Asana shares up 25% on Thursday: explore why

Asana Inc (NYSE: ASAN) is up 25% on Thursday after the work management platform reported better-than-expected results for its fiscal second quarter and raised guidance.

Notable figures in Asana Q2 results

• Lost $113 million versus the year-ago $68.4 million
• Per-share loss climbed from 40 cents to 59 cents
• On an adjusted basis, loss was 34 cents per share
• Revenue jumped 51% year-on-year to $134.9 million
• Consensus was 39 cents loss on $127.8 million revenue
• Free cash flow was down to negative $42.3 million

CEO Moskovitz buys Asana shares

Asana shares are also up this morning because CEO Dustin Moskovitz revealed to have bought $350 million worth of company shares. In the press release, he said:

Asana shares up on raised guidance

For the full financial year, Asana now forecasts its revenue to fall between $544 million and $547 million. In comparison, experts had forecast a lower $535.5 million instead. Moskovitz added:

Wall Street currently has an “overweight” rating on the tech stock and sees upside to $33 on average.