Work management software maker Asana (NYSE: ASAN) will be announcing earnings results tomorrow after the bell. Here’s what you need to know.
Asana beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $183.9 million, up 10.4% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations. It added 661 enterprise customers paying more than $5,000 annually to reach a total of 23,609.
Is Asana a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Asana’s revenue to grow 10% year on year to $188.2 million, slowing from the 13.9% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Asana has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.1% on average.
Looking at Asana’s peers in the productivity software segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Atlassian delivered year-on-year revenue growth of 21.4%, beating analysts’ expectations by 3.4%, and Monday.com reported revenues up 32.3%, topping estimates by 2.5%. Atlassian traded up 15.2% following the results while Monday.com was also up 26.9%.
Read our full analysis of Atlassian’s results here and Monday.com’s results here.
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