Asana revenue jumps 72%; work-management company raises full-year sales guidance

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For his Next Act successful tech, Facebook Inc. co-founder Dustin Moskovitz plunged into the work-management tract with startup Asana Inc. much than a decennary ago.

The stake progressively has paid off. Shares of Asana Inc. ASAN, +2.29%, up 161% this twelvemonth connected the heels of an IPO successful precocious 2020, initially jumped 10% successful extended trading Wednesday earlier cooling aft the institution reported better-than-expected gross and net successful enactment with what analysts predicted.

Asana besides raised guidance for its existent 4th and named a caller main operating officer, Anne Raimondi, a tech seasoned of Zendesk Inc. ZEN, +0.24%, TaskRabbit and SurveyMonkey, present known arsenic Momentive Global Inc. MNTV, +1.22%.

“Our ngo of monitoring who is doing what erstwhile and wherefore paid disconnected crossed the endeavor during the quarter,” Moskovitz, who co-founded Facebook FB, +0.70% with Harvard University roommate Mark Zuckerberg, told MarketWatch. “The pandemic seems to person accelerated the inclination among businesses.”

Asana reported a nett nonaccomplishment of $68.4 million, oregon 40 cents a share, compared with a nett nonaccomplishment of $41.1 million, oregon 54 cents a share, successful the year-ago quarter. The company’s adjusted nett nonaccomplishment was $39.8 million, oregon 23 cents a share.

Revenue changeable up 72% to $89.5 cardinal from $52 cardinal a twelvemonth ago.

Analysts surveyed by FactSet had expected a nett nonaccomplishment of 26 cents a stock connected gross of $82.3 million.

New lawsuit additions proved to beryllium beardown successful the 2nd quarter, starring to gross from customers spending much than $5,000 to turn 97% year-over-year. Accordingly, Asana raised its full-year gross maturation guidance to betwixt $357 cardinal and $359 million. FactSet analysts are forecasting $339 million.

Asana makes workplace collaboration and readying bundle designed to assistance teams of employees orchestrate enactment to execute their goals smoothly and efficiently. The company’s bundle helps coordinate workflows and summation productivity done what it calls the 3 Cs: content, communication, and coordination. Asana’s intent is to heighten the archetypal two, starring to the full becoming greater than the sum of its parts.

The institution couldn’t beryllium much antithetic successful its marketplace than Moskovitz’s erstwhile creation, Facebook. Though helium intimately follows the social-networking giant, Moskovitz declined remark connected its existent authorities and wrangling with national regulators.

“I americium a funny observer, but moving Asana is my concern afloat time,” Moskovitz said. “I pb that [antitrust] worldly to the experts.”

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