Summary by Moomoo AI
Asana, a leading work management software platform, reported a 19% revenue increase to $652.5 million in fiscal 2024 from $547.2 million in fiscal 2023. The company's net loss decreased to $257.0 million in fiscal 2024 from $407.8 million in fiscal 2023. Asana's customer base grew, with 21,646 Core customers contributing approximately 71% of revenues for fiscal 2024. The company also reported over 3 million paid users as of January 31, 2024. Despite macroeconomic challenges, Asana's dollar-based net retention rate remained over 100% for fiscal 2024, indicating strong customer retention and expansion within its existing customer base. Asana's business development has been marked by rapid growth, with over 150,000 paying customers using its platform for various operational workflows. The company's future plans include continued investment in research and development and sales and marketing to address significant opportunities among addressable customers worldwide.
