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AptitudeFinancialAdvisory
Dec 10, 2020 7:44 AM

ASAN - December 10, 2020 Long

Asana, Inc.NYSE

Description

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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