Asana Reports 10% Revenue Growth to $196.9 Million in Q2 Fiscal 2025

Asana, Inc. reported its financial results for the second quarter of fiscal 2025, revealing a revenue increase of 10% year-over-year, reaching $196.9 million compared to $179.2 million in the same period last year. For the first half of the fiscal year, total revenues amounted to $384.2 million, up from $351.7 million in the prior year. Despite the revenue growth, the company continues to experience net losses, reporting a net loss of $48.4 million for the quarter, an improvement from a loss of $72.2 million in the same quarter of the previous year. The net loss for the first half of fiscal 2025 was $88.4 million, compared to $135.9 million for the same period in fiscal 2024.

The company’s operating expenses decreased by 4% to $226.2 million for the quarter, driven by reductions in research and development and sales and marketing costs. Research and development expenses fell by 13% to $79.4 million, while sales and marketing expenses decreased by 2% to $106.7 million. General and administrative expenses, however, increased by 11% to $40.1 million, primarily due to higher personnel-related costs. As a result, Asana's gross margin improved to 90% for the quarter, up from 89% a year earlier, reflecting the benefits of a shift towards higher-priced subscription plans.

Asana's customer base continues to expand, with 25,006 Core customers as of July 31, 2025, contributing approximately 76% of total revenues. This marks an increase from 22,948 Core customers in the same quarter last year. The company also reported 770 customers spending over $100,000 annually, up from 649 in the previous year. Notably, Asana secured its largest subscription agreement to date, valued at $100 million over three years, with a global technology leader.

In terms of liquidity, Asana reported cash, cash equivalents, and marketable securities totaling $475.2 million as of July 31, 2025. The company has also been active in its stock repurchase program, repurchasing 2.0 million shares for $27.8 million during the quarter. Asana's management remains focused on growth, particularly through product development and expanding its customer base, despite ongoing macroeconomic challenges that could impact IT spending and customer renewal decisions. The company anticipates continued investment in its platform, including the integration of artificial intelligence features, to drive future growth.