Summary by Moomoo AI
Asana reported Q2 FY2025 revenues of $179.2 million, up 10% year-over-year, with gross margin at 89%. The company added new Core customers, reaching 22,948 customers spending over $5,000 annually, contributing approximately 75% of total revenue. The dollar-based net retention rate was 98% overall and 99% for Core customers.Operating loss was $76.8 million compared to $73.4 million in the prior year period, as operating expenses increased 7% to $236.0 million. Research and development expenses rose 8% to $91.2 million, while sales and marketing costs grew 13% to $108.6 million, reflecting continued investments in product development and go-to-market capabilities.The company ended the quarter with $521.6 million in cash and marketable securities. During Q2, Asana initiated a $150 million stock repurchase program, buying back 1.4 million shares for $19.7 million. The company maintained its focus on enterprise expansion and AI integration while managing costs in a challenging macroeconomic environment.
