$ASAN (-5,26%) 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
