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Asana, Inc. (ASAN) is a leading provider of collaborative work management software designed to help teams coordinate and manage their work from start to finish. Founded by Dustin Moskovitz and Justin Rosenstein, who initially developed the tool for internal use at Facebook, Asana has grown into a global enterprise with offices in San Francisco, New York City, and Dublin.
Asana's core product is a cloud-based SaaS platform that enables seamless project management, task tracking, and team collaboration. The tool offers a range of features including task and project management, team communication, real-time project visibility, and automation capabilities. This allows organizations to streamline their workflows, improve efficiency, and achieve better results.
The company offers a freemium model, providing free access for teams of up to 15 members with unlimited projects and tasks. For larger teams and more advanced features, Asana offers subscription plans that generate revenue on a per seat basis.
Asana is supported by major investors such as Benchmark Capital, Andreessen Horowitz, Founders Fund, and Peter Thiel. The company continues to expand its capabilities and improve its offerings, making it a valuable tool for businesses of all sizes across various industries. Recent achievements include enhanced reporting and automation features, which significantly boost productivity and project management efficiency.
The platform is accessible via web and mobile apps available on Asana's website, iTunes, and Google Play. Asana's scalable and dynamic tools have made it an essential part of workflow management for marketing programs, IT approvals, performance management, and more.
Asana reported robust second quarter fiscal 2022 results, achieving a 72% year-over-year revenue growth of $89.5 million. Customers spending $5,000+ annually saw a 97% revenue increase, with those spending $50,000+ rising 111% to 598. Despite this growth, the GAAP net loss widened to $68.4 million, and operating loss was $60.1 million. Free cash flow also remained negative at $9.3 million. Asana raised its revenue outlook for fiscal year 2022, expecting $357 million to $359 million in revenue.
Asana, Inc. (NYSE: ASAN) announced that it will release its financial results for Q2 fiscal year 2022 on September 1 after U.S. market close. The company will hold a webcast at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) that day to discuss the results. Asana serves over 100,000 paying customers globally, including major corporations like Amazon and Under Armour, providing a platform for efficient team management and project orchestration.
Asana, Inc. (NYSE: ASAN) has launched the Asana app for Zoom, now available in the Zoom App Marketplace. This integration aims to enhance productivity for distributed teams by streamlining meeting workflows. Users can create and assign tasks directly from Zoom meetings, enabling better tracking of action items without toggling between applications. The partnership with Zoom allows teams to improve meeting efficacy, with attached recordings and transcripts to ensure all members stay updated on discussions. Asana has over 100,000 paying customers globally.
Asana, Inc (NYSE: ASAN) has appointed Andrew Lindsay to its Board of Directors, signaling a strategic move to enhance its leadership in work management. Lindsay brings extensive experience from HubSpot, where he oversaw corporate development, and has a strong background in partnerships and growth strategies. CEO Dustin Moskovitz highlighted Lindsay's mission-focused mindset as a vital asset for Asana's global expansion. The company serves over 100,000 paying customers worldwide, emphasizing its commitment to aiding organizations in digital transformation and remote work management.
Asana, Inc. (NYSE: ASAN) has been recognized as a leader in G2’s Summer 2021 Grid Report for Project Management, achieving this status for eight consecutive quarters. The report highlights Asana's high customer satisfaction and significant market presence across various regions, including EMEA, APAC, Asia, and Africa. Users praised Asana for its ability to streamline workflows and enhance cross-team collaboration, emphasizing its robust integration capabilities and user-friendly interface.
Asana (NYSE: ASAN) will have its Chief Financial Officer, Tim Wan, presenting at the Berenberg Thematic Software Days Conference on Wednesday, June 16, 2021, at 9:00 a.m. PT / 12:00 p.m. ET. A live webcast and replay will be available on Asana’s investor relations website. Asana, based in San Francisco, serves over 100,000 paying customers globally, including Amazon and Under Armour, facilitating team collaboration and project management. For further details, visit investors.asana.com.
Asana (NYSE: ASAN) has launched new features aimed at reducing distractions for distributed teams. Key updates include Video Messaging in partnership with Vimeo, enabling asynchronous video updates, and a revamped My Tasks system for better task prioritization. The tools integrate with Clockwise for efficient calendar management and offer new desktop app functionalities for enhanced focus. These initiatives respond to increasing demands for productivity in a remote work setting, helping employees to streamline their workflows efficiently.
Asana, Inc. (NYSE: ASAN) reported a strong first quarter for fiscal 2022, with revenues of $76.7 million, marking a 61% increase year over year. Although the company posted a GAAP operating loss of $50.0 million (65% of revenues), it showed improvement in cash flow, decreasing to negative $7.4 million from negative $18.2 million in Q1 2021. Asana ended the quarter with over 100,000 paying customers and a dollar-based net retention rate exceeding 115%. For Q2 fiscal 2022, it anticipates revenues of $81.0 million to $83.0 million, reflecting a 56% to 60% growth.
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