Q3 top and bottom line above high end of
guidance; Fiscal 2025 outlook increased
On track to deliver positive Free Cash Flow for
Q4
Enters new era as multi-product company with
the launch of AI Studio
Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), a leading enterprise work
management platform, today reported financial results for its third
quarter fiscal 2025 ended October 31, 2024.
“The launch of AI Studio is the birth of a new category,
unlocking a massive Total Addressable Market (TAM) and growth
opportunity for the company,” said Dustin Moskovitz, co-founder and
chief executive officer of Asana. “While still early, we have seen
significant demand, with customers experiencing meaningful
productivity gains across their workflows. The productivity
benefits and early traction not only validate the market demand for
AI-powered work management solutions but also underscore Asana's
leadership position in this space.”
"We delivered a solid quarter with stabilizing revenue growth,
improving in-quarter net retention, and expansion with large
customers," said Sonalee Parekh, chief financial officer of Asana.
"As we execute our plan, we're demonstrating that growth and
profitability improvements can progress in parallel. With AI Studio
expanding our TAM and our commitment to driving productivity
benefits and efficiencies, we see significant potential for both
re-acceleration of growth and operating margin expansion."
Third Quarter Fiscal 2025 Financial Highlights
- Revenues: Revenues were $183.9 million, an increase of 10% year
over year.
- Operating Loss: GAAP operating loss was $60.2 million, or 33%
of revenues, compared to GAAP operating loss of $63.4 million, or
38% of revenues, in the third quarter of fiscal 2024. Non-GAAP
operating loss was $7.6 million, or 4% of revenues, compared to
non-GAAP operating loss of $9.8 million, or 6% of revenues, in the
third quarter of fiscal 2024.
- Net Loss: GAAP net loss was $57.3 million, compared to GAAP net
loss of $61.8 million in the third quarter of fiscal 2024. GAAP net
loss per share was $0.25, compared to GAAP net loss per share of
$0.28 in the third quarter of fiscal 2024. Non-GAAP net loss was
$4.8 million, compared to non-GAAP net loss of $8.2 million in the
third quarter of fiscal 2024. Non-GAAP net loss per share was
$0.02, compared to non-GAAP net loss per share of $0.04 in the
third quarter of fiscal 2024.
- Cash Flow: Cash flows from operating activities were negative
$14.9 million, compared to negative $8.2 million in the third
quarter of fiscal 2024. Free cash flow was negative $18.2 million,
compared to negative $11.5 million in the third quarter of fiscal
2024.
Business Highlights
- The number of Core customers, or customers spending $5,000 or
more on an annualized basis, grew to 23,609 in Q3, an increase of
11% year over year. Revenues from Core customers in Q3 grew 11%
year over year.
- The number of customers spending $100,000 or more on an
annualized basis in Q3 grew to 683, an increase of 18% year over
year.
- Overall dollar-based net retention rate in Q3 was 96%.
- Dollar-based net retention rate for Core customers in Q3 was
98%.
- Dollar-based net retention rate for customers spending $100,000
or more on an annualized basis in Q3 was 99%.
- Launched Asana AI Studio, a no-code builder that lets any team
design any workflow, embed AI agents without code, and deploy the
workflow directly where teams are already working in Asana.
- Appointed new Chief Financial Officer, Sonalee Parekh, along
with Josh Abdulla as Head of Customer Experience.
- Announced Asana’s commitment to pursuing FedRAMP (Federal Risk
and Authorization Management Program) authorization to serve the
complex needs of enterprises in regulated industries.
- Published our 2024 State of Work Innovation report, which
uncovers what’s holding organizations back – unpacking four hidden
"taxes" and how innovative companies can minimize them.
- Hosted Asana’s largest-ever Work Innovation Summit event in New
York City – diving into how Asana is shaping the new era of work
with partners, customers, thought leaders, and more.
- Celebrated first-ever Asana Work Innovation Award winners,
comprised of five customers who each combine creativity with
technology to craft solutions as imaginative as they are effective.
Winners included NCAA, Disney Theatrical Group, World Resources
Institute, Beauty Pie, and Children’s Health.
- Launched a partnership with Mastercard, offering Mastercard
Business cardholders a 20% rebate on an annual subscription to
first-time Asana customers.
Financial Outlook
For the fourth quarter of fiscal 2025, Asana expects:
- Revenues of $187.5 million to $188.5 million, representing year
over year growth of 10%.
- Non-GAAP operating loss of $6.5 million to $5.5 million, with
3% operating loss margin.
- Non-GAAP net loss per share of $0.02 to $0.01, assuming basic
and diluted weighted average shares outstanding of approximately
229 million.
For fiscal 2025, Asana expects:
- Revenues of $723.0 million to $724.0 million, representing year
over year growth of 11%.
- Non-GAAP operating loss of $46.0 million to $45.0 million, with
6% operating loss margin.
- Non-GAAP net loss per share of $0.15 to $0.14, assuming basic
and diluted weighted average shares outstanding of approximately
229 million.
These statements are forward-looking and actual results may
materially differ. Refer to the “Forward-Looking Statements”
section below for information on the factors that could cause
Asana’s actual results to materially differ from these
forward-looking statements.
A reconciliation of non-GAAP outlook measures to corresponding
GAAP measures is not available on a forward-looking basis without
unreasonable effort due to the uncertainty regarding, and the
potential variability of, many of these costs and expenses that may
be incurred in the future. Asana has provided a reconciliation of
GAAP to non-GAAP financial measures in the financial statement
tables for its third quarter fiscal year 2025 non-GAAP results
included in this press release.
Earnings Conference Call Information
Asana will hold a conference call and live webcast today to
discuss these results at 1:30 p.m. Pacific Time. A live webcast and
replay will be available on the Asana Investor Relations webpage
at: https://investors.asana.com.
Forward-Looking Statements
This press release contains “forward-looking” statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are based on management’s beliefs and assumptions and on
information currently available to management. Forward-looking
statements include, but are not limited to, statements about our
market opportunity, the potential and impact of AI, the expected
benefits of AI Studio, including our expectations regarding revenue
to be generated by AI Studio, our ability to execute on our current
strategies, our technology and brand position, expectations
regarding product launches, Asana’s outlook for the fiscal quarter
and the full fiscal year ending January 31, 2025, Asana’s outlook
for free cash flow, expected benefits of our offerings, and our
market position. Forward-looking statements generally relate to
future events or Asana’s future financial or operating performance.
Forward-looking statements include all statements that are not
historical facts and in some cases can be identified by terms such
as “anticipate,” “expect,” “intend,” “plan,” “believe,” “continue,”
“could,” “potential,” “may,” “will,” “goal,” or similar expressions
and the negatives of those terms. However, not all forward-looking
statements contain these identifying words. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors, including factors beyond Asana’s control, that may cause
Asana’s actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. These risks include, but are not limited to, risks and
uncertainties related to: Asana’s ability to achieve future growth
and sustain its growth rate, Asana’s ability to attract and retain
customers and increase sales to its customers, Asana’s ability to
develop and release new products and services and to scale its
platform, including the successful integration of AI, Asana’s
ability to increase adoption of its platform through Asana’s
self-service model, Asana’s ability to maintain and grow its
relationships with strategic partners, the highly competitive and
rapidly evolving market in which Asana participates, Asana’s
international expansion strategies, and broader macroeconomic
conditions. Further information on risks that could cause actual
results to differ materially from forecasted results are included
in Asana’s filings with the SEC, including Asana’s Annual Report on
Form 10-K for the year ended January 31, 2024 and subsequent
filings with the SEC. Any forward-looking statements contained in
this press release are based on assumptions that Asana believes to
be reasonable as of this date. Except as required by law, Asana
assumes no obligation to update these forward-looking statements,
or to update the reasons if actual results differ materially from
those anticipated in the forward-looking statements.
Use of Non-GAAP Financial Measures
To supplement Asana’s consolidated financial statements, which
are prepared and presented in accordance with GAAP, Asana utilizes
certain non-GAAP financial measures to assist in understanding and
evaluating its core operating performance. In this release, Asana’s
non-GAAP gross profit, gross margin, operating expenses, operating
expenses as a percentage of revenue, operating loss, operating
margin, net loss, net loss per share, and free cash flow are not
presented in accordance with GAAP and are not intended to be used
in lieu of GAAP presentations of results of operations. These
non-GAAP financial measures, which may be different from similarly
titled measures used by other companies, are presented to enhance
investors’ overall understanding of Asana’s financial performance
and should not be considered a substitute for, or superior to, the
financial information prepared and presented in accordance with
GAAP. Investors are encouraged to review the reconciliation of
these non-GAAP measures to their most directly comparable GAAP
financial measures which can be found in the accompanying financial
statements included with this press release.
Asana is presenting these non-GAAP financial measures because it
believes that these non-GAAP financial measures provide useful
information about its financial performance, enhance the overall
understanding of Asana’s past performance and future prospects,
facilitate period-to-period comparisons of operations against other
companies in Asana’s industry, and allow for greater transparency
with respect to important metrics used by Asana’s management for
financial and operational decision-making.
Asana believes excluding the following items from its non-GAAP
financial measures is useful to investors and others in assessing
Asana’s operating performance due to the following factors:
- Stock-based compensation expenses. Although stock-based
compensation is an important aspect of the compensation of our
employees and executives, management believes it is useful to
exclude stock-based compensation expenses to better understand the
long-term performance of Asana’s core business and to facilitate
comparison of its results to those of peer companies.
- Employer payroll tax associated with RSUs. The amount of
employer payroll tax-related items on employee stock transactions
is dependent on Asana’s stock price and other factors that are
beyond its control and that do not correlate to the operation of
the business.
- Non-cash and non-recurring expenses. Non-cash expenses include
charges for impairment of long-lived assets. Non-recurring expenses
include costs related to restructuring. Asana believes the
exclusion of certain non-cash and non-recurring items provides
useful supplemental information to investors and facilitates the
analysis of its operating results and comparison of operating
results across reporting periods.
There are a number of limitations related to the use of non-GAAP
financial measures as compared to GAAP financial measures,
including that the non-GAAP financial measures exclude stock-based
compensation expense, which has been, and will continue to be for
the foreseeable future, a significant recurring expense in Asana’s
business and an important part of its compensation strategy.
In addition to the non-GAAP financial measures outlined above,
Asana also uses the non-GAAP financial measure of free cash flow,
which is defined as net cash from operating activities less cash
used for purchases of property and equipment and capitalized
internal-use software costs, plus non-recurring expenditures such
as costs related to restructuring. Asana believes free cash flow is
an important liquidity measure of the cash that is available, after
capital expenditures and operational expenses, for investment in
its business and to make acquisitions. Asana believes that free
cash flow is useful to investors as a liquidity measure because it
measures Asana’s ability to generate or use cash. There are a
number of limitations related to the use of free cash flow as
compared to net cash from operating activities, including that free
cash flow excludes capital expenditures, the benefits of which are
realized in periods subsequent to those when expenditures are
made.
Definitions of Business Metrics
Customers spending $5,000 or more on an annualized basis, or
Core customers
We define customers spending $5,000 or more, which we also refer
to as Core customers, as those organizations on a paid subscription
plan that had $5,000 or more in annualized GAAP revenues in a given
quarter, inclusive of discounts.
Customers spending $100,000 or more on an annualized basis
We define customers spending $100,000 or more as those
organizations on a paid subscription plan that had $100,000 or more
in annualized GAAP revenues in a given quarter, inclusive of
discounts.
Dollar-based net retention rate
Asana’s reported dollar-based net retention rate equals the
simple arithmetic average of its quarterly dollar-based net
retention rate for the four quarters ending with the most recent
fiscal quarter. Asana calculates its dollar-based net retention
rate by comparing its revenues from the same set of customers in a
given quarter, relative to the comparable prior-year period. To
calculate Asana’s dollar-based net retention rate for a given
quarter, Asana starts with the revenues in that quarter from
customers that generated revenues in the same quarter of the prior
year. Asana then divides that amount by the revenues attributable
to that same group of customers in the prior-year quarter. Current
period revenues include any upsells and are net of contraction or
attrition over the trailing 12 months, but exclude revenues from
new customers in the current period. Asana expects its dollar-based
net retention rate to fluctuate in future periods due to a number
of factors, including the expected growth of its revenue base, the
level of penetration within its customer base, its ability to
retain its customers, and the macroeconomic environment.
About Asana
Asana, a leading enterprise work management platform, is where
work connects to goals. Over 150,000 customers like Amazon,
Accenture, and Suzuki rely on Asana to manage and automate
everything from goal setting and tracking to capacity planning to
product launches. To learn more, visit www.asana.com.
Disclosure of Material Information
Asana announces material information to its investors using SEC
filings, press releases, public conference calls, and on its
investor relations page of Asana’s website at
https://investors.asana.com. Asana uses these channels, as well as
social media, including its X (formerly Twitter) account (@asana),
its blog (blog.asana.com), its LinkedIn page
(www.linkedin.com/company/asana), its Instagram account (@asana),
its Facebook page (www.facebook.com/asana/), Threads profiles
(@asana and @moskov) and TikTok account (@asana), to communicate
with investors and the public about Asana, its products and
services and other matters. Therefore, Asana encourages investors,
the media and others interested in Asana to review the information
it makes public in these locations, as such information could be
deemed to be material information.
ASANA, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(in thousands, except per
share data)
(unaudited)
Three Months Ended October
31,
Nine Months Ended October
31,
2024
2023
2024
2023
Revenues
$
183,882
$
166,503
$
535,542
$
481,369
Cost of revenues(1)
19,798
16,053
57,589
47,132
Gross profit
164,084
150,450
477,953
434,237
Operating expenses:
Research and development(1)
83,286
81,028
257,228
241,715
Sales and marketing(1)
104,708
98,349
317,689
288,034
General and administrative(1)
36,270
34,494
106,182
106,537
Total operating expenses
224,264
213,871
681,099
636,286
Loss from operations
(60,180
)
(63,421
)
(203,146
)
(202,049
)
Interest income and other income
(expense), net
4,949
3,479
16,069
13,310
Interest expense
(934
)
(1,012
)
(2,831
)
(2,947
)
Loss before provision for income taxes
(56,165
)
(60,954
)
(189,908
)
(191,686
)
Provision for income taxes
1,161
796
3,329
2,946
Net loss
$
(57,326
)
$
(61,750
)
$
(193,237
)
$
(194,632
)
Net loss per share:
Basic and diluted
$
(0.25
)
$
(0.28
)
$
(0.84
)
$
(0.89
)
Weighted-average shares used in
calculating net loss per share:
Basic and diluted
229,624
221,776
228,830
219,094
_______________
(1) Amounts include stock-based
compensation expense as follows:
Three Months Ended October
31,
Nine Months Ended October
31,
2024
2023
2024
2023
Cost of revenues
$
354
$
413
$
1,030
$
1,177
Research and development
28,087
29,384
88,872
83,928
Sales and marketing
15,837
15,584
48,334
43,438
General and administrative
7,677
7,485
22,466
22,026
Total stock-based compensation expense
$
51,955
$
52,866
$
160,702
$
150,569
ASANA, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(in thousands)
(unaudited)
October 31, 2024
January 31, 2024
Assets
Current assets
Cash and cash equivalents
$
196,772
$
236,663
Marketable securities
258,541
282,801
Restricted cash
316
—
Accounts receivable, net
66,892
88,327
Prepaid expenses and other current
assets
48,837
51,925
Total current assets
571,358
659,716
Property and equipment, net
96,627
96,543
Operating lease right-of-use assets
177,626
181,731
Other assets
28,545
23,970
Total assets
$
874,156
$
961,960
Liabilities and Stockholders’
Equity
Current liabilities
Accounts payable
$
12,606
$
6,907
Accrued expenses and other current
liabilities
69,307
75,821
Deferred revenue, current
279,560
265,306
Operating lease liabilities, current
21,556
19,179
Total current liabilities
383,029
367,213
Term loan, net
39,904
43,618
Deferred revenue, noncurrent
2,581
5,916
Operating lease liabilities,
noncurrent
207,527
215,084
Other liabilities
1,845
3,733
Total liabilities
634,886
635,564
Stockholders' equity
Common stock
2
2
Additional paid-in capital
2,002,764
1,821,216
Accumulated other comprehensive loss
(983
)
(236
)
Accumulated deficit
(1,762,513
)
(1,494,586
)
Total stockholders’ equity
239,270
326,396
Total liabilities and stockholders’
equity
$
874,156
$
961,960
ASANA, INC.
SUMMARY OF CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Three Months Ended October
31,
Nine Months Ended October
31,
2024
2023
2024
2023
Cash flows from operating
activities
Net loss
$
(57,326
)
$
(61,750
)
$
(193,237
)
$
(194,632
)
Adjustments to reconcile net loss to net
cash used in operating activities:
Allowance for expected credit losses
653
683
1,025
2,072
Depreciation and amortization
4,437
3,531
12,730
10,407
Amortization of deferred contract
acquisition costs
6,696
5,668
19,189
15,971
Stock-based compensation expense
51,955
52,866
160,702
150,569
Net accretion of discount on marketable
securities
(1,090
)
(636
)
(4,646
)
(1,568
)
Non-cash lease expense
4,640
3,954
13,528
13,998
Impairment of long-lived assets
—
—
—
5,009
Amortization of discount on revolving
credit facility and term loan issuance costs
30
31
91
91
Changes in operating assets and
liabilities:
Accounts receivable
(2,304
)
(2,407
)
20,610
12,251
Prepaid expenses and other current
assets
(2,254
)
(4,707
)
(15,852
)
(13,764
)
Other assets
(1,513
)
(606
)
(4,594
)
742
Accounts payable
(1,759
)
6,857
4,610
3,612
Accrued expenses and other liabilities
(5,035
)
(2,668
)
(11,408
)
(16,885
)
Deferred revenue
(7,050
)
(5,693
)
10,920
21,843
Operating lease liabilities
(4,970
)
(3,356
)
(14,598
)
(12,310
)
Net cash used in operating activities
(14,890
)
(8,233
)
(930
)
(2,594
)
Cash flows from investing
activities
Purchases of marketable securities
(59,502
)
(145,018
)
(166,628
)
(284,312
)
Sales of marketable securities
—
12
—
12
Maturities of marketable securities
104,309
7,500
195,605
25,641
Purchases of property and equipment
(1,372
)
(1,255
)
(4,064
)
(7,221
)
Capitalized internal-use software
costs
(1,919
)
(1,977
)
(4,702
)
(4,325
)
Net cash provided by (used in) investing
activities
41,516
(140,738
)
20,211
(270,205
)
Cash flows from financing
activities
Repayment of term loan
(625
)
(625
)
(1,875
)
(2,500
)
Repurchases of common stock
(54,847
)
—
(73,869
)
—
Proceeds from exercise of stock
options
1,755
783
3,884
3,856
Proceeds from employee stock purchase
plan
4,799
6,511
13,665
15,069
Taxes paid related to net share settlement
of equity awards
(1
)
—
(5
)
(7
)
Net cash provided by (used in) financing
activities
(48,919
)
6,669
(58,200
)
16,418
Effect of foreign exchange rates on cash,
cash equivalents, and restricted cash
(474
)
(3,081
)
(656
)
(1,868
)
Net decrease in cash, cash equivalents,
and restricted cash
(22,767
)
(145,383
)
(39,575
)
(258,249
)
Cash, cash equivalents, and restricted
cash
Beginning of period
219,855
413,697
236,663
526,563
End of period
$
197,088
$
268,314
$
197,088
$
268,314
ASANA, INC.
Reconciliation of GAAP to
Non-GAAP Data
(in thousands, except
percentages)
(unaudited)
Three Months Ended October
31,
Nine Months Ended October
31,
2024
2023
2024
2023
Reconciliation of gross profit and
gross margin
GAAP gross profit
$
164,084
$
150,450
$
477,953
$
434,237
Plus: stock-based compensation and related
employer payroll tax associated with RSUs
361
418
1,052
1,209
Non-GAAP gross profit
$
164,445
$
150,868
$
479,005
$
435,446
GAAP gross margin
89.2
%
90.4
%
89.2
%
90.2
%
Non-GAAP adjustments
0.2
%
0.2
%
0.2
%
0.3
%
Non-GAAP gross margin
89.4
%
90.6
%
89.4
%
90.5
%
Reconciliation of operating
expenses
GAAP research and development
$
83,286
$
81,028
$
257,228
$
241,715
Less: stock-based compensation and related
employer payroll tax associated with RSUs
(28,419
)
(29,788
)
(90,897
)
(86,416
)
Non-GAAP research and development
$
54,867
$
51,240
$
166,331
$
155,299
GAAP research and development as
percentage of revenue
45.3
%
48.7
%
48.0
%
50.2
%
Non-GAAP research and development as
percentage of revenue
29.8
%
30.8
%
31.1
%
32.3
%
GAAP sales and marketing
$
104,708
$
98,349
$
317,689
$
288,034
Less: stock-based compensation and related
employer payroll tax associated with RSUs
(16,001
)
(15,745
)
(49,234
)
(44,438
)
Adjustment for: restructuring (costs)
benefit
—
—
—
173
Non-GAAP sales and marketing
$
88,707
$
82,604
$
268,455
$
243,769
GAAP sales and marketing as percentage of
revenue
56.9
%
59.1
%
59.3
%
59.8
%
Non-GAAP sales and marketing as percentage
of revenue
48.2
%
49.6
%
50.1
%
50.6
%
GAAP general and administrative
$
36,270
$
34,494
$
106,182
$
106,537
Less: stock-based compensation and related
employer payroll tax associated with RSUs
(7,768
)
(7,621
)
(22,904
)
(22,636
)
Less: impairment of long-lived assets
—
—
—
(5,009
)
Adjustment for: restructuring (costs)
benefit
—
—
—
(26
)
Non-GAAP general and administrative
$
28,502
$
26,873
$
83,278
$
78,866
GAAP general and administrative as
percentage of revenue
19.7
%
20.7
%
19.8
%
22.1
%
Non-GAAP general and administrative as
percentage of revenue
15.5
%
16.1
%
15.6
%
16.4
%
Reconciliation of operating loss and
operating margin
GAAP loss from operations
$
(60,180
)
$
(63,421
)
$
(203,146
)
$
(202,049
)
Plus: stock-based compensation and related
employer payroll tax associated with RSUs
52,549
53,572
164,087
154,699
Plus: impairment of long-lived assets
—
—
—
5,009
Adjustment for: restructuring costs
(benefit)
—
—
—
(147
)
Non-GAAP loss from operations
$
(7,631
)
$
(9,849
)
$
(39,059
)
$
(42,488
)
GAAP operating margin
(32.7
)%
(38.1
)%
(37.9
)%
(42.0
)%
Non-GAAP adjustments
28.6
%
32.2
%
30.6
%
33.2
%
Non-GAAP operating margin
(4.1
)%
(5.9
)%
(7.3
)%
(8.8
)%
ASANA, INC.
Reconciliation of GAAP to
Non-GAAP Data
(in thousands, except
percentages and per share data)
(unaudited)
Three Months Ended October
31,
Nine Months Ended October
31,
2024
2023
2024
2023
Reconciliation of net loss
GAAP net loss
$
(57,326
)
$
(61,750
)
$
(193,237
)
$
(194,632
)
Plus: stock-based compensation and related
employer payroll tax associated with RSUs
52,549
53,572
164,087
154,699
Plus: impairment of long-lived assets
—
—
—
5,009
Adjustment for: restructuring costs
(benefit)
—
—
—
(147
)
Non-GAAP net loss
$
(4,777
)
$
(8,178
)
$
(29,150
)
$
(35,071
)
Reconciliation of net loss per
share
GAAP net loss per share, basic
$
(0.25
)
$
(0.28
)
$
(0.84
)
$
(0.89
)
Non-GAAP adjustments to net loss
0.23
0.24
0.71
0.73
Non-GAAP net loss per share, basic
$
(0.02
)
$
(0.04
)
$
(0.13
)
$
(0.16
)
Weighted-average shares used in GAAP and
non-GAAP per share calculation, basic and diluted
229,624
221,776
228,830
219,094
Three Months Ended October
31,
Nine Months Ended October
31,
2024
2023
2024
2023
Computation of free cash flow
Net cash provided by (used in) investing
activities
$
41,516
$
(140,738
)
$
20,211
$
(270,205
)
Net cash provided by (used in) financing
activities
$
(48,919
)
$
6,669
$
(58,200
)
$
16,418
Net cash used in operating activities
$
(14,890
)
$
(8,233
)
$
(930
)
$
(2,594
)
Less: purchases of property and
equipment
(1,372
)
(1,255
)
(4,064
)
(7,221
)
Less: capitalized internal-use software
costs
(1,919
)
(1,977
)
(4,702
)
(4,325
)
Plus: restructuring costs paid
—
—
—
707
Free cash flow
$
(18,181
)
$
(11,465
)
$
(9,696
)
$
(13,433
)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241204897438/en/
Catherine Buan Asana Investor Relations ir@asana.com
Frances Ward Asana Communications press@asana.com
Asana (NYSE:ASAN)
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