Asana sinks after downbeat rev guidance, CEO succession plan

Asana

10/03/2025 21:09

** Shares of office-management software firm Asana ASAN.N down 25.5% post-market to $12.42, over 4-mth low, after rev forecasts miss consensus and co announces leadership change

** San Francisco-based ASAN projects Q1 rev of $184.5-$186.5 mln and full-yr rev of $782-$790 mln, both below LSEG estimates of $190.8 mln and $803.5 mln, respectively

** ASAN also says co-founder and CEO Dustin Moskovitz will step down and transition to role of board chair when a successor begins

** Co's board has hired exec search firm for its next CEO

** Q4 rev of $188.3 mln, up 10% y/y, was in-line with analysts' expectations, while adj EPS came in flat vs anticipated loss of a penny

** Of 18 analysts covering ASAN, recommendation breakdown is 6 "strong buy" or "buy", 10 "hold" and 2 "sell" ratings; median PT is $19.50

** ASAN shares on Mon fell 8.6% as equities tumbled amid recession jitters

** YTD, stock down ~18% and off ~33% over the past three months

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))