Asana Inc (ASAN) 2025 Q1 法說會逐字稿

Good day, and thank you for standing by.

您好，感謝您的支持。

Welcome to Asana's first-quarter 2025 earnings call.

歡迎參加 Asana 2025 年第一季財報電話會議。

(Operator Instructions) Please be advised that today's conference is being recorded.

（操作員指示）請注意，今天的會議正在錄音。

I would now like to hand the conference over to Catherine Buan, Head of Investor Relations.

現在，我想將會議交給投資者關係主管 Catherine Buan。

Please go ahead.

請繼續。

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 2025.

下午好，感謝您參加今天的電話會議，討論 Asana 2025 財年第一季的財務業績。

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.

今天與我一起參加電話會議的還有 Asana 的聯合創始人兼首席執行官達斯汀·莫斯科維茨 (Dustin Moskovitz)；我們的營運長兼業務主管 Anne Raimondi；以及我們的財務長Tim Wan。

Today's call will include forward-looking statements, including statements regarding our expectations for free cash flow, our financial outlook, strategic plans, and our market position and growth opportunities.

今天的電話會議將包括前瞻性陳述，包括有關我們對自由現金流的預期、我們的財務前景、策略計劃以及我們的市場地位和成長機會的陳述。

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.

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表達或暗示的結果有重大差異。

Please refer to our filings with the SEC, including our most recent annual report on 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.

有關可能導致實際結果與預期大不相同的風險、不確定性和假設的更多信息，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10-K 表年度報告和10-Q 表季度報告。

In addition, during today's call, we will discuss non-GAAP financial measures.

此外，在今天的電話會議上，我們將討論非公認會計準則財務指標。

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.

這些非 GAAP 財務指標是根據 GAAP 編制的財務績效指標的補充，而非替代或優於後者。

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 web page at investors.asana.com.

我們的收益報告中包含了GAAP 和非GAAP 財務指標之間的對帳以及使用非GAAP 指標相對於最接近的GAAP 指標的局限性的討論，該報告發佈於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.

現在，我想將電話轉給達斯汀。

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

謝謝你，凱瑟琳，也謝謝大家今天參加我們的電話會議。

Asana had a good first quarter, as we continue to execute on our enterprise go-to-market strategy and make progress on Asana AI.

Asana 在第一季表現良好，我們繼續執行企業行銷策略並在 Asana AI 方面取得進展。

I'll go through a few of the highlights from the quarter and then jump into how I see the AI landscape evolving.

我將回顧本季的一些亮點，然後談談我所看到人工智慧格局的發展。

Q1 revenues grew 13% year over year, with revenue from our largest customers growing even faster than that, and non-GAAP operating margins improved 5 percentage points year over year.

第一季營收年增 13%，其中來自最大客戶的營收成長速度更快，非 GAAP 營業利潤率年增 5 個百分點。

Our growth continues to be fueled by some of the largest and the most strategic companies in the world who are partnering with Asana and redefining how they work.

我們的成長繼續受到世界上一些最大和最具戰略意義的公司推動，他們與 Asana 合作並重新定義他們的工作方式。

It's been a solid start to the year, and we continue to focus on our enterprise playbook, sales productivity, and building our enterprise muscle.

今年的開局很好，我們將繼續專注於我們的企業策略、銷售效率和企業實力的打造。

Now, I want to get to what's top of mind for me.

現在，我想了解我最關心的問題。

AI is a disruptive force that will dramatically reshape all of software.

人工智慧是一種顛覆性的力量，它將徹底重塑所有軟體。

Rigid software categories like ITSM, CRM -- you can go down the list -- they're all designed for an earlier paradigm.

嚴格的軟體類別，例如 ITSM、CRM — — 您可以逐一查看 — — 它們都是為早期範式設計的。

AI is transforming the way we manage work, the way we execute work, and the way we think about how to work.

人工智慧正在改變我們管理工作的方式、執行工作的方式以及我們思考工作的方式。

Everyone's mental model for how work gets done today needs to be rethought.

每個人對於如何完成工作的思考模型都需要重新思考。

Let me start with how folks currently think about our category, collaborative work management.

首先讓我先來了解大家目前對我們的類別—協作工作管理的看法。

What used to be about helping humans coordinate work at scale has expanded to enabling humans and AI to collaborate and achieve extraordinary things together.

它過去旨在幫助人類大規模協調工作，如今已擴展到讓人類和人工智慧能夠合作並共同實現非凡的成就。

At Asana, we believe the future of work is humans and AI collaborating side by side, with AI teammates taking on and completing increasingly complex tasks and workflows.

在 Asana，我們相信未來的工作是人類與人工智慧並肩合作，人工智慧隊友將承擔並完成日益複雜的任務和工作流程。

There's incredible enthusiasm for AI in the enterprise, and rightfully so.

企業對人工智慧的熱情令人難以置信，這是理所當然的。

But most of what's been released today are co-pilots and assistants, AI that's meant to help personal productivity, summarize and generate text, and look up information.

但今天發布的大部分是副駕駛和助手，這些人工智慧旨在提高個人生產力、總結和生成文字以及尋找資訊。

These are useful, but they're asking a lot of users to decide to change their existing behaviors and in many cases, involve a new chat application with its own learning curve.

這些都很有用，但它們要求許多用戶決定改變他們現有的行為，並且在許多情況下，需要使用具有自身學習曲線的新聊天應用程式。

We're just starting to scratch the surface of what's possible when thinking AI less as an assistant and more as a teammate.

當我們將人工智慧視為隊友而非助手時，我們才剛開始探索其可能性的表面。

Today, AI can take on individual tasks and assist in completing workflow steps.

如今，人工智慧可以承擔單一任務，並協助完成工作流程步驟。

And as we go forward, AI will own more and more complexity from taking on individual tasks, to assisting with individual projects and workflows, to eventually overseeing entire portfolios of work, helping you balance the workload, avoid missing deadlines, and keep the team aligned around shared clarity.

隨著我們的進步，人工智慧將承擔越來越複雜的任務，從承擔單一任務，到協助單一專案和工作流程，再到最終監督整個工作組合，幫助你平衡工作量，避免錯過最後期限，並保持團隊的協調一致圍繞著共享清晰度。

But there's still a trust issue in the enterprise.

但企業中仍存在信任問題。

In fact, our work innovation lab found that 53% of executives are concerned people will make decisions using unreliable information from generative AI.

事實上，我們的工作創新實驗室發現，53% 的高階主管擔心人們會使用來自生成式人工智慧的不可靠資訊來做出決策。

We've all seen confabulating chatbots, and this doesn’t breed confidence in the workplace.

我們都見過聊天機器人，這並不能在工作場所建立信心。

So there are a few key customers are grappling with.

因此，有幾個關鍵客戶正在努力解決。

How can we trust AI?

我們如何信任人工智慧？

How do we ensure humans are in the loop and held accountable?

我們如何確保人類參與其中並承擔責任？

And then how do we scale AI at work from just an assistant to a teammate so it’s not just completing discrete tasks?

那麼我們該如何將工作中的人工智慧從助手擴展到隊友，使其不僅僅是完成離散任務？

Instead, AI could be taking on bigger bodies of work and taking responsibility for higher level goals.

相反，人工智慧可以承擔更大的工作量並承擔更高層次目標的責任。

What gives me so much confidence is that the Work Graph is the ideal structure to overcome these hurdles and scale AI with confidence.

讓我如此有信心的是，工作圖是克服這些障礙並自信地擴展人工智慧的理想結構。

Asana understands how work and workflows map to goals and can break it down in ways both humans and AI can understand and action.

Asana 了解工作和工作流程如何映射到目標，並能以人類和人工智慧都能理解和採取行動的方式將其分解。

We capture the relevant context without the digital exhaust that exists in other collaboration tools that focus more on documents or chat or the scaling and visibility issues you see with our peers in work management.

我們捕捉到相關的上下文，而沒有其他協作工具中存在的數位排放，這些工具更側重於文件或聊天，或您在工作管理中與我們的同行一起看到的擴展和可見性問題。

A helpful analogy is thinking of Asana and the Work Graph is a form of digital scaffolding.

一個有用的類比是將 Asana 和工作圖視為一種數位鷹架。

Said another way, we have the necessary structure.

換句話說，我們擁有必要的結構。

We understand the relationships between people, work, and workflows.

我們了解人、工作和工作流程之間的關係。

And that means we direct the AI to consider exactly the right context, not try to decipher what is signal from all the data in your enterprise.

這意味著我們指導人工智慧考慮正確的背景，而不是試圖解讀企業中所有數據的訊號。

With this understanding, AI can begin to provide intelligent assistance, automate tasks, and even act as an agent or teammate, driving work forward.

有了這種理解，人工智慧可以開始提供智慧協助，自動執行任務，甚至充當代理商或隊友，推動工作向前發展。

Imagine an AI teammate that is the most organized, knowledgeable, effective, and encouraging project manager that you’ve ever worked with, helping you figure out the best way to plan and accomplish work and even doing a lot of the work themselves rather than assigning it all to others.

想像一下，你的AI 隊友是你合作過的最有條理、最有知識、最高效、最鼓舞人心的專案經理，他能幫助你找到規劃和完成工作的最佳方式，甚至自己完成很多工作，而不是把一切都分配給別人。

Our platform is also where the actual collaboration between humans and AI will happen.

我們的平台也是人類和人工智慧實際合作的地方。

By deeply integrating AI capabilities into the tools teams already use to manage and execute work, we're creating the ideal environment for humans and machines to work together seamlessly.

透過將 AI 功能深度整合到團隊已經用於管理和執行工作的工具中，我們正在創建人類和機器無縫協作的理想環境。

With Asana, AI teammates appear right in the flow of work, not in a separate tool.

借助 Asana，AI 隊友會直接出現在工作流程中，而不是出現在單獨的工具中。

As we build this future, Asana's focus on how work is structured will be a key advantage.

在我們建構未來的過程中，Asana 對工作結構方式的關注將是一個關鍵優勢。

We know which context to look at; and we don’t try to look at all possible data, which is how you easily end up with errors.

我們知道要看哪個背景；我們並不會嘗試查看所有可能的數據，這很容易導致錯誤。

I like to say that language models confabulate when they try to give you an answer based on what is in the training data, but they are vastly more accurate when asked to give you an answer based on what's in the context window.

我喜歡說，當語言模型試圖根據訓練資料中的內容給你一個答案時，它們會產生想像，但是當它們被要求根據上下文視窗中的內容給你一個答案時，它們的準確度會高得多。

Our strategic advantage is being able to identify the most important context well because it’s explicitly identified by the relationships between the tasks, projects, portfolios, goals, and people in the Work Graph.

我們的策略優勢是能夠很好地識別最重要的背景，因為它可以透過工作圖中的任務、專案、投資組合、目標和人員之間的關係明確地識別。

This context and high signal-to-noise ratio will allow the AI we develop to deliver insights and automation with a level of precision and impact that scattered, noisy data simply can't match.

這種背景和高信噪比將使我們開發的人工智慧能夠提供洞察力和自動化，其精度和影響力是分散的、嘈雜的數據無法比擬的。

Let’s think about this in the context of common workflows our customers rely on Asana for every day.

讓我們在客戶每天依賴 Asana 的常見工作流程背景下思考這個問題。

In resource planning today, you can ask Asana’s AI to determine the bottlenecks and key staffing risks by project, portfolio, or goal.

在當今的資源規劃中，您可以讓 Asana 的 AI 以專案、投資組合或目標確定瓶頸和關鍵人員配備風險。

AI can also apply decision making principles with judgment to route work to the right team.

人工智慧還可以運用決策原則和判斷力，將工作分配給合適的團隊。

In the future, AI will understand the complexity of each project, predict potential roadblocks, and proactively suggest the best team composition to ensure success.

未來，人工智慧將了解每個專案的複雜性，預測潛在的障礙，並主動建議最佳的團隊組成以確保成功。

That team would be made up of human and AI teammates working together.

該團隊將由人類和人工智慧隊友共同組成。

For goal management, today’s Asana AI can assist in writing goals based on best practices, help identify which teams are the best suited to take on the work, and actually identify which work in the organization would be best to link to that goal.

對於目標管理，如今的 Asana AI 可以協助根據最佳實踐編寫目標，幫助確定哪些團隊最適合承擔這項工作，並實際確定組織中的哪些工作最適合與該目標掛鉤。

In the future, AI will analyze the Work Graph to identify which initiatives are driving the most progress towards key results and suggest course corrections for those that are off track.

未來，人工智慧將分析工作圖，以確定哪些措施對關鍵成果的進展最為有利，並對偏離軌道的舉措提出糾正建議。

Today, for product launches, PMOs can use AI to recognize where other teammates need to be added, where decisions need to be made, and ask Asana’s AI to review work and assign approval tasks.

如今，對於產品發布，PMO 可以使用 AI 來識別需要添加其他隊友的地方、需要做出決策的地方，並要求 Asana 的 AI 審查工作並分配審批任務。

You can have Asana AI complete work now, like having it help edit and draft creative briefs.

現在您就可以讓 Asana AI 完成工作，例如讓它幫助編輯和起草創意簡報。

As work gets done today, AI will create accurate real time status reporting on goals, portfolios, and projects based on the exact format your team prefers.

隨著今天工作的完成，AI 將根據您的團隊喜歡的確切格式，建立有關目標、投資組合和專案的準確即時狀態報告。

What’s next?

下一步是什麼？

AI will take on increasingly complicated portions of the work and handoffs associated with a successful launch, all while keeping human teammates accountable in the loop.

人工智慧將承擔與成功發射相關的越來越複雜的工作和交接部分，同時讓人類隊友承擔全部責任。

That’s just thinking about the transformation of common workflows our customers rely on us for today.

這只是考慮客戶今天所依賴的常見工作流程的轉變。

The opportunity here is so much bigger.

這裡的機會更大。

We now have the ability to customize and personalize workflows effortlessly and can do this in infinite ways.

我們現在能夠輕鬆地客製化和個人化工作流程，並且可以以無限的方式做到這一點。

This level of customization is hard to even grok because it was so out of reach before.

這種程度的定制甚至很難理解，因為它以前是遙不可及的。

There will be a significant amount of value creation as a large swath of enterprise workflows are reinvented with AI and rigid software categories of the past are reshaped.

隨著大量企業工作流程透過人工智慧進行重塑以及過去僵化的軟體類別被重塑，將會產生大量的價值。

This is where we’re focused, and I believe we are uniquely positioned to win.

這就是我們的重點，我相信我們擁有獨特的優勢可以贏得勝利。

And our experience isn’t that we simply automate the work; it’s that we can do more, move faster, and raise the bar on quality.

我們的經驗並不是單純地實現工作自動化；我們可以做得更多、行動更快並提高品質標準。

Like we see in all paradigm shifts in technology, people translate workflows from the previous paradigm into the new paradigm before they realize this is incredibly limiting.

就像我們在所有技術範式轉變中看到的那樣，人們將工作流程從先前的範式轉化為新的範式，然後意識到這具有極大的限制。

The opportunity is to transform.

機會在於轉型。

Google and Meta built the best ads businesses in history by creating products only possible in the internet age, adapting ad units to new form factors, and building auction-based pricing with dynamic ad placement.

Google 和 Meta 透過創造只有在網路時代才可能實現的產品、使廣告單元適應新的形式因素以及透過動態廣告展示建立基於拍賣的定價，打造了歷史上最好的廣告業務。

This radically new and profitable model is analogous to the moment we're in.

這種全新且有利可圖的模式與我們現在所處的時代類似。

Let me give a concrete example.

我來舉一個具體的例子。

Right now, people think about automatically translating their marketing content to suit different verticals with AI.

現在，人們考慮利用人工智慧自動翻譯他們的行銷內容以適應不同的垂直行業。

But maybe in the near future, your marketing landing page is selected from a 1,000 possibilities.

但也許在不久的將來，您的行銷目標網頁是從 1,000 種可能性中選出來的。

They could be pre-customized by Asana AI workflows based on what will be the best possible match to the viewer.

它們可以透過 Asana AI 工作流程進行預先定制，以最符合觀眾的最佳匹配。

Because customizing to this degree is worth the inference cost, and Asana can make it easy.

因為這種程度的客製化值得付出推理成本，而 Asana 讓這一切變得簡單。

Or maybe vendor selection is done by AIs running sophisticated RFPs instead of people viewing marketing pages and asking questions.

或者也許供應商選擇是由運行複雜 RFP 的人工智慧來完成的，而不是由人們查看行銷頁面並提出問題。

Here is where elevating the quality and automated customization translates into increasing velocity and revenue for customers.

在這裡，提高品質和自動化客製化就意味著提高客戶的速度和收入。

I have more conviction than ever that the entire SaaS landscape is ripe for a dramatic upheaval, and Asana is well positioned to capture the opportunity it presents, to disrupt old software categories and be the digital scaffolding for humans and AI working together on any workflow that helps achieve their objectives.

我比以往任何時候都更加堅信，整個SaaS 領域即將迎來一場巨大的變革，而Asana 完全有能力抓住它帶來的機遇，顛覆舊的軟體類別，成為人類和人工智慧在任何工作流程上協同工作的數位支架。

And we expect our business will expand, too.

我們預計我們的業務也將擴大。

We believe AI will drive revenue growth for us in three key ways.

我們相信人工智慧將透過三種主要方式推動我們的收入成長。

First, it already enhances the value we deliver in our work management functionality, like with our Smart Summary and Smart Status features.

首先，它已經增強了我們在工作管理功能中提供的價值，例如我們的智慧摘要和智慧狀態功能。

We don’t package the AI parts of our core features as a separate SKU because we understand AI functionality is simply table stakes for participation in SaaS at this point.

我們不會將核心功能中的 AI 部分打包為單獨的 SKU，因為我們知道 AI 功能目前只是參與 SaaS 的賭注。

However, we believe the differentiated value provided by AI plus the Asana Work Graph makes us more competitive and increases our pricing power.

然而，我們相信AI加上Asana Work Graph提供的差異化價值使我們更具競爭力並增強了我們的定價能力。

It is motivating customers to migrate to our new packages.

它激勵客戶遷移到我們的新套餐。

At the same time, AI is enabling us to introduce new, powerful use cases that can be sold independently.

同時，人工智慧使我們能夠推出可獨立銷售的全新、強大用例。

So the second way we expect it will drive revenue growth is via license-based add-ons, and we have specific ones we're developing now.

因此，我們預計推動收入成長的第二種方式是透過基於授權的附加元件，我們現在正在開發特定的附加元件。

On top of that, like we’ve suggested in the past, there might be more usage-based AI revenue in the future as well.

除此之外，正如我們過去所建議的那樣，未來可能會有更多基於使用情況的人工智慧收入。

And over the past few months, we've gained conviction on that, specifically in the context of custom workflows.

在過去的幾個月裡，我們對此深信不疑，特別是在自訂工作流程的背景下。

We're working on a private beta with select customers, and we intend to expand more broadly to our enterprise customers as the year continues.

我們正在與特定客戶合作開發私人測試版，並打算在今年內將這項服務更廣泛地擴展到我們的企業客戶。

I’ll reiterate again how incredible this opportunity is in front of us and how well positioned we are to capture the AI opportunity in the enterprise.

我將再次重申，我們面前的這個機會有多麼不可思議，以及我們在企業中抓住人工智慧機會方面有多麼有利。

We believe that with AI and the Work Graph, we’ll further penetrate our existing market opportunity; and with AI-enabled features like custom workflows, we’ll increase our TAM and expand into new markets.

我們相信，借助人工智慧和工作圖譜，我們將進一步滲透現有的市場機會；借助自訂工作流程等人工智慧功能，我們將提高 TAM 並擴展到新的市場。

We moved early on AI.

我們很早就開始涉足人工智慧領域。

The Work Graph provides the ideal structure and scaffolding for AI to be effective.

工作圖為 AI 的有效性提供了理想的結構和支架。

We're the number one AI work management platform, and we're just getting started.

我們是第一的人工智慧工作管理平台，而且我們才剛起步。

We look forward to sharing more details at our Work Innovation Summit in San Francisco on June 5 and later this year in October in New York City.

我們期待在今年 6 月 5 日於舊金山舉行的工作創新高峰會以及今年 10 月稍後在紐約舉行的工作創新高峰會上分享更多細節。

And with that, I’ll turn things over to Anne.

說完這些，我就把事情交給安妮了。

Thanks, Dustin.

謝謝，達斯汀。

To further your point, our biggest, most innovative customers are focusing on AI as well.

為了進一步說明你的觀點，我們最大、最具創新力的客戶也正在關注人工智慧。

The Asana Work Graph is the scaffolding that, combined with AI, makes work even more effective.

Asana Work Graph 是一個支架，與 AI 結合可以使工作變得更有效率。

As a result, our AI roadmap is a top request for executive briefings.

因此，我們的 AI 路線圖是高階主管簡報的首要要求。

We are well positioned to be the solution for many of the questions that are pervasive in this early stage of AI adoption.

我們有能力解決人工智慧應用初期普遍存在的許多問題。

We’ve started to roll out our new AI workflow capabilities to a select group of customers who are reinventing how they work today, and the early feedback has been nothing short of jaw-dropping.

我們已經開始向一組正在重塑目前運作方式的特定客戶推出我們的新 AI 工作流程功能，早期的回饋令人震驚。

In fact, the last few weeks, I’ve been meeting with customers in Tokyo, New York, and across EMEA; and their response has been amazing.

事實上，過去幾週我一直在與東京、紐約以及整個歐洲、中東和非洲地區的客戶會面；他們的反應非常驚人。

They see massive potential for these AI teammates to drive productivity, fuel innovation, and deliver better results.

他們看到了這些人工智慧隊友在提高生產力、推動創新和提供更好結果方面的巨大潛力。

As one customer said, Asana's AI capabilities have the potential to help us realize our vision of becoming an AI-powered workforce.

正如一位客戶所說，Asana 的 AI 功能有潛力幫助我們實現成為 AI 驅動勞動力的願景。

Now, let’s transition to our Q1 performance.

現在，讓我們轉到第一季的表現。

We had a solid finish to the quarter despite ongoing budget scrutiny and other headwinds.

儘管面臨持續的預算審查和其他不利因素，我們仍然順利完成了本季的業績。

Today, we believe that we have better predictability in our business, a strengthening pipeline, and we are starting the year better positioned to serve our customers throughout the entire customer life cycle, enhancing our ability to partner and grow together.

今天，我們相信我們的業務具有更好的可預測性，管道更加健全，並且我們在新的一年裡能夠更好地為整個客戶生命週期內的客戶提供服務，增強我們合作和共同成長的能力。

By geography, EMEA and Japan led revenue growth, and overall international revenues grew 14.5% year over year.

從地理來看，歐洲、中東和非洲地區以及日本引領營收成長，整體國際營收年增 14.5%。

The EMEA team continues to execute well with strong leadership and a more seasoned sales team.

在強大的領導力和更經驗豐富的銷售團隊的帶領下，EMEA 團隊繼續表現良好。

This is a great leading indicator for North America, where the step-up in leadership happened about one year later.

對於北美來說，這是一個很好的領先指標，北美的領導地位大約在一年後就提升了。

As we mentioned previously, we expect dollar-based net retention to bottom in Q2, at or slightly below 100% for the overall number, and stabilize starting in Q3.

正如我們之前提到的，我們預計基於美元的淨留存率將在第二季觸底，整體數字將達到或略低於 100%，並從第三季開始趨於穩定。

Specifically, there are still some seat adjustments that we need to lap, especially in the US.

具體來說，我們還需要對一些座椅進行調整，尤其是在美國。

As Dustin mentioned on a previous call, in order to get to re-acceleration, you need to first go through stabilization.

正如達斯汀在之前的電話中提到的那樣，為了重新加速，您需要先進行穩定。

The good news is that we are seeing good signs with stability across new bookings and our average contract values.

好消息是，我們看到了新訂單和平均合約價值趨於穩定的良好跡象。

We believe we are well poised for re-acceleration in the second half of the year.

我們相信，我們已為今年下半年的再次加速做好了準備。

Now, turning to customer dynamics in Q1, our enterprise customers continued to expand.

現在，回顧第一季的客戶動態，我們的企業客戶繼續擴大。

They are making long-term investments in Asana, and this is reflected in multi-year deals and consolidation decisions.

他們對 Asana 進行長期投資，這反映在多年期交易和合併決策中。

We closed deals in key verticals, such as manufacturing, retail, and professional services, and are even seeing tech companies expand.

我們在製造業、零售業和專業服務等關鍵垂直領域完成了交易，甚至看到科技公司正在擴張。

We had several deals across the manufacturing sector.

我們在製造業領域有幾筆交易。

Suzuki, a leading Japanese manufacturer, expanded its use of Asana this quarter to drive further operational efficiency and digital transformation.

日本領先製造商鈴木本季擴大了對 Asana 的使用，以進一步提高營運效率和數位轉型。

It was initially adopted by the IT team and later deployed to the overseas automotive sales department for remote work during COVID-19.

它最初由IT團隊採用，後來在COVID-19期間部署到海外汽車銷售部門進行遠端工作。

Asana is now used by over a thousand employees across sales, IT, legal, and engine design to manage their work and strategic projects.

目前，銷售、IT、法律和引擎設計領域的一千多名員工使用 Asana 來管理他們的工作和策略專案。

And they’re seeing great results.

他們看到了顯著的成果。

For example, one team has already reduced overtime hours by 35%.

例如，一個團隊已經將加班時間減少了35%。

Also, one of the largest digital communications companies in the world expanded their use of our enterprise solution this quarter in their go-to-market operations division to manage the global transformation of their salesforce in preparation for AI.

此外，全球最大的數位通訊公司之一本季在其行銷營運部門擴大了我們企業解決方案的使用，以管理其銷售團隊的全球轉型，為人工智慧做好準備。

Our reporting capabilities were a key differentiator that led to this deal and will give leaders visibility into progress towards their go-to-market transformation goals.

我們的報告能力是促成這筆交易的關鍵差異因素，並將使領導者了解其市場進入轉型目標的進展。

And we continued to see ongoing success in the retail and CPG space.

我們繼續看到零售和快速消費品領域取得持續成功。

A premium footwear brand renowned for their cutting-edge technology went wall to wall and uptiered to our enterprise solution.

以其尖端技術而聞名的高端鞋類品牌全面進軍我們的企業解決方案。

One of my favorite examples of how they rely on our platform is to manage new store openings, pop-up stores, and workplace projects with more than 10 other departments.

他們依賴我們平台的最喜歡的例子之一是與其他 10 多個部門一起管理新店開業、快閃店和工作場所項目。

We are also making progress in financial services.

我們在金融服務方面也正在取得進展。

Notably, Sumitomo Mitsui Trust Bank, the Japanese financial services firm with thousands of employees, expanded with us this quarter.

值得注意的是，擁有數千名員工的日本金融服務公司三井住友信託銀行本季與我們一起擴張。

Finally, one of the leading tourism and economic development organizations in EMEA, expanded their use of Asana this quarter to manage strategic projects aligned to their goal to double the size of their economy within the next 10 years.

最後，歐洲、中東和非洲地區領先的旅遊和經濟發展組織之一本季度擴大了對 Asana 的使用，以管理符合其未來 10 年內將經濟規模翻一番的目標的戰略項目。

We believe that digital transformation is just the first step in the AI transformation opportunity, and we believe we are the leader in AI collaborative work management.

我們相信數位轉型只是AI轉型機會的第一步，我們相信我們是AI協同工作管理的領導者。

And we have more work to do.

我們還有更多的工作要做。

Throughout this year, we are focusing on a number of initiatives to further strengthen our execution.

今年，我們將聚焦在多項舉措，進一步加強執行力。

First, we continue to hire quota-carrying sales reps as we see the opportunities grow and accelerate with AI.

首先，隨著我們看到人工智慧帶來的機會不斷增長和加速，我們將繼續聘用承擔配額的銷售代表。

Second, we remain steadfast on accelerating our pipeline and enhancing the efficiency of our outbound prospecting.

第二，我們將持續堅定不移地加速拓展管道，提高對外勘探的效率。

We're not just aiming to increase the pace at which we operate, but also to deepen our engagement with our customers.

我們的目標不僅是加快營運速度，也是為了加深與客戶的互動。

Third, leveraging AI internally.

第三，對內發揮人工智慧的作用。

We are improving the seller experience and efficiency by leveraging AI.

我們正在利用人工智慧來提高賣家的體驗和效率。

For example, we are using our own Asana AI for outbound workflows such as customizing customer outreach.

例如，我們正在使用自己的 Asana AI 進行外向工作流程，例如客製化客戶拓展。

In summary, our strategy is designed to drive ARR growth, improve efficiency, and build stronger relationships with our customers.

總之，我們的策略旨在推動 ARR 成長、提高效率並與客戶建立更牢固的關係。

And with AI joining the team, we can deliver even greater value to our customers.

隨著人工智慧加入團隊，我們可以為客戶提供更大的價值。

We're excited about the path ahead and confident in our ability to execute on these initiatives.

我們對未來的道路感到興奮，並對我們執行這些措施的能力充滿信心。

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

說完這些，我就把麥克風交給提姆。

Thank you Anne.

謝謝你，安妮。

Q1 revenues came in at $172.4 million, up 13% year over year.

第一季營收為 1.724 億美元，年增 13%。

We have 22,162 core customers or customers spending $5,000 or more on an annualized basis.

我們擁有 22,162 名核心客戶或年消費金額達 5,000 美元或以上的客戶。

Revenue from core customers grew 15% year over year.

來自核心客戶的營收年增15%。

This cohort represented 74% of our revenues in Q1, up from 73% in the year-ago quarter.

這群人占我們第一季營收的 74%，高於去年同期的 73%。

We have 607 customers spending $100,000 or more on an annualized basis, and this customer cohort grew at 19% year over year.

我們有 607 位客戶，每年消費金額達 100,000 美元或以上，這個客戶群較去年同期成長了 19%。

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

提醒一下，我們根據特定季度的年度 GAAP 收入來定義這些客戶群。

I want to give you some color on our $100,000 customer progress since customer count based on GAAP revenues is a lagging indicator and does not capture the progress we have made.

我想向您介紹我們在 100,000 美元客戶方面的進展，因為基於 GAAP 收入的客戶數量是一個滯後指標，並不能反映我們所取得的進展。

On an ARR basis, we added over 30 $100,000 customers in Q1 vs over 20 in the year-ago quarter.

從 ARR 角度來看，我們第一季增加了 30 多名 10 萬美元客戶，而去年同期增加了 20 多名。

Our overall dollar-based net retention rate was 100%.

我們的整體美元淨留存率為 100%。

Our dollar-based net retention rate for our core customers was 102%.

我們核心客戶的美元淨留存率為 102%。

And among customers spending $100,000 or more, our dollar-based net retention rate was 108%.

對於消費金額為 100,000 美元或以上的客戶，我們的美元淨留存率為 108%。

As a reminder, our dollar-based net retention rate is a trailing four-quarter average calculation, and thus, a lagging indicator.

提醒一下，我們基於美元的淨留存率是過去四個季度的平均計算結果，因此是一個落後指標。

We continue to see stable logo churn rates overall and low churn in our largest accounts.

我們繼續看到整體的標誌流失率保持穩定，且最大帳戶的流失率較低。

I’ll speak specifically to our outlook regarding this in a moment.

稍後我將具體談談我們對此的看法。

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.

當我談到費用項目和獲利能力時，我想指出，我將在我的演講中討論非公認會計準則的結果。

Gross margins came in at 89.8%.

毛利率達89.8%。

Research and development was $55 million, or 32% of revenue.

研發支出為 5,500 萬美元，佔營收的 32%。

Sales and marketing was $88.6 million, or 51% of revenue.

銷售和行銷支出為 8,860 萬美元，佔收入的 51%。

G&A was $27.1 million, or 16% of revenue.

G&A 費用為 2,710 萬美元，佔收入的 16%。

Operating loss was $15.8 million, and our operating loss margin was 9%, representing a 5-percentage-point improvement versus a year ago.

營業虧損為 1,580 萬美元，營業虧損率為 9%，比一年前改善了 5 個百分點。

The improvement in our operating margin demonstrates our ability to take a balanced approach to growth and profitability.

我們的營業利潤率的提高表明我們有能力採取平衡的方法來實現成長和獲利。

Net loss was $13.3 million, and our net loss per share was $0.06 cents.

淨虧損為 1,330 萬美元，每股淨虧損為 0.06 美分。

Moving on to the balance sheet and cash flow.

繼續討論資產負債表和現金流。

Cash and marketable securities at the end of Q1 were approximately $524.3 million.

第一季末的現金和有價證券約為 5.243 億美元。

Our remaining performance obligations, or RPO, was $380.0 million, up 14% from the year-ago quarter. 86% of RPO will be recognized over the next twelve months.

我們的剩餘履約義務（RPO）為 3.8 億美元，比去年同期成長 14%。 86% 的 RPO 將在未來十二個月內得到認可。

That current portion of RPO grew 15% from the year-ago quarter.

RPO 的當前部分比去年同期增長了 15%。

Our total ending Q1 deferred revenue was $297.1 million, up 13% year over year.

我們第一季末的遞延收入總額為 2.971 億美元，年增 13%。

Q1 free cash flow was negative $4.3 million or negative 2% on a margin basis, an improvement from negative 11% from the year ago quarter.

第一季自由現金流為負 430 萬美元，以利潤率計算為負 2%，較去年同期的負 11% 有所改善。

Moving to guidance for Q2 fiscal 2025, we expect revenues of $177 million to $178 million, representing growth of 9% to 10% year over year.

對於 2025 財年第二季的預期，我們預計營收為 1.77 億美元至 1.78 億美元，年增 9% 至 10%。

We expect non-GAAP loss from operations of $23.0 million to $21.0 million, representing an operating margin of negative 12% at the midpoint of guidance.

我們預期非公認會計準則下的營業虧損為 2,300 萬美元至 2,100 萬美元，相當於指引中位數的營業利潤率為負 12%。

And we expect net loss per share of $0.09 cents to $0.08 cents assuming basic and diluted weighted average shares outstanding of approximately 230 million.

假設基本和稀釋加權平均流通股約 2.3 億股，我們預期每股淨虧損為 0.09 美分至 0.08 美分。

For the full fiscal year 2025, we expect revenue to be in a range of $719 million to $724 million, representing a growth rate of 10% to 11% year over year.

在整個 2025 財年，我們預計營收將在 7.19 億美元至 7.24 億美元之間，年成長率達到 10% 至 11%。

We expect Non-GAAP loss from operations of $59.0 million to $55.0 million, representing an operating margin of negative 8% at the midpoint of guidance.

我們預期非公認會計準則下的營業虧損為 5,900 萬美元至 5,500 萬美元，相當於指引中位數的營業利潤率為負 8%。

We expect to be free cash flow positive for the full year.

我們預計全年自由現金流將為正值。

And we expect net loss per share of $0.21 to $0.19 assuming basic and diluted weighted average shares outstanding of approximately 231 million.

假設基本和稀釋加權平均流通股數約為 2.31 億股，我們預期每股淨虧損為 0.21 美元至 0.19 美元。

As you can see from our guidance and commentary, we are clearly seeing early signs of stability and are well poised for moderate acceleration in the second half.

正如您從我們的指導和評論中看到的，我們清楚地看到了穩定的早期跡象，並為下半年的適度加速做好了準備。

Based on some of the early signs in the business and positive feedback from strategic customers, we are front-loading our investments this year to capture the AI opportunity, as reflected in our Q2 operating income guidance.

根據業務中的一些早期跡象和策略客戶的正面回饋，我們今年正在加大投資以抓住人工智慧機遇，這反映在我們的第二季營業收入指引中。

That said, we are still maintaining our full-year operating income guidance and also expect to be free cash flow positive for the full year.

儘管如此，我們仍然維持全年營業收入指引，並且預計全年自由現金流將為正值。

As you heard from Dustin, we are excited about the opportunity ahead and believe that AI will dramatically alter the software landscape.

正如達斯汀所說，我們對未來的機會感到興奮，並相信人工智慧將極大地改變軟體格局。

Asana is in a strong position to deliver a tremendous amount of value for our customers because of the Asana Work Graph.

透過 Asana Work Graph，Asana 能夠為我們的客戶提供巨大的價值。

And looking further ahead, adding revenue streams in the form of license based add-ons and consumption-based revenue will align with where the market is heading.

展望未來，以基於許可的附加組件和基於消費的收入形式增加收入來源將與市場的發展方向保持一致。

Any AI consumption-based or add-on revenue has not been factored into our FY25 guidance.

任何基於 AI 消費或附加的收入均未計入我們的 FY25 指引。

And to the degree that we have any, it will likely be immaterial this fiscal year.

即使我們有任何進展，在本財政年度也可能無關緊要。

We will continue to iterate and work with our customers to roll out these features over time and share more with you over the coming months and future earnings calls.

我們將繼續迭代並與我們的客戶合作，逐步推出這些功能，並在未來幾個月和未來的財報電話會議上與您分享更多資訊。

With that, operator, we are ready for Q&A.

接線員，現在我們可以進行問答了。

(Operator Instructions) Rob Oliver, Baird.

（操作員指令） Rob Oliver，Baird。

Great.

偉大的。

Good afternoon.

午安.

Thank you very much for taking my questions.

非常感謝您回答我的問題。

Dustin, I have a question for you.

達斯汀，我有一個問題想問你。

Really appreciate your perspective on this incredible moment we're in here with generative AI.

非常感謝您對我們目前所處的生成式人工智慧的不可思議的時刻的看法。

The potential paradigm shift that you laid out sort of away from traditional siloed applications software categories is extremely interesting.

您所列出的脫離傳統孤立應用軟體類別的潛在範式轉移非常有趣。

And I'd love to hear a little bit more on that and whether you're hearing that today or any indications of usage trending that way from some of the most sophisticated Asana customers that are the thought leaders on the Asana platform?

我很想聽到更多關於這方面的信息，以及您是否今天聽說過這個消息，或者是否有跡象表明一些最成熟的 Asana 客戶（他們是 Asana 平台的思想領袖）有這種使用趨勢？

And then I had a follow-up for Anne.

然後我對安妮進行了跟進。

Yeah.

是的。

I'm trying to connect the question to the words I used.

我試圖將問題與我使用的詞語聯繫起來。

I may have miscondated a little bit.

我可能有點誤會了。

But what I think is true is that the way that these workflows happen will change quite dramatically.

但我認為，這些工作流程的發生方式將會發生巨大的變化。

And I think as a result, which orders exist between which categories will change as well.

我認為，其結果是，哪些類別之間存在的哪些順序也會改變。

So for example, a lot of ITSM right now is oriented around large numbers of humans taking tickets and figuring out how to respond to them.

舉例來說，目前許多 ITSM 都是圍繞著大量人員接收票證並找出如何對其作出回應而展開的。

And if we move to a world where the vast majority of responses are fully automated and handled with the end user immediately, I think that will change the emphasis on where that software lives and where the value creation is.

如果我們進入絕大多數回應都完全自動化並立即由最終用戶處理的世界，我認為這將改變人們對軟體所在位置和價值創造地點的焦點。

In terms of what our customers are doing now -- so I was talking basically about the future of AI-driven workflows in Asana.

就我們的客戶現在所做的事情而言——所以我主要談論的是 Asana 中人工智慧驅動的工作流程的未來。

And I mentioned that we're also working in a closed beta with a few select customers, but it's still very early.

我提到過，我們也在與少數特定客戶進行封閉測試，但現在還為時過早。

I don't think anyone has replaced an entire category of software yet like that, but that's what I see coming in the future just because the potential is so dramatic.

我認為還沒有人能夠像這樣取代整個類別的軟體，但我認為這在未來是可行的，因為它的潛力是如此巨大。

But a lot of what we've learned as well is it's really hard to learn exactly how these things manifest until you're actually doing it.

但我們也學到了很多東西，那就是除非你真正去做，否則很難確切地了解這些事情是如何表現出來的。

So we put the new functionality in front of customers, and we might suggest a particular use case for it.

因此，我們將新功能呈現在客戶面前，並可能為其建議特定的用例。

But almost immediately, they're brainstorming. 10 or 20 others, literally, sometimes pulling in their colleagues and saying like, hey, can you imagine what you can do with this?

但幾乎​​立刻，他們就開始集思廣益。另外 10 到 20 個人，實際上，有時會拉著他們的同事說，嘿，你能想像用這個能做什麼嗎？

And I think there's going to be quite a lot of discovery and innovation there.

我認為那裡將會有大量的發現和創新。

And so part of the point I was making is I think that the -- where we've been recently, people view AI entirely by analogy.

所以我要說的觀點是，我認為──最近人們完全以類比的方式看待人工智慧。

It will be like the same workflow, but now it will be done in a partially automated way.

它將像相同的工作流程，但現在將以部分自動化的方式完成。

And I think that's an unnecessarily limited way of looking at the world.

我認為這是看待世界的一種不必要的限制。

That's helpful.

這很有幫助。

Thank you.

謝謝。

And then, Anne, my follow-up is for you.

然後，安妮，我的後續問題針對你。

Just I think coming up in our conversations and I assume others as well is just some of the, I guess, feeling of overwhelmed or confusion from some enterprise buyers relative to all of the different AI offerings that are out there and every application vendor coming with an AI offering.

我認為在我們的談話中，我想其他人也一樣，一些企業買家對市場上所有不同的人工智慧產品感到不知所措或困惑，而每個應用程式供應商都推出了一項人工智慧產品。

And I'd be curious.

我很好奇。

As you add go-to-market, continue to ramp up the enterprise playbook and build that muscle, what are some of the ways that you guys are getting in front of the right executives and differentiating your offering amongst a sea of other application vendors out there, touting their AI opportunity?

隨著你們加入進入市場的行列，繼續加強企業策略並增強實力，你們是如何在眾多其他應用程式供應商中脫穎而出，吸引合適的高階主管的？

And that -- I guess that question would be particularly germane to customers that might be new to Asana on the enterprise side.

而且—我想這個問題對於那些可能剛接觸 Asana 的企業客戶來說尤其有意義。

Thank you.

謝謝。

Yeah.

是的。

Thanks, Rob.

謝謝，羅布。

That's a great question because there are -- there is a lot out.

這是一個很好的問題，因為有很多問題。

And I think everybody, as you said, is hunting AI.

我認為，正如你所說，每個人都在追捕人工智慧。

I think the things that are helping us differentiate is -- really, we've been doing a lot on ensuring that we are bringing a strategy to, especially, CIOs.

我認為幫助我們脫穎而出的是——事實上，我們一直在做大量工作，確保我們為 CIO 制定策略。

Our work innovation lab published original research on the topics facing CIOs today, including AI.

我們的工作創新實驗室發表了有關當今 CIO 面臨的主題（包括人工智慧）的原創研究。

And 77% of IT leaders are saying they are the ones responsible for AI.

77% 的 IT 領導者表示他們是 AI 的責任人。

So part of our approach is bringing both this original research's unique approach to AI and then showing CIOs what's possible.

因此，我們的方法之一是將這項原始研究的獨特方法應用於人工智慧，然後向 CIO 展示其可能性。

So we recently had our customer advisory board sessions with CIOs, both in Europe and in the US.

因此，我們最近與歐洲和美國的資訊長舉行了客戶諮詢委員會會議。

And just by showing what's already possible in Asana, as Dustin just said, it's really generating these ideas around what's already possible today and what will be possible tomorrow.

正如達斯汀剛才所說，透過展示 Asana 中已經可以實現的功能，它實際上圍繞著今天已經可以實現的功能和明天可以實現的功能產生了這些想法。

And so our focus on going upmarket and really reaching the C-level decision makers is also starting to pay off because many of them just want a trusted partner to lay out a strategy together on how to approach AI.

因此，我們專注於走向高端市場並真正接觸 C 級決策者，這也開始獲得回報，因為他們中的許多人只是想要一個值得信賴的合作夥伴來共同製定如何處理 AI 的策略。

And so they are excited about also just our security and safety and how we've built AI into Asana.

因此，他們也對我們的安全性以及我們如何將 AI 融入 Asana 感到興奮。

So that's what, I think, we're the most excited about in these conversations is just the executive-level engagement and then their eyes lighting up when they're seeing what they can already do in Asana.

所以，我認為，在這些對話中，我們最興奮的是高階主管級別的參與，當他們看到他們已經可以在 Asana 中做的事情時，他們的眼睛亮了起來。

And as Dustin said, it just generates 10 to 20 more ideas.

正如達斯汀所說，它會產生 10 到 20 個想法。

And so these pilots that we're running are really critical for us to be able to show them the value so quickly, and we're excited to share more about what's happening there.

因此，我們正在進行的這些試點對於我們能夠如此迅速地向他們展示價值至關重要，我們很高興分享更多有關那裡發生的事情。

So that's going to come at the Work Innovation Summit both in San Francisco next week and then in the fall in New York in October.

因此，這項活動將於下週在舊金山舉行的工作創新高峰會以及十月在紐約舉行的秋季工作創新高峰會上舉行。

George Iwanyc, Oppenheimer.

奧本海默的喬治‧伊凡尼克 (George Iwanyc)。

Thank you for taking my question.

感謝您回答我的問題。

Dustin, staying on the AI topic, digging into your comments with respect to the discovery and innovation process.

達斯汀，繼續討論人工智慧主題，深入探討你對發現和創新過程的評論。

Can you maybe tie into how you're using the AI internally to how you're adjusting both the product road map and the go-to-market road map on the enterprise side?

您能否將內部使用人工智慧的方式與您在企業方面調整產品路線圖和市場進入路線圖的方式連結起來？

Sure.

當然。

I always struggle a little bit with these questions because AI for us is really more than one thing.

我總是對這些問題感到有些困惑，因為對我們來說，人工智慧確實不只一件事。

There are a number of features that we have in product already and have been part of our road map and we talked about at last year's Work Innovation Summit and have been delivering.

我們的產品中已經有許多功能，這些功能已成為我們路線圖的一部分，我們在去年的工作創新高峰會上進行了討論，並且一直在交付。

And so a lot of that lives next to functionality that we use day in and day out, so things like smart summaries or being able to use smart answers to ask questions of the current project that you're looking at.

其中許多都與我們日復一日使用的功能息息相關，例如智慧摘要或能夠使用智慧答案來詢問您正在查看的當前專案的問題。

And so that just ends up being part of our normal workflow and part of customer workflows as well.

所以這最終成為我們正常工作流程的一部分，也是客戶工作流程的一部分。

The part that I was speaking to that feels a little bit newer are these custom AI workflows.

我談到的、感覺比較新的部分是這些自訂的 AI 工作流程。

And in a lot of ways, it is a continuation of the road map we've been working on for 10 years.

從很多方面來看，它是我們十年來一直致力於制定的路線圖的延續。

It's been magical for me actually to feel like the language models are just like this missing keystone in our existing workflow builder.

對我來說，真正感覺到語言模型就像我們現有工作流程建構器中缺少的基石一樣，這真是太神奇了。

Because we already have integrations to a lot of the other tools that enterprises are using.

因為我們已經與企業正在使用的許多其他工具進行了整合。

We already have the sort of RPA style workflow automation.

我們已經有了某種 RPA 風格的工作流程自動化。

We already have a very powerful templating engine.

我們已經有一個非常強大的模板引擎。

And now, we have this additional ability to take some of the steps and actually do part of the work, what we refer to as actually assigning work to an AI teammate.

現在，我們有了額外的能力，可以採取一些步驟並實際完成部分工作，我們稱之為將工作實際分配給 AI 隊友。

And so that is a really important development and opens up a lot of possibilities for us.

這是一個非常重要的發展，為我們開啟了許多可能性。

But it's not actually this giant new effort on our road map because it's really combining with all these other building blocks we have.

但它實際上並不是我們路線圖上的一項巨大新努力，因為它實際上與我們擁有的所有其他基石結合在一起。

And in terms of how we're using it internally, we're basically taking a lot of our existing workflows that have partial automation or partially templated, and we're taking individual steps and turning them into LM workflows.

就我們內部的使用方式而言，我們基本上採用了許多現有的部分自動化或部分的模板化工作流程，然後採取單獨的步驟並將其轉變為 LM 工作流程。

And so that is working really well because in a lot of cases, frankly, we had [by capped] around it.

所以這種方法確實很有效，因為坦白說，在很多情況下，我們已經對其進行了限制。

We had API-driven scripts that we were running in the background to move things along in various parts of the product.

我們有 API 驅動的腳本，在後台運行以推動產品各個部分的進展。

And now, we can just do it all inside Asana, inside our UI, entirely with user built workflows that doesn't require IT to come in and do it.

現在，我們可以在 Asana 內部、在我們的 UI 中完成所有操作，完全使用使用者建立的工作流程，無需 IT 人員介入。

And so a lot of what's happening is we're spreading the knowledge internally about how to do that and how to think about in the context of the work you're already doing.

所以，我們正在發生的很多事情是，在內部傳播關於如何做到這一點以及如何在你正在做的工作背景下思考的知識。

And to follow on to the question that Anne answered earlier, I think our advantage is exactly that.

接下來是安妮之前回答的問題，我認為我們的優勢就是如此。

Maybe not with brand-new customers to Asana; but for our existing enterprise deployments, we're not saying, hey, do something completely new in Asana.

對於 Asana 的新客戶來說可能並非如此；但對於我們現有的企業部署，我們不會說，嘿，在 Asana 中做一些全新的事情。

We're saying, take your existing workflows, we'll make them better.

我們的意思是，採用您現有的工作流程，我們會讓它們變得更好。

We'll take steps that your team is currently doing and not necessarily take it all the way from start to finish.

我們將採取您的團隊目前正在採取的步驟，但不一定從頭到尾全部採取。

I think the best AI results are really a collaboration between the AI and humans, but we can give you a really first draft or we can give you many drafts or we can give you a bunch of translations into a bunch of different languages or into a bunch of different user personas.

我認為最好的人工智慧成果實際上是人工智慧和人類之間的合作，但我們可以給你一個真正的初稿，或者我們可以給你很多稿子，或者我們可以給你一堆翻譯成各種不同語言的翻譯，或是一群不同的使用者角色。

And that can just really accelerate things and help people think bigger and deliver higher-quality results.

這確實可以加速進程，幫助人們更廣闊的思考，並提供更高品質的結果。

So that's a lot of what I'm seeing now.

這就是我現在看到的很多情況。

But I'm not trying to describe the radical shift in our strategy.

但我並不是想描述我們策略的根本轉變。

I really see it as an opportunity to capitalize on something we've been working on for a long time.

我確實認為這是一個利用我們長期致力於的事情的機會。

Thank you.

謝謝。

And then Anne, as a follow-up, digging into your number two priority with accelerating the pipeline.

然後，安妮，作為後續問題，深入探討你的第二個優先事項，即加速管道。

Can you parse that out with what you're seeing on the enterprise side versus the SMB side?

您能否根據企業端和 SMB 端的情況來分析一下這一點？

Yeah, definitely.

是的，確實。

So on pipeline, pipeline grew year over year.

因此，就管道而言，管道逐年增長。

And we've been consistently hitting or exceeding internal targets, both inbound and outbound, in every region and across every pipeline source.

而且，我們在每個地區和每個通路源中都持續達到或超過內部目標，包括入站和出站目標。

So our -- really bullish about seeing that -- those results.

所以我們非常樂觀地看到這些結果。

And it's really a strong partnership between our sales and marketing teams.

我們的銷售和行銷團隊之間確實建立了牢固的合作關係。

I mentioned just the focus on our work innovation lab's original research, but that's also combined with the executive events we've been running with the Work Innovation Summits around the world and then our executive briefings through our work innovation center.

我剛才提到了我們對工作創新實驗室原創研究的關注，但這也與我們在世界各地舉辦的工作創新高峰會等高階主管活動以及透過我們的工作創新中心進行的高階主管簡報相結合。

So it's all coming together to enable us to reach C-level decision-makers, and that's been incredibly helpful in terms of building that enterprise pipeline.

所以，所有這些結合在一起使我們能夠接觸到 C 級決策者，這對於建立企業管道非常有幫助。

We also, in Q1, saw strength in our SMB segment.

在第一季度，我們也看到了中小企業部門的強勁表現。

So we saw double-digit year-over-year growth in [AR] there as well as improvement in our negative rate.

因此，我們看到[AR]實現了兩位數的年成長，同時負利率也有所改善。

We saw strength in SMB customer acquisition as well as in our sales-assisted SMB motion.

我們在中小企業客戶獲取以及銷售協助中小企業行動方面看到了優勢。

So we're also pleased to see that.

所以我們也很高興看到這一點。

While our focus absolutely has been continuing to grow upmarket in enterprise, the stability and improvement in the lower end of the market is also an early positive signal for our business as well.

雖然我們的重點一直是繼續在企業高端市場發展，但低端市場的穩定和改善對我們的業務來說也是一個早期的正面訊號。

Brent Bracelin, Piper Sandler.

布倫特·布雷斯林，派珀·桑德勒。

Thank you.

謝謝。

Good afternoon.

午安.

Tim, maybe we'll start with you.

提姆，也許我們可以從你開始。

Obviously, growth has been a challenge to you for the last couple of years.

顯然，在過去幾年裡，成長對您來說一直是一個挑戰。

You talked about actually seeing some expansion -- seat expansion within tech, demand stabilization.

您談到實際上看到了一些擴張——技術領域的席位擴張、需求穩定。

Walk us through what you're seeing maybe by industry segment.

請向我們介紹一下您所看到的各個行業的情況。

Do you think the worst of the headwinds in that tech vertical that I know has been a big vertical for you are now behind you?

我所知道的對你來說最大的技術垂直領域阻力現在已經過去了嗎？

Any color there by vertical certainly would be helpful, and then I have one quick follow-up.

任何垂直的顏色肯定會有幫助，然後我有一個快速的後續行動。

Yeah.

是的。

I would say when we look at our net expansion rate, the thing that we're starting to see overall across all the segments are now, things have started to stabilize.

我想說，當我們查看我們的淨擴張率時，我們開始看到所有細分市場的整體情況已經開始穩定下來。

And what was really driving the initial drop in our gross renewals and net expansion rate was primarily driven by a lot of the layoffs related to tech.

而真正導致我們的總續約量和淨擴張率最初下降的原因主要是由於大量與技術相關的裁員。

And I think what we're seeing just from a early Q2 standpoint and even the Q1 results, things have started to stabilize.

我認為，從第二季初期甚至第一季的結果來看，情況已經開始穩定。

So I think we're really encouraged by that.

所以我認為我們確實對此感到鼓舞。

The other thing I would point to is the pipeline comment that Anne made, the fact that we -- the pipeline grew year over year.

我想指出的另一件事是安妮對管道的評論，事實上我們——管道逐年增長。

And it's not just coming from tech.

而且這不僅來自於科技。

It's really coming from across a number of different industries.

它確實來自許多不同的行業。

And I think work management is continuing to grow as a category.

我認為工作管理作為一個類別正在持續成長。

So I think it's really that combination.

所以我認為確實是這樣的組合。

Helpful color.

有用的顏色。

And Dustin, for you.

還有達斯汀，送給你。

This concept that AI is going to live inside of these project management planning tools, assigning work to humans and AI assistants, certainly sounds intriguing.

人工智慧將融入這些專案管理規劃工具，將工作分配給人類和人工智慧助手，這個概念聽起來確實很有趣。

But we've kind of been waiting for AI to show up at the application layer for a while.

但我們已經等待人工智慧出現在應用層有一段時間了。

Even Microsoft -- I think 95% AI revenue at Microsoft is still on the Azure infrastructure-as-a-service side, seeing very little adoption of AI in the app layer.

即使是微軟——我認為微軟 95% 的人工智慧收入仍然來自 Azure 基礎設施即服務方面，在應用層採用人工智慧的很少。

What's your best guess on when we'll start to see more meaningful adoption of AI in the Asana application layer?

您認為我們何時會開始看到 Asana 應用層更有意義地採用 AI？

Do you think this is going to be a groundswell of interest a year from now?

您認為一年後這會引起人們的極大興趣嗎？

Is it two years out?

已經兩年了嗎？

What's your best guess on how this is implemented?

您對於這一實現方式的最佳猜測是什麼？

I know AI is not one thing.

我知道人工智慧並不是一回事。

But as you think about a more meaningful adoption within the installed base, how long do you think it's going to take?

但是，當您考慮在安裝基礎中更有意義的採用時，您認為這需要多長時間？

Thanks.

謝謝。

Yes.

是的。

So that's a big sweeping question, so I'll give you a big sweeping answer.

這是一個很籠統的問題，所以我給你一個很籠統的答案。

To your point, it's not one thing.

就您所說的而言，這不是一件事。

I mean, we have quite a lot of usage over existing AI functionality already.

我的意思是，我們已經對現有的 AI 功能有了相當多的使用。

That said, we packaged it only in our new packages, so it's not available to all customers.

也就是說，我們僅將其打包在我們的新包裝中，因此並非所有客戶都可以使用。

And there are some subset of customers that aren't really use AI at all.

還有一些客戶其實根本不使用人工智慧。

And they just like haven't gotten to that place in their corporate security posture.

但他們的企業安全態勢似乎還沒有達到那個程度。

It's not that they're using other products, they're just not using anything.

這並不是說他們使用其他產品，而是他們什麼都沒使用。

And so there is still somewhat of a Jeffrey Moore style adoption curve here, and I think we're still in the early adopter part of it.

因此，這裡仍然存在某種 Jeffrey Moore 風格的採用曲線，我認為我們仍然處於早期採用者階段。

Part of the reason I'm excited about the add-ons that we're talking about for AI and the consumption-based model is I think it will allow us to match that reality and focus on just the early adopters and giving them a great experience and letting them lean in.

我對我們談論的人工智慧附加元件和基於消費的模型感到興奮的部分原因是，我認為這將使我們能夠適應這一現實，並專注於早期採用者，並為他們提供良好的經驗並讓他們傾力投入。

And that's something -- so I'm involved with Anthropic a lot, and we share a Board member with OpenAI.

這就是意義所在——我經常參與 Anthropic 的工作，我們與 OpenAI 共享一位董事會成員。

And I talked to the labs.

我還和實驗室進行了交談。

And that's what I see on their side as well is there's a few customers that are generating a lot of activity and figuring it out and figuring out what else they can do in their business.

而從我的角度來看，他們也看到一些客戶正在進行大量的活動，他們正在弄清楚在自己的業務中還能做些什麼。

And I think with custom AI workflows, we're going to focus on that and then we'll be able to tell that story and tell about the transformative impact it's having and use that to get the next set.

我認為，透過客製化的 AI 工作流程，我們將專注於這一點，然後我們將能夠講述這個故事，講述它所產生的變革性影響，並利用它來獲得下一組影響。

Additionally, just in terms of adoption overall, an observation I have is that the places where people agree there's been real AI creation already are where it's integrated very closely into existing workflows.

此外，就整體採用而言，我的觀察是，人們一致認為已經出現了真正的人工智慧創造，而人工智慧已經與現有工作流程緊密結合。

So I think the two best examples are GitHub Copilot for development and then also various kinds of support ticketing.

所以我認為最好的兩個例子是用於開發的 GitHub Copilot 以及各種支援票務。

And I don't think it's a coincidence there.

我不認為這是巧合。

I think what they share is that they're not asking these broad employee bases to learn prompt engineering, to learn how to engage with these chat apps, and importantly, to like learn how repeat a workflow with these chatbots.

我認為他們共同點在於，他們並沒有要求廣大員工學習提示工程，學習如何使用這些聊天應用程序，更重要的是，學習如何使用這些聊天機器人重複工作流程。

Because even when you have something like custom GPTs, you still end up having to do this iterative -- okay, I'm giving you the documents we care about.

因為即使你有類似自訂 GPT 的東西，你最終仍然必須進行這種迭代——好的，我會給你我們關心的文件。

I'm giving you the prompts.

我正在給你提示。

We're taking the first step.

我們正在踏出第一步。

Now, we're taking the second step.

現在，我們邁出第二步。

It's just really high friction and onerous.

這確實會產生很大的摩擦並且很繁重。

And it's a hard habit to start and a hard habit to break.

這是一個很難養成的習慣，也是一個很難改掉的習慣。

Whereas with the existing functionality we have, where it's getting most adopted, it is just appearing in context of something you're already trying to do, like writing a status summary or you're in a task thread and a lot of activity has happened and you want to like summarize what's happened.

而我們現有的功能，在被廣泛採用的地方，只是出現在你正在嘗試做的事情的上下文中，比如寫狀態摘要，或者你正在一個任務線程中，並且已經發生了很多活動並且你想總結一下發生的事情。

And I'm really excited about -- I've talked in previous earnings calls about this idea of sort of push versus pull of AI.

我對此感到非常興奮——我在之前的財報電話會議上談到了人工智慧的推動與拉動這一想法。

We're increasingly getting to play where we're deciding to run the AI and just delivering you the content.

我們越來越多地參與由我們決定運行人工智慧並只向您提供內容的活動。

So that's showing up for project summaries, where now, we deliver them to your notification inbox into your e-mail.

這就是專案摘要，現在，我們將其發送到您的電子郵件通知收件匣中。

And so that is just like a different mental model for adoption.

所以這就像是採用一種不同的思考模式。

It's not that the end users have to decide this thing is giving me a ton of value.

這並不是說最終用戶必須決定這個東西是否為我帶來了巨大的價值。

And so now, I'm going to like change my habits and adopt this new tool and become a prompt engineer.

所以現在，我要改變我的習慣，採用這個新工具，成為一個敏捷的工程師。

It's that the application vendor, in this case Asana, is deciding how AI can amplify the value that you're getting.

應用程式供應商（在本例中為 Asana）正在決定 AI 如何放大您獲得的價值。

And for the functionality that we've deployed so far, that doesn't show up as a separate revenue line for us because we think all CWM products are going to have to do this.

對於我們迄今為止部署的功能，這不會成為我們的單獨收入來源，因為我們認為所有 CWM 產品都必須這樣做。

But it does amplify value of the product offerings and especially the differentiated product offerings like Smart Status that benefit from having the work connected to higher-level goals.

但它確實放大了產品的價值，尤其是像 Smart Status 這樣的差異化產品的價值，這些產品受益於將工作與更高層級的目標連結起來。

And so we're seeing more interest in choosing Asana and betting on it as a platform for the long run.

因此，我們看到越來越多的人對選擇 Asana 並將其作為長期平台感興趣。

And we're also seeing it drive more value appreciation in our up years.

我們也看到它在我們的上升期推動了更多的價值升值。

And I'm excited.

我很興奮。

One of the things we're doing at the Work Innovation Summit is we're talking about what I think of as upper pyramid of clarity AI value, so things that benefit more portfolios and goals.

我們在工作創新高峰會上所做的事情之一就是討論我所認為的清晰度 AI 價值的上層金字塔，即有益於更多投資組合和目標的事情。

And that's going to be a place where I think we're going to be much more differentiated from the rest of the market and have the ability to do something that other people can't.

我認為，在這個領域我們將與市場中的其他公司有更大的差異，並且有能力做到別人做不到的事。

That's when I think it will create more of a unique pricing opportunity, as we talked about.

正如我們所討論的，我認為那時它將創造更多獨特的定價機會。

Resource planning is a big one there.

資源規劃是一個大問題。

And yeah, so really excited to be able to deploy that to market.

是的，我真的很高興能夠將其推向市場。

So I think I would just recharacterize it a little bit as the early adopters are adopting now.

因此我認為我應該對它進行一些重新描述，就像早期採用者現在正在採用的那樣。

And because it's not just one thing they're adopting, you have to break it down into what's working well and what isn't.

而且由於他們採取的不只是一項措施，所以你必須將其分解為哪些措施效果好、哪些措施效果不好。

And yeah, there's the push versus pull concept as well.

是的，還有推與拉的概念。

So what does the user deciding to initiate?

那麼用戶決定啟動什麼呢？

What's the application deciding to initiate?

應用程式決定啟動什麼？

And so I think where you're going to see the most impressive adoption, it will be companies like Asana that are figuring out how to integrate it into existing workflows and existing applications rather than getting people to adopt an entirely new platform.

因此，我認為最令人印象深刻的採用將是像 Asana 這樣的公司，它們正在研究如何將其整合到現有的工作流程和現有的應用程式中，而不是讓人們採用一個全新的平台。

Jackson Ader, KeyBanc Capital Markets.

傑克遜·阿德（Jackson Ader），KeyBanc 資本市場。

Thanks for taking our question, guys.

謝謝你們回答我們的問題。

I guess the first one is actually following up on what I think is some really ambitious talking points from the company and from you, Dustin, about workflow automation across the enterprise and disparate applications and business functions and Asana working across those lines.

我想第一個問題實際上是在跟進我認為公司和您（達斯汀）提出的一些非常雄心勃勃的談話要點，這些要點涉及整個企業和不同的應用程序和業務功能的工作流程自動化，以及跨越這些界限的Asana 工作。

But I have a two-parter for that.

但我對此有兩個部分。

Number one, do you think that the core work management or collaboration tool, the core Asana, needs to reach some sort of critical mass within an enterprise for then the customer to grant your AI technology access to the systems of records that you will need in order to drive value for them?

第一，你是否認為核心工作管理或協作工具 Asana 需要在企業內達到某種臨界點，然後客戶才能授予你的 AI 技術存取記錄系統的權限，而這些記錄系統是你未來需要的？創造價值？

Sorry, just to clarify, by systems record, you mean other than Asana's system of record integrations?

抱歉，只是想澄清一下，您所說的系統記錄是指 Asana 的記錄系統整合之外的其他內容嗎？

Yeah.

是的。

Yeah, ERP, CRM, HR.

是的，ERP、CRM、HR。

So I think just like at the highest level, no, I don't think you need critical mass.

因此我認為，就像在最高層面上一樣，不，我認為你不需要臨界質量。

You need a team that is interested in that workflow.

您需要一個對該工作流程感興趣的團隊。

But there are a number of different ways to address like privacy or security concerns.

但有很多不同的方法可以解決隱私或安全問題。

Like, we don't necessarily need like cart launch access to a tool like that.

例如，我們不一定需要像購物車啟動那樣的工具。

We can do what we already do today with integrations, which is we're basically making a call out for a specific record and not services returning it to us.

我們可以透過整合來完成今天已經完成的工作，也就是說，我們基本上是在呼叫特定記錄，而不是服務將其傳回給我們。

I think there's -- the bigger friction there is just like how hard it is to set up an integration and necessarily, whether the customer thinks it's worth it or they've invested enough in Asana.

我認為，更大的摩擦在於建立整合有多難，以及客戶是否認為它值得或他們是否在 Asana 上投入了足夠的資金。

So I guess it just doesn't resonate as a problem we're facing.

所以我猜這不是我們所面臨的問題。

But also, I think there's quite a lot of work you can get done using just Asana as the system of record.

但同時，我認為僅使用 Asana 作為記錄系統就可以完成很多工作。

So most of the built-in functionality I've been talking about doesn't need access to an external tool because it's actually helping you with the collaborative work management part of things.

因此，我一直在談論的大多數內建功能不需要存取外部工具，因為它實際上是在幫助您完成協作工作管理部分。

And then additionally, when you're doing something like Anne talked about -- we've been implementing sales development outreach for Asana -- that requires access to like our market materials and like knowing how to speak Asana to customize the message.

此外，當你做像安妮談到的事情時——我們一直在為 Asana 實施銷售開發推廣——這需要訪問我們的市場材料，並知道如何使用 Asana 來定制信息。

But it doesn't really -- well, I guess we do still want to want to look at the customer information.

但事實並非如此——好吧，我想我們仍然想查看客戶資訊。

So it does a little bit, but those are our tools anyway.

所以它有一點作用，但無論如何，這些都是我們的工具。

And like, yeah, I guess I should just leave it where I started.

是的，我想我應該把它留在原處。

Like, I don't think that's a real problem we face.

就像，我不認為這是我們面臨的真正問題。

Yeah, that's fine.

嗯，很好。

Okay.

好的。

And then just a quick follow-up.

然後只是快速的跟進。

So if I think about the same, in addition to Asana, like those same systems of record, your CRM, ERP, they are also developing their AI tools or copilot threat or like -- and when I think of workflow automation tools, right, I think of a different software company who is also trying to get into AI and workflow automation across the enterprise.

所以，如果我考慮同樣的事情，除了Asana，像那些相同的記錄系統、您的CRM、ERP，他們也在開發他們的AI 工具或副駕駛威脅或類似的——當我想到工作流程自動化工具時，對吧，我想到另一家軟體公司也在嘗試進軍企業範圍內的人工智慧和工作流程自動化。

So I'm just curious.

所以我只是很好奇。

Like, why -- what is the big 10,000-foot reason why Asana would be better positioned than maybe some of those larger companies, those larger systems of record companies, in being an AI winner?

例如，為什麼——有什麼重大原因可以解釋為什麼 Asana 會比一些大公司、大型唱片公司係統更有能力成為 AI 贏家？

Well, the same reasons we always are.

嗯，我們的原因始終是一樣的。

I'm worried that something got projected onto what I said.

我擔心我說的話會被別人影響。

I don't think we're entering the CRM categories right now.

我認為我們現在還沒有進入 CRM 類別。

What I do think is going to happen is all of SaaS is going to be transformed.

我確實認為將要發生的是，所有 SaaS 都將發生轉變。

And so who is the dominant player in CRM couple of years from now?

那麼幾年後誰會成為 CRM 領域的主導者呢？

Maybe it's Asana or yeah, maybe it's another dedicated vendor that was agile in the right way and embraced the technologies.

也許是 Asana，或者是另一家以正確的方式敏捷並擁抱技術的專門供應商。

I do think we have a lot of advantages the existing advantages in terms of having connectivity through the layers of the work craft, in terms of supporting cross-functional work.

我確實認為，在跨工作流程層面的連結性、支援跨職能工作方面，我們擁有許多現有優勢。

And it continues to be the case that most valuable work is done cross-functionally.

而且大多數有價值的工作仍然是透過跨職能的方式完成的。

And so again, we are seeing in practice where customers want to develop and build with Asana.

因此，我們在實踐中再次看到客戶希望使用 Asana 進行開發和建構。

And it isn't necessarily CRM, I just think that that is a category that is going to be ripe for disruption.

它不一定是 CRM，我只是認為這是一個即將被顛覆的類別。

And I think that -- the thing I do see is you can get such dramatically different results when you rebuild the workflow using AI that your priority is about would you care about change.

我認為——我確實看到，當你使用人工智慧重建工作流程時，你可以獲得截然不同的結果，因此你的首要任務是考慮你是否關心變化。

And so if you're getting a dramatically better response rate and your business development reps have much higher productivity, then maybe the other things that you thought of was a requirement for that category fall by the wayside, and it's more about where you can successfully implement and adopt and get the results that you want.

因此，如果你的回應率大幅提高，業務開發代表的工作效率也大幅提高，那麼你認為的其他要求就可能被拋在一邊，而更重要的是，你能在哪裡成功實施、採用並獲得您想要的結果。

And there, I think Asana is just really well positioned to be early in the market and be able to not just address a single software category like that would be a solution that you can use across teams and for cross-functional work.

我認為 Asana 在市場早期就佔據了非常有利的位置，它不僅可以解決單一軟體類別的問題，還可以成為跨團隊、跨職能工作的解決方案。

Josh Baer, Morgan Stanley.

摩根士丹利的喬許貝爾 (Josh Baer)。

Great.

偉大的。

Thanks for the question, which is for Dustin.

謝謝你的提問，這個問題是問達斯汀的。

I wanted to come back to something that you mentioned earlier around open AI and Anthropic.

我想回到您之前提到的有關開放 AI 和 Anthropic 的話題。

Just wondering, how does your early involvement and your relationships and investments in those companies give Asana an advantage?

只是想知道，您早期的參與以及您與這些公司的關係和投資如何為 Asana 帶來優勢？

If you could just expand a little bit your involvement really informs your strategies at Asana.

如果您可以稍微擴展一下，您的參與確實會為您在 Asana 的策略提供資訊。

Yeah.

是的。

So I think one of the themes on this call has just been the amount of confusion there is in the market and how hard it is to decide where to commit and invest and make choices for the future.

所以我認為，這次電話會議的主題之一就是市場存在多大的混亂，以及決定在哪裡投入、在哪裡投資以及為未來做出選擇有多麼困難。

And so there's just a huge advantage in having direct communication with those teams, and we're mutual customers.

因此，與這些團隊直接溝通具有巨大的優勢，而且我們是共同的客戶。

And so as we do with our customers, they're sort of previewing the road map with us.

正如我們對待客戶一樣，他們正在與我們一起預覽路線圖。

They're giving us early access to tools.

他們為我們提供了使用工具的早期機會。

Sometimes, we get early access to the frontier models and get to beta test them.

有時，我們會提前接觸前沿模型並對其進行 Beta 測試。

And so that saves us a lot in terms of knowing where things are going to converge in the future, where we should invest in our platform versus maybe where we're going to get capability from the labs themselves.

這樣就讓我們節省了很多時間，因為我們知道未來事物將會融合到哪裡，我們應該在哪些方面投資我們的平台，以及我們應該從實驗室本身獲得哪些能力。

And maybe that will be better.

也許這樣會更好。

And also, we've learned a lot about what it means to work with multiple at once.

此外，我們也學習了很多有關同時與多人合作的知識。

And I think that's just been really helpful for us to be able to build in a way that allows us to switch between them and even, in some cases, use both in a single workflow.

我認為這對我們非常有幫助，因為我們可以在它們之間切換，甚至在某些情況下，在單一工作流程中同時使用它們。

And so a lot is just about being able to have that early access to a little bit of the future when everything is moving so quickly and developing so quickly and just having really high bandwidth communication with those teams.

所以，當一切都進展得如此之快、發展得如此之快時，很多事情都只是為了能夠儘早掌握未來，並與這些團隊保持真正高頻寬的溝通。

I think I probably know like 15 or 20 individual employees in the topic now.

我想我現在可能認識 15 到 20 名與這個主題相關的員工。

And yeah, and there's quite a lot of more connections here with the whole company.

是的，這裡與整個公司有很多聯繫。

So yeah, it's really just about having those close relationships and being here where all that activity is happening and being able to just stand a little taller and see a little further.

所以，是的，這真的只是關於擁有那些親密的關係，在這裡，在所有活動發生的地方，能夠站得更高，看得更遠。

Great.

偉大的。

Thanks very much.

非常感謝。

Michael Funk, Bank of America.

美國銀行的麥可‧芬克（Michael Funk）。

Yeah.

是的。

Thank you for the questions tonight.

感謝您今晚的提問。

So first one, higher level.

首先，是更高層次。

A number of software companies have talked about sequential enterprise, demand weakness this quarter, calendar Q1 versus calendar 4Q.

許多軟體公司都談到了本季、第一季與第四季相比的企業需求連續疲軟的情況。

And if I heard your comments correctly, what you're experiencing is markedly different or more positive.

如果我理解的沒錯，您的經驗明顯不同，或者說更積極。

I think I heard you talk about a solid finish to the quarter, stabilized or stable churn rates, and strong pipeline.

我想我聽到您談到本季的順利結束、穩定的客戶流失率以及強大的管道。

So if I heard that correct, to what do you attribute the relative strength?

那麼，如果我聽得正確的話，您認為相對強勢的原因是什麼？

Is it the product?

是產品嗎？

Is it relatively low penetration?

滲透率是不是比較低？

I think it would be helpful to put a finer point on that, just given how the markets responded recently to some of the other company commentary.

考慮到最近市場對其他一些公司評論的反應，我認為更詳細地闡述這一點會很有幫助。

Yeah.

是的。

Michael, thanks for that question.

邁克爾，謝謝你提問。

I do think for us, unlike a year ago, we're now seeing customers are planning to invest, especially in AI.

我確實認為，對我們來說，與一年前不同的是，我們現在看到客戶正計劃投資，特別是在人工智慧領域。

And so in AI, in particular, it's also a potential driver of consolidation in our space because they see the benefit of having all of work management on one platform to really accelerate the benefits that would then approve from AI on top of those workflows.

因此，特別是在人工智慧領域，它也是推動我們領域整合的潛在動力，因為他們看到了將所有工作管理放在一個平台上的好處，這真正加速了人工智慧在這些工作流程之上所獲得的好處。

And so we really see -- we've always been strong in having relationships with customers or digital transformation.

因此我們確實看到——我們在與客戶的關係或數位轉型方面一直很強大。

We feel like digital transformation is the first step and precursor to AI transformation.

我們認為數位轉型是人工智慧轉型的第一步和先決條件。

And so they're responding enthusiastically as we are showing them what's already in the product and what's coming.

當我們向他們展示產品現有的功能和即將推出的功能時，他們反應十分熱烈。

So I think that's actually what we're seeing in terms of in the demand environment.

所以我認為這實際上就是我們在需求環境中看到的情況。

And then as far as consolidations go, we're also just seeing that directly with customers.

就合併而言，我們也直接與客戶一起看到了這一點。

A hardware manufacturing company that we work closely with expanded to a three-year contract this quarter.

與我們密切合作的一家硬體製造公司本季的合約延長至三年。

They replaced two other redundant tools, really being driven out of the CIO's organization.

它們取代了另外兩個多餘的工具，真正被趕出了CIO的組織。

So the CIO wanted to drive business value by managing all of their road maps, their projects, their product launches, and their marketing workflows all in Asana; and that's giving their leadership team visibility and control across their most critical initiatives.

因此，資訊長希望透過在 Asana 中管理所有路線圖、專案、產品發布和行銷工作流程來推動商業價值；這使得他們的領導團隊能夠清楚地了解並控制最重要的舉措。

And so I think it's that confluence of CIOs are looking to streamline and simplify their tech investments.

因此，我認為資訊長們正在尋求精簡和簡化他們的技術投資。

Work management is emerging as a category that they're paying a lot of attention to.

工作管理正在成為他們非常關注的一個類別。

You add, on top of that, wanting to embrace AI in a strategic way.

除此之外，你還希望以策略性方式擁抱人工智慧。

And so I think we're seeing that all come together in our customers.

所以我認為我們看到這一切都在我們的客戶身上體現出來了。

Thank you for that comment.

感謝您的評論。

Oh, I'm sorry.

噢，對不起。

This is Tim (multiple speakers) Is the investments that we've also made in our go-to-market leadership.

這是提姆（多位發言者），這也是我們在市場領導方面所做的投資。

That's been extremely beneficial in terms of moving the teams up and focusing them on the enterprise market.

這對於提升團隊水平並使其專注於企業市場非常有益。

And there was also the comment earlier about the strength in EV or international relative to the US and presumably, productivity improving and hopefully migrating to North America later this year.

先前也有人評論說，相對於美國，電動車或國際市場的實力將增強，預計生產力將提高，並有望在今年稍後遷移到北美。

Yeah.

是的。

Absolutely and thanks, Tim.

當然，謝謝，提姆。

Kudos to the team, yeah.

是的，向團隊致敬。

We've been seeing real strength in EMEA.

我們看到了歐洲、中東和非洲地區真正的實力。

That's where in each market, we now have seasoned interpret leadership.

這就是我們現在在每個市場都擁有經驗豐富的解釋領導能力的原因。

We're also seeing that globally as we've been investing in new leadership in sales enablement and field readiness, operations, as well as the new global leader for sales development.

我們也在全球範圍內看到這一點，我們一直在投資銷售支援和現場準備、營運方面的新領導力，以及銷售發展的新全球領導者。

That's also helping to drive consistency and performance in the enterprise.

這也有助於提高企業的一致性和效能。

So we're excited to see more of that come in North America.

因此我們很高興看到北美出現更多這樣的情況。

Our General Manager for North America joined at the beginning of the fiscal year, and we're really excited to see the momentum that he's driving.

我們的北美總經理在本財年初加入，我們非常高興看到他所推動的良好發展動能。

Taylor McGinnis, UBS.

瑞銀的泰勒麥金尼斯。

Yeah, hi.

是的，你好。

Thanks so much for taking my questions.

非常感謝您回答我的問題。

So the first one is you talked about NRR going down in Q2.

第一個問題您談到了第二季的 NRR 下降。

But given that's a trailing 12-month metric, I know it can be a little noisy.

但考慮到這是過去 12 個月的指標，我知道它可能會有點吵雜。

So I'm just wondering.

所以我只是好奇。

Can you give us color on how the renewal base in 2Q compares to what we've seen in past quarters in terms of size and churn risk?

您能否向我們介紹一下第二季的續約基數與前幾季相比在規模和客戶流失風險方面的情況？

And then secondly, as we think about like the renewal rate that you're seeing in 2Q versus previous quarter, is the expectation that those will be similar, better, tougher?

其次，當我們思考第二季與上一季的續約率時，預計它們會相似、更好還是更艱難？

Like any more, I guess, color in terms of some of like the quarterly dynamics?

我想，就某些季度動態而言，還有其他的顏色嗎？

Thanks.

謝謝。

Yeah.

是的。

I think we -- I think as we mentioned on the call, Taylor, we specifically pointed that we still have some tough renewals going into Q2 and that we're very well aware of those customers.

我認為，正如泰勒在電話會議上提到的那樣，我們特別指出，我們在第二季度仍然面臨一些艱難的續約問題，而且我們非常了解這些客戶。

But coming out of Q2, we expect our gross renewal rate as well as NRR to pretty much stabilize.

但從第二季開始，我們預計我們的總續約率和NRR將基本穩定。

And to the degree that expansion continues to happen, pipeline continues to build, we think those things will reaccelerate.

隨著擴張的持續進行和管道的不斷建設，我們認為這些事情將會重新加速。

If I compare the slope of the curve of where things are today versus where they were a year ago, things last year was definitely on a downward slope in both our NRR and our GRR.

如果我比較一下現在與一年前曲線的斜率，就會發現去年我們的 NRR 和 GRR 都呈現下降趨勢。

And when I look back now, it's at the -- the last two, three quarters, things are much more stable and have, essentially, I would say, almost flat lined on a real basis.

現在回顧過去，過去的兩三個季度，情況更加穩定，基本上可以說實際水平幾乎持平。

Perfect.

完美的。

And then my second question is just in terms of the new like pricing and packaging.

我的第二個問題是關於新產品的定價和包裝。

And obviously, like, AI ties into this.

顯然，人工智慧與此相關。

But can you just give like an update in terms of the uptick that you're seeing there, if any, and how that could be a growth driver in the back half of this year?

但是，您能否就您所看到的上漲情況提供一些最新消息，如果有的話，以及這將如何成為今年下半年的成長動力？

Thanks.

謝謝。

Yeah.

是的。

Taylor, I'll answer that question.

泰勒，我來回答這個問題。

So we're definitely continuing to see really encouraging signals that the new tiers are driving higher enterprise up-tiering and contributing to a larger volume of enterprise deals in our pipeline versus historical.

因此，我們確實繼續看到真正令人鼓舞的信號，表明新的層級正在推動企業升級，並為我們管道中的企業交易量做出貢獻，而歷史數據則顯示，這一增長速度是相當驚人的。

As of the end of Q1, we almost doubled the number of customers who adopted our new packaging compared to Q4.

截至第一季末，採用我們新包裝的客戶數量與第四季度相比幾乎增加了一倍。

And since the launch of the new packages, customers up-tiering to our new enterprise packages comprised approximately 40% of our total enterprise tier ARR agent.

自從推出新套餐以來，升級到我們新企業套餐的客戶約占我們企業級 ARR 代理總數的 40%。

So early positive signals, and we're moving as quickly as possible to get customers into these new plans.

因此早期的訊號是正面的，我們會盡快讓客戶參與這些新計劃。

Patrick Walravens, Citizens JMP.

Patrick Walravens，公民 JMP。

Great.

偉大的。

Thanks for taking my question.

感謝您回答我的問題。

So I know there's been a lot of discussion about AI on the call.

我知道電話會議上對人工智慧進行了大量討論。

I just wanted to drill down on one point.

我只是想深入探討一點。

So there have been concerns about AI driving more seat compression.

因此人們擔心人工智慧會導致更多的席位壓縮。

I just wanted to ask.

我只是想問一下。

If you put more AI tools in the hands of the Asana customer, is that a line that gets crossed at a certain point?

如果你將更多的 AI 工具交到 Asana 客戶手中，那麼在某個時候是否會跨越一條界線？

Or does it actually make it more appealing for customers to put more behind Asana?

或者它實際上是否能吸引客戶更多地支持 Asana？

How do you think about that?

您對此有何看法？

Thanks.

謝謝。

Yeah.

是的。

So part of that, I think, is unknown.

所以我認為，其中一部分是未知的。

But there's a few big things that I'd go back to there.

但有幾件重要的事情我還是想再談。

One, we still have a lot of seed expansion opportunity in our existing customers.

首先，我們在現有客戶中仍然有很多種子擴張機會。

So unless they're already wall to wall, I think on balance, this is a reason to expand further.

因此，除非他們已經覆蓋了整個牆面，否則我認為總的來說，這是一個進一步擴張的理由。

And then the other is I think that moving -- or adding the consumption-based revenue line gives us some future proofing there because it's really aligning price to value on what they're getting out of the functionality rather than fixating on the seats.

另一方面，我認為行動或增加基於消費的收入線可以為我們提供一些未來保障，因為它真正將價格與用戶從功能中獲得的價值相結合，而不是僅僅關注席位。

So I think if that becomes a bigger trend, then we would move more in that direction.

因此我認為，如果這成為一種更大的趨勢，那麼我們就會朝著這個方向努力。

And this is setting us up well to be agile.

這為我們變得敏捷做好了準備。

But in the next few years, again, given what I said about the early adopter curve and the way these technologies are adopted, I don't think that's particularly relevant to the model or something that we're seeing in practice in deals.

但在接下來的幾年裡，考慮到我所謂的早期採用者曲線以及這些技術的採用方式，我認為這與模型或我們在交易實踐中看到的東西並不是特別相關。

Okay.

好的。

Thanks.

謝謝。

That concludes today's question-and-answer session.

今天的問答環節到此結束。

I'd like to turn the call back to Catherine Buan for closing remarks.

我想請 Catherine Buan 作最後發言。

Thank you again for joining us today.

再次感謝您今天的參與。

I know it was a really busy day in earnings, and we appreciate your time.

我知道這是非常忙碌的一天，我們非常感謝您抽出時間。

Looking forward to seeing you on the road this quarter.

期待本季在路上見到您。

We'll be at all the conferences in San Francisco and New York.

我們將參加舊金山和紐約的所有會議。

And of course, please join us in San Francisco on Wednesday, June 5, for the Work Innovation Summit.

當然，請參加 6 月 5 日星期三在舊金山舉行的工作創新高峰會。

You can register on our website or just register with ir@asana.com. And looking forward to seeing you on Wednesday.

您可以在我們的網站上註冊，也可以直接在 ir@asana.com 註冊。期待週三見到您。

Thank you.

謝謝。

This concludes today's conference call.

今天的電話會議到此結束。

Thank you for participating.

感謝您的參與。

You may now disconnect.

您現在可以斷開連線。