Asana, Inc. ($ASAN) Earnings (Q2 FY23)

 Asana, Inc. ($ASAN) Earnings and Opinion:


Asana is a company in the Technology sector and operates in the Software-Application industry. The company operates a work management platform for individuals, team leads, and executives in the United States and internationally. Asana was incorporated in 2008 and is currently headquartered in San Francisco, California. The company made its debut on the stock market in 2020.

Asana Earnings Results:

  • Revenues of $135M beating expectations of $127M
  • Gross Profit of $122M beating expectations of $113M
  • Operating Income of -$63M beating expectations of -$72M
  • EPS of -$0.34 beating expectations of -$0.38
  • Billings of $143M beating expectations of $142M
  • Guidance beat in all categories except Operating Income for Q3
Opinion:
Asana is currently soaring, after they reported earnings this afternoon. The company looked to have a really solid quarter with beats on pretty much all metrics. Guidance looked strong in terms of revenue and EPS, but Operating Income slipped a little bit.They raised the outlook for the rest of the year, as the forecast looks strong for them. They also reported an investment by the CEO of $350M. This is always something to look out for, due to the fact that the CEO believes in his business and that he is investing that much into it. Profitability seems to be approaching, as the companies financials look to be getting stronger. As far as valuation goes, Asana has a P/S ratio of 8.60, which is pretty high. The growth outlook shows some decline over the next couple years. The current ratio sits at 1.37, which is a comfortable position. Cash outweighs the debt by a slim margin. In my opinion, I like this stock a lot. Asana looks to be pretty promising and has some upside to it. They just IPOd a few years back, so it is relatively new to the market. I can see some upside and continual growth in the years to come. I am long Asana. 


*Information from Yahoo Finance, Consensus Gurus, CMLVIZ 

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