Q2 2025 Earnings Summary
Reported on Sep 3, 2024 (After Market Close)
Pre-Earnings Price$13.29Last close (Sep 3, 2024)
Post-Earnings Price$11.55Open (Sep 4, 2024)
Price Change
$-1.74(-13.09%)
- Strong focus on increasing seats deployed, Asana's most important metric for growth, enhancing value delivery across organizations and leading to increased pricing power over time.
- Healthy pipeline and good visibility into deal conversions, with a majority of deals that moved from Q2 to Q3 already closed, expected to positively impact future revenue.
- Growing excitement and positive feedback for Asana's AI products among its largest customers, opening new opportunities and conversations, particularly around AI initiatives within organizations.
- Elongated sales cycles and deal slippage: Asana experienced delays in closing deals, especially larger ones, due to elongated decision-making cycles. "We saw a number of deals pushed out..." , and "some deals stalled in the pipeline..."
- Technology vertical dragging growth: The technology sector is negatively impacting Asana's overall revenue growth. "The technology vertical continues to drag our overall growth..." , and "U.S. growth was 9% year-over-year, heavily impacted by the technology sector exposure."
- Departure of CFO introduces uncertainty: CFO Tim Wan is leaving the company after nearly 8 years, which could affect financial leadership. "We announced Tim's departure..." , and "it was an incredibly difficult decision..."
Research analysts covering Asana.