(ASAN) 2024 Q1 法說會逐字稿

Good afternoon, and thank you for joining the Asana First Quarter Fiscal Year '24 Earnings Call. My name is Kate, and I will be the moderator for today's call. (Operator Instructions)

下午好，感謝您參加 Asana 第一季度 24 財年收益電話會議。我叫凱特，我將擔任今天電話會議的主持人。 （操作員說明）

I would now like to pass the call over to our host, Catherine Buan, you may proceed.

我現在想把電話轉給我們的主持人 Catherine Buan，你可以繼續。

Good afternoon, and thank you for joining us on today's conference call to discuss the financial results for Asana's first quarter fiscal year 2024. With me on today's call are Dustin Moskovitz, Asana's Co-Founder and CEO; Anne Raimondi, our Chief Operating Officer and Head of Business; and Tim Wan, our Chief Financial Officer.

下午好，感謝您參加今天的電話會議，討論 Asana 2024 財年第一季度的財務業績。今天和我一起參加電話會議的有 Asana 的聯合創始人兼首席執行官 Dustin Moskovitz；我們的首席運營官兼業務主管 Anne Raimondi；和我們的首席財務官 Tim Wan。

Today's call will include forward-looking statements, including statements regarding our expectations for free cash flow, our financial outlook, strategic plans, our market position and growth opportunities. Forward-looking statements involve risks, uncertainties and assumptions that may cause our actual results to be materially different from those expressed or implied by the forward-looking statements. Please refer to our filings with the SEC, including our most recent annual report Form 10-K and quarterly report on Form 10-Q for additional information on risks, uncertainties and assumptions that may cause actual results to differ materially from those set forth in such statements.

今天的電話會議將包括前瞻性陳述，包括關於我們對自由現金流的預期、我們的財務前景、戰略計劃、我們的市場地位和增長機會的陳述。前瞻性陳述涉及風險、不確定性和假設，這些風險、不確定性和假設可能導致我們的實際結果與前瞻性陳述中明示或暗示的結果存在重大差異。請參閱我們向美國證券交易委員會提交的文件，包括我們最近的年度報告 10-K 表格和季度報告 10-Q 表格，以了解有關可能導致實際結果與此類報告中規定的結果大不相同的風險、不確定性和假設的更多信息聲明。

In addition, during today's call, we will discuss non-GAAP financial measures. These non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. Reconciliation between GAAP and non-GAAP financial measures and a discussion of the limitations of using non-GAAP measures versus their closest GAAP equivalents are available in our earnings release which is posted on our Investor Relations webpage at investors.asana.com.

此外，在今天的電話會議中，我們將討論非 GAAP 財務措施。這些非 GAAP 財務措施是對根據 GAAP 編制的財務業績措施的補充，而不是替代或優於這些措施。 GAAP 和非 GAAP 財務指標之間的協調以及使用非 GAAP 指標與其最接近的 GAAP 等值的限制的討論可在我們的收益發布中找到，該發布發佈在我們的投資者關係網頁 investors.asana.com 上。

And with that, I'd like to turn the call over to Dustin.

有了這個，我想把電話轉給達斯汀。

Thank you, Catherine, and thank you all for joining us on the call today.

謝謝你，凱瑟琳，感謝大家今天加入我們的電話會議。

Asana had a good first quarter. Q1 revenues grew 26% year-over-year. Customers over $100,000 grew faster at 31%, and non-GAAP operating margins had a 30 percentage point improvement year-over-year.

Asana 第一季度表現不錯。第一季度收入同比增長 26%。超過 100,000 美元的客戶增長更快，達到 31%，非 GAAP 營業利潤率同比提高 30 個百分點。

Our growth continues to be fueled by some of the largest and most strategic companies in the world. In Q1, we closed and expanded some of our largest deals across industries such as media, professional services, health care, logistics and financial services. Our largest deployment is now at 200,000 paid seats. We're really excited about this partnership and how much impact we've had across their organization, and this is still the beginning of what's possible here. As far as we know, this is the largest deployment of Collaborative Work Management from any provider.

我們的增長繼續受到世界上一些最大和最具戰略意義的公司的推動。在第一季度，我們在媒體、專業服務、醫療保健、物流和金融服務等行業完成並擴大了一些最大的交易。我們最大的部署現在是 200,000 個付費席位。我們對這種合作夥伴關係以及我們對他們的組織產生的影響感到非常興奮，這仍然是這裡可能發生的事情的開始。據我們所知，這是所有提供商最大的協作工作管理部署。

Our strategic customers are partnering with Asana to define what work management at scale looks like. These partnerships will be particularly critical as we move to the next generation of work management, which I'll talk about more in a moment.

我們的戰略客戶正在與 Asana 合作，定義大規模工作管理的樣子。隨著我們轉向下一代工作管理，這些夥伴關係將尤為重要，我稍後會詳細討論。

Despite more budget scrutiny in enterprises, our win rates remain strong. We continue to see an increase in multiyear commitments year-over-year. In Q1, we made great progress on improving our non-GAAP operating margins. We expect to build on this momentum and drive significant improvement in non-GAAP operating margin this year as we focus on operational efficiency and growth, which Tim will talk about more.

儘管企業進行了更多的預算審查，但我們的贏單率仍然很高。我們繼續看到多年期承諾逐年增加。第一季度，我們在提高非 GAAP 營業利潤率方面取得了很大進展。由於我們專注於運營效率和增長，我們預計今年將在此勢頭的基礎上推動非 GAAP 營業利潤率的顯著改善，Tim 將對此進行更多討論。

It's been a good start to the year, and we continue to focus on our enterprise playbook, improving sales productivity and bringing on enterprise leadership.

這是今年的一個良好開端，我們繼續專注於我們的企業劇本，提高銷售效率並培養企業領導力。

I know that artificial intelligence is top of mind for everyone, so let me start with that topic.

我知道人工智能是每個人的頭等大事，所以讓我從這個話題開始。

I've been personally passionate about the short and long-term opportunities as well as the complex implications to society. In fact, through the foundation that was started by my wife and I, we've been studying the risks and opportunities around advanced AI for years. Furthermore, some of the top AI companies are Asana customers and partners, so as you can imagine, my interest level and involvement is both deep and broad.

我個人一直對短期和長期機會以及對社會的複雜影響充滿熱情。事實上，通過我和我妻子創立的基金會，我們多年來一直在研究圍繞高級人工智能的風險和機遇。此外，一些頂級人工智能公司是 Asana 的客戶和合作夥伴，所以你可以想像，我的興趣水平和參與程度既深又廣。

At Asana, we've been laying our AI foundation and building blocks for the past 15 years, recently powering some of our features with machine learning. The more recent and rapid developments in AI play into Asana's core strengths. AI can now significantly accelerate our ability to achieve our mission of helping humanity thrive by enabling the world's teams to work together effortlessly. The large language models fit even better into our vision than I imagined, and the evolving dynamics around AI highlight the benefits of the Asana Work Graph. We're moving quickly to realize the possibilities.

在 Asana，我們在過去 15 年中一直在奠定我們的 AI 基礎和構建塊，最近通過機器學習為我們的一些功能提供動力。人工智能最近和快速的發展發揮了 Asana 的核心優勢。人工智能現在可以通過讓世界各地的團隊毫不費力地協同工作，顯著加快我們實現幫助人類繁榮發展的使命的能力。大型語言模型比我想像的更符合我們的願景，圍繞 AI 的不斷發展的動態突出了 Asana Work Graph 的好處。我們正在迅速行動以實現各種可能性。

With the Asana Work Graph, we already have the most complete picture of work in organizations, giving us the ability to help our customers drive business outcomes. The Work Graph is also the underlying technology that makes it easy for us to facilitate human to AI collaboration. This means AI can join our customers' teams with confidence that Asana will keep data secure and available.

借助 Asana Work Graph，我們已經對組織中的工作有了最完整的了解，使我們能夠幫助我們的客戶推動業務成果。 Work Graph 也是使我們能夠輕鬆促進人與 AI 協作的基礎技術。這意味著 AI 可以加入我們客戶的團隊，相信 Asana 將確保數據安全和可用。

Quality of data is essential. Our data model provides a single source of truth and connects all of the units of work to higher-level portfolios and goals. These connections are especially important to ensure the accuracy and usefulness of Asana AI recommendations. It helps AI understand organizations so that recommendations are clear, actionable and continuous, while the structured nature of the Work Graph enables teams to ensure the reliability, accuracy and traceability of generative output.

數據質量至關重要。我們的數據模型提供單一事實來源，並將所有工作單元連接到更高級別的投資組合和目標。這些聯繫對於確保 Asana AI 建議的準確性和實用性尤為重要。它幫助 AI 理解組織，從而提供清晰、可操作和連續的建議，而 Work Graph 的結構化特性使團隊能夠確保生成輸出的可靠性、準確性和可追溯性。

Customers are eager to use AI to make better decisions and maximize impact. Asana is adopting the best of AI capabilities for them so that it's easy to start making use of these exciting new technologies with the security, data and privacy they expect. In other words, we, Asana, can become our customers' AI strategy.

客戶渴望使用 AI 做出更好的決策並最大化影響。 Asana 正在為他們採用最好的 AI 功能，以便他們可以輕鬆開始使用這些令人興奮的新技術，並獲得他們期望的安全性、數據和隱私。換句話說，我們 Asana 可以成為我們客戶的 AI 戰略。

Starting today, I'm pleased to formally announce Asana Intelligence. With Asana Intelligence, AI has officially joined your organization to help you work together more effectively and efficiently. In fact, many of our AI capabilities are already in the hands of our customers. These include machine-learning powered productivity enhancers such as priority inbox and priority tasks, designed to help you discover and focus your attention on the most relevant work, including what's high priority or blocking. To further support team efficiency, Asana now surfaces a personalized list of recommended projects for you to join. We also shipped smart rule suggestions where Asana suggests rules to automate and save time on repeat actions. Admins have the ability to enable or disable these capabilities from the Admin Console in Asana, based on organizational preferences.

從今天開始，我很高興正式宣布 Asana Intelligence。借助 Asana Intelligence，AI 已正式加入您的組織，幫助您更有效地協同工作。事實上，我們的許多人工智能能力已經掌握在客戶手中。其中包括機器學習驅動的生產力增強器，例如優先收件箱和優先任務，旨在幫助您發現最相關的工作並將注意力集中在最相關的工作上，包括高優先級或阻塞的工作。為了進一步提高團隊效率，Asana 現在會顯示一個個性化的推薦項目列表供您加入。我們還提供了智能規則建議，其中 Asana 建議規則以自動執行並節省重複操作的時間。管理員可以根據組織偏好從 Asana 的管理控制台啟用或禁用這些功能。

In addition to what we've already shipped, we also have new large-language model features in closed beta powered by OpenAI. With the Work Graph and large language models now supercharging each other, we can move even faster and offer an even deeper level of functionality. Asana was built for this moment.

除了我們已經發布的內容之外，我們還在封閉測試版中提供了由 OpenAI 提供支持的新的大型語言模型功能。隨著 Work Graph 和大型語言模型現在相互增強，我們可以更快地移動並提供更深層次的功能。體式是為這一刻而建立的。

Our vision is for Asana Intelligence to give people automatic recommendations that help them identify risks, make the right decisions faster and more often, and drive business outcomes such as goals-based resource management. The first step, health check, is currently in beta and makes it much faster to assemble a project status update. With the click of a button, Asana AI automatically writes your first draft, highlighting progress, risks and ways for you to improve towards hitting your goals, and even surfacing information that you might have otherwise missed. Again, the key input is the Work Graph and how it connects units of work, information about that work and the people responsible.

我們的願景是讓 Asana Intelligence 為人們提供自動建議，幫助他們識別風險、更快、更頻繁地做出正確決策，並推動業務成果，例如基於目標的資源管理。第一步，健康檢查，目前處於測試階段，可以更快地組裝項目狀態更新。只需單擊一個按鈕，Asana AI 就會自動編寫您的初稿，突出顯示您在實現目標方面取得的進展、風險和改進方法，甚至還會顯示您可能錯過的信息。同樣，關鍵輸入是工作圖以及它如何連接工作單元、有關該工作的信息和負責人。

Next, we're focusing on helping teams improve productivity and achieve more together. Our vision is to build self-optimized workflows where Asana will give you an automated plan based on the goal you're trying to achieve, all tailored to your relevant function or industry. Today, we offer in beta instant summaries that transcribe and summarize action items from meetings, tasks and common threads, multi-home suggestions that add valuable structure, plus a writing assistant to help you compose more compelling, simplified and clear responses.

接下來，我們將專注於幫助團隊提高生產力並共同取得更大成就。我們的願景是建立自我優化的工作流程，Asana 將根據您要實現的目標為您提供自動化計劃，所有這些都是根據您的相關職能或行業量身定制的。今天，我們提供 beta 版即時摘要，可以轉錄和總結會議、任務和公共線程中的行動項目，添加有價值的結構的多家庭建議，以及幫助您撰寫更有說服力、更簡單和更清晰的回复的寫作助手。

Many of you are already familiar with how ChatGPT answers questions and assists with tasks. Similarly, one of Asana's intelligent solutions, powered by OpenAI, helped us create, ask Asana anything, also in beta, which lets you ask questions like, "Where are the blockers in this project?" and get instant answers. Work organizer, also in beta, let you start work faster by auto-generating custom fields so you can easily bring structure to unstructured projects and report on the status of work. Again, it's the structure of the Work Graph that allows us to seamlessly integrate AI into customer workflows, so its recommendations are in service of your goals, include important context and have real benefits rather than merely delivering an assistant on the side.

你們中的許多人已經熟悉 ChatGPT 如何回答問題和協助完成任務。同樣，由 OpenAI 提供支持的 Asana 智能解決方案之一幫助我們創建並向 Asana 提出任何問題，也在測試版中，它可以讓您提出諸如“這個項目中的障礙在哪裡？”之類的問題。並獲得即時答案。工作組織者，也處於測試階段，通過自動生成自定義字段讓您更快地開始工作，這樣您就可以輕鬆地將結構引入非結構化項目並報告工作狀態。同樣，正是 Work Graph 的結構使我們能夠將 AI 無縫集成到客戶工作流程中，因此它的建議服務於您的目標，包括重要的上下文並具有真正的好處，而不僅僅是在旁邊提供助手。

We'll continue to use AI and to serve our customers more effectively by helping them achieve their goals and deliver on their missions faster with the choice and control over how and when AI is used. The VP of Technology Operations from Benevity said, and I quote, "I'm incredibly excited about our participation in the Asana Intelligence beta and the possibilities it will unlock for our teams at Benevity. These capabilities will enable us to work more efficiently than ever, allowing us to better fulfill our mission of powering purpose-driven business." We'll share more about Asana's AI products and vision in the coming months, including at the Investor Day on October 3, as part of our Fall customer event in New York City.

我們將繼續使用 AI 並通過選擇和控制 AI 的使用方式和時間來幫助他們實現目標並更快地完成任務，從而更有效地為客戶提供服務。 Benevity 的技術運營副總裁說，我引用，“我對我們參與 Asana Intelligence beta 以及它將為我們在 Benevity 的團隊解鎖的可能性感到非常興奮。這些能力將使我們能夠比以往任何時候都更有效率地工作，使我們能夠更好地履行我們的使命，為以目標為導向的業務提供動力。”我們將在未來幾個月分享更多關於 Asana 的人工智能產品和願景，包括在 10 月 3 日的投資者日，作為我們在紐約市舉行的秋季客戶活動的一部分。

In the short and long run, we're committed to AI safety and transparency, both in practice and within our product, and to giving our customers choice and control over how and when AI is used in Asana. At Asana, we don't just see a future powered by AI. We see a future where AI and human ingenuity combine to radically improve the lives of individuals and how teams work together, unleashing the full potential to every business and organization. That's the future we're building together. One feature, one team and one step at a time.

從短期和長期來看，我們致力於在實踐中和在我們的產品中實現 AI 安全性和透明度，並讓我們的客戶選擇和控制如何以及何時在 Asana 中使用 AI。在 Asana，我們不僅僅看到由 AI 驅動的未來。我們看到一個未來，人工智能和人類的聰明才智相結合，可以從根本上改善個人的生活以及團隊合作的方式，從而釋放每個企業和組織的全部潛力。這就是我們共同建設的未來。一項功能，一個團隊，一步一個腳印。

Now, I'll turn it over to Anne.

現在，我將把它交給安妮。

Thanks, Dustin.

謝謝，達斯汀。

AI is impacting knowledge work first, and our customers are turning to us to help make AI a reality for them. Our AI road map is quickly becoming a top request for executive briefings and customer meetings, and our intent is for our customers to leverage Asana AI capabilities to achieve their goals and objectives more efficiently and faster than ever before.

人工智能首先影響知識工作，我們的客戶正在求助於我們幫助他們實現人工智能。我們的 AI 路線圖正迅速成為執行簡報和客戶會議的首要要求，我們的目的是讓我們的客戶利用 Asana AI 功能比以往任何時候都更高效、更快地實現他們的目標。

We're also already using AI to increase our own efficiency at Asana, both within our own product and by using complementary tools. For our paid ad campaigns, we've been using AI voices to generate international voice overs. This library of voices takes one script and scales it into multiple languages and markets in a few days. Historically, this process would have taken weeks. This change has accelerated our go-to-market timelines and reduced our creative production budget significantly.

我們也已經在使用 AI 來提高我們在 Asana 的效率，既包括我們自己的產品，也包括使用互補工具。對於我們的付費廣告活動，我們一直在使用 AI 語音來生成國際配音。這個語音庫採用一個腳本並在幾天內將其擴展到多種語言和市場。從歷史上看，這個過程需要數週時間。這一變化加快了我們的上市時間，並顯著降低了我們的創意製作預算。

We're also using AI to serve our global customers more quickly. Customer Support can now send automated replies to customers in supported languages, meaning that what used to take about 48 hours can now be addressed in an instant. Our translation cost is now a fraction of what it was, and we have more AI initiatives ahead to help assist our customers better and faster and make our teams even more effective.

我們還使用 AI 更快地為我們的全球客戶提供服務。客戶支持現在可以使用支持的語言向客戶發送自動回复，這意味著過去需要大約 48 小時才能解決的問題現在可以立即得到解決。我們的翻譯成本現在只是以前的一小部分，而且我們有更多的人工智能計劃來幫助更好更快地幫助我們的客戶，並使我們的團隊更加高效。

Turning to our business. The macro headwinds continued to impact our expansions and created longer sales cycles in Q1. We expect to see similarities throughout fiscal year 2024. The good news is that pockets of the market have stabilized. For example, top of funnel demand in our free-to-paid conversion rate remained steady in the first quarter. Engagement with our product remains high, and we continue to focus on outbounding to build and strengthen our enterprise capabilities. We're making good progress with more work to do.

談到我們的業務。宏觀逆風繼續影響我們的擴張，並在第一季度創造了更長的銷售週期。我們預計整個 2024 財年都會出現類似情況。好消息是部分市場已經穩定下來。例如，第一季度我們免費到付費轉化率的漏斗需求頂部保持穩定。對我們產品的參與度仍然很高，我們繼續專注於出站以建立和加強我們的企業能力。我們正在取得良好進展，還有更多工作要做。

Collaborative work management is at an inflection point. Customers are viewing Asana as a platform and a system of record for all of their work, and the purchasing decisions have moved up the chain. CIOs and CEOs are telling us they need Asana for cross-functional use cases, not just marketing or ops or HR, but for connecting systems of work across their entire organization. Our ability to scale makes Asana top of mind for the strategic procurement committees, and our 200,000 seat deployment is a great proof point for that. Our Goals product continues to be strategically differentiated, and is reaching new levels of traction within the buying committee, and the addition of AI can take this functionality to the next level.

協同工作管理正處於一個轉折點。客戶將 Asana 視為一個平台和一個記錄他們所有工作的系統，並且購買決策已經向上移動。 CIO 和 CEO 告訴我們，他們需要 Asana 來處理跨職能用例，而不僅僅是營銷、運營或人力資源，還需要連接整個組織的工作系統。我們的擴展能力使 Asana 成為戰略採購委員會的首要考慮因素，我們 200,000 個席位的部署就是一個很好的證明。我們的目標產品在戰略上繼續保持差異化，並在採購委員會中達到新的牽引力水平，而人工智能的加入可以將這一功能提升到一個新的水平。

Our enterprise customers, which we define as organizations with over 2,000 employees, continue to be our fastest-growing customer segment and this segment is further diversifying. 70% of our top 20 Q1 deals were in non-tech sectors. Customers are anchoring on long-term investments, and we are involved in many multiyear deals and consolidation conversations. We're also seeing some 7-figure opportunities emerge as various industries accelerate their efforts in digital transformation, which may now be further accelerated with AI.

我們的企業客戶（我們定義為擁有 2,000 多名員工的組織）仍然是我們增長最快的客戶群，並且這一細分市場正在進一步多元化。在我們排名前 20 的第一季度交易中，有 70% 發生在非科技行業。客戶專注於長期投資，而我們參與了許多多年期交易和整合對話。隨著各行各業加速數字化轉型，我們也看到一些 7 位數的機會出現，現在人工智能可能會進一步加速數字化轉型。

Forbes, the global media, branding and technology company that reaches over 140 million people worldwide each month across all of its platforms, is digitizing legacy operations across their marketing, video, social and HR teams with Asana. In the last quarter, Asana expanded to their Editorial Newsroom, where the team will now manage the cross-team end-to-end workflows responsible for all content that appears on forbes.com and in print. They've also upgraded to our Enterprise Solution this quarter, moving away from manual operations and towards automation that makes it easier to scale.

福布斯是一家全球媒體、品牌和技術公司，每月通過其所有平台在全球範圍內覆蓋超過 1.4 億人，該公司正在通過 Asana 將其營銷、視頻、社交和人力資源團隊的傳統業務數字化。在上個季度，Asana 擴展到他們的編輯新聞室，該團隊現在將管理跨團隊的端到端工作流程，負責所有出現在 forbes.com 和印刷品上的內容。他們還在本季度升級到我們的企業解決方案，從手動操作轉向自動化，從而更容易擴展。

Maersk, a global logistics leader operating in more than 130 countries, has expanded their partnership with Asana, trusting Asana to help lead their digital transformation. They've standardized their warehouse and distribution implementation process, which gets customers onboarded and set up in Maersk warehouses around the world to handle their products. Asana is used to coordinate and manage work across more than 7 cross-functional teams and provides robust reporting into key data points such as project status, delivery timelines and critical pathing. As a result, Maersk is targeting to reduce their onboarding timelines and increase on-time launch rate while reducing the service cost.

Maersk 是一家在 130 多個國家開展業務的全球物流領導者，它擴大了與 Asana 的合作夥伴關係，相信 Asana 可以幫助引領他們的數字化轉型。他們已經標準化了他們的倉庫和配送實施流程，讓客戶加入並在世界各地的馬士基倉庫中設置來處理他們的產品。 Asana 用於協調和管理超過 7 個跨職能團隊的工作，並為項目狀態、交付時間表和關鍵路徑等關鍵數據點提供可靠的報告。因此，馬士基的目標是縮短入船時間並提高準時啟動率，同時降低服務成本。

And we are seeing expansions broadly across several diverse industries as we continue to expand beyond our leadership in the tech industry.

隨著我們繼續超越我們在科技行業的領導地位，我們看到多個不同行業的廣泛擴張。

New Balance, a leading sporting goods manufacturing company, is a new customer this quarter. In an effort to consolidate the technology used by their global marketing teams, Asana was selected as the strategic platform they'll use to build best-in-class operations as part of their digital transformation to modernize their tech stack at New Balance. Managing over 400 assets per day, the team needed a centralized tool to eliminate collaboration gaps. Asana's flexibility and customization helped the team create standard operating processes that increase adoption and scale across their global team. Lastly, Asana will give everyone more visibility into OKRs and the status of strategic initiatives, something they didn't have before.

New Balance 是一家領先的體育用品製造公司，它是本季度的新客戶。為了整合其全球營銷團隊使用的技術，Asana 被選為戰略平台，他們將使用該平台來構建一流的運營，作為其數字化轉型的一部分，以實現 New Balance 技術堆棧的現代化。該團隊每天管理 400 多項資產，需要一個集中式工具來消除協作差距。 Asana 的靈活性和定制化幫助團隊創建了標準操作流程，提高了其全球團隊的採用率和規模。最後，Asana 將使每個人更清楚地了解 OKR 和戰略計劃的狀態，這是他們以前沒有的。

Navan, the all-in-one travel, corporate card, and expense management super app, recently signed a net new 500-seat deal with Asana. They'll be rolling Asana out across their marketing, customer service, operations, product, engineering and HR teams as they consolidate their technology investments and look to scale the adoption of work management to eliminate silos and facilitate better cross-functional partnerships.

集旅行、公司卡和費用管理於一體的超級應用程序 Navan 最近與 Asana 簽署了一項全新的 500 個席位協議。他們將在他們的營銷、客戶服務、運營、產品、工程和人力資源團隊中推廣 Asana，因為他們鞏固了他們的技術投資，並希望擴大工作管理的採用範圍，以消除孤島並促進更好的跨職能合作夥伴關係。

As tech organizations continue to choose Asana over competitors, it's clear that Asana is the only choice for enterprises.

隨著技術組織繼續選擇 Asana 而不是競爭對手，很明顯 Asana 是企業的唯一選擇。

We're seeing continued success in the financial services industry and the health care and biotech verticals as well. A hospital and health care customer expanded their use of Asana by another 1,000 employees in Q1 and is now a $1 million ARR customer. They started using Asana to onboard new physician providers and have seen extensive value from automating previously manual processes and reducing inaccuracies by consolidating information in a central, organized place. The company will now expand their Asana usage to manage talent acquisition and community and event management. This digital transformation is a crucial step for scaling, which we're seeing more and more with Asana's growth within the health care industry.

我們看到金融服務行業以及醫療保健和生物技術垂直領域持續取得成功。一家醫院和醫療保健客戶在第一季度又增加了 1,000 名員工使用 Asana，現在是價值 100 萬美元的 ARR 客戶。他們開始使用 Asana 來招募新的醫生提供者，並從自動化以前的手動流程和通過將信息整合到一個有組織的中央位置來減少不准確性中看到了廣泛的價值。該公司現在將擴大 Asana 的使用範圍，以管理人才招聘以及社區和活動管理。這種數字化轉型是擴展的關鍵一步，隨著 Asana 在醫療保健行業的發展，我們越來越多地看到這一點。

As you can see, we've already helped to digitally transform dozens of our largest customers. We believe digital transformation will pale as an opportunity for Asana in comparison to intelligence transformation, and we're preparing to be the leading platform for change in this new revolution of technology.

如您所見，我們已經幫助數十家最大的客戶實現了數字化轉型。我們相信，與智能轉型相比，數字轉型對 Asana 來說是一個機會，我們正準備成為這場新的技術革命的領先平台。

In summary, we're seeing more multiyear deals, winning on vendor consolidation decisions and continuing to diversify our enterprise success across more and more industries.

總而言之，我們看到了更多的多年期交易，贏得了供應商整合決策，並繼續使我們的企業成功跨越越來越多的行業。

My continued focus for the year is to better serve our enterprise and strategic customers. These customers are looking for long-term partnerships that can grow and scale with them. You can see our efforts from the growth of these accounts. Our strategic accounts as a cohort grew over 50% year-over-year. We are partnering with them on our product road map and pricing and packaging. We are beta testing some strategic pricing and package updates with select customers that will help Asana usage accelerate across their organizations.

我今年繼續關注的是更好地服務於我們的企業和戰略客戶。這些客戶正在尋找可以與他們一起成長和擴展的長期合作夥伴關係。您可以從這些帳戶的增長中看到我們的努力。我們的戰略客戶作為一個群體同比增長超過 50%。我們正在與他們合作制定我們的產品路線圖以及定價和包裝。我們正在與選定的客戶一起對一些戰略定價和軟件包更新進行 Beta 測試，這將有助於加速 Asana 在整個組織中的使用。

Over the quarter, we've added great new leaders with Enterprise experience from DocuSign, Cisco and Salesforce, who have many initiatives in place to accelerate our upmarket growth. We'll continue to improve our sales enablement capabilities and lead generation initiatives targeted at enterprise accounts. We're creating a repeatable playbook to scale enterprise accounts to become $100,000-plus customers. and we're improving on our customer success strategy to scalably serve more customers.

在本季度，我們增加了來自 DocuSign、Cisco 和 Salesforce 的具有企業經驗的優秀新領導者，他們制定了許多計劃來加速我們的高端市場增長。我們將繼續改進我們的銷售支持能力和針對企業客戶的潛在客戶生成計劃。我們正在創建一個可重複的劇本來將企業賬戶擴展為 100,000 美元以上的客戶。我們正在改進我們的客戶成功戰略，以可擴展地為更多客戶提供服務。

And with that, I'll hand it over to Tim.

有了這個，我會把它交給蒂姆。

Thank you, Anne.

謝謝你，安妮。

Q1 revenues came in at $152.4 million, up 26% year-over-year. Revenue from the U.S. grew 31% year-over-year, accounting for 61% of our total revenue. International grew 20% year-over-year, accounting for 39% of our revenue. Revenue from customers spending $5,000 or more on an annualized basis grew 32% year-over-year. This cohort represented 73% of our revenues in Q1, up from 70% in the year ago quarter. We have 19,864 customers spending $5,000 or more on an annualized basis. Our largest customers remain our fastest-growing cohort. We have 510 customers spending $100,000 or more on an annualized basis, and this customer cohort grew at 31% year-over-year.

第一季度收入為 1.524 億美元，同比增長 26%。來自美國的收入同比增長 31%，占我們總收入的 61%。國際業務同比增長 20%，占我們收入的 39%。年化支出 5,000 美元或以上的客戶帶來的收入同比增長 32%。這一群體占我們第一季度收入的 73%，高於去年同期的 70%。我們有 19,864 名客戶每年花費 5,000 美元或更多。我們最大的客戶仍然是我們增長最快的群體。我們有 510 名客戶每年花費 100,000 美元或更多，這個客戶群體同比增長 31%。

As a reminder, we define these customer cohort based on annualized GAAP revenues in a given quarter.

提醒一下，我們根據給定季度的年化 GAAP 收入來定義這些客戶群體。

Our dollar-based net retention rates were lower, driven by lower expansion and downgrades, but remained healthy across every cohort. Our overall dollar-based net retention rate was over 110%. Among customers spending $5,000 or more, our dollar-based net retention rate was over 115%. And among customers spending $100,000 or more, our dollar-based net-retention-rate was over 130%.

我們基於美元的淨保留率較低，這是由於較低的擴張和降級推動的，但在每個隊列中都保持健康。我們以美元為基礎的整體淨保留率超過 110%。在花費 5,000 美元或更多的客戶中，我們基於美元的淨保留率超過 115%。在花費 100,000 美元或更多的客戶中，我們基於美元的淨保留率超過 130%。

As a reminder, our dollar-based net-retention-rate is a trailing 4-quarter average calculation.

提醒一下，我們以美元為基礎的淨保留率是過去 4 個季度的平均計算結果。

We continue to see stable logo churn rates overall and low churn in our largest accounts, demonstrating the value we deliver for our enterprise customers. Companies remain mindful of the near-term economic challenges, and we expect our overall dollar-based net retention rates to trend lower, particularly in the lower end of the market.

我們繼續看到總體徽標流失率穩定，而我們最大的客戶流失率較低，這證明了我們為企業客戶提供的價值。公司仍然關注近期的經濟挑戰，我們預計我們以美元為基礎的整體淨保留率將呈下降趨勢，尤其是在低端市場。

As I turn to expense items and profitability, I would like to point out that I will be discussing non-GAAP results in the balance of my remarks. Keep in mind, non-GAAP results exclude stock-based compensation and onetime costs related to restructuring.

在談到費用項目和盈利能力時，我想指出，我將在餘下的發言中討論非 GAAP 業績。請記住，非 GAAP 結果不包括基於股票的薪酬和與重組相關的一次性成本。

Gross margins came in at 90.5%. Research and development was $51.8 million or 34% of revenue. Sales and marketing was $81.5 million or 53% of revenue, an improvement from 69% a year ago. G&A was $26.9 million or 18% of revenue, and an improvement from 31% a year ago. Operating loss was $22.3 million, and our operating loss margin was 15%, representing a 30 percentage point margin improvement versus a year ago. The improvement in our operating margin demonstrates our ability to drive more efficient growth and manage our operating expenses with increased discipline. Net loss was $18.5 million and our net loss per share was $0.09.

毛利率為 90.5%。研發費用為 5180 萬美元，佔收入的 34%。銷售和營銷為 8150 萬美元，佔收入的 53%，比一年前的 69% 有所提高。 G&A 為 2690 萬美元，佔收入的 18%，比一年前的 31% 有所提高。營業虧損為 2230 萬美元，營業虧損率為 15%，與一年前相比利潤率提高了 30 個百分點。我們營業利潤率的提高表明我們有能力推動更有效的增長並通過加強紀律來管理我們的運營費用。淨虧損為 1850 萬美元，每股淨虧損為 0.09 美元。

Moving on to the balance sheet and cash flow. Cash and marketable securities at the end of Q1 were approximately $523.5 million. Our Remaining Performance Obligations, or RPO, was $332.1 million, up 33% from the year ago quarter. 86% of RPO will be recognized over the next 12 months. That current portion of RPO grew 30% from the year-ago quarter. Our total ending Q1 deferred revenue was $263.9 million, up 31% year-over-year. Our free cash flow is defined as net cash from operating activities, less cash used in property and equipment and capitalized software costs, excluding nonrecurring items such as costs related to restructuring. Q1 free cash flow was negative $16.6 million or negative 11% on a margin basis, an improvement from negative 35% from the year-ago quarter.

轉到資產負債表和現金流量。第一季度末的現金和有價證券約為 5.235 億美元。我們的剩餘履約義務 (RPO) 為 3.321 億美元，比去年同期增長 33%。 86% 的 RPO 將在未來 12 個月內得到確認。 RPO 的當前部分比去年同期增長了 30%。我們在第一季度末的遞延收入總額為 2.639 億美元，同比增長 31%。我們的自由現金流定義為經營活動產生的淨現金減去財產和設備使用的現金以及資本化的軟件成本，不包括重組相關成本等非經常性項目。第一季度自由現金流為負 1660 萬美元或按利潤率為負 11%，較去年同期的負 35% 有所改善。

Moving to guidance for Q2 fiscal 2024. We expect revenues of $157.5 million to $158.5 million, representing growth rates of 17% year-over-year. We expect non-GAAP loss from operations of $26 million to $24 million, representing an operating margin of negative 16% at the midpoint of guidance, a measurable improvement from the same year-ago period. And we expect net loss per share of $0.12 to $0.11, assuming basic and diluted weighted average shares outstanding of approximately 218 million.

轉向 2024 財年第二季度的指導。我們預計收入為 1.575 億美元至 1.585 億美元，同比增長率為 17%。我們預計非 GAAP 運營虧損為 2600 萬美元至 2400 萬美元，相當於指導中點的負 16% 的運營利潤率，與去年同期相比有可觀的改善。我們預計每股淨虧損為 0.12 美元至 0.11 美元，假設基本和稀釋加權平均流通股約為 2.18 億股。

For the full fiscal 2024, we expect revenues to be in the range of $640 million to $648 million, representing a growth rate of 17% to 18% year-over-year. We expect non-GAAP loss from operations of $120 million to $110 million, representing an operating margin of negative 18% at the midpoint of guidance, down from negative 38% in fiscal year 2023. And we expect net loss per share of $0.55 to $0.50, assuming basic and diluted weighted average shares outstanding of approximately 219 million.

對於整個 2024 財年，我們預計收入將在 6.4 億美元至 6.48 億美元之間，同比增長率為 17% 至 18%。我們預計非 GAAP 運營虧損為 1.2 億美元至 1.1 億美元，相當於指導中點的負 18% 營業利潤率，低於 2023 財年的負 38%。我們預計每股淨虧損為 0.55 美元至 0.50 美元，假設基本和稀釋後的加權平均流通股數約為 2.19 億股。

Our guidance assumes that macroeconomic continues to create headwinds in fiscal year 2024. We are committed to maintaining a disciplined and balanced approach to optimizing costs and improving efficiency and profitability. We will continue to invest in future growth opportunities like AI, which we expect will drive long-term value. We remain committed to reaching positive free cash flow before the end of calendar 2024 and have increased confidence in our ability to drive meaningful improvements in the coming year.

我們的指引假設宏觀經濟在 2024 財年繼續造成逆風。我們致力於保持一種有紀律和平衡的方法來優化成本並提高效率和盈利能力。我們將繼續投資於人工智能等未來增長機會，我們預計這將推動長期價值。我們仍然致力於在 2024 日曆年底之前實現正的自由現金流，並對我們在來年推動有意義的改進的能力更有信心。

With that, I'll hand the call back to Dustin for some final remarks.

有了這個，我會把電話轉回給達斯汀，讓他做最後的評論。

I'm very excited about the product development we have in flight. Customers are eager to adopt AI to help them work more effectively and efficiently, and Asana will adopt the best of AI capabilities for them. Intelligence transformation is the second wave of digital transformation, and this time, it's a tsunami. The work management market is an enormous underpenetrated market that I believe we're well positioned to lead, especially given our underlying connected architecture. We have adequate investment and plenty of runway to do what we need to do. Asana with the power of AI can introduce our product to more users, address more use cases and create more value for our customers.

我對我們正在進行的產品開發感到非常興奮。客戶渴望採用 AI 來幫助他們更高效地工作，而 Asana 將為他們採用最好的 AI 功能。智能化轉型是數字化轉型的第二波浪潮，而這一次，是一場海嘯。工作管理市場是一個巨大的未滲透市場，我相信我們處於領先地位，特別是考慮到我們的底層連接架構。我們有足夠的投資和足夠的跑道來做我們需要做的事情。借助 AI 的力量，Asana 可以將我們的產品介紹給更多用戶，解決更多用例並為我們的客戶創造更多價值。

And with that, I'll turn it back to the operator for questions.

有了這個，我會把它轉回給接線員提問。

(Operator Instructions)

（操作員說明）

The first question will be from the line of Andrew DeGasperi with Berenberg.

第一個問題來自 Andrew DeGasperi 與 Berenberg 的對話。

I guess first, Dustin, in terms of the AI potential, I know that you've been working on it with Work Graph for a while. But I'm just wondering in terms of the change in customer behavior that could occur as they adopt more AI tools, are you in any way concerned that certain end markets could be impacted -- impacting Asana in terms of seat count, again, from a long-term perspective?

我想首先，達斯汀，就人工智能的潛力而言，我知道你已經使用 Work Graph 研究了一段時間。但我只是想知道，隨著客戶採用更多人工智能工具，客戶行為可能會發生變化，你是否以任何方式擔心某些終端市場可能會受到影響——再次影響 Asana 的席位數量，從長遠的眼光？

Andrew, this is Dustin.

安德魯，這是達斯汀。

Just so I understand, you mean like because of like job replacement? Or what are you getting at here?

就這樣我明白了，你的意思是因為喜歡更換工作？或者你在這裡得到什麼？

Yes. Yes, more -- let's say, some end markets like high tech or things like that could give some disruption in the employment trends and things like that.

是的。是的，更多——比方說，一些終端市場，如高科技或類似的東西，可能會對就業趨勢和類似的東西造成一些干擾。

I think a lot is happening with AI, and I think sort of change is inevitable. It's hard to predict exactly how that change is going to play out. Certainly, in the next few years, I would not place a bet on there being fewer knowledge workers in tech companies. I think the flip side of that argument is that each of them are going to become a lot more leveraged, in fact, using things like Asana Intelligence inside Asana is part of how they become more leveraged, so it's actually going to be even more valuable to have people working inside those organizations.

我認為人工智能正在發生很多變化，我認為某種變化是不可避免的。很難準確預測這種變化將如何發揮作用。當然，在接下來的幾年裡，我不會打賭科技公司的知識工作者會越來越少。我認為這個論點的另一面是他們每個人都會變得更有槓桿作用，事實上，在 Asana 內部使用像 Asana Intelligence 這樣的東西是他們變得更有槓桿作用的一部分，所以它實際上會更有價值讓人們在這些組織內部工作。

Longer run, things could change, but I feel confident that we could adjust our pricing model to meet that change because really, our pricing is about the value that we're delivering to customers. And so if the value we're delivering to customers is actually helping them scale their workforces further, get more from the same number of people, then that means we're providing more value and should be able to monetize more of it. Maybe that will mean that we need to have very different pricing per seat or maybe we'll have consumption-based pricing, but I'm not concerned that it means that our business shrinks.

從長遠來看，情況可能會發生變化，但我相信我們可以調整我們的定價模型來應對這種變化，因為實際上，我們的定價與我們為客戶提供的價值有關。因此，如果我們為客戶提供的價值實際上正在幫助他們進一步擴大勞動力規模，從相同數量的人那裡獲得更多，那麼這意味著我們正在提供更多價值，並且應該能夠將更多價值貨幣化。也許這意味著我們需要為每個座位制定非常不同的定價，或者我們可能會採用基於消費的定價，但我並不擔心這意味著我們的業務會萎縮。

That's helpful.

這很有幫助。

And then maybe, Tim, in terms of the macro impact you mentioned, I guess in terms of your framework for the guidance, you mentioned headwinds. You expect them to continue. Do you think things get worse? I know you mentioned some pockets of the market are stabilizing. I guess, are you assuming a status quo going forward?

然後，蒂姆，就你提到的宏觀影響而言，我想就你的指導框架而言，你提到了逆風。你希望他們繼續。你認為事情會變得更糟嗎？我知道你提到過一些市場正在企穩。我想，你是否假設未來的現狀？

Yes. I mean I think it's a similar philosophy to kind of how we guided last quarter as well as the year. We just -- I don't see a lot of downside in the guidance, but I think it's still too early to bake in any upside at this point. I think it's a little bit of touch and go, and we'll monitor the situation as we go. But like I said, we feel good about the guidance. We feel good about the bottom line. We feel good about getting -- delivering on the free cash flow timeline that we committed to.

是的。我的意思是，我認為這與我們上個季度和今年的指導方式類似。我們只是 - 我沒有看到指導中有太多不利因素，但我認為現在就任何有利因素進行烘烤還為時過早。我認為這有點碰碰運氣，我們會在進行過程中監控情況。但正如我所說，我們對指導感覺良好。我們對底線感覺良好。我們對實現我們承諾的自由現金流時間表感到滿意。

(Operator Instructions) The next question will be from Brent Thill with Jefferies.

（操作員說明）下一個問題將來自 Jefferies 的 Brent Thill。

This is John (inaudible) on for Brent Thill.

我是 John（聽不清）代表 Brent Thill。

Just one more question on the macro. I mean, you meant that there were areas where things stabilized. Just wondering if you could maybe digging a little bit more there? And any color by geo or vertical?

還有一個關於宏觀的問題。我的意思是，你的意思是有些地方情況穩定了。只是想知道你是否可以在那裡多挖一點？地理或垂直的任何顏色？

And then second, on AI, if you could maybe touch on monetization, timing f when it could start to make a revenue impact?

其次，在 AI 方面，如果你可以談談貨幣化，它何時開始對收入產生影響？

You want to take the first part?

你想參加第一部分嗎？

So in terms of like what we've seen just from a stabilization standpoint, what I would say is it really depends on the segment. I think some of the names that Anne mentioned and that we mentioned on the script, those are great names. And some of -- many of those are not in tech.

因此，就我們從穩定的角度所看到的而言，我想說的是，這實際上取決於細分市場。我認為安妮提到的一些名字以及我們在劇本中提到的一些名字，都是很棒的名字。其中一些 - 其中許多不在技術領域。

I think tech -- the segment in tech is still kind of working itself out, and I think we'll continue to see some pressure there. But kind of given the customer lands, the expansion that we saw, we feel really good about the traction that we're seeing in other pockets that's not tech related.

我認為科技 - 科技領域仍在努力解決問題，我認為我們將繼續在那裡看到一些壓力。但是考慮到客戶的土地，我們看到的擴張，我們對我們在其他與技術無關的口袋中看到的牽引力感到非常滿意。

I'll take the question about pricing, and I think the question is really like with the substantial revenue uplift.

我會回答關於定價的問題，我認為這個問題真的很像收入大幅增加。

So I think one way I think about this is that AI is not really one thing. It's really going to show up in a bunch of different ways in our product, because we're really weaving it into the very architecture of workflow and the Work Graph, so there are opportunities both to support adoption, and to drive seat growth, as well as incremental revenue growth in ASP. The stuff that helps adoption, a lot of it we'll probably give away because it's providing more valuable to customers and helping us really get the long-term revenue opportunity, so really be balancing that ASP and seat growth.

所以我認為我思考這個問題的一種方式是人工智能並不是真正的一回事。它真的會以多種不同的方式出現在我們的產品中，因為我們真的將它融入了工作流和工作圖的架構中，因此有機會支持採用和推動席位增長，因為以及 ASP 的增量收入增長。有助於採用的東西，其中很多我們可能會放棄，因為它為客戶提供了更多價值並幫助我們真正獲得長期收入機會，因此真正平衡了 ASP 和席位增長。

And then there are other things that are going to be part of our existing functionality in higher-priced tiers, for example, things that enhanced Goals will naturally be part of the business and enterprise tiers because that's where the Goals functionality lives. And then I do think at some point, we'll have functionality that becomes part of an add-on. Again, for the prior answer potentially with consumption-based pricing. We're actively thinking through a plan for that, but it will depend on where customers see a lot of value in practice as well as what ends up being expensive to provide.

然後還有其他一些東西將成為我們現有功能的一部分，在更高的價格層，例如，增強目標的東西自然會成為業務和企業層的一部分，因為那是目標功能所在的地方。然後我確實認為在某個時候，我們將擁有成為附加組件一部分的功能。同樣，對於可能使用基於消費的定價的先前答案。我們正在積極考慮為此制定一個計劃，但這將取決於客戶在實踐中看到很多價值的地方以及最終提供昂貴的東西。

So in terms of like timing, to your question, the thing that I think will happen first will kind of be incentivizing more customers to move into the up tiers in order to get that additional functionality.

因此，就時間而言，對於你的問題，我認為首先會發生的事情是激勵更多的客戶進入上層以獲得額外的功能。

Second, I'm hoping for a lot more seat growth because the adoption is going well with AI-powered features. And then probably third will be adding a SKU or adding an add-on to sort of directly package some of the AI stuff, and I think that's the order in which I think things will play out.

其次，我希望有更多的席位增長，因為人工智能功能的採用進展順利。然後第三個可能是添加一個 SKU 或添加一個附加組件來直接打包一些人工智能的東西，我認為這就是我認為事情會發生的順序。

But one thing for certain, there's been a lot of eagerness here, especially from our enterprise customers. So we've been really pleased with the response to the beta so far. You know that there is just massive potential here to drive the business because of how much value that we're able to provide on top of the Work Graph. But it's really upside to our model. We don't have any specific expectations that we've baked into the guidance.

但可以肯定的是，這裡有很多渴望，尤其是來自我們的企業客戶。因此，到目前為止，我們對測試版的反響非常滿意。你知道這裡有巨大的潛力來推動業務，因為我們能夠在 Work Graph 之上提供多少價值。但這確實對我們的模型有利。我們沒有將任何具體期望納入指南。

The next question is from the line of George Iwanyc with Oppenheimer.

下一個問題來自 George Iwanyc 與 Oppenheimer 的對話。

Anne, earlier in the year, you were targeting a 20% increase in sales productivity by the end of the year. Can you give us a sense of where you stand right now and how you feel about that target?

安妮，今年早些時候，你的目標是到年底將銷售效率提高 20%。你能告訴我們你現在的立場以及你對這個目標的看法嗎？

George, thanks so much for the question.

喬治，非常感謝你提出這個問題。

Yes, we've been really focused on building and scaling our enterprise selling infrastructure. So this quarter, something that I'm very pleased with is we've added strong leadership to our sales operations and enablement teams, and have been really focused on consistently delivering data tools and training to the field that is needed to repeatably and predictably land and expand in our larger accounts. The addition of strong enterprise sales leaders in our top priority markets in Japan, in DACH and UKI is also strengthening our operational rigor, so we're continuing to focus on that. But Q1 really was about investing in the right leadership and then making sure we're prioritizing the right things that will pay off throughout the year.

是的，我們一直專注於構建和擴展我們的企業銷售基礎設施。因此，本季度，我非常高興的是，我們為銷售運營和支持團隊增加了強大的領導力，並且真正專注於始終如一地向需要可重複和可預測著陸的領域提供數據工具和培訓並擴大我們的大客戶。在日本、DACH 和 UKI 等我們的首要市場中，強大的企業銷售領導者的加入也加強了我們的運營嚴謹性，因此我們將繼續專注於此。但第一季度確實是關於投資於正確的領導，然後確保我們優先考慮將在全年獲得回報的正確事情。

The next question is from the line of Steve Enders with Citi.

下一個問題來自花旗的史蒂夫恩德斯。

Okay. Great.

好的。偉大的。

I guess I just want to ask on like the profitability drivers in the quarter here. I know it's particularly strong here. So I guess what were the biggest areas of upside that led to that? And I guess, how should we think about what that looks like going forward? And if there was any maybe shifting in expenses that got moved into the -- for the rest of the year here?

我想我只想問一下這個季度的盈利驅動因素。我知道這里特別強。所以我想導致這種情況的最大上行領域是什麼？我想，我們應該如何看待未來的發展？如果今年餘下的時間裡有任何費用轉移到這裡？

Yes. I think in terms of just kind of highlighting any potential shifts, Dustin mentioned this and I hope you all can make it, that we'll have both the customer as well as an investor event in Q3 in October, and that will have a slight bump in our marketing expense.

是的。我認為就只是強調任何潛在的轉變而言，達斯汀提到了這一點，我希望你們都能做到，我們將在 10 月份的第三季度同時舉辦客戶和投資者活動，這將有輕微的變化增加我們的營銷費用。

But really, the drivers of kind of the profitability is really just the team and the company just being much more mindful around our resources, the things that we work on, the things that are most important and the things that have the highest ROI. And sometimes, that's not doing certain things and sometimes, it's really doubling down on things that we think will scale over time. So maybe some of the employees that are on the call, I really just want to congratulate them on their hard work because it's not any one person that can deliver that type of savings.

但實際上，盈利能力的驅動因素實際上只是團隊和公司更加關注我們的資源、我們所做的事情、最重要的事情和具有最高投資回報率的事情。有時，這並沒有做某些事情，有時，它確實在我們認為會隨著時間的推移而擴展的事情上加倍努力。所以也許一些正在打電話的員工，我真的只是想祝賀他們的辛勤工作，因為沒有任何人可以提供這種類型的儲蓄。

And likewise, I'd just like to add some praise for Tim and the rest of the company planning team. I think they've just been really disciplined and diligent about looking for opportunities to save wherever we can and just being that much more intentional about every incremental investment. I think all of that has added up to a good outcome here.

同樣，我想對蒂姆和公司規劃團隊的其他成員表示讚賞。我認為他們真的非常自律和勤奮地尋找機會盡可能地儲蓄，並且對每一次增量投資都更加有意識。我認為所有這些加起來在這裡取得了良好的結果。

The next question is from the line of Jackson Ader with SVB.

下一個問題來自 SVB 的 Jackson Ader。

Great.

偉大的。

Dustin, the discussion around the potential to change the revenue model if needed. Just curious, do you have good enough data now or -- either on your ROI or the value that you create for your customers to be able to even kind of credibly say, this is the value we're driving and we take a certain percentage of that currently? And how do you measure it?

達斯汀，關於在需要時改變收入模式的可能性的討論。只是好奇，你現在是否有足夠好的數據，或者 - 無論是關於你的投資回報率還是你為客戶創造的價值，甚至可以可信地說，這就是我們正在推動的價值，我們採取了一定的百分比目前的？你如何衡量它？

Yes. It's a really complex question because I would say we do have data like that, including reports that have been run by third parties like IDC, that are kind of looking at what is the kind of work about work that we're helping eliminate or make faster, what kind of meetings we're saving, how much time we save whenever something gets automated in the product. But that's not the type of proof that would be relevant in this imagined future. So I think we'll have to play that by ear if we're really playing out into a different revenue model. And I just want to be clear that like -- that's not something we're moving to do right now, and that's not something that I think is a likely future in the next few years.

是的。這是一個非常複雜的問題，因為我想說我們確實有這樣的數據，包括由 IDC 等第三方運行的報告，這些報告正在研究我們正在幫助消除或製造的工作的類型更快，我們節省了什麼樣的會議，每當產品中的某些東西自動化時我們節省了多少時間。但這不是與這個想像中的未來相關的證據類型。所以我認為，如果我們真的要嘗試一種不同的收入模式，我們就必須見機行事。我只是想明確一點——這不是我們現在要做的事情，我認為這不是未來幾年可能發生的事情。

The next question is from the line of Alex Zukin with Wolfe Research.

下一個問題來自 Alex Zukin 與 Wolfe Research 的合作。

This is Ethan on for Alex.

這是 Alex 的 Ethan。

Dustin or Tim, I guess, can you talk a little bit about kind of what the shape of the demand environment looked like throughout the quarter? And then as we are like a month into the second quarter now, as we think about like the guidance both for 2Q and how you're thinking about the rest of the year, like what trends have you seen, I guess, in the first month of April in terms of the time behavior, customer conversations being stabilized? Gotten better or worse? Just as you think about the last 2 months of this quarter, just like what kind of assumptions are you seeing there?

達斯汀或蒂姆，我想，你能談談整個季度的需求環境是什麼樣的嗎？然後我們進入第二季度已經一個月了，我們正在考慮第二季度的指導以及您對今年剩餘時間的看法，就像您在第一季度看到的趨勢一樣4 月份的時間行為、客戶對話是否穩定？變得更好還是更糟？就像您考慮本季度的最後兩個月一樣，您在那裡看到了什麼樣的假設？

Ethan, it's Anne. I can answer the question about buying behavior and what we're seeing in customer conversations.

伊桑，是安妮。我可以回答有關購買行為的問題以及我們在客戶對話中看到的內容。

We're actually seeing really good, steady pipeline builds in all of our regions. I think, if anything, things have stabilized for many of our customers. And some of the things that we do see as promising are more consolidation conversations, more multiyear agreements. A good customer example is a leading biotech company signed a 3-year deal with us to standardize work practices across their organization, and this really enables them to move more quickly and consistently to bring products to market around the world.

實際上，我們在所有地區都看到了非常好的、穩定的管道建設。我認為，如果有的話，我們的許多客戶的情況已經穩定下來。我們確實認為有希望的一些事情是更多的整合對話，更多的多年期協議。一個很好的客戶示例是一家領先的生物技術公司與我們簽署了一項為期 3 年的協議，以標準化其整個組織的工作實踐，這確實使他們能夠更快、更一致地將產品推向世界各地的市場。

And so I do think we're seeing very positive conversations. And in our most strategic accounts as well as in those industries outside of tech where the decision-making does lead to longer deal cycles, because people are probably more measured in how they're making their investments, but that also means like once we close those deals, they have greater longevity and durability. So the diversification outside of tech is an area we've been really focused on and seeing really promising results in.

所以我確實認為我們看到了非常積極的對話。在我們最具戰略意義的客戶以及技術以外的那些行業中，決策確實會導致更長的交易週期，因為人們可能會更謹慎地衡量他們的投資方式，但這也意味著一旦我們關閉這些交易，它們具有更長的壽命和耐用性。因此，技術以外的多元化是我們一直真正關注的領域，並且看到了非常有希望的結果。

Ultimately, we think those wins are great for us because they are innovative companies in industries where other companies will look to what they purchase in work management. And so we think that's a really important investment on our part, given where we are in the category development.

歸根結底，我們認為這些勝利對我們來說是件好事，因為它們是行業中的創新型公司，在這些行業中，其他公司會關注他們在工作管理中購買的東西。因此，考慮到我們在類別開發中的位置，我們認為這對我們來說是一項非常重要的投資。

Next question is from the line of Jason Celino with KeyBanc.

下一個問題來自 KeyBanc 的 Jason Celino。

In the script, Anne mentioned seeing some 7-figure deals, those opportunities start to emerge. It sounds pretty encouraging. Just curious of those opportunities, are those mostly enterprises without work management platforms looking to deploy a single vendor, or are those expansions of your existing customers?

在劇本中，安妮提到看到一些 7 位數的交易，這些機會開始出現。這聽起來很鼓舞人心。只是對這些機會感到好奇，那些沒有工作管理平台的企業是希望部署單一供應商，還是現有客戶的擴展？

Yes. We're actually seeing both. We are seeing ones where it is RSP-based picking one vendor where there's no existing solutions, or if there are, they aren't -- it's really, really fragmented, and the CIO office is making a decision to pick one partner. So we are engaged in more of those as well as ones that are expansion deals where we've had strong deployments on a departmental level and then we are now partnering with a centralized buyer to expand. So the Navan example that I mentioned is going wall to wall. Our portfolios and OKR products, in particular, were the reason that they chose us. And as part of that consolidation, eliminated other products that again, weren't widely adopted, but still we're displacing any existing tools.

是的。我們實際上看到了兩者。我們看到一些基於 RSP 的選擇一個沒有現有解決方案的供應商，或者如果有，他們沒有 - 它真的非常分散，CIO 辦公室正在決定選擇一個合作夥伴。因此，我們參與了更多此類交易以及擴展交易，在這些交易中，我們在部門級別進行了強大的部署，然後我們現在與集中買家合作進行擴展。因此，我提到的 Navan 示例是從牆到牆。我們的投資組合和 OKR 產品尤其是他們選擇我們的原因。作為整合的一部分，我們淘汰了其他未被廣泛採用的產品，但我們仍在取代任何現有工具。

The next question is from the line of Josh Baer with Morgan Stanley.

下一個問題來自摩根士丹利的 Josh Baer。

Great.

偉大的。

For Dustin, you talked about the potential for Asana to become your customers' AI strategy, which is a really interesting concept and opportunity. Just thinking longer term, do you see knowledge workers using a single core AI tool for all things AI? Or is there a scenario where workers would use AI embedded within all the different apps and workflows? And then related, where Asana does sit alongside Office 365, what are some of the reasons why you see Asana as that core customer AI strategy versus Microsoft's Office or other co-pilots?

對於達斯汀，你談到了 Asana 成為客戶人工智能戰略的潛力，這是一個非常有趣的概念和機會。從長遠來看，您是否看到知識工作者使用單一核心 AI 工具來處理 AI 的所有事物？或者是否存在員工會使用嵌入所有不同應用程序和工作流程中的 AI 的場景？然後相關的是，Asana 確實與 Office 365 並駕齊驅，您將 Asana 視為核心客戶 AI 戰略而不是 Microsoft 的 Office 或其他合作夥伴的一些原因是什麼？

Yes. Thanks for the question. That's a great one.

是的。謝謝你的問題。這是一個偉大的。

So just stepping back, we still see overall collaboration software as being about like 3 major swim lanes. So there's the content tools like Office 365, communication tools like Zoom and Slack and e-mail, and then Collaborative Work Management, which is all about managing work and progress, answering who's doing what by when. And I don't mean to position Asana as like the one tool that is going to sort of swallow all 3 of those and become the only part of your AI strategy, but I do think that companies are looking at how are they going to go through what is effectively a second wave of digital transformation, how are they going to integrate this into their workflows and how they use it to help teams day by day get their work done. And I think that Asana can be an easy sort of out-of-box way to do that especially if they're an existing customer, just like it's a big part of the puzzle if you're trying to do the first wave of digital transformation, of getting people to collaborate digitally instead of relying on meetings and whiteboards and sort of the analog ways of doing things.

所以退一步說，我們仍然認為整體協作軟件大約有 3 條主要泳道。所以有像 Office 365 這樣的內容工具，像 Zoom 和 Slack 以及電子郵件這樣的通信工具，然後是協作工作管理，它都是關於管理工作和進度，回答誰在什麼時候做什麼。我並不是要把 Asana 定位為一種可以吞併所有這 3 種工具並成為你人工智能戰略的唯一部分的工具，但我確實認為公司正在研究他們將如何去通過實際上是第二波數字化轉型，他們將如何將其集成到他們的工作流程中，以及他們如何使用它來幫助團隊每天完成工作。而且我認為 Asana 可以是一種簡單的開箱即用的方式來做到這一點，特別是如果他們是現有客戶，就像如果你想做第一波數字化一樣，它是難題的重要組成部分轉型，讓人們以數字方式協作，而不是依賴會議和白板以及類似的模擬方式做事。

So I think in the future, Asana will be the hub that's sort of coordinating the work across these systems. But you are likely to go into a document editor or a creative tool like Adobe Creative Cloud when you're trying to produce a large piece of content, and I'm sure that they will have their own sort of specialized AI tools within that. So it's more of a yes and there.

所以我認為在未來，Asana 將成為協調這些系統之間工作的中心。但是，當您嘗試製作大量內容時，您可能會使用文檔編輯器或 Adobe Creative Cloud 等創意工具，我相信他們將在其中擁有自己的專業 AI 工具。所以它更像是一個是的。

In terms of why us? I think that the Work Graph really amplifies the power of AI, especially for large enterprises by creating data reliability, accuracy and traceability. So without a Work Graph fact and the intelligence and AI is inhibited by siloed organizations, tools and projects, that means results are always going to be inferior because it can't make connections across teams in the organization and ends up relying on duplicate or still data, and there's no real notion of version control or traceability. So you end up with sort of inferior inputs to the AI, and therefore, inferior results.

為什麼是我們？我認為 Work Graph 通過創建數據可靠性、準確性和可追溯性真正增強了 AI 的力量，尤其是對於大型企業而言。因此，如果沒有 Work Graph 事實，智能和 AI 會受到孤立的組織、工具和項目的抑制，這意味著結果總是會很差，因為它無法在組織中的團隊之間建立聯繫，最終依賴於重複的或仍然存在的數據，並且沒有版本控製或可追溯性的真正概念。所以你最終得到的是對 AI 的低劣輸入，因此，結果也很差。

So all of that really ties back to how the Work Graph connects work from Goals, all the way to work execution and resourcing, and that makes it easy for AI to gather and explain all the decision relevant information.

因此，所有這些實際上都與工作圖如何將工作與目標聯繫起來，一直到工作執行和資源分配，這使得人工智能很容易收集和解釋所有與決策相關的信息。

Asana is also the only platform that really enables cross-team, cross-functional coordination without duplication of work, and so that's really important for having that complete, high-quality data. And I've said before, you get increasing returns to scale in deploying Asana, and I think AI is making that more true than ever. So you want as much of the relevant content to be connected in the system even if some of it was created using a partner vendor like Office 365, but Asana helps the AI see how it all really fits together for the work in progress.

Asana 也是唯一一個真正實現跨團隊、跨職能協調而無需重複工作的平台，因此這對於擁有完整、高質量的數據非常重要。我之前說過，在部署 Asana 時你會獲得規模回報遞增，我認為 AI 比以往任何時候都更能實現這一點。因此，您希望在系統中連接盡可能多的相關內容，即使其中一些內容是使用 Office 365 等合作夥伴供應商創建的，但 Asana 幫助 AI 了解它們如何真正適合正在進行的工作。

And then finally, because the Work Graph is kept up to date real time, you can trust it for insights and suggestions. So it's the richest data set for understanding work. And so really, it becomes an essential foundation for integrating machine intelligence that enables humans and AIs to work together to accomplish an organization goals -- organization's goals.

最後，由於 Work Graph 實時更新，您可以相信它會提供見解和建議。所以它是理解工作的最豐富的數據集。因此，它確實成為集成機器智能的重要基礎，使人類和 AI 能夠協同工作以實現組織目標——組織的目標。

And I'll just also say, I mean, we've been thinking about this a really long time. And I think that also sort of gives us a differentiated ability to deliver for customers and help them sort of jump start their journey in this intelligence revolution, and it's helped us sort of design the vision, the architecture of the product, so we have the right building blocks that we can now deploy in combination with these language models to deliver a lot of value quickly. And we're also just personally deeply connected to the AI labs that are leading the way, including -- we share a Board member in Adam D'Angelo. My foundation actually helped provide the initial funding for OpenAI in 2017, and Sam Altman happens to also be a key investor at Asana.

我還要說，我的意思是，我們已經考慮了很長時間。而且我認為這也給了我們一種差異化的能力來為客戶提供服務並幫助他們在這場智能革命中開始他們的旅程，並且它幫助我們設計了產品的願景和架構，所以我們有我們現在可以結合這些語言模型部署正確的構建塊，以快速交付大量價值。而且我們個人也與引領潮流的 AI 實驗室有著密切的聯繫，包括——我們共同擔任董事會成員 Adam D'Angelo。我的基金會實際上在 2017 年幫助為 OpenAI 提供了初始資金，而 Sam Altman 恰好也是 Asana 的主要投資者。

So we're really excited about the future here and really, it's been a long time coming, but the Work Graph's kind of be able to create differentiated quality of output by ensuring a single source of truth across the levels work. And I think that's really why Collaborative Work Management and the Work Graph within that is going to be a really key part of the future solution for customers.

因此，我們對這裡的未來感到非常興奮，真的，這已經等了很長時間了，但是 Work Graph 能夠通過確保跨級別工作的單一事實來源來創造差異化的輸出質量。我認為這就是為什麼協作工作管理和其中的工作圖將成為未來客戶解決方案的真正關鍵部分的原因。

The next question is from the line of Brent Bracelin with Piper Sandler.

下一個問題來自 Brent Bracelin 和 Piper Sandler。

This is Mauro on for Brent.

這是布倫特的毛羅。

So I just had one around these large language model features that you're testing in beta. Could you just share a little bit with us about how you're thinking about maintaining the integrity of governance compliance and trust capabilities as you layer in these sorts of features into the Asana platform? Just considering the needs of your large and enterprise customers.

因此，我剛剛圍繞您正在測試的這些大型語言模型功能進行了測試。您能否與我們分享一下您在將這些功能分層到 Asana 平台時如何考慮維護治理合規性和信任功能的完整性？僅考慮您的大型和企業客戶的需求。

Is there a specific concern you have within that?

您對此有什麼特別的擔憂嗎？

No. Just -- so just the general strategy that you have around kind of maintaining the capabilities for people to protect their data, considering the data needs of training these large language models. So I just wanted a little bit more color on how Asana can actually go about actually maintaining the integrity of customer data.

不，只是——考慮到訓練這些大型語言模型的數據需求，你所擁有的一般策略就是維護人們保護數據的能力。所以我只是想更多地了解 Asana 如何實際維護客戶數據的完整性。

Yes.

是的。

So first of all, I think it's just really important to be transparent about where intelligence is showing up in the products. So even before we deploy these products into the beta, we're communicating with the advent of these companies, giving them a chance to opt out before their employees are -- ever see it in the first place. And then additionally, the commercial relationships that we established with the labs include protections against using customer data to go back and to train the model, I think there's -- the future for enterprise and language models is that there's going to be a training data set. And then once the model is trained, the customer data won't be part of that unless it's part of fine-tuning the model, but then that would be owned by the vendor, by Asana in this case, and wouldn't be content that is effectively licensed back to the major labs.

所以首先，我認為對產品中出現智能的地方保持透明非常重要。因此，甚至在我們將這些產品部署到測試版之前，我們就在與這些公司的出現進行溝通，讓他們有機會在他們的員工之前選擇退出——首先看到它。此外，我們與實驗室建立的商業關係包括防止使用客戶數據返回和訓練模型，我認為 - 企業和語言模型的未來是將有一個訓練數據集.然後，一旦模型經過訓練，客戶數據就不會成為其中的一部分，除非它是微調模型的一部分，但那將由供應商擁有，在這種情況下由 Asana 擁有，並且不會滿足有效地許可回主要實驗室。

I also think in the near future, customers are going to end up expressing a preference about which of the foundation models they want to use underneath because they have a point of view about what the compliance of the underlying cloud provider or the security capabilities of the underlying providers, so there's a stack here. But for example, if you're using Anthropic, it might be AWS as the cloud provider and Anthropic is providing the foundation model underneath, customer might care out both of those choices. So I think we'll end up providing a lot of choice for them as well as just being transparent about where exactly the data is going, when, and then making sure contractually that it's only used in the ways that customers expect and Asana wants.

我還認為在不久的將來，客戶最終會表達他們希望在底層使用哪種基礎模型的偏好，因為他們對底層雲提供商的合規性或云提供商的安全功能有自己的看法。底層提供者，所以這裡有一個堆棧。但是，例如，如果您使用 Anthropic，它可能是 AWS 作為雲提供商，而 Anthropic 正在提供底層的基礎模型，客戶可能會關心這兩個選擇。所以我認為我們最終會為他們提供很多選擇，同時對數據的確切去向、時間保持透明，然後通過合同確保它只以客戶期望和 Asana 想要的方式使用。

The next question will be from the line of Robert Simmons with D.A. Davidson.

下一個問題將來自 Robert Simmons with D.A.戴維森。

So I know you've been experimenting with some pricing and packaging changes. I wonder if you could give us any updates on how those are going, any specifics you can share? And then are you seeing any good results so far that you'd want to scale up and might have out sometime this year in the company-wide results?

所以我知道你一直在嘗試一些定價和包裝的變化。我想知道您是否可以向我們提供有關進展情況的任何最新信息，您可以分享任何細節嗎？那麼到目前為止，您是否看到了任何您想要擴大規模並且可能在今年某個時候在全公司範圍內取得成果的好結果？

Robert, so our pricing and packaging updates are really focused on our enterprise customers. We've got 2 primary goals we're working towards. First is landing better, and then the second is creating an easier or frictionless journey for them to grow with us from there.

羅伯特，所以我們的定價和包裝更新真正專注於我們的企業客戶。我們有 2 個主要目標正在努力實現。首先是更好地著陸，其次是為他們創造一個更輕鬆或無摩擦的旅程，讓他們從那裡與我們一起成長。

So we're working very thoughtfully to align value and to more easily enable these customers to quickly add additional functions and use cases as they grow. So we're early in our beta testing with selected customers and getting good feedback. We're ultimately looking forward to sharing more at our investor event in October, but working really hard right now to make final decisions based on customer feedback and based on where we see the most value for our customers.

因此，我們正在非常周到地努力調整價值，並更輕鬆地使這些客戶能夠隨著他們的成長快速添加額外的功能和用例。因此，我們很早就與選定的客戶進行了 Beta 測試，並獲得了良好的反饋。我們最終期待在 10 月份的投資者活動中分享更多信息，但現在非常努力地根據客戶反饋和我們認為對客戶最有價值的地方做出最終決定。

The last question will be from the line of Patrick Walravens with JMP Securities.

最後一個問題將來自 JMP Securities 的 Patrick Walravens。

Great.

偉大的。

Tim, a couple of related questions for you. So just as we look at revenue, so the year-over-year growth of 26% is one thing, but the sequential growth is like the lowest I think you've ever had. So if you could just comment on that a little bit and what's the right way to think about the right metric?

蒂姆，有幾個相關的問題要問你。所以就像我們看收入一樣，26% 的同比增長是一回事，但連續增長就像我認為你曾經有過的最低水平一樣。那麼，如果您可以對此發表一點評論，那麼考慮正確指標的正確方法是什麼？

And then -- but then on a more positive note, the cRPO growth is higher than the reported revenue growth. So is that just the enterprise? How do we think about that?

然後 - 但從更積極的角度來看，cRPO 增長高於報告的收入增長。那隻是企業嗎？我們如何看待這一點？

No, you're spot on. So the -- we actually -- in terms of multiyear deals, we saw an increase of 65% or almost 66% year-over-year in the number of multiyear deals. So Anne kind of mentioned this on the call as well. Just customers are starting to really commit to a work management platform. People, customers and larger enterprises are thinking about consolidating if they have multiple platforms within their company. So I think these are all encouraging signs.

不，你說對了。因此 - 我們實際上 - 就多年期交易而言，我們看到多年期交易的數量同比增長 65% 或近 66%。所以安妮也在電話中提到了這一點。只是客戶開始真正致力於工作管理平台。如果公司內部有多個平台，人們、客戶和大型企業正在考慮整合。所以我認為這些都是令人鼓舞的跡象。

Our guidance takes into account kind of the macro backdrop, but I would say that we -- like I said, I think we feel really good about the guidance that we're providing both at the topline as well as the bottom line. So hopefully, that's helpful.

我們的指導考慮了宏觀背景，但我想說的是——就像我說的，我認為我們對我們在頂線和底線提供的指導感覺非常好。希望這會有所幫助。

That concludes our question-and-answer session for today. I will now pass the call back over to Dustin for some closing remarks.

今天的問答環節到此結束。我現在將把電話轉回達斯汀，聽取一些結束語。

Yes. Thanks.

是的。謝謝。

Just wanted to thank everyone on the call again for making the time to join today. And we're really looking forward to seeing you at both our customer event and the Investor Day in New York City on October 3. So I hope to see you there.

只是想再次感謝電話中的每個人今天抽出時間加入。我們真的很期待在我們的客戶活動和 10 月 3 日在紐約市舉行的投資者日見到你。所以我希望能在那裡見到你。

Thanks, everyone.

感謝大家。

That concludes today's call. Thank you for your participation. You may now disconnect your lines.

今天的電話會議到此結束。感謝您的參與。您現在可以斷開線路。