ASAN - December 10, 2020

NYSE:ASAN   Asana, Inc
ASAN reported earnings on December 9th AMC . Q3 revenue grew 55% yoy and had fiscal year outlook and guidance raised. Although there was an operating loss of 105% of revenues, it is an improvement from FY Q3 2020 net loss of 166% of revenues. Furthermore, the company is expecting to maintain net losses for fiscal 2021 however is citing increased business customers and a higher customer retention rate. ASAN has expanded their ecosystem and product offerings with integrations into Zoom, Jira, Microsoft Teams, and Slack. ASAN trades at a market cap of $4.3B. For comparison, Slack was just acquired by Salesforce for an enterprise value of $27.7B.


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