Morsa Images/DigitalVision via Getty Images While AI-powered tech stocks have fueled the market rally to new all-time highs, there are a number of significant holdouts, especially among small and mid-cap software stocks. It's these more overlooked plays, in my opinion, that deserve our attention as we look to brace our portfolios for a potential correction. Asana (NYSE:ASAN), in particular, bears mentioning. The workflow and collaboration software platform, founded by Facebook co-founder Dustin Moskovit ...

Share buyback announcements are becoming commonplace, as many companies that have earned excess profits are looking for a place to invest their windfalls. For software company Asana (NYSE:ASAN), today’s announcement that the company will be buying back $150 million of its own stock has sent its share price surging. At the time of writing, ASAN stock is up about 15% on this news.The company’s board of directors has approved this stock repurchase program, which will run through the end of the month. According ...

SAN FRANCISCO, June 11, 2024 (GLOBE NEWSWIRE) -- Today, Meltwater, a global leader of media, social, and consumer intelligence, and The Work Innovation Lab, a think tank by #1 AI work management platform Asana, released the State of Marketing Collaboration, a new report revealing only 39% of marketers are confident their department's goals are aligned with overall business objectives. Despite 74% of marketing teams being seen as strategic partners, more than a quarter (27%) of marketers feel disconnected fr ...

Asana, Inc. (NYSE:ASAN) Q1 2025 Earnings Conference Call May 30, 2024 4:30 PM ET Company Participants Catherine Buan - Head, Investor Relations Dustin Moskovitz - Co-Founder & Chief Executive Officer Anne Raimondi - Chief Operating Officer & Head of Business Tim Wan - Chief Financial Officer Conference Call Participants Rob Oliver - Baird George Iwanyc - Oppenheimer Brent Bracelin - Piper Sandler Jackson Ader - KeyBanc Capital Markets Josh Baer - Morgan Stanley Michael Funk - Bank of America Taylor McGinnis ...

Q1’25 Asana investor overview Forward-Looking Statements This presentation and the accompanying oral presentation include express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, product development, business strategy and plans, and market trends, opportunities and positioning. These forward-looking statements are based on current expectations, estimates, forecasts an ...

Customer Metrics - As of April 30, 2024, Asana had 22,162 Core customers, contributing approximately 74% of revenues, up from 19,864 Core customers contributing 73% of revenues a year earlier [136]. - The number of customers spending over $100,000 annually increased to 607 as of April 30, 2024, from 510 in the same period of 2023 [138]. - The dollar-based net retention rate for Core customers was 102% as of April 30, 2024, down from over 115% in the previous year [141]. Financial Performance - For the three months ended April 30, 2024, revenues were $172,448,000, a 13.2% increase from $152,411,000 for the same period in 2023 [154]. - Gross profit for the same period was $154,644,000, resulting in a gross margin of 90% [154][158]. - Revenues increased by $20.0 million, or 13%, to $172.4 million for the three months ended April 30, 2024, compared to $152.4 million for the same period in 2023 [159]. - Gross margin remained consistent at 90% for both the three months ended April 30, 2024, and April 30, 2023 [160]. Operating Expenses - Total operating expenses for the three months ended April 30, 2024, were $220,813,000, compared to $202,809,000 for the same period in 2023 [154]. - Total operating expenses increased by $18.0 million, or 9%, to $220.8 million, driven by higher research and development, and sales and marketing expenses [163]. - Research and development expenses increased to $82,791,000 for the three months ended April 30, 2024, from $76,316,000 in the same period of 2023 [154]. - Research and development expenses increased by $6.5 million, or 8%, to $82.8 million, mainly due to increased personnel-related costs [163]. - Sales and marketing expenses rose by $11.1 million, or 12%, to $104.3 million, attributed to higher headcount and travel costs [164]. Net Loss and Cash Flow - The net loss for the three months ended April 30, 2024, was $63,722,000, compared to a net loss of $61,468,000 for the same period in 2023 [154]. - Non-GAAP net loss improved to $(13.3) million for the three months ended April 30, 2024, compared to $(18.5) million for the same period in 2023 [168]. - Free cash flow was $(4.3) million for the three months ended April 30, 2024, an improvement from $(16.6) million in the same period last year [176]. - The net cash used in operating activities for the three months ended April 30, 2024, was $1.9 million, reflecting a net loss of $63.7 million, adjusted for non-cash items [187]. Deferred Revenue and Future Outlook - As of April 30, 2024, the company had $297.1 million in deferred revenue, with $292.2 million classified as a current liability, indicating strong future revenue recognition potential [181]. - For the same period, the company reported a $25.9 million increase in deferred revenue due to higher subscription billings [187]. - Current economic conditions, including elevated inflation and interest rate hikes, are expected to impact customer buying patterns and sales cycles [142]. - The company may seek additional funding through equity or debt in the future to support growth and operational needs [182]. Cash and Marketable Securities - As of April 30, 2024, the company had cash, cash equivalents, and marketable securities totaling $524.3 million [178]. - Cash and cash equivalents stood at $222.0 million as of April 30, 2024, down from $236.7 million as of January 31, 2024 [197]. - The company had $46.9 million outstanding under its revolving credit facility as of April 30, 2024 [198]. Foreign Currency Exposure - Approximately 25% of the company's sales for the three months ended April 30, 2024, were denominated in currencies other than U.S. dollars, exposing it to foreign currency risk [200]. - Interest income and other income (expense), net decreased by $1.3 million, or 23%, to $4.4 million, primarily due to foreign currency transaction impacts [166]. Investment Activities - The net cash used in investing activities for the three months ended April 30, 2024, was $21.4 million, primarily due to $70.5 million in marketable securities purchases [189]. - The company generated $9.9 million in net cash from financing activities for the three months ended April 30, 2024, mainly from employee stock purchase plan proceeds [191]. Cash Flow from Operating Assets and Liabilities - The company experienced a net cash outflow of $8.4 million from changes in operating assets and liabilities for the three months ended April 30, 2023 [188].

Exhibit 99.1 Asana Announces First Quarter Fiscal 2025 Results Improvement in free cash flow and operating cash flow year over year Expect to be free cash flow positive for the full year Revenues from customers spending $5,000 or more grew 15% year over year May 30, 2024 – San Francisco, CA – Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), a leading work management platform, today reported financial results for its first quarter fiscal 2025 ended April 30, 2024. "AI is transforming how we work, and Asana is deliverin ...

Sam Altman, the CEO of OpenAI, is perhaps one of the greatest visionaries of the artificial intelligence (gen AI) age. He’s also an investor in several innovative tech firms that could reshape the world of tomorrow. Undoubtedly, some of his past and current investment holdings may be unable to top OpenAI’s disruptive capabilities with its ChatGPT, Dall-E and, most recently, Sora innovations. That said, Altman stocks are worth keeping tabs on, whether or not they have ties to the future of gen AI.Altman is a ...

SAN FRANCISCO--(BUSINESS WIRE)--Today, Asana, Inc., a leading enterprise work management platform, announced new AI capabilities that empower IT leaders to drive intelligent transformation with the right data foundation, safeguards, and controls. Powered by Asana’s Work Graph® data model, these new capabilities enable IT leaders to integrate their work data seamlessly with solutions like Microsoft 365, deploy AI safely, and surface executive-level reports and insights that help drive greater ROI, now. “W ...

A lot of tech stocks have made big turnarounds in the last year or two, but Asana (ASAN -0.85%) is not one of them. The company expects revenue to fall this quarter and is burning cash like crazy. In this video, Travis Hoium covers the company's recent results, which were disastrous for investors.*Stock prices used were end-of-day prices of March 12, 2024. The video was published on March 13, 2024. ...