Page 1

EX - 99.1 2 asana8 - kex991q1fy22.htm EX - 99.1 Asana Announces Record First Quarter Fiscal 2022 Revenues First quarter revenue growth accelerated to 61 % year over year Over 100,000 total paying customers Revenues from customers spending $ 5,000 or more grew 82 % year over year Raised fiscal year 2022 revenue outlook June 3 , 2021 - San Francisco , CA - Asana , Inc. ( NYSE : ASAN ) , a leading work management platform for teams , today reported financial results for its first quarter fiscal 2022 ended April 30 , 2021 . ● " We are very pleased with the momentum in our first quarter . We reported accelerated revenue growth of 61 percent year over year , we closed large expansions within our existing base and continued to see momentum with some of our largest enterprise customers , " said Dustin Moskovitz , co - founder and chief executive officer of Asana . " Whether teams are fully remote and working from home , or in offices coordinating work across departments and geographies , clarity on who is doing what by when is essential . More and more customers are turning to Asana and the Asana Work Graph to provide a scalable , cross - functional , and easy - to - adopt solution . " First Quarter Fiscal 2022 Financial Highlights Revenues : Revenues were $ 76.7 million , an increase of 61 % year over year . Operating Loss : GAAP operating loss was $ 50.0 million , or 65 % of revenues , compared to GAAP operating loss of $ 29.1 million , or 61 % of revenues , in the first quarter of fiscal 2021. Non - GAAP operating loss was $ 33.3 million , or 43 % of revenues , compared to non - GAAP operating loss of $ 23.9 million , or 50 % of revenues , in the first quarter of fiscal 2021 . ● Exhibit 99.1 Cash Flow : Cash flows from operating activities were negative $ 7.4 million , compared to negative $ 18.2 million in the first quarter of fiscal 2021. Free cash flow was negative $ 7.7 million , compared to negative $ 17.1 million in the first quarter of fiscal 2021 . Business Highlights Announced the availability of Universal Reporting which gives leaders real - time visibility into work across their organization . Net Loss : GAAP net loss was $ 60.7 million , compared to GAAP net loss of $ 35.8 million in the first quarter of fiscal 2021. GAAP net loss per share was $ 0.37 , compared to GAAP net loss per share of $ 0.47 in the first quarter of fiscal 2021. Non - GAAP net loss was $ 33.8 million , compared to non - GAAP net loss of $ 23.7 million in the first quarter of fiscal 2021. Non - GAAP net loss per share was $ 0.21 , compared to non - GAAP net loss per share of $ 0.31 in the first quarter of fiscal 2021 . Introduced Asana Partners , featuring over 200 Technology Partners including new Zendesk , ServiceNow , Adobe , Canva , InVision , Looker and Lucidchart integrations . Launched Asana's Channel Partner network across 75 countries . Expanded with four new languages - Traditional Chinese , Russian , Dutch , and Polish , with three more languages coming soon . Named to Inc. Magazine's annual list of Best Workplaces for the fourth year in a row . Ended the quarter with over 100,000 paying customers . 1