Asana Announces $150 Million Stock Buyback: What To Know
Asana said its board of directors approved a stock repurchase program authorizing the company to repurchase up to $150 million of its Class A common stock through June 30, 2025.
“I’m pleased to share that, after careful consideration, our board has authorized a stock repurchase program of up to $150 million over the next 12 months. This is a good investment opportunity for us as I believe our shares are undervalued given our immense long-term potential,” said Dustin Moskovitz, CEO of Asana.
“With over $500 million of cash, cash equivalents and investments on the balance sheet and a commitment to becoming free cash flow positive by the end of this year, we have the financial leverage and resources. AI is transforming how we work, and Asana is delivering the ideal platform for this new era where people and AI collaborate to reach new levels of productivity and innovation.”
Asana reaffirmed its previously provided guidance of second-quarter revenue in a range of $177 million to $178 million, representing year-over-year growth of 9% to 10%, and a non-GAAP operating loss of $23 million to $21 million, with 12% operating loss margin at the midpoint.
The company still sees fiscal year 2025 revenue in a range of $719 million to $724 million, representing year-over-year growth of 10% to 11%, non-GAAP operating loss of $59 million to $55 million and positive free cash flow for the year.
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