Asana Inc (ASAN) 2025 Q2 法說會逐字稿

Good day and thank you for standing by.

您好，感謝您的支持。

Welcome to the Asana second-quarter fiscal year 2025 earnings call.

歡迎參加 Asana 2025 財年第二季財報電話會議。

(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 second quarter of fiscal year 2025.

下午好，感謝您參加今天的電話會議，討論 Asana 2025 財年第二季的財務業績。

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, 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、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.

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，以獲取有關可能導致實際結果與所述結果大不相同的風險、不確定性和假設的更多資訊在這樣的聲明中。

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 webpage 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。

In the second quarter, Asana continued to execute on our transition to the enterprise and make strides on Asana AI.

第二季度，Asana 繼續執行向企業轉型的策略，並在 Asana AI 方面取得進展。

I'll go through a few highlights from the quarter and then jump into some of the key trends that are shaping our industry and informing our strategy to be the enterprise leader in the category.

我將介紹本季度的一些亮點，然後談談塑造我們行業和指導我們成為該類別企業領導者的策略的一些關鍵趨勢。

In Q2, our revenues grew 10% year over year, ahead of our guidance and consistent with our expectation that Q2 would be a baseline for stabilization going forward.

在第二季度，我們的營收年增了 10％，超出了我們的預期，並且符合我們對第二季度將成為未來穩定基線的預期。

We saw great leading indicators for growth in pockets of our business, including key wins in manufacturing, energy, transportation and government, which Anne will talk about.

我們看到了業務各個領域的出色成長領先指標，包括製造業、能源、交通運輸和政府領域的關鍵勝利，安妮將會談論這些。

Excluding the technology vertical, our Q2 revenue growth rate would have been in the mid-teens.

除去垂直技術部門，我們第二季的營收成長率應該在15%左右。

We also reported free cash flow positive of $12.8 million or 7% on a free cash flow margin basis in Q2, reflecting our continued focus on operational discipline.

我們還報告稱，第二季度的自由現金流為正 1,280 萬美元，按自由現金流利潤率計算為 7%，這反映了我們對營運紀律的持續關注。

The number of customers spending over $100,000 or more grew 17% year over year.

消費金額超過10萬美元的顧客數量較去年同期增加了17%。

We had a record number of multi-year deals as we continue to build partnerships with industry leaders and the most innovative companies in the world are redefining how they work.

隨著我們繼續與行業領袖建立合作夥伴關係，並且世界上最具創新性的公司正在重新定義其工作方式，我們達成了創紀錄數量的多年期交易。

In fact, two of the most well-known AI lab companies had significant expansions in Q2 as they adopt Asana internally and partner with us on the technology front as well.

事實上，兩家最知名的人工智慧實驗室公司在第二季度實現了顯著擴張，他們在內部採用了 Asana，並在技術方面與我們合作。

We are clearly on the right path and are confident that our business will reaccelerate.

我們顯然走在正確的道路上，並有信心我們的業務將再次加速發展。

However, the macro headwinds persist.

然而，宏觀阻力依然存在。

Also the technology vertical remains a drag on our overall growth.

此外，技術垂直領域仍然是我們整體成長的阻礙。

At the same time, we see encouraging signs in some of our top verticals such as retail and consumer goods, and media and entertainment.

同時，我們在零售和消費品、媒體和娛樂等一些頂級垂直領域看到了令人鼓舞的跡象。

We have more work to do in this quarter marks a stabilization point from which we're well poised to inflect in the coming quarters.

本季我們還有許多工作要做，這標誌著一個穩定點，我們已準備好在接下來的幾季中實現轉變。

Today, we're at a pivotal moment where AI, particularly generative AI has enormous potential to revolutionize work management and reshape the software industry.

今天，我們正處於一個關鍵時刻，人工智慧，特別是生成人工智慧，具有徹底改變工作管理和重塑軟體產業的巨大潛力。

This era of AI transformation is poised to be as significant as, if not more than, the digital transformation trend that preceded it.

人工智慧轉型時代的重要性將不亞於先前的數位轉型趨勢，甚至更為重大。

At Asana, we're laser-focused on unlocking the potential of AI for our customers.

在 Asana，我們專注於為客戶釋放 AI 的潛力。

At our Work Innovation Summit in San Francisco this June, we previewed for the first time Asana AI workflows, a groundbreaking advancement that leverages AI to manage your work, helping our customers tackle complex workflows and elevate teamwork with AI.

今年6 月，在我們於舊金山舉行的工作創新高峰會上，我們首次預覽了Asana AI 工作流程，這是一項突破性的進步，它利用AI 來管理您的工作，幫助我們的客戶處理複雜的工作流程並透過AI 提升團隊合作。

These AI workflows, which have been in beta since June, will be part of our upcoming paid offering, Asana AI Studio, launching in October.

這些 AI 工作流程自 6 月以來一直處於測試階段，將成為我們即將於 10 月推出的付費產品 Asana AI Studio 的一部分。

The AI Studio platform will allow customers to build, deploy, and enhance workflows with AI teammates taking on some of the work.

AI Studio 平台將允許客戶建置、部署和增強工作流程，並由 AI 隊友承擔部分工作。

In AI studio, a program manager or any designated team member can dictate where an AI teammate can start doing useful work without anyone else having to learn something new, adopt a new application or change their behavior.

在 AI 工作室中，專案經理或任何指定的團隊成員可以指示 AI 隊友可以從哪裡開始做有用的工作，而無需其他人學習新知識、採用新應用程式或改變他們的行為。

Importantly, employees don't need to go elsewhere to access this AI capability; it's embedded right where they work, every day.

重要的是，員工不需要去其他地方就可以存取這種 AI 功能；它就存在於他們每天工作的地方。

This provides a practical, powerful solution for organizations trying to adopt AI internally.

這為試圖內部採用人工智慧的組織提供了實用且強大的解決方案。

It also means you have existing integrations to all your important tools across CRM, finance, HR, productivity suites and more.

這也意味著您已經與 CRM、財務、人力資源、生產力套件等所有重要工具進行了整合。

This supports our long-term strategy to be the hub that moves work forward across your systems using AI.

這支持了我們的長期策略，即成為利用人工智慧推動整個系統工作進展的中心。

Of course, automated workflows and workflow builders have been around for years, but now customers have the ability to design these workflows on Asana with AI teammates to assist with any step in the workflow.

當然，自動化工作流程和工作流程建立器已經存在多年，但現在客戶可以在 Asana 上設計這些工作流程，並讓 AI 隊友協助完成工作流程中的任何步驟。

Customers will be able to subscribe to AI Studio Builder and begin creating and deploying AI workflows.

客戶將能夠訂閱 AI Studio Builder 並開始建立和部署 AI 工作流程。

This model will allow customers to unlock AI actions on a consumption basis, allowing enterprises to buy exactly what they need to fit their organization at that moment in time.

這種模式將允許客戶根據消費情況解鎖AI行動，使企業能夠購買其組織當前所需的確切產品。

It's been exciting to see the early momentum in our AI Studio beta program since we rolled it out in June.

自 6 月推出 AI Studio 測試版計畫以來，我們很高興看到該計畫的早期發展勢頭。

The beta program has already attracted industry leaders across various sectors, including media, technology, financial services, manufacturing, healthcare, professional services, and consumer goods.

該測試計劃已經吸引了各個領域的行業領袖，包括媒體、技術、金融服務、製造業、醫療保健、專業服務和消費品。

There's a healthy amount of skepticism around AI and the value it's currently providing the enterprise.

人們對人工智慧及其目前為企業提供的價值持相當懷疑的態度。

My view is we're still early in the adoption cycle, especially in businesses, and customers are just beginning to successfully leverage the potential and understand how to apply it effectively to more parts of their business.

我的觀點是，我們仍處於採用週期的早期階段，特別是在企業中，客戶才剛開始成功地利用其潛力並了解如何將其有效地應用於更多業務部分。

AI is powerful, but it demands new skills and behaviors from users.

人工智慧功能強大，但它要求用戶具備新的技能和行為。

Most of these capabilities are currently being offered in chat apps and copilots, leaving it up to every individual to determine how to extract value.

目前，大多數這些功能都是在聊天應用程式和副駕駛中提供的，如何獲取價值則由每個人來決定。

Likewise, autonomous agents are not ready to take over real roles in an organization.

同樣，自主代理還沒有準備好接手組織中的實際角色。

They're too unpredictable and unreliable.

他們太難以預測且不可靠了。

Effective AI adoption means integrating AI directly into everyday work and workflows, where AI can drive meaningful and measurable impact at scale, complementing human efforts rather than replacing them.

有效地採用人工智慧意味著將人工智慧直接融入日常工作和工作流程中，人工智慧可以在其中產生大規模有意義且可衡量的影響，補充人類的努力而不是取代它們。

Let me detail a few specific early use cases from actual customer implementations to make this real for all of you.

讓我詳細介紹一些實際客戶實施中的具體早期用例，以使所有人都能實現這一點。

Regardless of industry or size, every company has work in workflows that touch multiple departments and teams such as strategic planning, customer service, store openings, procurement, and due diligence.

無論行業或規模如何，每家公司都有涉及多個部門和團隊的工作流程，例如策略規劃、客戶服務、商店開業、採購和盡職調查。

Coordinating work cross-functionally is notoriously difficult because it extends across teams, tools, and geographies.

跨職能協調工作非常困難，因為它跨越團隊、工具和地理。

Work intake is oftentimes the bridge across a lot of these teams, tools and processes.

工作攝取通常是連接這些團隊、工具和流程的橋樑。

And now Asana teammates can not only improve the process holistically, it can manage and do a lot of the work.

現在，Asana 隊友不僅可以全面改進流程，還可以管理和完成大量工作。

Each of the four phases of cross-functional work gets easier, including intake -- this is where AI teammates are able to refine tasks, extract data, triage requests, prioritize work, communicate with requesters and route tasks.

跨職能工作的四個階段中的每一個階段都變得更加容易，包括接收——這是AI 隊友能夠細化任務、提取數據、分類請求、確定工作優先級、與請求者溝通和安排任務的地方。

Next stage is planning where AI teammates are able to summarize requests, conduct research, including the integrations with other tools and recommend next steps.

下一階段是規劃，AI 隊友能夠總結請求、進行研究，包括與其他工具的整合並建議後續步驟。

Execution, where AI teammates are able to draft content, do translations, incorporate feedback, and answer questions using various data sources.

執行，其中 AI 隊友能夠使用各種資料來源起草內容、進行翻譯、整合回饋並回答問題。

And finally, reporting reflection.

最後，報告反思。

This is where AI teammates are able to update metadata for reporting and suggests retrospective topics driving continuous improvement.

在這裡，AI 隊友能夠更新報告的元數據並提出推動持續改進的回顧性主題。

One of our customers, a global cybersecurity leader, has tested how our AI teammates can contribute to their global marketing organization and significantly improve their processes for intaking email requests to execution.

我們的一位客戶是全球網路安全領導者，他測試了我們的 AI 隊友如何為他們的全球行銷組織做出貢獻並顯著改善他們接收電子郵件請求到執行的流程。

Before Asana teammates, they face challenges with missing information and submissions, time-consuming prioritization meetings, and delays in global market launches.

在 Asana 隊友面前，他們面臨著資訊和提交缺失、耗時的優先排序會議以及全球市場發布延遲等挑戰。

Our AI teammates have shown how we can address these pain points comprehensively.

我們的AI隊友已經展示了我們如何全面解決這些痛點。

So the first step is request intake.

因此，第一步是接收請求。

AI can now evaluate requests at the point of submission, auto-naming them for clarity and proactively finding missing information.

人工智慧現在可以在提交時評估請求，自動命名以提高清晰度並主動查找缺失的資訊。

Requests are summarized in natural language, making the relative importance clear at a glance.

請求以自然語言進行總結，一目了然地了解相對重要性。

Second step, prioritization.

第二步，決定優先次序。

We've shown how we can streamline their alignment meetings with better first-stab prioritization, reducing the time spent on these sessions.

我們已經展示瞭如何透過更好的優先順序來簡化他們的協調會議，從而減少這些會議所花費的時間。

Third step, execution.

第三步，執行。

Perhaps most impressively, this customer has expressed how this can eliminate translation delays that have previously caused more than two week gaps between English and other market launches.

也許最令人印象深刻的是，這位客戶表示，這可以消除先前導致英語和其他市場發布之間出現兩週以上差距的翻譯延遲。

Now all launches can happen simultaneously, ensuring no market feels de-prioritized, and the marketing organization can deliver more consistent, improved customer experience globally.

現在，所有發布都可以同時進行，確保沒有任何市場感覺被降低優先級，並且行銷組織可以在全球範圍內提供更加一致、更好的客戶體驗。

It's worth noting that this AI-powered solution replaces the need for dedicated industry-specific translation software or services that companies might traditionally use for such tasks.

值得注意的是，這種人工智慧解決方案取代了該公司傳統上用於此類任務的專用行業翻譯軟體或服務的需求。

And we expect to offer this for much less than what those traditional translation services costs, providing significant value and cost savings to customers.

我們期望以比傳統翻譯服務低得多的價格提供這項服務，為客戶提供顯著的價值並節省成本。

Last, reporting.

最後，報告。

In the reporting/reflection phase, AI can update metadata, which you know as custom fields, to inform work reporting and suggest topics for retrospectives.

在報告/反思階段，人工智慧可以更新元資料（即自訂欄位），以通知工作報告並建議回顧的主題。

This helps teams capture learnings and insights more effectively, leading to continuous improvements in their processes.

這有助於團隊更有效地獲取學習成果和見解，從而不斷改進流程。

Let me share another customer example.

讓我分享另一個客戶範例。

A global leader in outdoor advertising has been testing Asana AI teammates for their creative request intake process across regions.

一家全球領先的戶外廣告公司一直在跨區域測試 Asana AI 隊友的創意請求接收流程。

The team is very encouraged by the potential here.

團隊對這裡的潛力感到非常鼓舞。

In the words of the VP of Marketing Operations, it allows them to prioritize the bigger things they want to do, to show more business impact, and affect the bottom line.

用行銷營運副總裁的話來說，它使他們能夠優先考慮他們想要做的更大的事情，以顯示更多的業務影響，並影響底線。

Importantly, this customer views AI as an enabler for human creativity and strategic thinking, not as a replacement for human work.

重要的是，該客戶將人工智慧視為人類創造力和戰略思維的推動者，而不是人類工作的替代方案。

This encapsulates our vision for AI teammates -- tools that enhance human capabilities, drive efficiency, and ultimately contribute to our customers' bottom line.

這體現了我們對 AI 隊友的願景——增強人類能力、提高效率並最終為我們的客戶帶來利潤的工具。

These stories exemplify our AI capabilities built on the foundation of our unique and proprietary Work Graph data model can drive efficiency, improve collaboration, and ultimately contribute to better business outcomes for our customers -- the testament to the power of AI teammates, working alongside human teams to enhance productivity and strategic impact.

這些故事體現了我們建立在獨特專有工作圖資料模型基礎上的人工智慧能力，可以提高效率、改善協作，並最終為我們的客戶帶來更好的業務成果——證明了人工智慧隊友與人類一起工作的力量團隊來提高生產力和策略影響力。

These are just a few early examples of AI teammates in action.

這些只是 AI 隊友行動的一些早期範例。

We hope to be able to report next year that we have hundreds or even thousands of such workflows at a meaningful number of our customers.

我們希望明年能夠報告，我們為大量客戶擁有數百甚至數千個這樣的工作流程。

Now let me talk about how we're capturing the consolidation opportunity.

現在讓我談談我們如何抓住整合機會。

We remain in a budget-focused environment and customers are looking for consolidation opportunities.

我們仍然處於以預算為中心的環境中，客戶正在尋找整合機會。

Our proven ability to scale, the structural advantages of the Work Graph, especially as it relates to AI, and our focus on central functions across the enterprise makes us particularly well-suited to capitalize on this opportunity.

我們已證明的擴展能力、工作圖譜的結構優勢（尤其是與人工智慧相關的優勢）以及我們對整個企業的核心職能的關注，使我們特別適合利用這一機會。

We believe we're the only collaborative work management platform that's proven at scale for large enterprises, and we have several customers with over 10,000 seats and one customer with 200,000 seats actively deployed.

我們相信，我們是唯一經過大規模驗證適用於大型企業的協作工作管理平台，我們有多個擁有超過 10,000 個席位的客戶，還有一個積極部署了 200,000 個席位的客戶。

In practice, there's no organization too big for Asana, and we've proven that the value and differentiation of Asana accrues with scale thanks to our unique and differentiated data model.

實際上，對於 Asana 來說，沒有哪個組織太大，而且我們已經證明，由於我們獨特且差異化的資料模型，Asana 的價值和差異化會隨著規模的擴大而增加。

To support this effort and help our customers realize more value even faster, we're expanding the baseline offering of our enterprise tiers.

為了支持這項工作並幫助我們的客戶更快地實現更多價值，我們正在擴展企業層的基本產品。

In addition to premium AI features, we're adding more high-value functionality like request tracking and work intake, resource management, enhanced executive reporting, and visualizations of how goals and work are inextricably linked in Asana.

除了高級 AI 功能外，我們還添加了更多高價值功能，例如請求追蹤和工作接收、資源管理、增強的執行報告以及目標和工作在 Asana 中如何密不可分的可視化。

We're also rolling out unlimited view-only licenses to see work in Asana with an in-product path to request a paid license to comment or add work.

我們還推出了無限制的唯讀許可證，以便在 Asana 中查看作品，並透過產品內路徑請求付費許可證來評論或添加作品。

We think this has the potential to meaningfully contribute to paid seat growth within our accounts.

我們認為這有可能對我們帳戶中的付費席位成長做出有意義的貢獻。

Finally, we announced our official commitment to pursue FedRAMP certification, which will unlock new market opportunities in government agencies and other regulated industries.

最後，我們宣布正式致力於獲得 FedRAMP 認證，這將為政府機構和其他受監管行業帶來新的市場機會。

These initiatives are designed to help enterprises quickly achieve the critical mass needed to fully leverage the AI-enhanced Work Graph and consolidate their work management needs on a single, powerful platform.

這些措施旨在幫助企業快速達到充分利用人工智慧增強型工作圖所需的臨界規模，並將其工作管理需求整合到一個強大的平台上。

Finally, let me explain how we believe AI will help us drive revenue and adoption in three key ways.

最後，讓我解釋一下我們認為人工智慧將如何透過三種關鍵方式幫助我們推動收入和採用。

First, it already enhances the value we deliver in our core work management functionality such as Smart Goals and Smart Status features.

首先，它已經增強了我們在核心工作管理功能（例如智慧目標和智慧狀態功能）中提供的價值。

This is what customers get in most of our packages today, depending on their tiers.

這就是目前我們大多數套餐中客戶可以獲得的服務，這取決於他們的等級。

Second, AI is enabling us to introduce new add-ons, and we have specific ones we're developing now.

其次，人工智慧使我們能夠推出新的附加元件，我們現在正在開發一些特定的附加元件。

Resource planning will be a license add-on, for example.

例如，資源規劃將是許可證附加元件。

And third, we continue to believe in the potential of usage-based AI revenue.

第三，我們仍然相信基於使用情況的人工智慧收入的潛力。

We're in the early stages here, but we're learning more on this front every day from our customers and our AI Studio beta program, which we're expecting to formally launch soon.

我們還處於早期階段，但我們每天都會從客戶和 AI Studio 測試版程式中學到更多這方面的知識，我們預計測試版程式很快就會正式推出。

In closing, we're clearly making progress with our enterprise strategy, but the shape of the acceleration curve will be very modest in the next few quarters and more pronounced later.

最後，我們的企業策略顯然取得了進展，但未來幾季的加速曲線形狀將非常溫和，後期將更加明顯。

We're confident it will happen, because we've already seen it in some segments of the business, and we're beginning to see stabilization in others.

我們相信這會發生，因為我們已在某些業務領域看到了這一點，我們也開始看到其他業務領域的穩定。

We remain committed to a sustained positive free cash flow by the end of Q4.

我們仍致力於在第四季末實現持續的正自由現金流。

We're winning strategic customers across important industries, closing more multi-year deals and investing in AI to meet enterprise demands.

我們正在贏得重要產業的策略客戶，達成更多多年期交易，並投資人工智慧以滿足企業需求。

We're excited to share more of our innovation and customer success stories at the Work Innovation Summit in New York City on October 22, and again in London on November 13.

我們很高興能夠在 10 月 22 日於紐約舉行的工作創新高峰會以及 11 月 13 日於倫敦舉行的工作創新高峰會上分享更多我們的創新和客戶成功案例。

We hope to see you there.

我們希望在那裡見到您。

Before I hand it over to Anne, I'd like to also say a few words about the announcements we made today in conjunction with our earnings release.

在將其交給安妮之前，我還想談談我們今天在收益發布會上發布的公告。

As you probably read, we announced Tim's departure and the arrival of a new CFO.

正如您可能讀到的那樣，我們宣布了蒂姆的離職和新財務長的到來。

Change is always bittersweet, but it's part of being in a high-growth environment.

變化總是苦樂參半，但它是高成長環境的一部分。

As many of you already appreciate, Tim has been a great leader, partner, and friend for all of us at Asana for almost eight years and now will be handing over the baton.

正如你們許多人已經意識到的那樣，近八年來，蒂姆一直是 Asana 所有人的偉大領導者、合作夥伴和朋友，現在他將交接接力棒。

He's been an integral part of the Asana journey, joining us on in 2017, building financial infrastructure to help us scale and navigating us through our entry into the public markets and improving operating margins dramatically while we continue to invest in growth.

他是 Asana 發展歷程中不可或缺的一部分，於 2017 年加入我們，建立金融基礎設施，幫助我們擴大規模，引導我們進入公開市場，並在我們繼續投資於成長的同時大幅提高營業利潤率。

I'll miss working with Tim.

我會懷念與提姆一起工作的時光。

He has been a strong partner to me and the Asana leadership team, but he will remain on as an adviser to help in the transition.

他一直是我和 Asana 領導團隊的強大合作夥伴，但他仍將繼續擔任顧問，協助過渡。

Tim, we're very grateful for your many contributions.

提姆，我們非常感謝您的諸多貢獻。

At the same time, I'm excited to announce our new Chief Financial Officer, Sonalee Parekh.

同時，我很高興地宣布我們新任財務長 Sonalee Parekh。

Sonalee is a seasoned finance executive with over 25 years’ experience in high-growth technology.

Sonalee 是一位經驗豐富的財務主管，在高成長技術領域擁有超過 25 年的經驗。

Most recently, she was CFO of RingCentral.

最近，她擔任 RingCentral 的財務長。

Sonalee brings deep operational and financial experience in leading companies at scale.

Sonalee 擁有領先大規模公司的豐富營運和財務經驗。

I look forward to partnering with her in our next stage of growth.

我期待在我們下一階段的發展中與她合作。

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

說完這些，我就把它交給安妮。

Thanks, Dustin.

謝謝，達斯汀。

And I'll just echo Dustin's sentiment on both fronts.

我只是在這兩方面贊同達斯汀的觀點。

And Tim, thank you for everything.

提姆，謝謝你所做的一切。

You will certainly be missed but definitely not forgotten.

我們一定會想念你，但絕對不會忘記你。

As Dustin mentioned, early access to our Asana AI Studio beta program is getting great response from our customers.

正如達斯汀所說，我們 Asana AI Studio 測試版程式的早期試用得到了客戶的熱烈回應。

When we talk to our top 100 customers, virtually every customer wanted to be part of our beta program.

當我們與前 100 名客戶交談時，幾乎每個客戶都希望成為我們測試計劃的一部分。

Customers are interested in Asana AI Studio for everything from translating global communications across over 100 countries in minutes to managing and prioritizing complex work requests progress and even making other existing applications more effective by adding a workflow layer on top of a customer database.

客戶對Asana AI Studio 很感興趣，因為它可以實現各種功能，從在幾分鐘內翻譯100 多個國家的全球通信，到管理和確定複雜工作請求進度的優先級，甚至透過在客戶資料庫之上添加工作流程層來提高其他現有應用程式的效率。

Importantly, customers are most excited with what AI can do inside their Asana workflow.

重要的是，客戶對 AI 在他們的 Asana 工作流程中所能做的事情最為興奮。

Customers are saying the quality, efficiency, and personalization that we can deliver at scale is groundbreaking.

客戶表示，我們能夠大規模提供的品質、效率和個人化是突破性的。

As we're seeing in our beta program, our AI Studio offering is opening up new kinds of conversations across our customer base and helping us access new incremental budget dollars.

正如我們在測試程序中看到的那樣，我們的 AI Studio 產品正在為我們的客戶群開啟新的對話方式，並幫助我們獲得新的增量預算資金。

Through our AI Studio beta program, we've seen a I help us gain more executive mind share and create significant inroads with executive leadership and AI strategy group.

透過我們的 AI Studio 測試計劃，我們看到它幫助我們獲得更多高階主管的關注，並與高階主管領導和 AI 策略小組取得了重大進展。

Our AI capabilities are not just operational tools but strategic assets.

我們的人工智慧能力不僅是營運工具，更是戰略資產。

This level of access is allowing us to enhance the traditional workflows our customers rely on Asana for, such as work intake, product launches, and strategic planning, while also giving us the opportunity to support new workflows due to the power, ease-of-use, and flexibility of our AI offering.

這種程度的存取使我們能夠增強客戶依賴 Asana 的傳統工作流程，例如工作接收、產品發布和策略規劃，同時也讓我們有機會透過其強大、易用的功能支援新的工作流程。產品的使用和靈活性。

We're finding that customers don't want to introduce another silo tool for their AI workflows.

我們發現客戶不想為他們的 AI 工作流程引入另一個孤立工具。

They want an embedded where their employees are already managing their work, and that's in Asana.

他們想要一個可以嵌入員工工作管理的系統，這就是 Asana。

This engagement at the highest levels of organizations and direct collaboration with AI councils positions Asana as a key partner in shaping our customers' AI strategies and set us up well for expanded partnerships and growth opportunities.

這種與組織最高層的接觸以及與人工智慧委員會的直接合作使 Asana 成為塑造我們客戶人工智慧策略的關鍵合作夥伴，並為我們擴大合作夥伴關係和成長機會奠定了良好基礎。

Turning to Q2, as we expected going into the quarter, ongoing budget scrutiny and longer sales cycles continued to impact our business, consistent with last quarter.

展望第二季度，正如我們所預期的那樣，持續的預算審查和更長的銷售週期繼續影響我們的業務，與上一季的情況一致。

As a result, we saw a number of deals pushed out, but they remained in our pipeline.

結果，我們看到許多交易被推遲，但它們仍然在我們的籌備之中。

Secondly, the headwinds in the technology vertical continue to weigh down our overall revenue growth.

其次，技術垂直領域的阻力持續拖累我們的整體收入成長。

Despite the continued headwinds, we closed some very strategic deals across industries such as automotive, manufacturing, government, energy, among many others.

儘管面臨持續的阻力，我們仍在汽車、製造、政府、能源等許多產業達成了一些非常具有戰略意義的交易。

By geography, international-led revenue growth at 12.3% reported and 12.8% year over year when we exclude the currency impact.

按地區劃分，國際業務主導的收入成長為 12.3%，若排除貨幣影響，則年增 12.8%。

The international team continues to execute well, with particular success in key verticals such as energy and manufacturing.

國際團隊繼續表現出色，尤其在能源和製造業等關鍵垂直領域取得了成功。

In the US, we continued in Q2 to be pressured by early successes in the technology sector.

在美國，我們在第二季度繼續受到科技領域早期成功的壓力。

Overall, US growth was 9% year over year, heavily impacted by the technology sector exposure.

整體而言，美國經濟年增 9%，受到科技業影響較大。

Fortunately, we now have put our largest seat adjustments behind us as of last quarter, and we believe that the in-quarter dollar-based net retention rate is at a stabilizing point.

幸運的是，截至上個季度，我們已經完成了最大的席位調整，並且我們相信本季基於美元的淨留存率已經處於穩定點。

As Dustin mentioned on a previous call, in order to get to reacceleration, you need to first go through stabilization, and that's where we believe we are today.

正如達斯汀在之前的電話中提到的那樣，為了重新加速，你需要先經歷穩定階段，我們相信這就是我們目前所處的階段。

We are well poised for slight reacceleration in the near term and more substantial acceleration in the out quarters.

我們已做好準備，在短期內實現小幅加速，並在後期實現更大幅加速。

Now turning to customer dynamics in Q2.

現在來談談第二季的客戶動態。

Our enterprise customers continue to expand and multiyear deals jumped significantly this quarter, pointing to the types of longer-term partnerships we are forming with large and strategic enterprises.

我們的企業客戶繼續擴大，本季多年期交易大幅增加，這表明我們正在與大型策略企業建立長期合作夥伴關係。

The first sector I'll mention you may be very familiar with.

我要提到的第一個領域你們可能非常熟悉。

While the overall technology sector has been cycling through various buying dynamics, there are specific cohorts such as AI, where growth is very healthy.

雖然整個科技產業一直在經歷各種購買動態的循環，但人工智慧等特定領域的成長非常健康。

For example, we are the de facto standard across two of the most well-known AI lab.

例如，我們是兩個最著名的人工智慧實驗室的事實標準。

Both significantly expanded their use of Asana, so more departments can manage their strategic programs and work in a central platform.

兩家公司都大幅擴展了 Asana 的使用範圍，因此更多部門可以在一個中央平台上管理其策略計畫並開展工作。

They also both upgraded our Enterprise Plus solution to access enhanced security capabilities and get the most value from our platform.

他們還升級了我們的 Enterprise Plus 解決方案，以獲得增強的安全功能並從我們的平台獲得最大價值。

Both companies have seen rapid organic adoption of Asana in departments like marketing, sales, growth, engineering, finance and more, thanks to improved cross-department collaboration, which is enabling them to release products faster and work more effectively.

由於跨部門協作的改善，兩家公司的營銷、銷售、成長、工程、財務等部門都迅速有機地採用了 Asana，這使得他們能夠更快地發布產品並更有效地開展工作。

The energy vertical is another place where the need for innovation and efficiency is fueling demand for Asana.

能源垂直產業是另一個對創新和效率的需求推動對 Asana 的需求的領域。

For example, one of the largest energy companies in Iceland selected Asana Enterprise Plus solution after a competitive evaluation.

例如，冰島最大的能源公司之一經過競爭評估選擇了 Asana Enterprise Plus 解決方案。

They will use Asana to manage their long-term strategic investments, projects like the construction of energy plants, low-temperature and high-temperature geothermal, hydropower, fiber networks and more.

他們將使用 Asana 來管理他們的長期策略投資，例如能源工廠建設、低溫和高溫地熱、水力發電、光纖網路等項目。

Also the British renewable energy group specializing in sustainable energy, empowering millions of homes in eight countries, renewed their use of Asana to manage work across their entire company this quarter.

此外，這家專注於永續能源、為八個國家的數百萬家庭提供服務的英國再生能源集團本季也重新使用 Asana 來管理整個公司的工作。

Asana is the hub for all business activities and teams manage everything from hardware development to business strategy, planning to vendor management, so they can innovate and execute quickly to deliver continued value to their customers.

Asana 是所有業務活動的中心，團隊管理從硬體開發到業務策略、規劃到供應商管理的一切事務，因此他們能夠快速創新和執行，為客戶提供持續的價值。

In transportation, we closed the deal with Fleetio, a leader in fleet management software, who upgraded to our Enterprise Plus solution this quarter to gain access to our latest features, including Asana AI.

在交通運輸領域，我們與車隊管理軟體領導者 Fleetio 達成了交易，他們本季升級到我們的 Enterprise Plus 解決方案，以獲取我們的最新功能，包括 Asana AI。

They use Asana to manage their core work across the entire company so they can make data-driven decisions and execute on their goals.

他們使用 Asana 來管理整個公司的核心工作，以便他們可以做出數據驅動的決策並實現他們的目標。

And we had several deals across the manufacturing sector.

我們在製造業領域達成了多筆交易。

Through one of our partners, we landed a subsidiary of a prominent Korean automotive manufacturer this quarter after winning a competitive RFP.

透過我們的合作夥伴，我們在贏得一份有競爭力的 RFP 後，於本季度獲得了一家著名韓國汽車製造商的子公司。

They are replacing their legacy project management system with Asana's Enterprise Plus.

他們正在用 Asana 的 Enterprise Plus 取代其原有的專案管理系統。

Additionally, a Japan-based global innovator in manufacturing electronics expanded their use of Asana this quarter because of our ease-of-use ability to enable seamless collaboration across departments and the ability to integrate Asana into their current tech stack like Microsoft 365.

此外，總部位於日本的全球電子製造創新者本季擴大了對Asana 的使用，因為我們易於使用，能夠實現跨部門的無縫協作，並且能夠將Asana 整合到他們當前的技術堆疊（如Microsoft 365 ）中。

Now more departments like engineering chain management will manage their work in Asana to drive innovation faster.

現在，更多部門（例如工程鏈管理）將在 Asana 中管理他們的工作，以更快地推動創新。

Within the public sector, a major department within the US government needed a new collaborative work management tool to bring together nine separate units to establish their first project management organization to manage operations and complex projects for the office in charge of planning, policy, and resources, and they selected Asana.

在公共部門中，美國政府的一個主要部門需要一種新的協作工作管理工具，將九個獨立部門整合在一起，建立他們的第一個專案管理組織，為負責規劃、政策和資源的辦公室管理運營和複雜項目，他們選擇了 Asana。

They will use Asana to track the executive team strategy, budget and finance management, complex project and process management, and work intake from satellite government offices.

他們將使用 Asana 來追蹤執行團隊策略、預算和財務管理、複雜專案和流程管理以及來自衛星政府辦公室的工作量。

With Asana, they have visibility across all current projects, so they can report to leadership on progress and the support they're providing their satellite offices.

借助 Asana，他們可以查看所有當前項目，從而向領導層報告進度以及他們為分支機構提供的支援。

This great public sector customer win punctuates the importance of our government strategy as seen by our recent announcement to pursue FedRAMP certification.

我們最近宣布爭取 FedRAMP 認證，這場龐大的公共部門客戶勝利凸顯了我們政府策略的重要性。

These are just a few stories to illustrate how well Asana can execute.

這些只是為了說明 Asana 的執行能力有多出色的幾個故事。

We are driving initiatives to replicate these playbooks and scale the methodologies to repeatable, consistent processes.

我們正在推動複製這些劇本並將方法擴展到可重複、一致的流程。

We're focused on several key initiatives that will help us develop and transform our business: first, investing in a more consistent post-sales experience to drive expansion; second, improving velocity by further streamlining sales processes; third, building on excitement around AI products to improve account engagement and adoption; and finally, focusing on strategic industry verticals to further diversify our business.

我們專注於幾項有助於我們發展和轉變業務的關鍵舉措：首先，投資於更一致的售後體驗以推動擴張；第二，進一步簡化銷售流程，提升速度；第三，利用人們對人工智慧產品的興趣來提高帳戶參與度和採用率；最後，專注於策略垂直產業，進一步實現業務多元化。

In summary, our strategies are designed to drive seat expansion, deepen our customer relationships, and ultimately grow ARR.

總之，我們的策略旨在推動席次擴張、加深客戶關係並最終增加 ARR。

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。

Q2 revenues came in at $179.2 million, up 10% year over year.

第二季營收為 1.792 億美元，年增 10%。

We have 22,948 core customers or customers spending $5,000 or more on an annualized basis.

我們擁有 22,948 名核心客戶或每年消費 5,000 美元或以上的客戶。

Revenue from core customers grew 11% year over year.

來自核心客戶的營收年增11%。

This cohort represented 75% of our revenues in Q2, up from 74% in the year-ago quarter.

這部分客戶占我們第二季營收的 75%，高於去年同期的 74%。

We have 649 customers spending $100,000 or more on an annualized basis, and this customer cohort grew at 17% year over year.

我們有 649 名客戶，每年消費 10 萬美元或更多，這個客戶群較去年同期成長了 17%。

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。

Our overall dollar-based net retention rate was 98%.

我們的整體美元淨留存率為 98%。

Our dollar-based net retention rate for our core customers was 99%.

我們核心客戶的美元淨留存率為 99%。

And among customers spending $100,000 or more, our dollar-based net retention rate was 103%.

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 103%。

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，因此是一個滯後指標。

However, it's important to highlight the in-quarter trends as we go through this transition.

然而，在我們經歷這一轉變時，強調季度趨勢非常重要。

We believe that the in-quarter, dollar-based net retention rate is at a stabilization point in Q2.

我們認為，本季基於美元的淨留存率在第二季處於穩定點。

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%.

毛利率達到 89%。

Research and development was $56.5 million or 32% of revenue.

研發支出為 5,650 萬美元，佔營收的 32%。

Sales and marketing was $91.1 million or 51% of revenue.

銷售和行銷支出為 9,110 萬美元，佔收入的 51%。

G&A was $27.7 million or 15% of revenue.

G&A 費用為 2,770 萬美元，佔收入的 15%。

During the quarter, we also realized a one-time property tax credit related to our corporate headquarter, which lowered our operating expenses by $3.1 million.

本季度，我們還實現了與公司總部相關的一次性財產稅抵免，這使我們的營運費用降低了 310 萬美元。

This was an allocation impacting each OpEx line item.

這是影響每個 OpEx 項目的分配。

Operating loss was $15.7 million, and our operating loss margin was 9%.

營業虧損為 1,570 萬美元，營業虧損率為 9%。

Net loss was $11.1 million, and our net loss per share was $0.05.

淨虧損為 1,110 萬美元，每股淨虧損為 0.05 美元。

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 Q2 were approximately $521.6 million.

第二季末的現金和有價證券約為 5.216 億美元。

Our remaining performance obligation or RPO was $394.5 million, up 18% from the year-ago quarter.

我們剩餘的履約義務或RPO為3.945億美元，比去年同期成長18%。

This is a reacceleration from last quarter, driven by multiyear deals. 83% of our RPO will be recognized over the next 12 months.

這是上個季度以來的再次加速，受多年期交易的推動。我們的 83% 的 RPO 將在未來 12 個月內得到認可。

That current portion of RPO grew 14% from the year-ago quarter.

RPO 的當前部分比去年同期增長了 14%。

Our total ending Q2 deferred revenue was $289.2 million, up 11% year over year.

我們第二季末的遞延收入總額為 2.892 億美元，年增 11%。

Q2 free cash flow was $12.8 million or 7% on a margin basis.

第二季自由現金流為 1,280 萬美元，以利潤率計算為 7%。

However, remember that Q3 free cash flow will be seasonally lower, but we expect to see durable positive free cash flow by the end of Q4.

不過，請記住，第三季的自由現金流將受到季節性影響，較低，但我們預計第四季末將出現持久的正自由現金流。

As you know, we announced the $150 million stock repurchase program in June.

如您所知，我們在六月宣布了1.5億美元的股票回購計畫。

In Q2, we repurchased 19.7 million of our shares at an average price of $13.64 per share.

第二季度，我們以平均每股 13.64 美元的價格回購了 1,970 萬股。

We remain committed to investing in our growth and managing dilution while returning excess capital to shareholders via share repurchases.

我們將繼續致力於投資於我們的成長和管理稀釋，同時透過股票回購將多餘的資本回饋給股東。

Moving to guidance for Q3 fiscal 2025, we expect revenues of $180 million to $181 million, representing growth of 8% to 9% year over year.

對於 2025 財年第三季的預期，我們預期營收為 1.8 億美元至 1.81 億美元，年增 8% 至 9%。

We expect non-GAAP loss from operations of $19 million to $18 million, representing an operating margin of negative 10% at the midpoint of guidance.

我們預期非公認會計準則下的營業虧損為 1,900 萬美元至 1,800 萬美元，相當於指引中位數的營業利潤率為負 10%。

And we expect net loss per share of $0.07, assuming basic and diluted weighted average shares outstanding of approximately 227 million.

我們預期每股淨虧損為 0.07 美元，假設基本和稀釋加權平均流通股約為 2.27 億股。

For the full fiscal year 2025, we expect revenues to be in the range of $719 million to $721 million, representing growth rate of 10% year over year.

在整個 2025 財年，我們預計營收將在 7.19 億美元至 7.21 億美元之間，年增 10%。

We expect non-GAAP loss from operations of $58 million to $55 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 5,800 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%。

And we expect net loss per share of $0.20 to $0.19, assuming basic and diluted weighted average shares outstanding of approximately 227 million.

我們預計每股淨虧損為 0.20 美元至 0.19 美元，假設基本和稀釋加權平均流通股約為 2.27 億股。

As you can see from our guidance and commentary, we continue to see the software macroenvironment consistent with last quarter, and we expect these headwinds to continue.

正如您從我們的指導和評論中看到的，我們繼續看到軟體宏觀環境與上一季一致，並且我們預計這些不利因素將持續下去。

The technology vertical continues to drag our overall growth dramatically.

技術垂直領域持續大幅拖累我們的整體成長。

However, we see pockets of reacceleration across some of our key verticals as noted in some of the significant wins and mentioned in the last two quarters.

然而，我們看到一些關鍵垂直領域出現了重新加速的跡象，這一點從一些重大勝利以及過去兩個季度所提到的情況可以看出。

Also, we believe that our in-quarter net-dollar retention rate and gross retention rates have stabilized, and we're poised for a moderate revenue reacceleration in the coming quarters.

此外，我們相信，我們本季的淨美元留存率和毛留存率已經穩定下來，我們準備在未來幾季實現適度的營收加速成長。

Therefore, we are tightening the fiscal year guidance range to be more conservative in the back half, but overall, underlying trends continue to be stabilizing.

因此，我們正在收緊財年指引範圍，以便在下半年更加保守，但總體而言，潛在趨勢持續穩定。

In addition, we have made a great deal of progress on operating margins and improving our free cash flow through a disciplined approach to balancing growth and profitability.

此外，我們透過平衡成長和獲利能力的嚴謹方法，在營業利潤率和改善自由現金流方面取得了很大進展。

I'll add just a few words of thanks before we go to Q&A.

在我們進入問答環節之前，我只想說幾句感謝的話。

Thank you, Dustin, and thank you, Anne, and also a big thank you to our employees.

謝謝你，達斯汀，謝謝你，安妮，也非常感謝我們的員工。

It's been an incredibly fulfilling time at Asana.

在 Asana 的這段時光非常充實。

The company has grown so much in the nearly eight years I've been here, and I feel fortunate to have had the opportunity to lead as CFO.

在我在這裡工作的近八年裡，公司取得了長足的發展，我很幸運有機會擔任財務長來領導公司。

I also want to thank the investment community and especially those of you who have been our shareholders over the last several years.

我還要感謝投資界，特別是過去幾年一直是我們股東的各位。

I continue to be incredibly bullish about Asana as potential.

我依然對 Asana 的潛力非常樂觀。

So this hasn't been an easy decision to make.

因此這並不是一個容易做出的決定。

There's never been a greater need amongst enterprises for a solution like Asana.

企業對 Asana 這樣的解決方案的需求從未如此強烈。

And I believe the company is poised for even greater things in the years ahead.

我相信，未來幾年公司將會取得更輝煌的成就。

Before I turn it over to the operator for Q&A, let me hand it over to Dustin for some closing comments.

在我將話題轉交給接線員進行問答之前，請允許我先將話題交給達斯汀，請他做一些結束語。

Thanks.

謝謝。

One thing I want to add to my formal comments is that I'm planning to enter into a 10b5-1 trading plan as early as September 5 to purchase up to 13.5 million shares of our Class A common stock.

我想在我的正式評論中補充一點，我計劃最早於 9 月 5 日簽訂 10b5-1 交易計劃，購買最多 1350 萬股 A​​ 類普通股。

The plan is subject to the required cooling-off period.

此計劃須遵守必要的冷靜期。

I'm entering into this new plan because I continue to personally believe Asana shares are undervalued given the size and relatively low penetration of the work management market.

我之所以製定這個新計劃，是因為我個人仍然認為，考慮到工作管理市場的規模和相對較低的滲透率，Asana 的股票被低估了。

And I trust in the path we've charted ahead to be the leader in the category while delivering value to our investors.

我相信，我們規劃的道路將讓我們成為該領域的領導者，同時為我們的投資者帶來價值。

Thank you, Dustin.

謝謝你，達斯汀。

Before I open it up to Q&A, I wanted to note that Mr. Moskowitz's plan is separate from the company's ongoing share repurchase program and his statements regarding his trading plan to purchase shares of our Class A common stock may be considered forward-looking statements that are subject to risks and uncertainties, including that his trading plan may be modified, suspended, or terminated by him at any time.

在開始問答環節之前，我想指出，Moskowitz 先生的計劃與公司正在進行的股票回購計劃是分開的，他關於購買我們 A 類普通股的交易計劃的聲明可能被視為前瞻性陳述，面臨風險和不確定性，包括其交易計劃可能隨時被修改、暫停或終止。

There can be no assurance that the price and volume parameters of his trading plan will result in purchases of shares of our Class A common stock in line with the expectations in such forward-looking statements.

無法保證其交易計劃的價格和數量參數將導致購買我們的 A 類普通股股票符合此類前瞻性陳述的預期。

And with that, operator, we are ready for questions.

接線員，現在我們可以回答問題了。

(Operator Instructions)

（操作員指令）

Taylor McGinnis, UBS.

瑞銀的泰勒麥金尼斯。

Hi.

你好。

Thanks so much for taking my questions.

非常感謝您回答我的問題。

Just the first one.

僅第一個。

So you talked about seeing stabilization and expansion rates in the quarter and being through the worst of the renewal optimization.

所以您談到了本季的穩定和擴張率，以及經歷了更新優化的最糟糕時期。

But it also sounds like upside might have been a little bit lighter due to some deal delays.

但由於一些交易的延遲，上行潛力似乎也可能較小。

So can you just offer what gives you confidence in the acceleration implied in 4Q based on what you're seeing at the start of 3Q?

那麼，根據您在第三季初看到的情況，您能否給出一些證據表明，第四季度的經濟加速成長是有信心的？

Is that just a function of retention rates improving and starting to maybe see an inflection in revenue growth amongst technology companies?

這是否只是留存率提高的結果，並且可能開始看到科技公司收入成長的轉折點？

Or do you need to see an acceleration in other verticals or an improvement in net upsells?

或者您需要看到其他垂直行業的加速發展或淨追加銷售額的改善？

Thank you so much.

太感謝了。

Hey, Taylor.

嘿，泰勒。

This is Tim.

這是蒂姆。

Yeah, I want to just say what we had talked about even in our kind of previous earnings call is really kind of getting past these bigger renewals that we knew about that would likely be downgrades.

是的，我只想說，我們在之前的財報電話會議上討論過如何度過這些我們知道可能會導致降級的更大規模的續約。

And I feel like we are past that now, and that will be a tailwind and essentially kind of the stabilization point that we needed to do to reaccelerate the business.

我覺得我們現在已經度過了那個階段，這將是一個順風，本質上是我們重新加速業務所需的一種穩定點。

Some of the deals -- and I would say that we had hoped to close in Q2 have moved into Q3.

我想說的是，我們原本希望在第二季完成的一些交易已經推遲到第三季。

They haven't fallen out of the pipeline.

它們並沒有脫離管道。

We expect the team and the businesses to essentially close those deals in Q3.

我們預計團隊和企業將在第三季完成這些交易。

So I think we're encouraged by the pipeline, but a lot of it is really just the bottoming out of our gross renewal rate.

因此，我認為我們對通路感到鼓舞，但其中很大一部分實際上只是我們的總續約率觸底。

Great.

偉大的。

Thank you.

謝謝。

And then maybe Dustin, one for you, which is the -- you talked a lot about innovation around Asana and AI and what you guys are doing there as well as it relates to some tinkering around pricing and packaging.

然後也許是達斯汀，為您準備了一個，您談了很多關於 Asana 和 AI 的創新，以及您在那裡所做的事情，以及它與定價和包裝方面的一些調整有關。

So can you just maybe talk about when those changes could be a bigger driver of growth down the line, and some of the customer feedback that you've heard that's driving those decisions?

那麼您能否談談這些變化何時會成為未來成長的更大推動力，以及您聽到的一些推動這些決策的客戶回饋？

Thank you.

謝謝。

Yeah.

是的。

So I think you're referring to in the last earnings call, I was talking about the possibility of consumption-based revenue around what we called in that call custom work flows.

所以我認為你指的是上次財報電話會議上，我談到了圍繞我們所說的客製化工作流程實現基於消費的收入的可能性。

This time, we're introducing a new term, AI Studio, which is the same idea, but this is really a new package that customers will be able to purchase on starting in Q4 that will give them the ability to build those custom workflows.

這次，我們推出了一個新術語AI Studio，它的想法是一樣的，但這實際上是一個新的軟體包，客戶將能夠從第四季度開始購買，這將使他們能夠建立那些自訂的工作流程。

I think we're still seeing incredibly great engagement from the customers in the pilot, and they all want to proceed on.

我認為我們仍然看到試點客戶的高度參與，他們都想繼續下去。

And I have huge hopes for how far that goes.

我對此抱有很大的希望。

I'm hoping to be here next year talking about the pilot customers now doing hundreds or even thousands of workflows in Asana, but it's still pretty early to be able to quantify it.

我希望明年能在這裡談論試點客戶現在在 Asana 中執行數百甚至數千個工作流程，但現在量化它還為時過早。

What I do know is sales will have something to sell in Q4, and I expect some amount of revenue from that, but not material revenue.

我所知道的是，銷售部門在第四季會有一些東西可賣，而且我預計這會為他們帶來一些收入，但不是實質收入。

And then the hope is that's building pretty quickly into the early quarters of next year when we see some of those early customers start to get into enough volume that they're also triggering the incremental consumption revenue.

然後我們希望，到明年初期，這一趨勢能夠迅速形成，屆時，一些早期客戶將開始獲得足夠的銷量，從而引發增量消費收入。

So I think it will start by buying a package, probably including some professional services, and that will begin by in Q4.

因此，我認為它將從購買一個套餐開始，可能包括一些專業服務，這將從第四季度開始。

And then next year, I'm hoping it becomes material revenue, and we'll just know more and more as we go along with the pilot customers.

然後明年，我希望它能成為實質收入，隨著我們與試點客戶的合作，我們將了解更多資訊。

You can see what they look like later in the funnel.

您稍後可以在漏斗中看到它們的樣子。

And that would give us the ability to quantify it better for guidance.

這將使我們能夠更好地量化並提供指導。

Josh Baer, Morgan Stanley.

摩根士丹利的喬許貝爾 (Josh Baer)。

Thanks.

謝謝。

And Tim, it's been great working with you.

提姆，和你一起工作很愉快。

Good luck in the next chapter.

祝下一章好運。

Wanted to ask about the deals that were pushed.

想詢問有關所推動的交易。

Any sense for why they were pushed, how big they were, how many, and what gives you confidence that they'll close next quarter?

您知道他們為什麼要推動這些交易嗎？ 交易規模有多大？

Hi, Josh.

嗨，喬希。

It's Anne.

是安妮。

Thanks so much for your question.

非常感謝您的提問。

So what we saw in the selling environment was, especially for larger deals in larger organizations, is the decision-making cycle has been elongated, but things are relatively stable compared to last quarter in terms of sentiment.

因此，我們在銷售環境中看到的情況是，特別是對於大型組織中的較大交易，決策週期已延長，但與上一季相比，情緒相對穩定。

While a number of these deals did push out of the quarter, we actually saw a good percentage of them closed in August, and the rest are remaining in pipeline.

雖然其中許多交易確實在本季推遲了，但我們實際上看到其中很大一部分在 8 月完成，其餘交易仍在籌備中。

So a lot of our focus as a team really is on big deal conversion rates in this environment.

因此，我們團隊的許多重點實際上是在這個環境下的大宗交易轉換率。

And so that's what we're swarming around the teams that are working on the largest deals, both the ones that got pushed into the quarter and the ones that we're working through in this quarter.

因此，我們正在聚集團隊來處理最大的交易，包括本季已經推進的交易和本季正在處理的交易。

So that's where our focus really is is making sure those large deals have the right resources to get them across the finish line.

因此，我們的重點是確保這些大交易擁有適當的資源，以幫助其順利完成。

Got it.

知道了。

Thanks, Anne.

謝謝，安妮。

And maybe for Tim or Dustin, just wondering if there's any more context as far as the CFO transition.

也許對於 Tim (Tim) 或達斯汀 (Dustin) 來說，只是想知道關於財務長 (CFO) 過渡是否還有更多背景資訊。

Any more color you could provide as far as the timing and the change?

您能提供更多有關時間和變化的資訊嗎？

Thank you.

謝謝。

This is Dustin.

這是達斯汀。

Tim should speak up too, but I think it's easy to look at something like this and think it's in reaction to what's happening right now.

蒂姆也應該站出來發言，但我認為，看到這樣的事情，我們很容易認為這是對當前發生的事情的反應。

But the reality is this is a much longer, our conversation that Tim and I have been having with them and just trying to figure out the right time for him to make a transition because he wanted to take some time off and then also think about maybe one last big career move before retirement.

但事實上，這是一個更長的時間，蒂姆和我一直在和他們交談，只是想找出他轉變的正確時間，因為他想休息一段時間，然後也考慮一下退休前最後一次重大的職業轉變。

And so we've been talking about this for a while.

我們已經討論這個問題有一段時間了。

Don't love how the timing ended up, but I think it's pretty much a coincidence.

我不喜歡這個時機的結束，但我認為這基本上是一個巧合。

And this just ended up being how it worked out after talking about it for a while.

經過一段時間的討論後，事情最終就這樣解決了。

Really sad to see him go on.

看到他繼續下去真的很難過。

But also, as I said, it's bittersweet, because we're also getting the opportunity to work with a really talented new CFO in Sona.

但正如我所說，這也是苦樂參半的，因為我們也有機會與 Sona 一位真正才華橫溢的新財務長合作。

And I know from experience if you lose something important, when somebody with Tim's experience walks out the door, but it's also just a chance to kind of shake things up and see things with new eyes.

我從經驗中知道，如果你失去了一些重要的東西，當具有蒂姆這樣經驗的人離開時，但這也只是一個改變現狀、用新眼光看待事物的機會。

Hey, Josh.

嘿，喬希。

This is Tim.

這是蒂姆。

Yeah, there was -- like Dustin mentioned, this was a very long conversation.

是的，正如達斯汀所提到的，這是一次非常漫長的對話。

And I had wanted to -- I've been here for almost eight years, and it was really an opportunity to take some time off, reset, and refresh my mind and think about what's next on.

我一直想——我已經在這裡待了將近八年了，這真的是一個休息一段時間、重新調整、刷新思維並思考下一步的機會。

I love this company.

我很喜歡這家公司。

I love the people I work with every day.

我愛每天和我一起工作的人們。

I love problems that we solve.

我喜歡我們解決的問題。

And honestly, it was a incredibly difficult decision.

老實說，這是一個極為艱難的決定。

George Iwanyc, Oppenheimer.

喬治·伊万尼克 (George Iwanyc)，奧本海默。

Thank you for taking my question.

感謝您回答我的問題。

And Tim, I also wish you the best with what's ahead.

提姆，我也祝你未來一切順利。

Anne, maybe just starting with the technology vertical, can you give us a little bit of color there?

安妮，也許只是從技術垂直領域開始，您能給我們一些背景資訊嗎？

Have you reached that point of stability with most of your customers there and maybe put that in perspective of what you're seeing from a logo churn standpoint as well?

您的大多數客戶是否已經達到了穩定點，並且是否可以從徽標流失的角度來看待這一點？

Yeah.

是的。

Thanks, George.

謝謝，喬治。

Happy to dive in a little bit more on tech.

很高興能夠更深入地探討科技。

While tech was a drag on growth for us this quarter, I do want to just pause and reiterate that tech continues to be super important to us for a number of reasons.

雖然科技是我們本季成長的拖累因素，但我想再次重申，出於多種原因，科技對我們來說仍然非常重要。

It's where we partner with some of the most innovative companies in the world to build our products.

在這裡，我們與世界上一些最具創新精神的公司合作來製造我們的產品。

We mentioned earlier, we're the platform of choice for the two largest LOM companies, and we expanded with them this quarter as well as we continue to work really closely with them as we build out our AI solutions.

我們之前提到過，我們是兩家最大的 LOM 公司的首選平台，本季我們與他們一起擴大了業務，並且在建立我們的 AI 解決方案時繼續與他們密切合作。

And so our ability to partner with technology companies who are innovators and early adopters really helps us to continue to differentiate our product and really shape where the category is going.

因此，我們與創新者和早期採用者科技公司合作的能力確實有助於我們繼續區分我們的產品，並真正塑造該類別的發展方向。

And so we feel that's also quite important to our growth in the developing verticals such as manufacturing, energy, retail and consumer, transportation and healthcare.

因此，我們認為這對於我們在製造業、能源、零售和消費、運輸和醫療保健等發展中的垂直領域的成長也非常重要。

Our non-tech sector actually had good mid-teens growth this quarter.

本季度，我們的非科技部門實際上實現了良好的中等程度的成長。

And some of that partnership with technology organizations is important to these non-tech customers because the leading organizations really care about implementing the best solution that's available that they can securely and innovatively scale with.

與技術組織的部分合作對於這些非技術客戶來說非常重要，因為領先的組織真正關心的是實施可用的、可以安全且創新地擴展的最佳解決方案。

And so we're -- we will -- we saw stability, I think, we mentioned in terms of where retention and renewals are.

因此，我們將看到穩定性，我想，我們提到了保留和更新方面的情況。

I think we'll continue to partner with technology companies.

我認為我們會繼續與科技公司合作。

But the diversification outside of tech is one of our main focus areas, and we're pleased to see some early signs and positive indicators in those sectors.

但技術之外的多樣化是我們主要關注的領域之一，我們很高興看到這些領域出現了一些早期跡象和積極指標。

Okay.

好的。

And just following up on that with respect to logo churn?

並且只是就徽標變更進行跟進嗎？

And then maybe, give us a sense of where you are with the sales initiatives across the four points that you are highlighting?

然後，您能不能向我們介紹一下您強調的四點銷售舉措的進展？

Yeah.

是的。

The focus areas that we mentioned in investing and more consistent post-sales -- including services, we are seeing that services are incredibly important for a larger deal, in particular, migration and deployment.

我們在投資和更一致的售後方面提到的重點領域——包括服務，我們看到服務對於更大的交易非常重要，特別是遷移和部署。

And so those services either provided by us or our growing partner ecosystem.

這些服務要麼由我們提供，要麼由我們不斷成長的合作夥伴生態系統提供。

I mentioned improving velocity.

我提到過提高速度。

That's really important, especially with the bigger deals.

這真的很重要，尤其是對於較大的交易而言。

So further streamlining our sales processes and systems.

因此進一步簡化我們的銷售流程和系統。

In particular, we're also excited about the energy and interest in AI products, especially from our largest customers.

特別是，我們對人工智慧產品的活力和興趣感到非常興奮，特別是來自我們最大的客戶。

So it gives us an opportunity actually to have a different conversation, in particular with AI councils or people within a CIO organization that are leading AI initiatives and kind of opens up new avenues for us.

因此，這實際上為我們提供了進行不同對話的機會，特別是與 AI 委員會或 CIO 組織內領導 AI 計劃的人員進行對話，並為我們開闢了新的途徑。

So while it's early and we're piloting, the positive feedback from our largest and most important customers has been great, and we're excited to bring that to more of our customers when we go GA.

因此，雖然現在還處於早期階段並處於試點階段，但我們最大和最重要的客戶給予了積極的回饋，我們很高興在正式推出產品時能夠將其帶給更多的客戶。

And then, just to reiterate my earlier point, focusing on strategic industry verticals to really diversify our business.

然後，重申我先前的觀點，專注於策略垂直產業，真正實現業務多元化。

So we're working hard on all those fronts and continue to be excited that -- most important for us is that our global revenue leadership team is in place and working really well together.

因此，我們正在所有這些方面努力工作，並繼續感到興奮——對我們來說最重要的是我們的全球收入領導團隊已經到位並且合作得很好。

Alex Zukin, Wolfe Research.

沃爾夫研究公司的亞歷克斯祖金 (Alex Zukin)

Hey, guys.

嘿，大家好。

This is Rich Magnus on for Alex.

這是 Rich Magnus 為 Alex 主持的。

Can you talk more about how the competitive landscape has evolved over the last 12 months?

您能否詳細談談過去 12 個月競爭格局是如何演變的？

And separately, can you give us some more color on how to think about billings trends over the next few quarters?

另外，您能否向我們詳細介紹一下未來幾季的帳單趨勢？

Thanks.

謝謝。

Yeah, this is Dustin.

是的，這是達斯汀。

I'm not going to be surprised to hear this.

聽到這我不會感到驚訝。

We haven't seen a whole lot of change in the competitive landscape in recent months.

近幾個月來，我們並沒有看到競爭格局發生太大的變化。

I think we're seeing -- we think we're in a lot of the consolidation deals, and we're seeing customers hesitate to make a decision either way.

我認為我們看到——我們認為我們參與了很多合併交易，並且我們看到客戶在做出決定時猶豫不決。

And so I think that's sort of definitionally what our competitors are seeing as well, who are in those deals.

所以我認為這在某種程度上也是我們參與這些交易的競爭對手所看到的。

Anne, do you want to take the second half of that?

安妮，你想聽後半部嗎？

So the question was just like what is giving us confidence about billings in the next two quarters.

所以問題就像是什麼讓我們對未來兩季的出貨量充滿信心。

Is that fair?

這樣公平嗎？

Yeah, for sure.

是的，當然。

Yeah, I think what's giving us confidence is just the continued improvement on it across our revenue operations and execution.

是的，我認為讓我們有信心的是我們的收入運作和執行方面的持續改善。

I think some of the things that we're also seeing early signs of -- we've been investing a lot in enablement and ramping new reps.

我認為我們已經看到了一些早期跡象——我們已經在支持和培養新代表方面投入了大量資金。

That's been a big initiative.

這是一個重大舉措。

I mentioned earlier, just investment in streamlining our processes, and that's both operational processes but also systems.

我之前提到過，我們只是對簡化流程進行投資，這不僅包括營運流程，也包括系統。

Just making sure, frankly, that more of our reps' time is spent strategically with customers and prospects and then just consistency around being able to close the larger deals.

坦白說，我們只是確保我們的銷售代表花更多的時間在客戶和潛在客戶身上，然後始終如一地達成更大的交易。

So I think as that work continues --- and we're seeing that in across all of our regions.

所以我認為隨著這項工作的繼續——我們會在所有地區看到這一點。

Maybe I'll also dig in a little bit deeper.

或許我還會深入挖掘一下。

This quarter, some of the areas and regions that we saw good consistent growth were actually outside of the US.

本季度，我們看到持續良好成長的一些地區和區域實際上是在美國以外的。

So by geography, EMEA and Japan led our revenue growth and grew about 12% year over year.

從地理來看，歐洲、中東和非洲地區以及日本引領了我們的營收成長，年增約 12%。

And so those teams continue to execute really well.

因此這些團隊繼續表現出色。

Especially on larger deals, those leadership teams have been in place a bit longer than our Americas team.

特別是在較大的交易中，這些領導團隊的存在時間比我們的美洲團隊要長一些。

So those are good leading indicators that North America where our general managers have been in place for two quarters and have been really working with the teams there will be able to see that in the coming quarters.

因此，這些都是良好的領先指標，表明在北美，我們的總經理已經在任兩個季度，並且一直與那裡的團隊密切合作，將能夠在未來幾季看到這一點。

Michael Funk, Bank of America.

美國銀行的麥可‧芬克（Michael Funk）。

Yeah, hi.

是的，你好。

Thank you for the questions this evening.

感謝您今晚的提問。

And Tim, thank you again for all the help with the company.

提姆，再次感謝你對公司的所有幫助。

So a couple if I could.

如果可以的話，我會選幾個。

You mentioned a couple times that some deal stalled in the pipeline during the quarter.

您多次提到本季有些交易陷入停滯。

Can you be more specific about where in the pipeline they stalled?

你能具體說明一下他們在管道的哪個位置停滯了嗎？

Presumably, you have metrics on deal closure rates, certainty as you're closer to the end of the pipeline of the deal versus the beginning.

假設您有關於交易成交率的指標，並且確定性是您更接近交易流程的末尾而不是開頭。

So any additional color or commentary there would be appreciated.

因此，如果能提供任何補充資訊或評論，我們將不勝感激。

Sure.

當然。

Happy to add some more commentary.

很高興添加更多評論。

As our focus has been on moving up market and working with larger enterprise customers, we are seeing more back-end loading in the quarter on the larger deals.

由於我們的重點是拓展市場和與更大的企業客戶合作，我們在本季看到更大交易的後端負載增加。

I think that's sort of just a natural evolution of our focus at market.

我認為這只是我們市場關注度的自然演變。

And so what we saw in those deals was that they sort of slipped from the end of Q2, as I mentioned, into Q3.

因此，我們看到這些交易從第二季末（正如我所提到的）開始下滑到第三季。

But again, we're seeing signals that we are able to close those in Q3.

但我們再次看到跡象表明我們能夠在第三季解決這些問題。

So a lot of that is just a pattern that we're seeing as we work with larger deals and larger enterprise customers.

所以，這在很大程度上只是我們在與更大的交易和更大的企業客戶合作時看到的模式。

And part of that is strengthening our muscle to be able to close those in quarter, and that's the focus for us.

其中一部分是加強我們的力量以便能夠在四分之一決賽中結束比賽，這是我們的重點。

Okay.

好的。

And then I think the company investor focus and the stock reaction aftermarket is primarily the 3Q guide and the greater weighting on 4Q now, I think, presume or the imply for 4Q sequential dollars step-up, if you will, to larger moves in the last couple of years.

然後，我認為公司投資者的關注點和股票市場的反應主要是第三季度的指引，而現在第四季度的權重更大，我認為，假設或暗示第四季度的連續美元增長，如果你願意的話，過去幾年。

So what concrete breakdown of the factors can you give us to give us confidence in that 4Q revenue step-up, whether that is your forecast for less seat churn, large deals go-lives that you have towards the end of pipeline?

那麼，您能給我們哪些具體的因素來讓我們對第四季度的營收成長充滿信心，無論是您預測的座位流失率降低，還是您在管道末端的大型交易上線？

Anything to help people get more confidence in the back-end loading for the year would be appreciated.

任何能夠幫助人們對今年的後端加載更有信心的事情都會受到讚賞。

Yeah.

是的。

Hey, Michael, this is Tim.

嘿，邁克爾，我是蒂姆。

I think there's really two points.

我認為實際上有兩點。

One, as I mentioned, we know what the renewal base looks like, and many of the larger renewals and downgrades that we had to lap have already happened.

首先，正如我所提到的，我們知道更新基礎是什麼樣的，而且我們必須完成的許多較大的更新和降級已經發生。

And we feel really confident around based on the rates that were going into the quarter with respect to renewals.

根據本季的續約率，我們感到非常有信心。

So we view that as less of a headwind.

因此，我們認為這並不是什麼阻力。

So that's one.

這就是其中之一。

Two, a good majority of the deals that did move from Q2 and Q3 have already closed.

二，第二季和第三季的大部分交易已經完成。

The pipeline continues to be healthy.

管道持續健康運作。

And I feel like we have really good visibility in terms of the dials and levers converting those deals.

我覺得，就轉換這些交易的手段和槓桿而言，我們擁有非常好的可視性。

So it's really a combination of just like, hey -- lapping some of the more difficult on renewals, which we have and two, what we're going into the quarter with.

因此，這實際上就像是，嘿 — — 解決一些更困難的續約問題，這是我們已經解決的問題，其次，我們在本季度將要解決的問題。

So if we close those deals in Q3, generally the GAAP revenue you'll see will impact Q4.

因此，如果我們在第三季完成這些交易，通常您看到的 GAAP 收入將影響第四季。

Brent Thill, Jefferies.

傑富瑞的布倫特‧蒂爾 (Brent Thill)。

Tim, congrats on the eight-year run and moving forward in the next chapter.

提姆，恭喜你八年的歷程，並在接下來的篇章中繼續前進。

Dustin, you're not alone in terms of what's happening in the software industry.

達斯汀，就軟體產業所發生的事情而言，你並不孤單。

It feels like many are taking down guide or seeing things pushed out.

感覺很多人都在撤下指南或看到一些東西被推掉了。

I guess from your perspective, what do you think is going on if you had to take a look at a 40,000-foot level?

我想從您的角度來看，如果您必須從 40,000 英尺的高度來看，您認為會發生什麼？

Is it consuming what customers have?

它是否消費了顧客所擁有的東西？

Is it AI stall?

是AI失速嗎？

Is there a blend of things that you're seeing?

您所看到的事物是不是有些混合的？

What do you would you think is actually causing this stall out across the industry?

您認為導致整個產業停滯的真正原因是什麼？

Yeah, there are a few big trends on.

是的，有幾個大趨勢。

Obviously, I think that -- especially what we're seeing in tech is still kind of the unwinding of the over-hiring and overspending that we saw at the beginning of the pandemic.

顯然，我認為——尤其是我們在科技領域看到的情況，仍然是疫情開始時出現的過度僱用和過度支出現象的緩解。

And it's the same thing we're doing with our own internal IT budgets as we're just being incredibly judicious about starting new vendor relationships.

我們對內部 IT 預算的做法也是一樣的，因為我們在建立新的供應商關係時非常謹慎。

We're trying to consolidate vendors.

我們正在嘗試整合供應商。

We're actively de-provisioning seats.

我們正在積極取消席位供應。

And all of that is just about budget control.

所有這些都只是為了預算控制。

And additionally, I think IT and procurements is taking the opportunity to trial and consolidate and choose the vendors that they're going to bet on for the long run.

此外，我認為 IT 和採購部門正在藉此機會進行試驗、整合並選擇他們將長期信賴的供應商。

But at the same time, they're trying to do that within a constrained both dollar and sort of energy environment internally, and it takes a little bit of change of management to do that consolidation and to push it through and to make those big decisions that they're going to live with for a while.

但同時，他們試圖在有限的美元和能源環境下實現這一目標，並且需要一些管理變革來實現整合並推動其實現，並做出重大決策他們將會忍受一段時間。

And so they just have like a little bit less capacity to do that.

所以他們做這件事的能力就差了一點。

And then that all coupled with what I think is massive uncertainty in the economic environment and then also just with how AI is going to play out on.

而這一切，再加上我認為的經濟環境中的巨大不確定性，以及人工智慧將如何發揮作用。

So we've been talking a lot about this idea lately that the coming wave of AI transformation is even bigger than what people have been calling digital transformation for the past 10 years.

因此，我們最近一直在談論這個想法：即將到來的人工智慧轉型浪潮比過去 10 年人們所說的數位轉型還要大。

And I think that some enterprises are trying to figure out whether and where it may actually leapfrog digital transformation.

我認為一些企業正在試圖弄清楚是否以及在哪些方面可以真正實現數位轉型。

And it would actually be kind of a waste of time to invest in a technology that's just going to be sort of obsoleted by something else in one or two years on.

投資一種在一兩年後就會被其他技術取代的技術其實有點浪費時間。

So that's a pretty difficult environment to make decisions.

因此，在這樣的環境下做出決策是相當困難的。

Again, we are often faced with those same sorts of decisions ourselves internally and end up doing proofs of concept some things and then pulling back and trying another vendor, trying to solve things in Asana or not in Asana.

再次，我們自己內部也經常面臨同樣的決策，最終對一些事情進行概念驗證，然後放棄並嘗試其他供應商，嘗試在 Asana 中或不在 Asana 中解決問題。

And so, I'm very sympathetic.

因此我深表同情。

And strategically, what we're trying to do is meet the customers in the moment and provide a solution that can be part of their digital transformation continuity and the answer to AI transformation for them by embedding AI Studio -- by delivering AI Studio and giving them the opportunity to embed AI directly in the workflows where they already live.

從策略上講，我們正在嘗試做的是滿足客戶當下的需求，並透過嵌入AI Studio 提供AI Studio 和提供AI 轉型解決方案，使其成為他們數位轉型連續性的一部分，也是他們實現AI 轉型的答案。

Great.

偉大的。

A quick one for on Tim or Anne.

關於 Tim) 或安妮 (Anne) 的快速問題。

About a year ago, Ed joined and took over on the sales side.

大約一年前，艾德加入並接手了銷售方面的工作。

Can you walk through the changes kind of how far you are in implementing some of those changes that you've made or maybe they're fine tunes.

您能否詳細介紹這些變化，例如您在實施這些變化方面的進展如何，或者這些變化只是一些微調。

I don't know how you would characterize his strategic actions, but if you can just give us a sense of kind of where you're at for that journey you're having, having Ed onboard since last August?

我不知道您如何描述他的策略行動，但您能否向我們介紹一下自從去年 8 月 Ed 加入我們以來，您的旅程進展到了什麼程度？

Yeah.

是的。

I'm happy to cover that.

我很高興報道此事。

So yeah, Ed just crossed kind of one-year mark with us.

是的，艾德和我們在一起已經一年了。

And I would say the most important things that he's been doing, we now have a global revenue leadership team in place, general managers in all of our most important regions as well as new enterprise sales leaders in our top markets.

我想說的是，他所做的最重要的事情是，我們現在擁有一個全球收入領導團隊，在我們所有最重要的地區都有總經理，在我們的主要市場也有新的企業銷售領導。

So that's been also really important.

所以這也非常重要。

Ed also brought onboard a new Head of Global Channel, who has now been with us almost two quarters and has been also working really diligently with our post-sales team, which is really important to both services and customer success, renewals teams across every region.

Ed 還任命了一位新的全球通路主管，他現在已經在我們公司任職近兩個季度，並且一直非常勤奮地與我們的售後團隊合作，這對每個地區的服務和客戶成功都非常重要。

And so I'd say the most important things has just been ensuring that we have the right team around the world and in all of our top markets.

因此我想說最重要的事情是確保我們在全球以及所有主要市場都擁有合適的團隊。

I think some other focus areas have been really diving in on verticals, our most important verticals outside of technology.

我認為其他一些重點領域已經真正深入垂直領域，這是我們除技術之外最重要的垂直領域。

And so that's also where we're seeing good progress.

這也是我們看到良好進展的地方。

And I would also say just a really tight partnership with our global marketing team.

我還要說的是，我們與全球行銷團隊的合作關係非常緊密。

So some of the things where we're seeing grid signal that's helping us build the right kind of pipeline and the right relationships with director plus decision makers and C-level decision-makers is all our investment in our Work Innovation summits.

因此，我們看到網格訊號幫助我們建立正確的管道以及與主管、決策者和 C 級決策者的正確關係，這些都是我們對工作創新高峰會的投資。

That pacing has been really strong this year.

今年的節奏非常強勁。

We brought that event to all of our markets.

我們將該活動帶到了我們所有的市場。

We have our two most important events coming up in October and November.

我們將在十月和十一月舉辦兩場最重要的活動。

And just the -- I think the customer engagement and the volume of responses and the ability to really have our global team kind of meet our customers where they as Dustin said but also meet with prospects and decision-makers who are looking at their medium- to long-term investments.

而且我認為，客戶參與度和回應量以及讓我們的全球團隊真正與客戶見面的能力，正如達斯汀所說，同時也會見了關注其媒介的潛在客戶和決策者。

So I think those are all result of the investment that has been putting in place over the last year, and we're excited to see more to come.

所以我認為這些都是去年投資的結果，我們很高興看到未來會有更多投資。

Jackson Ader, KeyBanc Capital Markets.

傑克遜·阿德（Jackson Ader），KeyBanc 資本市場。

Thanks for taking our questions, guys.

謝謝你們回答我們的問題。

Anne or Dustin, the first question for you guys on the impact in the tech sector.

安妮或達斯汀，你們的第一個問題是關於對科技業的影響。

How much of the modest slope in the reacceleration curve is kind of due to that sector's subdued spending now?

再加速曲線的溫和斜率在多大程度上是由於該行業目前的支出低迷所造成的？

And then how much do you think that the steepening of that curve could be juiced by tech coming back in the future as being one of the, I assume, an early adopter or frequent adopter of some of your AI innovations?

那麼，您認為這條曲線的陡化程度將在多大程度上受到未來技術的回歸的推動，我認為，這些技術將成為您們某些人工智慧創新的早期採用者或頻繁採用者之一？

I'm not quite sure quite how to answer that.

我不太確定該如何回答這個問題。

But I think we've been clear that the tech is a drag on overall growth.

但我認為我們已經清楚，科技阻礙了整體成長。

And so we're seeing some segments that are growing faster than our overall growth rate right now and look like they're starting to accelerate.

因此，我們看到一些細分市場的成長率超過了我們目前的整體成長率，而且看起來它們正在開始加速。

And so if tech stops being a drag, we would at least go up to those overall -- to the growth rates of the better segments.

因此，如果技術不再成為拖累，我們至少會整體上提高這些更好細分市場的成長率。

And if it reaccelerated, yeah, that would be fantastic.

如果它重新加速，那將太棒了。

And we're certainly not modeling it that way.

我們當然不會以那種方式建模。

And it's really hard to know the timing.

而且確實很難知道時間。

But if AI transformation really takes off and Asana is seen as the solution of choice for that, then that is definitely an excellent outcome for us.

但如果人工智慧轉型真正起飛，並且 Asana 被視為首選解決方案，那麼這對我們來說絕對是一個極好的結果。

Right.

正確的。

Okay.

好的。

All right.

好的。

Thank you.

謝謝。

And then, Dustin, just a couple of quick follow-ups on the 10b5-1.

然後，達斯汀，我們再就 10b5-1 做一些快速的跟進。

And I know I've asked this before, but it's just relevant again.

我知道我之前問過這個問題，但這仍然具有相關性。

Do you worry at all about like the -- your stepping in again and again, at some point, sends counterproductive message to employees or the company around operational and financial discipline?

您是否擔心，您一次又一次的介入，在某種程度上，會給員工或公司在營運和財務紀律方面發出適得其反的信息？

And then second, is there anything that we should take away from the relative size of this plan that starts a couple of days from now versus the 30 million shares from last year?

其次，與去年的 3000 萬股相比，這項幾天後開始實施的計劃的相對規模有什麼值得我們借鑒的地方嗎？

The operational discipline thing would make more sense to me if I was funding the operations of the company, but I think it's pretty independent.

如果我為公司的營運提供資金，那麼營運紀律對我來說會更有意義，但我認為它是相當獨立的。

Our commitment to discipline on free cash flow and building up margins, I don't think it's changed much by me being a buyer in the market.

我們致力於控制自由現金流和提高利潤率，我認為身為市場買家，這一點並沒有太大改變。

In terms of the timing, I just wanted to point out, people often and sort of read into when I put the plans in market or even the days they're buying and what's going on in the market or going on in the business, but actually have a plan like way in advance.

關於時間安排，我只想指出，人們經常會關注我何時將計劃推向市場，甚至是購買的日子，以及市場或業務中正在發生的事情，但實際上提前就有了計劃。

And so the company buying plan is very different.

因此公司的購買計劃非常不同。

In fact, in the open window, it can kind of be aggressive on a day-to-day basis.

事實上，在開放的視窗中，它每天都會變得具有攻擊性。

But for me, I've got the cooling-off period and then it sort of set it and forget it on what the plan is.

但對我來說，我已經有了冷靜期，然後就把計畫定下來並忘記它了。

And historically, I found it difficult to sort of predict what the market was going to do to the stock, especially during all the uncertainty with our inflation and with everything that was happening on the years before that.

從歷史上看，我發現很難預測市場對股票的影響，特別是在通貨膨脹和前幾年發生的一切不確定的情況下。

And the reason I'm entering the market now is I think this is different.

我現在進入這個市場的原因是我認為這是不同的。

I think this is a point of stabilization.

我認為這是一個穩定點。

A low point, but a point of stabilization for on the economy and for the tech sector.

這是一個低點，但對於經濟和科技業來說也是一個穩定點。

And relatedly, for the Asana business.

與此相關的是，對於 Asana 業務而言。

And even though I think there will be some continued uncertainties, I just feel more confident that this is a time in the market when I can do this very slow process to sort of declare my intentions way in advance and not end up getting sort of too rocked by exogenous factors on.

儘管我認為還會有一些不確定性，但我更有信心，在市場上，這是一個我可以以非常緩慢的方式提前表明我的意圖的時機，而不是最終變得太受到外部因素的衝擊。

But it's not something I plan to do again and again.

但這不是我計劃一再做的事情。

The sizing, the number of shares is really a function of the price schedule and, I mean, more made a decision around the amount of money.

股票的規模和數量實際上是價格表的函數，我的意思是，更多的是根據金額做出的決定。

And I'll just say also the -- I found it interesting to put in plans, announce the sort of up to number and then how people sort of anchor around that on.

我還要說的是——我發現制定計劃、宣布最高數字以及人們如何圍繞這一點進行決策很有趣。

I'll just emphasize there is a price schedule, and I think what happened with the last plan had as much to do with prevailing market conditions as what my original intentions were.

我只想強調有一個價格表，我認為上一個計劃的結果與當前的市場狀況以及我最初的意圖有很大關係。

So pretty hard to give you a lot more detail than that was tough without sort of revealing enough information to be front-run.

因此，如果不透露足夠的資訊以供搶先了解，那麼很難向您提供更多細節。

But that's kind of where I'm at.

但我的現狀就是這樣。

I'm intrigued, I guess, by this operational discipline thing, but that isn't really a primary lens I've had for thinking about it.

我想，我對這種操作紀律的事情很感興趣，但這不是我思考它的主要視角。

Patrick Walravens, Citizens JMP.

Patrick Walravens，公民 JMP。

Well, great.

嗯，很棒。

Thank you.

謝謝。

So bigger picture here, Dustin.

所以這裡有更大的圖景，達斯汀。

How do you see this whole world of AI agents playing out?

您如何看待整個人工智慧代理世界的發展？

You guys have years and you have nine different features I think that are generally available from one of your slides.

你們多年來一直致力於研究九種不同的特點，我認為這些特點通常可以從你們的一張投影片中看出。

Bret Taylor just launched Sierra.

布雷特泰勒 (Bret Taylor) 剛剛推出了 Sierra。

Benioff just announced Agentforce and said that was going to be the highlight of Dreamforce.

貝尼奧夫剛剛宣布了 Agentforce，並表示這將成為 Dreamforce 的亮點。

So what should investors expect in terms of how these things are going to be differentiated?

那麼，對於這些事物將如何區別，投資者該有何期待呢？

And how do you see it playing out?

您認為其將如何發展？

Yeah.

是的。

I think agent is an interesting term, because it means a lot of different things to different people.

我認為“代理”是一個有趣的術語，因為它對不同的人來說有很多不同的含義。

One of the things that I've seen a lot of people try and deliver and try and buy is really almost the equivalent of like a humanized physical robot.

我見過很多人嘗試交付和購買的東西實際上幾乎相當於人性化的實體機器人。

Just something that could theoretically be a drop-in replacement to an actual person you have in the org.

從理論上講，這只是一個可以取代組織中實際人員的東西。

We even had that cycle with BambooHR wanting to onboard them and have them be part of HRS system.

我們甚至與 BambooHR 有這樣的合作，希望將他們納入 HRS 系統。

And that I think we're -- as with humanoid noisy robots, I think we're still a few years away from at least.

我認為，就像人形吵雜機器人一樣，我認為我們至少還需要幾年的時間才能實現。

And in the meantime, our point of view is you want to focus AI on more specific jobs to be done.

同時，我們的觀點是，你想讓人工智慧專注於更具體的工作。

So it's a little more analogous to the robots that Amazon uses in its factory warehouses that are especially designed for that purpose and have more well-defined objectives and sort of rules of engagement.

因此，它與亞馬遜在其工廠倉庫中使用的機器人更類似，這些機器人是專門為此目的而設計的，並且具有更明確的目標和交戰規則。

And I think that is how Asana agents are going to show up.

我認為這就是 Asana 代理的出現方式。

You're going to be able to give them a specific workflow to go off of, specific instructions for each step of that workflow, a predefined process, and knowledge bases that sort of -- yeah, give it the rules for the road.

您將能夠為他們提供特定的工作流程、工作流程每個步驟的具體說明、預先定義的流程和知識庫——是的，為其提供道路規則。

And I think that will make customers a lot more successful, because we'll be able to deploy it in exactly the places where it's possible to be productive without worrying about things kind of going off the rails or say, a customer chat agents that offers a refund you didn't intend.

我認為這會讓客戶獲得更大的成功，因為我們能夠將它部署在可能提高生產力的地方，而不必擔心事情會出軌，或者說，一個提供您不想要的退款。

Just being able to put these into a much more sort of predefined workflows, I think, is how customers are going to find the slope of productivity.

我認為，只要將這些放入更多預先定義的工作流程中，客戶就能找到生產力的斜率。

In terms of the specific competitors you mentioned, I think that agents will do context relevant things.

對於你提到的具體競爭對手，我認為經紀人會做一些與背景相關的事情。

And so it will matter a little more what the product is they're being introduced into.

因此，他們被引入到什麼樣的產品中就變得更加重要。

And I think Sierra -- I don't know a whole ton about it, but I think they're coming at it more from the sort of Swiss Army knife approach.

我認為 Sierra——我對此了解不多，但我認為他們更多是採用瑞士軍刀式的方法來實現這一點。

And I think that it's going to be difficult to get that deployed in the short run.

我認為短期內部署這項措施將會很困難。

Awesome.

驚人的。

Thank you.

謝謝。

And Tim, if I could ask you a follow up.

提姆，我可以問你一個後續問題嗎？

You know it's been great working with you and looking forward to getting to do it again.

您知道與您合作非常愉快，我期待再次合作。

But what do you think is the number one metric that investors should be looking at for Asana?

但是，您認為投資者在關注 Asana 時應該關注的首要指標是什麼？

So after you're gone, that's over the next year or two, what's the number one thing we should be focused on to see that this business is turning around?

那麼，在您離開之後，也就是未來的一兩年內，我們應該專注於什麼才能確保業務好轉？

Yeah.

是的。

I think the most important thing is seats.

我認為最重要的是座位。

I think that's one of the North Star metric that we run the business on.

我認為這是我們經營業務的北極星指標之一。

The more seats, we can deploy, the more value we can deliver across an organization.

我們部署的席位越多，我們為整個組織提供的價值就越大。

And as we add more SKUs in some of these AI functionality, I think, we will be able to really differentiate the product and demonstrate a lot more value where we'll have more pricing power over time.

而且，隨著我們在某些​​ AI 功能中添加更多 SKU，我認為，我們將能夠真正區分產品並展示更多價值，隨著時間的推移，我們將擁有更大的定價權。

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 so much for joining us today, and we look forward to see you on the road this quarter.

非常感謝您今天加入我們，我們期待本季在路上見到您。

We'll be at the Piper Sandler conference, the Wolfe conference, the Deutsche Bank bus tour, the KeyBanc bus tour.

我們將參加 Piper Sandler 會議、Wolfe 會議、德意志銀行巴士之旅、KeyBanc 巴士之旅。

And those are just a few off the top of my head.

以上只是我想到的一些。

Most of all, please join us on October 22 in New York at our own Work Innovation Summit, and we look forward to seeing you there.

最重要的是，請參加我們 10 月 22 日在紐約舉行的工作創新高峰會，我們期待在那裡見到您。

Thank you again.

再次感謝您。

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。