$ASAN (-3,69 %) Asana Inc. reported earnings

Q3 FY2025 results ended on October 31st 2024

- Revenue: $183.9M, +10% YoY

- GAAP Net Loss: $57.3M vs $61.8M YoY

- Core customers: 23,609, +11% YoY

- Enterprise customers ($100K+): 683, +18% YoY

CEO Dustin Moskovitz: "The launch of AI Studio is the birth of a new category, unlocking a massive Total Addressable Market (TAM) and growth opportunity for the company. While still early, we have seen significant demand, with customers experiencing meaningful productivity gains across their workflows."

🌱Revenue & Growth

- Overall dollar-based net retention rate: 96%

- Core customer retention rate: 98%

- Enterprise customer retention rate: 99%

- Over 150,000 total customers including Amazon, Accenture, Suzuki

💰Profits & Financials

- GAAP Gross Margin: 89.2% vs 90.4% YoY

- Non-GAAP Operating Loss: $7.6M vs $9.8M YoY

- Operating Cash Flow: -$14.9M vs -$8.2M YoY

- Free Cash Flow: -$18.2M vs -$11.5M YoY

- Cash and investments: $456M

📌Business Highlights

- Launched Asana AI Studio for no-code workflow automation

- Appointed Sonalee Parekh as CFO

- Announced pursuit of FedRAMP authorization

- Published 2024 State of Work Innovation report

- Hosted largest-ever Work Innovation Summit

- Launched Mastercard partnership offering 20% rebate to new customers

🔮Future Outlook

Q4 FY2025:

- Revenue: $187.5M-$188.5M, +10% YoY

- Non-GAAP Operating Loss: $6.5M-$5.5M

- Non-GAAP EPS: -$0.02 to -$0.01

FY2025:

- Revenue: $723M-$724M, +11% YoY

- Non-GAAP Operating Loss: $46M-$45M

- Non-GAAP EPS: -$0.15 to -$0.14