Asana Shares Surge 24% on Q2 Beat 
<p><a href='https://financialmodelingprep.com/financial-summary/ASAN'>Asana, Inc. (NYSE:ASAN)</a> shares closed more than 24% higher on Thursday following the company’s reported Q2 results, with EPS of ($0.34) coming in better than the Street estimate of ($0.39). Revenue was $134.9 million, compared to the Street estimate of $127.27 million.</p>
<p>Key business metrics remain healthy and the company's increased focus on moving upmarket is driving large customer activity. Importantly, the company also addressed its balance sheet raising $350 million in a private placement by CEO Dustin Moskovitz, while setting expectations for reaching positive free cash flow prior to 2024 year-end. </p>
<p>Analysts at Oppenheimer said they are comfortable with management's ability to execute to this target, though caution that meaningful operating leverage improvement is still several quarters away into 2024. </p>
<p>The company expects Q3/23 EPS in the range of ($0.33)-($0.32), compared to the Street estimate of ($0.32), and revenue in the range of $138.5-139.5 million, compared to the Street estimate of $137.6 million.</p>

NYSE:ASAN