Asana Inc. on Wednesday reported and forecast narrower-than-expected losses, saying the figures reflected a firmer path to profitability. The project-management software provider — whose chief executive is a co-founder of Meta Platforms Inc.’s
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Facebook — forecast first-quarter sales of $150 million to $151 million, with an adjusted net loss of between 18 cents and 19 cents a share. That’s better than FactSet forecasts for a 23-cent per-share loss with revenue of $150.4 million.
For the full year, Asana
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said it expects revenue of between $638 million and $648 million, with an adjusted net loss of 55 cents to 59 cents. Analysts polled by FactSet expected a 79 cent-per-share loss, on sales of $645.8 million. The company reported a fourth-quarter net loss of $95 million, or 44 cents a share. That compares with a loss of $90 million, or 48 cents a share, in the same quarter last year. Revenue rose 34% to $150.2 million, compared with $111.9 million in the same quarter last year. Adjusted for stock-based compensation, restructuring and other costs, Asana lost 15 cents a share, compared with 25 cents a year earlier. Analysts polled by FactSet expected Asana to reported an adjusted loss of 27 cents …