RTTNews | Dec 3, 2021 10:31AM EST

10:31 Friday, December 3, 2021 (RTTNews.com) - California-based office management software provider, Asana, Inc. (ASAN) saw its stock nosedive 26% on the final day of trading after the company provided a fourth-quarter and full-year outlook that fell short of the Street estimates.

The company expects revenues of $104.5 million to $105.5 million with adjusted net loss per share between $0.28 to $0.27 for the next quarter while for the entire year, the company is expecting revenues of $371.0 million to $372.0 million with adjusted net loss per share between $0.96 to $0.95.

The analysts' forecast for the fourth quarter is $106.74 million in revenue with a $0.26 loss per share. For the entire year, the analysts are looking at revenues of $358.75 million with a $0.99 loss per share.

However, the company narrowed the loss it incurred in the third quarter to $69.28 million or $0.37 per share, compared to $73.29 million or $0.65 loss per share in the previous year.

Currently, the stock is trading at $67.90, down $23.10 or 25.38% since the previous close at $91.00. The stock opened at $70.71 in the morning. In the 52-week period, the shares have ranged between $25.41 and $145.79.

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