Asana Q1 Loss Widens

(RTTNews) - Asana, Inc. (ASAN) Thursday reported first-quarter net loss of $60.7 million or $0.37 per share, compared to a loss of $35.8 million or $0.47 per share last year.

Adjusted loss was $33.8 million or $0.21 per share, compared to loss of $23.7 million or $0.31 per share last year.

Revenues were $76.7 million, an increase of 61% year over year from $47.7 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.27 per share on revenues of $70.14 million.

Looking forward to the second quarter, Asana expects revenues of $81.0 million to $83.0 million and adjusted loss of $0.27 to $0.26 per share. Analysts currently estimate revenues of $74.07 million and loss of $0.27 per share.

ASAN closed Thursday's trading at $36.79, down $0.07 or 0.19%, on the Nasdaq. The stock, however, gained $3.96 or 10.76%, in the after-hours trading.