SAN FRANCISCO - Asana, Inc. (NYSE: ASAN) (LTSE: ASAN), a prominent enterprise work management platform with a market capitalization of $3.45 billion and impressive gross margins of 89.34%, has announced the addition of Marc Boroditsky to its Board of Directors. The appointment comes as Asana embarks on a new phase, focusing on becoming a platform that integrates artificial intelligence (AI) with human coordination. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet.
CEO and co-founder of Asana, Dustin Moskovitz, expressed his enthusiasm for Boroditsky’s joining, citing his extensive experience in scaling Software as a Service (SaaS) companies and his role in achieving sustained double-digit growth rates. This expertise aligns well with Asana’s current trajectory, as the company has demonstrated revenue growth of 10.94% over the last twelve months, reaching $723.88 million. Boroditsky’s expertise is expected to be invaluable as Asana pursues its vision of integrating AI into its offerings.
Boroditsky’s previous roles include President of Revenue at Cloudflare, where he spearheaded a transformation in the company’s market approach and built a culture of collaboration and accountability. His tenure at Twilio as Senior Vice President of Global Sales and then Chief Revenue Officer saw a significant increase in revenue and customer growth.
In his statement, Boroditsky expressed excitement about joining Asana at a pivotal time, highlighting the company’s potential to leverage AI in transforming work processes and achieving business outcomes more swiftly.
With this strategic move, Asana aims to strengthen its board by bringing in Boroditsky’s blend of entrepreneurial vision and operational expertise. His background includes scaling companies with both product-led and sales-led go-to-market models.
Asana serves over 169,000 customers, including major corporations like Amazon, Accenture, and Suzuki. The platform is designed to manage and automate various organizational tasks, from goal setting to product launches.
The information in this article is based on a press release statement from Asana, Inc. For deeper insights into Asana’s financial health and growth potential, InvestingPro subscribers have access to 13 additional ProTips and comprehensive analysis, including detailed forecasts from analysts who predict the company will achieve profitability this year.
In other recent news, Asana’s financial results and leadership changes have drawn significant attention. The company reported a fourth-quarter margin outperformance with a forecasted fiscal year 2026 margin of up to 5%, surpassing the market consensus. However, the revenue growth forecast was adjusted to 9%, a decrease from the previously expected 11%. The announcement of CEO Dustin Moskovitz stepping down has added to the company’s challenges, with analysts from Piper Sandler, UBS, RBC Capital, Scotiabank, and Morgan Stanley adjusting their price targets for Asana shares. Piper Sandler maintained an Overweight rating despite reducing the price target to $18, citing a focus on sustainable growth. UBS set a price target of $14, while RBC Capital reaffirmed its Underperform rating with a $10 target, expressing concerns over growth prospects. Scotiabank lowered its target to $12, maintaining a Sector Perform rating, and Morgan Stanley adjusted its target to $15, highlighting leadership transitions and cautious fiscal guidance. These developments reflect the broader challenges Asana faces in a fluctuating tech market.
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