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Oct 31, 2020
Asana Q3 2020 Earnings Report
Reported strong revenue growth and increased customer spending.
Key Takeaways
Asana reported a strong Q3 with a 55% year-over-year increase in total revenue, reaching $58.9 million. The company also saw growth in revenue from customers spending $5,000 or more annually, with an increase of over 80% year-over-year.
Total revenue grew 55% year-over-year to $58.9 million.
GAAP operating loss was $61.9 million, representing 105.1% of revenues.
Ended the quarter with over 89,000 paying customers.
Customers spending $5,000 or more on an annualized basis grew by 58% year-over-year to 8,938.
Asana
Asana
Forward Guidance
For the fourth quarter of fiscal 2021, Asana currently expects revenues of $62 million to $63 million, representing year-over-year growth of 43% to 45%, Non-GAAP operating loss of $42.5 million to $39.5 million and Non-GAAP net loss per share of $0.27 to $0.25, assuming basic and diluted weighted average shares outstanding of approximately 158 million.
Positive Outlook
- Revenues of $62 million to $63 million, representing year-over-year growth of 43% to 45%
- Non-GAAP operating loss of $42.5 million to $39.5 million
- Non-GAAP net loss per share of $0.27 to $0.25
- Assuming basic and diluted weighted average shares outstanding of approximately 158 million
- Full fiscal year 2021 revenues of $220.6 million to $221.6 million, representing year-over-year growth of 55%
Challenges Ahead
- Non-GAAP operating loss of $130.8 million to $127.8 million
- Non-GAAP net loss per share of $1.24 to $1.21
- Assuming basic and diluted weighted average shares outstanding of approximately 106 million
- These statements are forward-looking and actual results may materially differ
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort