Page 1

asana Asana Announces Record Second Quarter Fiscal 2022 Revenues September 1 , 2021 12:00 PM EDT Second quarter revenue growth accelerated to 72 % year over year Revenues from customers spending $ 5,000 or more on an annualized basis grew 97 % year over year Customers spending $ 50,000 or more on an annualized basis increased to 598 , up 111 % year over year Raised fiscal year 2022 revenue outlook SAN FRANCISCO -- ( BUSINESS WIRE ) -- Asana , Inc. ( NYSE : ASAN ) ( LTSE : ASAN ) , a leading work management platform for teams , today reported financial results for its second quarter fiscal 2022 ended July 31 , 2021 . " In the second quarter we accelerated total revenue growth , continued to report strong customer growth and increased dollar - based net retention rates across the board , " said Dustin Moskovitz , co - founder and chief executive officer of Asana . “ Customers are adopting Asana everywhere : across our major geographies and across all sizes of teams . We saw particular strength in the enterprise , with the number of customers spending over $ 50,000 up 111 percent . Stay tuned for more enterprise announcements in October . " Second Quarter Fiscal 2022 Financial Highlights • • Revenues : Revenues were $ 89.5 million , an increase of 72 % year over year . Operating Loss : GAAP operating loss was $ 60.1 million , or 67 % of revenues , compared to GAAP operating loss of $ 33.6 million , or 65 % of revenues , in the second quarter of fiscal 2021 . Non - GAAP operating loss was $ 38.6 million , or 43 % of revenues , compared to non - GAAP operating loss of $ 27.2 million , or 52 % of revenues , in the second quarter of fiscal 2021 . • Net Loss : GAAP net loss was $ 68.4 million , compared to GAAP net loss of $ 41.1 million in the second quarter of fiscal 2021. GAAP net loss per share was $ 0.40 , compared to GAAP net loss per share of $ 0.54 in the second quarter of fiscal 2021. Non - GAAP net loss was $ 39.8 million , compared to non - GAAP net loss of $ 26.3 million in the second quarter of fiscal 2021 . Non - GAAP net loss per share was $ 0.23 , compared to non - GAAP net loss per share of $ 0.34 in the second quarter of fiscal 2021 . • Cash Flow : Cash flows from operating activities were negative $ 8.5 million , compared to negative $ 22.1 million in the second quarter of fiscal 2021. Free cash flow was negative $ 9.3 million , compared to negative $ 21.9 million in the second quarter of fiscal 2021 . Business Highlights • Ended the second quarter with over 107,000 paying customers . • The number of customers spending $ 5,000 or more on an annualized basis grew to 12,806 , an increase of 61 % year over year . Revenues from these customers grew 97 % year over year . • The number of customers spending $ 50,000 or more on an annualized basis grew to 598 , an increase of 111 % year over year . • Overall dollar - based net retention rate was over 118 % . • Dollar - based net retention rate for customers with $ 5,000 or more in annualized spend was over 125 % . • Dollar - based net retention rate for customers with $ 50,000 or more in annualized spend was over 145 % . • Unveiled new productivity suite features including video messaging , intelligent prioritization and smart calendar assistant , and a new desktop app . . Expanded to include three new languages - Korean , Swedish , and Italian . Asana is now available in 13 languages , empowering global teams in their native languages . • Announced Asana app for Zoom , available in the Zoom App Marketplace , allowing distributed teams to drive meeting workflows and collaborate . • Topped G2's Enterprise Grid ® for the eighth consecutive quarter .