On June 20, 2024, Asana, Inc., a leading work management platform, announced the approval of a stock repurchase program by its Board of Directors. The program authorizes the repurchase of up to $150 million of its Class A common stock and is expected to run through June 30, 2025. The repurchases may occur through various methods, including open market purchases, privately negotiated transactions, and structured repurchase agreements, subject to market conditions and legal requirements. The program aims to return value to shareholders and reduce share count over time. Asana also reaffirmed its financial guidance for Q2 and the full fiscal year 2025, excluding net loss per share adjustments due to the new repurchase program. The company expects Q2 revenues to be between $177.0 million and $178.0 million, with a non...Show More

On June 20, 2024, Asana, Inc., a leading work management platform, announced the approval of a stock repurchase program by its Board of Directors. The program authorizes the repurchase of up to $150 million of its Class A common stock and is expected to run through June 30, 2025. The repurchases may occur through various methods, including open market purchases, privately negotiated transactions, and structured repurchase agreements, subject to market conditions and legal requirements. The program aims to return value to shareholders and reduce share count over time. Asana also reaffirmed its financial guidance for Q2 and the full fiscal year 2025, excluding net loss per share adjustments due to the new repurchase program. The company expects Q2 revenues to be between $177.0 million and $178.0 million, with a non-GAAP operating loss of $23.0 million to $21.0 million. For the full fiscal year 2025, Asana anticipates revenues of $719.0 million to $724.0 million and aims to become free cash flow positive. The announcement follows Asana's commitment to growth and the integration of AI into its platform, with over $500 million in cash and cash equivalents on its balance sheet.