SAN FRANCISCO--(BUSINESS WIRE)--Today, Asana, Inc., a leading enterprise work management platform, announced new AI capabilities that empower IT leaders to drive intelligent transformation with the right data foundation, safeguards, and controls. Powered by Asana’s Work Graph® data model, these new capabilities enable IT leaders to integrate their work data seamlessly with solutions like Microsoft 365, deploy AI safely, and surface executive-level reports and insights that help drive greater ROI, now. “W ...

A lot of tech stocks have made big turnarounds in the last year or two, but Asana (ASAN -0.85%) is not one of them. The company expects revenue to fall this quarter and is burning cash like crazy. In this video, Travis Hoium covers the company's recent results, which were disastrous for investors.*Stock prices used were end-of-day prices of March 12, 2024. The video was published on March 13, 2024. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended January 31, 2024 Commission file number: 001-39495 | --- | |------------------------------------------------------------------------------------------------------------------------------------------| | | | ASANA, ...

Financial Data and Key Metrics Changes - In Q4, revenues grew 14% year-over-year, while fiscal year revenue grew 19% year-over-year [6][39] - Q4 non-GAAP operating loss margin improved by 16 percentage points year-over-year to 9%, and for fiscal year 2024, it improved by 29 percentage points [7][39] - Q4 free cash flow was negative $17 million, an improvement from negative $30.4 million for the full fiscal year [40][41] Business Line Data and Key Metrics Changes - The number of customers with over $100,000 annualized spend grew 20% year-over-year, and revenue from this cohort grew 29% for the fiscal year [9][39] - Revenue from core customers grew 16% year-over-year, representing 75% of total revenues in Q4 [37] Market Data and Key Metrics Changes - 73% of the Fortune 500 are Asana customers, with significant wins across various industries including manufacturing, healthcare, and financial services [8][9] - The non-tech customer segment showed growth in the high teens, indicating stabilization and potential for recovery [25][55] Company Strategy and Development Direction - The company is focusing on moving upmarket and enhancing its AI offerings, particularly Asana Intelligence, to drive enterprise growth [6][10] - Strategic partnerships with leading AI providers like OpenAI and AWS are being leveraged to enhance product offerings [18][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macroeconomic headwinds but expressed optimism about stabilization and growth opportunities in non-tech sectors [24][25] - The company aims to achieve free cash flow positivity by the end of the year while re-accelerating revenue growth [41][44] Other Important Information - Asana was recognized as a Leader in the Gartner Magic Quadrant for Collaborative Work Management, highlighting its strong market position [22] - The company has received multiple awards for workplace culture and innovation, reinforcing its reputation as a desirable employer [23] Q&A Session Summary Question: What is driving the traction up-tiering in new tiers? - Management noted that interest in AI investments is driving up-tiering, with customers eager to partner with a trusted organization [48][49] Question: Can you comment on the other signs that make you more optimistic about the business? - Optimism stems from growth in non-tech ARR and expectations for tech to follow suit as larger renewals are processed [55][56] Question: Can you provide context on the linearity and month-to-month trends coming out of Q4 into Q1? - Management observed stable booking trends and growth in non-tech business, with expectations for reacceleration post-renewals [68][69] Question: How are you measuring and quantifying AI demand? - AI demand is measured by the uptiering of customers to new packages that include AI features, indicating increased total spend [90] Question: What are the expectations for cash flow and investments moving forward? - The company aims to be free cash flow positive by year-end, with flexibility to invest based on sales productivity and growth [88][89]

Asana, Inc. (ASAN) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this company would post a loss of $0.11 per share when it actually produced a loss of $0.04, delivering a surprise of 63.64%.Over the last four quarters, the company has surpassed conse ...

Exhibit 99.1 Asana Announces Fourth Quarter and Fiscal Year 2024 Results $142 million improvement in cash flows from operating activities year over year Annual revenues from customers spending $100,000 or more grew 29% year over year March 11, 2024 – San Francisco, CA – Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), a leading work management platform, today reported financial results for its fourth quarter and fiscal year ended January 31, 2024. "Asana's Q4 and fiscal year results beat expectations on the top and bo ...

Asana, Inc. (ASAN) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individ ...

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:SentinelOne, Inc. (S) : This cybersecurity solutions company has seen the Zacks Consensus Estimate for its current year earnings increasing 20.5% over the last 60 days.Asana, Inc. (ASAN) : This work management platform provider has seen the Zacks Consensus Estimate for its current year earnings increasing 33.3% over the last 60 days.Prelude Therapeutics Incorporated (PRLD) : This biopharmaceutical company has seen the Zacks Consensus Es ...

courtneykThesis Asana (NYSE:ASAN) stands out as a top performer in the work management solutions sector. The company boasts impressive revenue growth and an unmatched customer retention rate, positioning it as a leader in the industry. CEO Dustin Moskovitz's consistent stock purchases have helped grow his position to represent over 51% of Asana's total outstanding shares. Asana's innovative features, exceptional gross profit margins, and seamless integration with third-party applications underscore its ...

Financial Data and Key Metrics - Q3 revenues grew 18% year-over-year to $166.5 million [5][22] - Non-GAAP operating loss margins improved to 5.9%, a 30 percentage point improvement year-over-year [5] - Gross margins came in at 90.6% [23] - Free cash flow was negative $11.5 million, an improvement from negative 34% in the year-ago quarter [24] - Dollar-based net retention rate for customers spending $100,000 or more was over 120% [5][22] Business Line Data and Key Metrics - Revenue from Core customers (spending $5,000 or more annually) grew 20% year-over-year, representing 74% of total revenue [5][22] - Revenue from enterprise customers grew faster than the overall customer base [5] - The company has 580 customers spending $100,000 or more annually, growing at 18% year-over-year [22] Market Data and Key Metrics - Strong performance in Asia, particularly Japan, and Europe [14] - Growth in diverse industries such as healthcare, financial services, media, transportation, and manufacturing [17] - Notable expansions with high-profile companies like Paramount Global and Direct TV in the media sector [17] Company Strategy and Industry Competition - Focus on enterprise growth, with investments in AI and automation to drive adoption [6][12] - New packaging strategy introduced to accelerate customer migration to Advanced and Enterprise tiers [12][15] - Emphasis on operational efficiency and cost management to improve margins [6][21] Management Commentary on Operating Environment and Future Outlook - Macroeconomic headwinds continue to impact deal cycles and budgets, but signs of stabilization in new business are emerging [6][14] - Management expects non-GAAP operating margin improvement year-over-year for the full year [6] - Positive feedback on AI-powered features like Smart Summaries and Smart Status, with early adoption by leading AI companies [8][12] Other Important Information - The company has over 3 million paid seats worldwide, indicating increasing adoption of Asana [6] - R&D expenses were $51.2 million, or 31% of revenue, showing a year-over-year improvement [23] - Sales and marketing expenses were $82.6 million, or 50% of revenue, also showing improvement [23] Q&A Session Summary Question: Shift to upmarket and enterprise focus [29] - The company feels good about its investments in go-to-market strategies and leadership changes, with early positive feedback on new packaging [30][31] Question: Target for positive free cash flow [32] - The company remains committed to achieving positive free cash flow by the end of 2024, regardless of macroeconomic conditions [33] Question: Renewal dynamics and competitive environment [34] - Renewals are impacted by seat adjustments, particularly from companies that had layoffs, but the company has good visibility into large account renewals [35] Question: Growth outside of impacted verticals like tech [39] - Non-tech sectors are growing faster than tech, with strong performance in healthcare and media [40][41] Question: Billings and bookings growth [42] - The company is not providing fiscal year 2025 guidance yet but will update on the Q4 earnings call [43] Question: Changes in OpenAI governance [45] - Dustin Moskovitz commented that higher-level regulation is needed to address AI governance issues rather than relying on private company structures [46] Question: Early renewal deals [67] - Early renewals are driven by customer interest in AI features and scalability, with potential for more such deals in the future [68][69] Question: Q4 revenue guidance [70] - The Q4 revenue guide reflects current business trends, with the company aiming to over-deliver as it has in the past [71]