Asana, Inc. today reported financial results for its third quarter fiscal 2025, ended October 31, 2024, with total revenues reaching $183.882 million, a 10% increase year-over-year, surpassing the high end of the company's guidance. Non-GAAP operating margins showed significant improvement, moving from a 6% operating loss margin in the prior year to a 4% operating loss margin.
The company observed continued progress in its enterprise segment, with customers spending $100,000 or more on an annualized basis growing 18% year-over-year. Core customers, defined as those spending $5,000 or more, increased by 11% year-over-year, and non-tech verticals grew 15% year-over-year, accounting for over two-thirds of the business.
Asana's newly launched AI Studio demonstrated strong early momentum, with CEO Dustin Moskovitz noting significant demand and meaningful productivity gains for customers. The company reiterated its commitment to AI Studio's potential to eclipse current revenue scale over time, driven by its consumption-based pricing model.
For the fourth quarter of fiscal 2025, Asana expects revenues between $188 million and $190 million, with a non-GAAP operating loss projected between $7 million and $5 million. The full fiscal year 2025 revenue guidance was updated to a range of $723 million to $725 million, with a non-GAAP operating loss between $250 million and $248 million.
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