Earnings: Asana, Marvell Technology, PagerDuty, UiPath

Scott Peters
02 Dec, 2022
New York City

Asana Inc dropped 11.1% to $16.06 after the work management platform operator reported wider loss than a year ago in its latest quarter.

Revenue in the fiscal third quarter increased 41% to $141.4 million and net loss expanded to $100 million or 49 cents from $69.2 million or 37 cents a year ago.

Marvell Technology declined 3.8% to $43.67 after the chipmaker reported weaker-than-anticipated quarterly results.

Revenue in the fiscal third quarter increased 27% to $1.54 billion, lower end of the company's guidance on August 25.

In the third quarter, the company swung to a profit of $13 million from a loss of $63 million or 2 cents from a loss of 8 cents diluted share a year ago.

The company guided fourth quarter revenue of $1.4 billion and breakeven on diluted earnings per share.

PagerDuty Inc increased 4.8% to $23.59 after the company reported better-than-expected revenue and GAAP-based loss expanded. 

The cloud computing company said fiscal third quarter revenue increased 31% to $94.2 million and reported 710 customers with annual revenue of $100,000. 

Loss in the fiscal third quarter increased to $32.5 million from $26.3 million or 36 cents from 31 cents a diluted share a year ago.  

PagerDuty guided fourth quarter revenue between $98 million and $100.0 million, an increase between 25% and 27% from a year ago. 

For the full fiscal year 2023, the company guided revenue between $368.0 million and $370.0 million, an increase of 31% from a year ago. 

UiPath Inc increased 11.5% to $14.41 after the company reported quarterly results that surprised investors.

The enterprise automation software developer said the third quarter revenue increased 19% to $262.7 million.

Net loss in the quarter declined to $57.7 million  from $122.7 million or 10 cents from 23 cents a year ago.