![]() ![]() Revenue growth benefited from solid customer retention, expansion, and new logos. DBNRR (dollar-based net retention rate for customers spending above $5k/year was above 125%. DBNRR is a metric to track usage expansion from existing customers. DBNRR for customers spending above $50k/year was over 140%. Overall, DBNRR declined to 115%+ (versus 120%+ in the same period last year) due to the pandemic's impact on its small business customers. That's a strong momentum indicator and a metric that should be closely tracked because Asana has an abundance of customers below the $5k/year ARR threshold that will continue to propel the expansion motion.Īsana reported that customers spending $50k or more grew 104%, highlighting its expansion motion despite the pandemic. ![]() Finally, total paying customers grew to 89,000 (+7,000 q/q) compared to 73,000 in the previous year. Asana observed favorable growth trends, including churn decline to the pre-COVID level, record traffic and signups, and expanding deal sizes. Going forward, Asana shared impressive guidance for the next quarter and the full year. #Profile asana work graph builder crmmccracken full Asana expects revenue growth of 43% to 45% in Q4 and FY'21 revenue growth of 55%. Readers will recall that the macro tailwinds propelling the adoption of digital transformation/cloud platforms remain in place after the second COVID wave. The favorable external and internal trends continue to drive my solid conviction in the growth story. As we will explore in the next section, Asana is also deploying impressive product and sales strategies to accelerate its growth. The sales strategy is a blend of a seamless conversion funnel for small businesses via a freemium model and assists from sales teams for contracts with large enterprises. Asana also has the option to drive expansion from existing customers. These strategies will continue to impact operating margin and EPS as Asana needs to ramp sales to close new leads. It is important to highlight for investors that Asana needs to acquire users as fast as possible, given the pressure from competitors. It also needs to spend a lot to retain existing users. #Profile asana work graph builder crmmccracken full.#Profile asana work graph builder crmmccracken drivers. ![]()
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