Financial Performance - Revenues for Q3 fiscal 2025 were $183.9 million, representing a 10% year-over-year increase[4] - GAAP operating loss was $60.2 million, or 33% of revenues, an improvement from a loss of $63.4 million, or 38% of revenues, in Q3 fiscal 2024[4] - Asana expects Q4 fiscal 2025 revenues to be between $187.5 million and $188.5 million, reflecting a year-over-year growth of 10%[9] - For fiscal 2025, Asana anticipates revenues of $723.0 million to $724.0 million, indicating an 11% year-over-year growth[10] - Revenues for the three months ended October 31, 2023, were $183,882 million, a 10.3% increase from $166,503 million in the same period last year[34] Customer Growth - The number of Core customers grew to 23,609, an increase of 11% year-over-year, with revenues from Core customers also growing 11%[5] - The dollar-based net retention rate for Core customers was 98% in Q3[5] - The number of customers spending $100,000 or more annually increased to 683, an 18% year-over-year growth[5] Cash Flow and Expenses - Free cash flow for Q3 was negative $18.2 million, compared to negative $11.5 million in Q3 fiscal 2024[4] - Net cash used in operating activities for the three months ended October 31, 2023, was $(14,890) million, compared to $(8,233) million in the same period last year[38] - Net cash provided by investing activities was $41,516 million for the three months ended October 31, 2023, compared to $(140,738) million in the same period last year[38] - Net cash used in financing activities was $(48,919) million for the three months ended October 31, 2023, compared to $6,669 million in the same period last year[38] Profitability Metrics - Gross profit for the nine months ended October 31, 2023, was $477,953 million, compared to $434,237 million for the same period last year, reflecting a 10.1% increase[34] - GAAP gross profit for the three months ended October 31, 2023, was $164,084, compared to $150,450 for the same period last year, representing a 9.9% increase[40] - Non-GAAP gross profit for the nine months ended October 31, 2023, was $479,005, up from $435,446, reflecting a 10% growth year-over-year[40] - GAAP net loss for the three months ended October 31, 2023, was $(57,326), an improvement from $(61,750) in the prior year, indicating a 3.9% reduction in losses[42] - Non-GAAP net loss per share for the three months ended October 31, 2023, was $(0.02), compared to $(0.04) in the same quarter last year, showing a 50% improvement[42] Operating Expenses - Total operating expenses for the three months ended October 31, 2023, were $224,264 million, up from $213,871 million, indicating an increase of 4.8%[34] - GAAP research and development expenses for the three months ended October 31, 2023, were $83,286, up from $81,028, representing a 2.8% increase[40] - Non-GAAP sales and marketing expenses for the nine months ended October 31, 2023, were $268,455, compared to $243,769, reflecting a 10.1% increase year-over-year[40] - GAAP general and administrative expenses for the three months ended October 31, 2023, were $36,270, up from $34,494, reflecting a 5.2% increase[40] Future Outlook - The launch of AI Studio is expected to unlock a significant Total Addressable Market (TAM) and enhance productivity for customers[3] - Non-GAAP operating loss for Q4 fiscal 2025 is projected to be between $6.5 million and $5.5 million, with a 3% operating loss margin[9] - GAAP operating margin for the three months ended October 31, 2023, was (32.7)%, an improvement from (38.1)% in the prior year[40] - Non-GAAP operating margin for the three months ended October 31, 2023, was 28.6%, compared to 32.2% in the same quarter last year, indicating a decline[40]

Core Viewpoint - Asana's disappointing earnings report and guidance have led to a significant decline in its stock price, reflecting ongoing struggles with growth and profitability [1][5]. Financial Performance - Asana reported a revenue increase of 10% to $179.2 million, slightly surpassing estimates of $177.7 million [2]. - The company experienced a 17% growth in customers spending over $100,000, indicating potential momentum in high-value customer segments [2]. - GAAP operating loss widened from $73.4 million to $76.8 million, highlighting continued challenges in achieving breakeven [2]. - The adjusted per-share loss was $0.05, which was worse than the $0.04 loss from the same quarter last year but better than the expected loss of $0.08 [2]. Future Guidance - Asana's guidance for Q3 revenue is projected to be between $180 million and $181 million, representing an 8%-9% increase, but falling short of the consensus estimate of $182.3 million [4]. - The company anticipates an adjusted loss per share of $0.07, compared to estimates of a $0.04 loss [4]. - Full-year revenue guidance was lowered from $719 million-$724 million to $719 million-$721 million, below the consensus of $722.9 million [4]. Management Outlook - Despite the disappointing results, CEO Dustin Moskovitz expressed optimism regarding the company's enterprise transition and advancements in AI, noting momentum in key areas and a record number of multi-year deals [3].

Asana Inc ASAN shares tanked in early trading on Wednesday, even after the company reported upbeat second-quarter results.The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.JMP Securities On AsanaAnalyst Patrick Walravens maintained a Market Outperform rating while cutting the price target from $27 to $21.Asana reported mixed quarterly results, with a non-GAAP loss of five cents per share coming in better than consensus of a loss of eight cents per share, ...

DNY59 Investment Thesis Asana, Inc. (NYSE:ASAN) delivered fiscal Q2 2025 earnings results and guidance that were unpleasant and led to its share price falling by slightly more than 10% after hours. More specifically, it was a reminder that Asana is no longer a high-growth business. Even though Asana carries nearly 20% of its market cap as cash once its debt profile is factored in, Asana is still not attractively priced to entice investors to buy the dip on this stock. In summary, I continue to make the ...

Asana, Inc. (NYSE:ASAN) Q2 2025 Earnings Call Transcript September 3, 2024 4:30 PM ET Company Participants Catherine Buan - Head of IR Dustin Moskovitz - Co-Founder and CEO Anne Raimondi - COO and Head of Business Tim Wan - CFO Conference Call Participants Taylor McGinnis - UBS Josh Baer - Morgan Stanley George Iwanyc - Oppenheimer Rich Magnus - Wolfe Research Michael Funk - Bank of America Brent Thill - Jefferies Jackson Ader - KeyBanc Capital Markets Patrick Walravens - Citizens JMP Operator Good day and ...

Asana, Inc. (ASAN) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 37.50%. A quarter ago, it was expected that this company would post a loss of $0.08 per share when it actually produced a loss of $0.06, delivering a surprise of 25%.Over the last four quarters, the company has surpassed conse ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________ FORM 10-Q ___________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Numb ...

Exhibit 99.1 Asana Announces Second Quarter Fiscal 2025 Results Record multi-year deals signed Delivered $15.9M in operating cash flow and $12.8M in free cash flow Customers spending $100,000 or more on an annualized basis grew 17% year over year September 3, 2024 – San Francisco, CA – Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), a leading work management platform, today reported financial results for its second quarter fiscal 2025 ended July 31, 2024. "In Q2, Asana continued to execute on our enterprise transitio ...

AndreyPopov Asana (NYSE:ASAN) was a prime example of the exuberance of 2021 and the eventual bust in the stock prices that followed shortly after. In hindsight, many don't consider the correction in general market during that time as anything significant as stock market rebounded to all time highs within a short timeframe. But there are a lot of names that are still trading around all time lows (I find ARKK to be good proxy to measure this phenomena) Data by YChartsWhile I think many such names may never ...

Kimberly White Asana (NYSE:ASAN) is one of the few tech stocks which still trades around the same levels as the 2022 tech crash. The company has seen growth disappear as customers sought to limit IT expenses amidst the higher interest rate environment and rise of generative AI. Management believes that they are seeing encouraging signs of a reversal, making ASAN a unique software business with high torque to an improving macro environment. The company has a net cash balance sheet and management expects to g ...