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Oct 31, 2024
Asana Q3 2025 Earnings Report
Asana reported stabilizing revenue growth and improved net retention in Q3 FY25, driven by large customer expansion and AI Studio launch.
Key Takeaways
Asana's Q3 FY25 revenue grew 10% year-over-year to $183.9 million, with improving dollar-based net retention rates. The company reported a GAAP net loss of $57.3 million and an EPS of -$0.25. Non-GAAP net loss improved to $4.8 million, with a non-GAAP EPS of -$0.02. Core customer count increased by 11%, while free cash flow remained negative at -$18.2 million.
Q3 revenue increased 10% year-over-year to $183.9 million.
Net loss was $57.3 million, with an EPS of -$0.25.
Core customer count grew 11% to 23,609.
Free cash flow remained negative at -$18.2 million.
Revenue by Geographic Location
Forward Guidance
Asana expects continued revenue growth in Q4 FY25, with improving operating margins and strong AI Studio adoption driving further expansion.
Positive Outlook
- Q4 revenue projected between $187.5M and $188.5M, up 10% year-over-year.
- Non-GAAP net loss per share expected to improve to -$0.02 to -$0.01.
- AI Studio adoption accelerating, expanding total addressable market.
- Improved operating margin expected in the next quarter.
- Expansion of large customer accounts contributing to growth.
Challenges Ahead
- Continued net losses despite improving margins.
- Free cash flow remains negative due to operational investments.
- Macroeconomic headwinds may impact customer spending.
- Competitive pressures in the work management software space.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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