Asana posts Q4 beat, shares plunge as CEO Moskovitz to step down

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."

You May Also Be Interested In

• Dell’s earning report was bullish for Intel CPU demand, analyst says
• Barclays Downgrades Ipsen SA (IPN:FP) (IPSEF) to Underweight
• UBS Downgrades Lai Yih Footwear Co Ltd (6890:TT) to Neutral