Investing.com -- Asana Inc shares were down 21% in extended trading after it reported fourth-quarter earnings while also announcing that CEO Dustin Moskovitz will step down once a successor is appointed.

Moskovitz, who co-founded Asana in 2008 after previously co-founding Facebook (NASDAQ: META) (now Meta), will remain CEO until a successor is named and intends to maintain his shareholding in the company.

The work management software company posted earnings per share of $0.00, beating Wall Street’s expectation of a loss of $0.01 per share.

Revenue for the quarter was $188.3 million, slightly ahead of the consensus estimate of $188.15 million.

Asana projected earnings per share of $0.19 to $0.20 for fiscal 2026, well above analysts' expectations of a loss of $0.01. But revenue forecast between $782 million and $790 million, was below the $803 million consensus.

"Asana has grown into a multi-product company at the forefront of AI innovation," Moskovitz said. "I am confident that an experienced leader will build on Asana’s strong track record."