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asana Asana Announces Record Third Quarter Fiscal 2022 Revenues ; Surpasses $ 100 Million Quarterly Revenues December 2 , 2021 1:00 PM EST Reported strong revenue growth , up 70 % year over year Revenues from customers spending $ 5,000 or more on an annualized basis grew 96 % year over year Exceeded two million paid seats SAN FRANCISCO -- ( BUSINESS WIRE ) -- Asana , Inc. ( NYSE : ASAN ) ( LTSE : ASAN ) , a leading work management platform for teams , today reported financial results for its third quarter fiscal 2022 ended October 31 , 2021 . " Q3 was another strong quarter , led by record user adoption and large enterprise wins , " said Dustin Moskovitz , co - founder and chief executive officer of Asana . " We are excited to be announcing that we exceeded two million paid seats and we are landing bigger with larger customers and expanding significantly across our customer base . With some of the most valuable companies in the world deploying Asana to manage initiatives across entire divisions , Asana exemplifies what cross - functional work management at scale looks like . " Third Quarter Fiscal 2022 Financial Highlights • • Revenues : Revenues were $ 100.3 million , an increase of 70 % year over year . Operating Loss : GAAP operating loss was $ 68.1 million , or 68 % of revenues , compared to GAAP operating loss of $ 61.9 million , or 105 % of revenues , in the third quarter of fiscal 2021 . Non - GAAP operating loss was $ 41.3 million , or 41 % of revenues , compared to non - GAAP operating loss of $ 37.3 million , or 63 % of revenues , in the third quarter of fiscal 2021 . • Net Loss : GAAP net loss was $ 69.3 million , compared to GAAP net loss of $ 73.3 million in the third quarter of fiscal 2021. GAAP net loss per share was $ 0.37 , compared to GAAP net loss per share of $ 0.65 in the third quarter of fiscal 2021. Non - GAAP net loss was $ 42.5 million , compared to non - GAAP net loss of $ 38.3 million in the third 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 third quarter of fiscal 2021 . • Cash Flow : Cash flows from operating activities were negative $ 28.5 million , compared to negative $ 34.4 million in the third quarter of fiscal 2021. Free cash flow was negative $ 29.5 million , compared to negative $ 19.5 million in the third quarter of fiscal 2021 . Business Highlights • Total number of paying customers grew by 7,000 , ending the third quarter with a total of over 114,000 . • The number of customers spending $ 5,000 or more on an annualized basis grew to 14,143 , an increase of 58 % year over year . Revenues from these customers grew 96 % year over year . • The number of customers spending $ 50,000 or more on an annualized basis grew to 739 , an increase of 132 % year over year . • Overall dollar - based net retention rate was over 120 % . • Dollar - based net retention rate for customers with $ 5,000 or more in annualized spend was 130 % . • Dollar - based net retention rate for customers with $ 50,000 or more in annualized spend was over 145 % . • Unveiled the Enterprise Work Graph at the Asana Scale event , a suite of capabilities to align global enterprise teams and streamline cross - functional work from anywhere , including a new Goals API , Workflow Builder and Library , Universal Reporting on data trends and workflows over time , and additional data security and scalability features . Expanded Asana Partners Enterprise IT ecosystem including new integrations with Splunk and Netskope .