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Jan 31, 2024
Asana Q4 2024 Earnings Report
Asana reported strong revenue growth and improved operating margins in Q4 FY24, driven by increased enterprise adoption.
Key Takeaways
Asana's Q4 FY24 revenue increased 14% year-over-year to $171.1 million. The company reported a GAAP net loss of $62.4 million, with an EPS of -$0.28. Non-GAAP net loss improved to $10.1 million, with a non-GAAP EPS of -$0.04. Free cash flow improved to -$17.0 million, reflecting continued operational improvements.
Q4 revenue increased 14% year-over-year to $171.1 million.
Net loss was $62.4 million, with an EPS of -$0.28.
Customers spending $100,000 or more grew 20% to 607.
Free cash flow improved to -$17.0 million, compared to -$26.5 million last year.
Forward Guidance
Asana expects continued revenue growth in Q1 FY25, with a focus on expanding enterprise adoption and AI-driven productivity solutions.
Positive Outlook
- Q1 revenue projected between $168M and $169M, up 10-11% year-over-year.
- Non-GAAP operating loss expected to improve to $23M to $21M.
- Expanding enterprise adoption with a focus on AI-driven solutions.
- Operational efficiencies expected to further enhance margins.
- Growing number of large contract renewals driving revenue stability.
Challenges Ahead
- Persistent net losses despite revenue growth.
- Macroeconomic uncertainty may impact enterprise spending.
- Intensifying competition in the work management software market.
- Potential regulatory challenges in AI-driven solutions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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