:

  • Revenues of $69.5 million to $70.5 million, representing year over year growth of 46% to 48%.
  • Non-GAAP operating loss of $44.0 million to $42.0 million.
  • Non-GAAP net loss per share of $0.27 to $0.26, assuming basic and diluted weighted average shares outstanding of approximately 161 million.

For fiscal year 2022, Asana expects revenues of $309.0 million to $314.0 million, representing year over year growth of 36% to 38%.

For earnings history and earnings-related data on Asana, Inc. (ASAN) click here.



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