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Asana | 8-K: Asana Announces First Quarter Fiscal 2025 Results

SEC ·  May 31 04:11

Summary by Moomoo AI

On May 30, 2024, Asana, Inc., a leading work management platform, reported its financial results for the first fiscal quarter of 2025, which ended on April 30, 2024. The company announced a 13% year-over-year increase in revenues, reaching $172.4 million. Asana experienced a GAAP operating loss of $66.2 million, which is 38% of revenues, showing an improvement from the previous year's 43%. The non-GAAP operating loss was $15.8 million, or 9% of revenues, also an improvement from the prior year. The GAAP net loss remained stable at $0.28 per share, while the non-GAAP net loss improved to $0.06 per share. Operating cash flow showed significant improvement, with a reduction in cash burn from negative $14.6 million in the first quarter of fiscal 2024 to negative $1.9 million in the same quarter of...Show More
On May 30, 2024, Asana, Inc., a leading work management platform, reported its financial results for the first fiscal quarter of 2025, which ended on April 30, 2024. The company announced a 13% year-over-year increase in revenues, reaching $172.4 million. Asana experienced a GAAP operating loss of $66.2 million, which is 38% of revenues, showing an improvement from the previous year's 43%. The non-GAAP operating loss was $15.8 million, or 9% of revenues, also an improvement from the prior year. The GAAP net loss remained stable at $0.28 per share, while the non-GAAP net loss improved to $0.06 per share. Operating cash flow showed significant improvement, with a reduction in cash burn from negative $14.6 million in the first quarter of fiscal 2024 to negative $1.9 million in the same quarter of fiscal 2025. Free cash flow also improved, with a decrease in cash burn from negative $16.6 million to negative $4.3 million. The company highlighted growth in its Core customer base, with a 12% increase in customers spending $5,000 or more annually and a 19% increase in customers spending $100,000 or more annually. Asana's dollar-based net retention rates for Core customers and those spending $100,000 or more annually were 102% and 108%, respectively. The company also launched a new suite of AI tools and released its second-annual State of IT research. For the second quarter of fiscal 2025, Asana expects revenues between $177.0 million and $178.0 million and a non-GAAP operating loss between $23.0 million and $21.0 million. For the full fiscal year 2025, the company forecasts revenues between $719.0 million and $724.0 million and a non-GAAP operating loss between $59.0 million and $55.0 million.

This announcement is a separate document:

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