- #Profile asana work graph builder crmmccracken drivers
- #Profile asana work graph builder crmmccracken full
It also needs to spend a lot to retain existing users. It is important to highlight for investors that Asana needs to acquire users as fast as possible, given the pressure from competitors. These strategies will continue to impact operating margin and EPS as Asana needs to ramp sales to close new leads. Asana also has the option to drive expansion from existing customers. 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. As we will explore in the next section, Asana is also deploying impressive product and sales strategies to accelerate its growth. The favorable external and internal trends continue to drive my solid conviction in the growth story. Readers will recall that the macro tailwinds propelling the adoption of digital transformation/cloud platforms remain in place after the second COVID wave. Asana expects revenue growth of 43% to 45% in Q4 and FY'21 revenue growth of 55%.
#Profile asana work graph builder crmmccracken full
Going forward, Asana shared impressive guidance for the next quarter and the full year. Asana observed favorable growth trends, including churn decline to the pre-COVID level, record traffic and signups, and expanding deal sizes. Finally, total paying customers grew to 89,000 (+7,000 q/q) compared to 73,000 in the previous year. 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.
Asana reported that customers spending $50k or more grew 104%, highlighting its expansion motion despite the pandemic. Overall, DBNRR declined to 115%+ (versus 120%+ in the same period last year) due to the pandemic's impact on its small business customers. DBNRR for customers spending above $50k/year was over 140%. DBNRR is a metric to track usage expansion from existing customers. DBNRR (dollar-based net retention rate for customers spending above $5k/year was above 125%.
Revenue growth benefited from solid customer retention, expansion, and new logos. It is important to highlight these metrics due to worries about competitive pressure.įirstly, revenue growth was impressive at 55% y/y. Asana shared growth metrics that point to strong momentum and sustainable growth in the near term.
#Profile asana work graph builder crmmccracken drivers
Besides the external drivers (cloud adoption, digital transformation, work-from-home) of growth, the execution strategy remains compelling. Growth (Bullish)Īsana reported impressive results last quarter. Regardless, the potential for multiple expansion can be catalyzed by an improved growth story in 2021. Valuation has baked in near-perfect execution. The financials provide ample room for Asana to drive more growth. The product evolution story remains promising for Asana to improve its competitive moat. I expect aggressive investments in market share expansion in 2021. Favorable macro trends, improved momentum, and a solid growth factor continue to propel Asana's ( NYSE: ASAN) story.
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