Summary by Moomoo AI
Asana, Inc. reported a net loss of $63.7 million for the three months ended April 30, 2024, a slight increase from the $61.5 million net loss in the same period the previous year. The basic and diluted net loss per share remained constant at $0.28. Despite the net loss, the company saw a 13% increase in revenues, rising from $152.4 million in 2023 to $172.4 million in 2024. The cost of revenues also increased by 20%, resulting in a consistent gross margin of 90%. The company's operating expenses totaled $220.8 million, with research and development, sales and marketing, and general and administrative expenses contributing to the majority of the costs. Asana's stock-based compensation expense was $48.6 million for the quarter, an increase from $41.5 million in the previous year. The company's...Show More