Asana CEO Moskovitz to step down, company seeks successor

SAN FRANCISCO - Asana Inc. (NYSE: ASAN) (LTSE: ASAN), a prominent work management platform with impressive gross profit margins of 89%, has revealed that its co-founder and CEO, Dustin Moskovitz, is planning to retire from his role and transition to Chair upon the appointment of a new CEO. The company, which according to InvestingPro data has maintained a strong balance sheet with more cash than debt, has initiated a search for Moskovitz’s successor to lead its next phase of growth and profitability.

Moskovitz, who has been at the helm since co-founding the company nearly 17 years ago, expressed his gratitude for the journey and confidence in Asana’s future. He emphasized the company’s success in AI innovation and its service to over 85% of Fortune 500 companies, which has helped drive revenue to over $706 million with 11.9% year-over-year growth. In his future role as Chair, Moskovitz will concentrate on product vision and strategic guidance, particularly in the realm of AI, while also dedicating time to his philanthropic endeavors with Good Ventures and Open Philanthropy.

Lorrie Norrington, Asana’s Lead Independent Director, acknowledged Moskovitz’s visionary leadership which has seen the company’s AI-powered solutions achieve significant growth. The Board is committed to a thorough search for a long-term leader who can build on this foundation and accelerate Asana’s trajectory.

Under Moskovitz’s leadership, Asana has grown to serve over 150,000 customers and generate over $700 million in annual revenue. The company has also established a strong global presence and an award-winning corporate culture, with its stock showing remarkable momentum, up 62% over the past six months. For detailed analysis and additional insights, investors can access comprehensive financial metrics and exclusive ProTips through InvestingPro’s in-depth research reports, which transform complex Wall Street data into actionable intelligence.

Asana also announced its financial results for the fourth quarter and fiscal year 2025, with further details to be discussed in a conference call and live webcast scheduled for today.

This transition announcement is based on a press release statement from Asana, Inc. and reflects Moskovitz’s intention to remain involved with the company’s strategy while stepping away from day-to-day operations. The search for a new CEO is part of Asana’s long-term planning to maintain its position at the forefront of work management solutions and AI innovation.

In other recent news, Asana has reported several significant developments that could impact its financial standing. BofA Securities has raised its price target for Asana to $30.00, up from $19.00, while maintaining a Buy rating. This adjustment follows an improvement in Asana’s net retention ratio during the third quarter, indicating a positive shift from previous trends impacted by budget constraints. The introduction of AI Studio has proven beneficial, with some use cases showing a doubling in annual recurring revenue, which BofA sees as a major value driver. Piper Sandler also maintained an Overweight rating with a $27.00 price target, citing Asana’s strong gross margin model and potential for improved profitability through cost discipline.

Both firms highlighted the appointment of new CFO Sonalee Parekh, whose expertise in efficient growth and expense management is expected to enhance Asana’s financial strategies. Piper Sandler noted three consecutive quarters of stabilized top-line growth and an expanding enterprise adoption as key factors in their positive outlook. Asana’s focus on operational efficiency and AI capabilities is seen as critical for future growth, with Piper Sandler emphasizing the company’s attractive risk-reward profile. The recent upgrades and positive assessments from these firms underscore a growing confidence in Asana’s strategic initiatives and financial prospects.

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