11:47 AM EDT, 03/12/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph, and COO remarks in the last paragraph.)

Asana (ASAN) shares were down 11.2% in recent Tuesday trading after the company reported a fiscal Q4 loss and said it saw macro headwinds during the quarter.

The company late Monday reported a fiscal Q4 non-GAAP net loss of $0.04 per share, narrower than a loss of $0.15 a year ago. Analysts polled by Capital IQ expected a loss of $0.10.

Revenue for the quarter ended Jan. 31 was $171.1 million, up from $150.2 million a year earlier. Analysts surveyed by Capital IQ expected $168 million.

The company expects a fiscal Q1 non-GAAP net loss of $0.09 to $0.08 per share and revenue of $168 million to $169 million. Analysts polled by Capital IQ expect a normalized loss of $0.08 on revenue of $168.7 million.

For fiscal 2025, the company expects a non-GAAP net loss of $0.22 to $0.19 per share and revenue of $716 million to $722 million. Analysts expect a normalized loss of $0.20 on revenue of $720.1 million.

"During the quarter, we continued to feel the impact of the macroeconomic headwinds, increased budget scrutiny and reductions in head count among our customers, especially in the technology vertical, which has been a drag to our growth," Chief Operating Officer Anne Raimondi said on an earnings conference call late Monday, according to a Capital IQ transcript. "However, across the business, there are some early signs that hint at modest stabilization."

Price: 16.72, Change: -2.08, Percent Change: -11.04