Q2 2025 Asana Inc Earnings Call Transcript
Key Points
- Asana Inc (ASAN) reported a 10% year-over-year revenue growth, ahead of their guidance.
- The company achieved a free cash flow positive of $12.8 million, reflecting operational discipline.
- The number of customers spending over $100,000 grew 17% year over year.
- Asana Inc (ASAN) is seeing strong early momentum in their AI Studio beta program, attracting industry leaders across various sectors.
- The company is expanding its enterprise offerings and pursuing FedRAMP certification, unlocking new market opportunities in government agencies and regulated industries.
- Macro headwinds persist, impacting overall growth.
- The technology vertical remains a drag on overall revenue growth.
- Ongoing budget scrutiny and longer sales cycles continue to impact business, leading to deal delays.
- The company is experiencing elongated decision-making cycles for larger deals, causing some deals to push out of the quarter.
- Despite positive indicators, the overall dollar-based net retention rate was 98%, indicating some challenges in retaining revenue from existing customers.
Good day and thank you for standing by. Welcome to the Asana second-quarter fiscal year 2025 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to Catherine Buan, Head of Investor Relations. Please go ahead.
Good afternoon, and thank you for joining us on today's conference call to discuss the financial results for Asana's second quarter of fiscal year 2025. With me on today's call are Dustin Moskovitz, Asana's Co-Founder and CEO; Anne Raimondi, our Chief Operating Officer and Head of Business; and Tim Wan, our Chief Financial Officer.
Today's call will include forward-looking statements, including statements regarding our expectations for free cash flow, our financial outlook, strategic plans, our market position and growth opportunities. Forward-looking statements involve risks, uncertainties, and assumptions that may cause our actual results to be materially different from those expressed or
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