==Asana (ASAN) reported earnings on Wed 7 Sep 22 (a/h)

 

Asana beats by $0.05, beats on revs; guides Q3 EPS in-line, revs above consensus; guides FY23 revs above consensus; expects to reach free cash flow positive before the end of CY24 

• Reports Q2 (Jul) loss of $(0.34) per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $(0.39); revenues rose 50.8% year/year to $134.9 mln vs the $127.27 mln S&P Capital IQ Consensus.
  • The number of customers spending $100,000 or more on an annualized basis in Q2 grew to 462, an increase of 105% year over year.
• Co issues guidance for Q3, sees EPS of $(0.33)-$(0.32), excluding non-recurring items, vs. $(0.32) S&P Capital IQ Consensus; sees Q3 revs of $138.5-139.5 mln vs. $137.83 mln S&P Capital IQ Consensus.
• Co issues upside guidance for FY23, sees FY23 revs of $544-547 mln vs. $535.47 mln S&P Capital IQ Consensus.
• Co also announced $350 mln private placement.
• Co added, "We believe we are fully-funded to execute on our current strategies and well-positioned to reach free cash flow positive before the end of calendar 2024."