Asana, Inc. (ASAN) 2022 Q2 法說會逐字稿

Good day, and thank you for standing by. Welcome to the Asana Second Quarter Fiscal Year 2022 Earnings Conference Call. (Operator Instructions) I would now like to hand the conference over to your speaker today, Catherine Buan.

各位好，感謝您稍候。歡迎參加 Asana 2022 會計年度第二季財報電話會議。（接線員指示）現在我想把會議交給今天的發言人 Catherine Buan。

Good afternoon, and thank you for joining us on today's conference call to discuss the financial results for Asana's second quarter fiscal 2022. With me on today's call are Dustin Moskovitz, Asana's Co-Founder and CEO; Tim Wan, the company's Chief Financial Officer; Chris Farinacci, the company's outgoing Chief Operating Officer and Head of Business; and the company's incoming Chief Operating Officer and Head of Business Anne Raimondi.

各位午安，感謝您參加今天的電話會議，一同討論 Asana 2022 會計年度第二季的財務結果。今天與我一同出席的有 Asana 共同創辦人暨執行長 Dustin Moskovitz；公司財務長 Tim Wan；即將卸任的營運長暨商務負責人 Chris Farinacci；以及即將上任的營運長暨商務負責人 Anne Raimondi。

Today's call will include forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our financial outlook, market position and growth opportunities. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements.

今天的電話會議將包含依據 1995 年《私人證券訴訟改革法》安全港條款所作的前瞻性陳述，包括但不限於關於我們的財務展望、市場地位與成長機會的陳述。前瞻性陳述涉及已知與未知的風險與不確定性，可能導致我們的實際結果、表現或成就與前瞻性陳述所明示或暗示者存在重大差異。

Forward-looking statements represent our management's beliefs and assumptions only as of the date made. Information on the factors that could affect the company's financial results is included in its filings with the SEC from time to time, including the section titled Risk Factors in the quarterly report on Form 10-Q filed by the company for the quarter ended April 30, 2021.

前瞻性陳述僅代表管理層截至作出陳述當日的信念與假設。可能影響公司財務結果的因素資訊，會不時載於公司向美國證券交易委員會（SEC）提交的文件中，包括公司就截至 2021 年 4 月 30 日止季度所提交的 Form 10-Q 季度報告中「風險因素」一節。

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

此外，在今天的電話會議中，我們將討論非 GAAP 財務衡量指標。這些非 GAAP 財務衡量指標是對依 GAAP 編製之財務績效衡量指標的補充，並非替代，也不應被視為更優。GAAP 與非 GAAP 財務衡量指標之間的調節，以及使用非 GAAP 指標相較於其最接近 GAAP 對應指標之限制說明，均載於我們的財報新聞稿中，並已發布於投資人關係網站 investors.asana.com。

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

接下來，我想把電話會議交給 Dustin。

Thank you, Catherine, and thank you, everyone, for joining our earnings call today. We had another great quarter in Q2. We accelerated revenues, accelerated enterprise customer growth and increased dollar-based net retention rates across the board. Revenues of $89.5 million grew 72% year-over-year, accelerating 11 percentage points versus Q1. This is a very significant acceleration and the third quarter in a row of acceleration. We're now at a $358 million GAAP revenue run rate.

謝謝你，Catherine，也謝謝各位今天參加我們的財報電話會議。我們在第二季（Q2）再度交出亮眼成績。我們的營收加速成長、企業客戶成長加速，且各客群的以美元計價淨留存率全面提升。營收達 8,950 萬美元，年增 72%，較第一季（Q1）加速 11 個百分點。這是非常顯著的加速，也是連續第三季加速成長。我們目前的 GAAP 營收年化運行率已達 3.58 億美元。

For customers spending over $5,000 or more on an annualized basis, our revenues grew 97% year-over-year. We added over 7,000 net new paying customers, continuing the strong pace from last quarter, putting our total number of customers over 107,000. The number of customers spending over $50,000 on an annualized basis grew 111% year-over-year, which reflected an acceleration in our largest enterprise customers. And dollar-based net retention rate increased across all of our customer cohorts. It increased over 125% for customers spending $5,000 or more on an annualized basis, for customers spending $50,000 or more on an annualized basis, it increased over 145%, and our overall dollar-based net retention rate increased over 118%.

就年化支出超過 5,000 美元的客戶而言，我們的營收年增 97%。我們新增超過 7,000 名淨新增付費客戶，延續上季的強勁步伐，使客戶總數超過 107,000 名。年化支出超過 50,000 美元的客戶數年增 111%，反映我們最大型企業客戶的成長加速。同時，以美元計價淨留存率在所有客群皆有所提升：年化支出 5,000 美元以上客戶提升至超過 125%；年化支出 50,000 美元以上客戶提升至超過 145%；整體以美元計價淨留存率提升至超過 118%。

Based on our outlook for the rest of the year, we're raising full year guidance by 6% to a range of $357 million to $359 million, representing 57% to 58% growth for the year. Q3 guidance represents 58% to 60% growth.

基於我們對今年剩餘期間的展望，我們將全年財測上調 6%，至 3.57 億至 3.59 億美元區間，代表全年成長 57% 至 58%。第三季（Q3）財測代表成長 58% 至 60%。

There are several drivers for the business. First, customers are adopting Asana everywhere. We're seeing record top-of-funnel volume, demand around the globe, and rapid expansions within our customer base. Second, we're seeing continued momentum in the enterprise. We're closing larger deals and expanding seats across departments and geographies quickly in large organizations. Our largest customers are recognizing the increasing value and scalability of our unique Work Graph data model. This is reflected in our over $50,000 customer cohort growth and the expansions in the base. The investments in our product strategy and the Work Graph are paying off, and this is just the beginning.

業務成長有幾個驅動因素。第一，客戶正在各處採用 Asana。我們看到創紀錄的漏斗頂端流量、全球需求，以及在既有客戶群中的快速擴張。第二，我們在企業市場持續展現動能。我們正在成交更大型的案子，並在大型組織中快速跨部門、跨地域擴增席次。我們最大的客戶正認知到我們獨特的 Work Graph 資料模型所帶來的價值提升與可擴展性。這反映在年化支出超過 50,000 美元客群的成長，以及既有客戶基礎中的擴張。我們在產品策略與 Work Graph 的投資正在開花結果，而這才剛開始。

Third, customer adoption and retention is as good or better than it has ever been. Our focus is to build great customer experiences with human centered design principles and help customers experience the best version of Asana right away, which drives our adoption and revenue. As a result, our NPS scores are the highest we've seen to date. Our adoption metrics are strong and our retention rates are at record levels.

第三，客戶採用與留存表現與以往相比同樣好，甚至更好。我們的重點是以人本設計原則打造卓越的客戶體驗，並協助客戶立即體驗 Asana 的最佳版本，進而帶動採用與營收。因此，我們的 NPS 分數達到迄今最高。我們的採用指標強勁，留存率也創下新高。

As everyone is probably well aware, we're currently experiencing one of the biggest workplace transformations in history. Even after a year of surprising changes, the situation remains fluid. It can be difficult to achieve organizational-wide clarity under normal circumstances. And for the past 18 months, this challenge has hit an entirely new level.

如各位可能都很清楚，我們目前正經歷史上最大的職場轉型之一。即使在經歷一年令人意外的變化之後，情勢仍然多變。在一般情況下，要在全組織範圍內達成清晰一致就已不容易；而在過去 18 個月，這項挑戰更是提升到全新的層級。

The reality of the moment is that increased workloads and too many emails, messages, meetings and video calls are barriers to productivity. According to our annual survey called the Anatomy of Work, limited employee bandwidth has meant that over 1/4 of deadlines are missed. A key driver is the lack of clarity caused by unclear processes. Large enterprises, in particular, delays in the inability to successfully pivot as needed can add up to a significant drain on resources, revenue and profitability.

當下的現實是：工作量增加，以及過多的電子郵件、訊息、會議與視訊通話，都是生產力的障礙。根據我們名為《工作解剖學》（Anatomy of Work）的年度調查，員工可用的時間與精力有限，導致超過四分之一的截止期限未能達成。其中一個關鍵驅動因素，是流程不清晰所造成的缺乏明確性。尤其對大型企業而言，延誤與無法在需要時成功轉向，可能累積成對資源、營收與獲利能力的重大消耗。

While the symptoms around these types of pains have evolved, their root causes have been with us for a long time. Through it all, Asana's mission to help humanity thrive by enabling the world's teams to work together effortlessly has remained constant.

儘管這些痛點的表徵有所演變，其根本原因其實已存在很長一段時間。一路走來，Asana 的使命始終如一：透過讓全球團隊能夠毫不費力地協作，幫助人類蓬勃發展。

Our product road map continues to be strong. And with our Asana Work Graph, we are uniquely equipped to help companies find the best path to reach their goals and to shift as needed along the way. We build products that give clarity to individuals, teams and executives. In the first half of the year, we announced Asana Partners, which featured over 200 technology partners, the Channel Partner Network, and 7 new languages. Asana is now available in 13 languages spoken by 4.2 billion people across the globe.

我們的產品路線圖持續強勁。憑藉 Asana Work Graph，我們具備獨特優勢，能協助企業找到達成目標的最佳路徑，並在過程中視需要調整。我們打造能為個人、團隊與高階主管帶來清晰度的產品。今年上半年，我們宣布 Asana Partners，涵蓋超過 200 家技術合作夥伴、通路合作夥伴網路，以及 7 種新語言。Asana 目前支援 13 種語言，涵蓋全球 42 億人口使用的語言。

We also launched Universal Reporting, giving real-time actionable insights into team's progress across the entire organization enabled by the Work Graph. In June, we added a suite of new features designed to help individuals achieve greater focus and flow. These include video messaging in partnership with Vimeo, supercharged My Tasks, the Asana desktop app and our Clockwise smart calendar assistant integration.

我們也推出 Universal Reporting，透過 Work Graph 為整個組織提供團隊進度的即時、可採取行動的洞察。6 月，我們新增一系列新功能，旨在協助個人達到更高的專注與心流，包括與 Vimeo 合作的影片訊息功能、強化版「我的任務」、Asana 桌面應用程式，以及與 Clockwise 智慧行事曆助理的整合。

I'm also excited about our deep integration with Zoom. You can create a new Zoom meeting and join it right from inside an Asana task. While in Zoom, teams can quickly create an Asana task, so details and action items don't get lost. Once the meeting is over, the recording and transcript can be added to Asana and action items assigned to owners, so everyone has a record of what was discussed and what needs to be actioned. Asana for Zoom leads to better meetings with clear agendas and actionable next steps.

我也對我們與 Zoom 的深度整合感到興奮。您可以直接在 Asana 任務內建立新的 Zoom 會議並加入。當在 Zoom 中時，團隊可以快速建立 Asana 任務，讓細節與待辦事項不會遺漏。會議結束後，錄影與逐字稿可加入 Asana，並將待辦事項指派給負責人，讓每個人都能保留討論內容與需要採取行動事項的紀錄。Asana for Zoom 能帶來更好的會議：議程清楚、下一步可執行。

On October 20, at our enterprise event called Scale, we'll be unveiling a suite of new features to help large organizations orchestrate work across departments and geographies to achieve their goals. And finally, we remain on track to launch our entirely new take on workflows at the end of our fiscal year.

10 月 20 日，在我們名為 Scale 的企業活動上，我們將揭曉一系列新功能，協助大型組織跨部門與跨地域協同編排工作，以達成其目標。最後，我們仍按計畫在本會計年度結束時推出我們對工作流程的全新詮釋。

Before I hand it over to Chris, I also want to highlight that last week, Asana was officially listed on a Long-Term Stock Exchange. In conjunction with that, we launched our first consolidated step towards ESG reporting by providing our first ESG fact sheet on the Investor Relations website. Enabling the world's teams to work together effortlessly is an expansive mission and requires commitment to our long-term strategies. We're continuing to build structures to execute on these long-term strategies and align with partners such as the LTSE with common values.

在我把電話會議交給 Chris 之前，我也想強調，上週 Asana 已正式在長期證券交易所（Long-Term Stock Exchange）掛牌。同時，我們也邁出 ESG 報告的第一個整合性步伐，在投資人關係網站提供我們的第一份 ESG 事實資料表。讓全球團隊能夠毫不費力地協作是一項宏大的使命，並需要對長期策略的承諾。我們將持續建立相關架構以執行這些長期策略，並與如 LTSE 等擁有共同價值觀的夥伴保持一致。

With our ESG reporting, we endeavor to provide the same clarity and transparency that our product offers. We are committed to expanding our reporting in the coming year. You can find more information about this on the Investor Relations website.

透過我們的 ESG 報告，我們致力於提供與我們產品同等的清晰度與透明度。我們承諾在來年擴大我們的揭露範圍。您可在投資人關係網站上找到更多相關資訊。

Lastly, I'm proud to highlight that we've been recognized by Fortune and Great Places to Work as one of the Best Small and Medium Workplaces for 2021, marking the fifth year for Asana in the list's top 10 ranking.

最後，我很自豪地強調，我們已獲《財富》雜誌與 Great Places to Work 評選為 2021 年最佳中小型職場之一，這也是 Asana 連續第五年在該榜單中名列前 10。

And now I'll hand it off to Chris.

接下來我把時間交給 Chris。

Thanks, Dustin. We accelerated revenue growth again to 72% year-on-year in Q2. Some highlights from the quarter's business performance include the following.

謝謝你，Dustin。我們在第二季再次加速營收成長，年增率達 72%。本季業務表現的幾項重點如下。

First, we posted strong customer growth again this quarter, adding another 7,000 net new customers, and we now have over 107,000 paying customers. We continue to see record top of funnel growth. We also completed the additional language rollout for the year and now have 13 languages in total.

第一，本季我們再次實現強勁的客戶成長，淨新增 7,000 名客戶，目前付費客戶已超過 107,000 名。我們持續看到創紀錄的漏斗頂端成長。我們也完成了本年度的新增語言上線，目前總計支援 13 種語言。

Second, we continue to see strong expansion within our existing customer base, particularly with our larger customers. The net retention rate for customers spending $50,000 or more with us annually increased over 145%.

第二，我們持續看到既有客戶基礎內的強勁擴張，尤其是在大型客戶方面。年支出達 50,000 美元以上客戶的淨留存率提升至超過 145%。

And third, we're seeing our investments paying off in enterprise, driving continued enterprise momentum. The number of customers spending $50,000 or more annually grew 111% to 598 in the quarter. Our value proposition is clearly resonating with our customers.

第三，我們看到在企業市場的投資正在帶來回報，推動企業動能持續增強。本季年支出達 50,000 美元以上的客戶數年增 111% 至 598 家。我們的價值主張顯然正引起客戶共鳴。

In fact, IDC recently released an independent study of the business value of Asana, and the research demonstrates the substantial impact that Asana has on an organization's ability to focus on higher value work and customer delivery. Participants in the study reported higher employee productivity, more effectiveness and more on-time work and ultimately, higher customer satisfaction. Some of the highlights from the recent study by IDC include: 224% 1-year return on investment; 33% less time spent on e-mails; and 42% faster execution of business processes.

事實上，IDC 近期發布了一項關於 Asana 商業價值的獨立研究，研究顯示 Asana 對於提升組織專注於更高價值工作與客戶交付的能力具有顯著影響。研究參與者回報員工生產力更高、效能更佳、按時完成工作的比例更高，最終帶來更高的客戶滿意度。IDC 最新研究的一些重點包括：一年期投資報酬率 224%；花在電子郵件上的時間減少 33%；以及業務流程執行速度提升 42%。

The IDC study validates what some of our existing larger customers already know. Last quarter, we shared our largest customer deployment expanded to 50,000 seats. This quarter, we saw another Fortune 50 company expand their deployment to more than 25,000 seats. This further illustrates the scalability that the Work Graph enables and shows our value proposition is resonating with some of the biggest enterprises in the world.

IDC 的研究驗證了我們部分既有大型客戶早已了解的事。上季我們分享過，我們最大客戶的部署已擴大至 50,000 個席位。本季我們看到另一家《財富》50 大企業將其部署擴大至超過 25,000 個席位。這進一步說明 Work Graph 所帶來的可擴展性，也顯示我們的價值主張正與全球一些最大的企業產生共鳴。

We had some spectacular customer wins this quarter, including mass media and entertainment conglomerate ViacomCBS. Additional customer highlights from the quarter include the following: Fujitsu, the eighth largest IT service provider in the world, expanded their use of Asana in Q2. Founded in 1935, they're undergoing a company-wide digital transformation. Asana is being used across the transformation office, designers, marketing, business planning and business systems project teams to gain more visibility and clarity into their cross-functional working processes so they can execute and make business decisions faster.

本季我們取得一些極為亮眼的客戶勝利，包括大眾媒體與娛樂集團 ViacomCBS。本季其他客戶亮點包括：全球第八大 IT 服務供應商 Fujitsu 於第二季擴大使用 Asana。該公司成立於 1935 年，正進行全公司的數位轉型。Asana 被廣泛用於轉型辦公室、設計、行銷、業務規劃與業務系統專案團隊，以提升其跨職能工作流程的可視性與清晰度，從而更快執行並做出商業決策。

Just Eat Takeaway, a leading global online food delivery marketplace, has expanded the use of Asana's enterprise solution in Q2 with a multiyear agreement that enables all employees to manage their work in the Asana platform. Asana is being leveraged heavily across operations, building out their logistics network, global marketing campaigns, client services and streamlining their integrations of recent acquisitions. Just Eat chose Asana because they needed a platform that could help them drive their strategic objectives forward: Expanding supply chain, rapidly deploying marketing brand campaigns and elevating their customer experience.

Just Eat Takeaway 作為全球領先的線上外送平台，於第二季透過一項多年期協議擴大採用 Asana 的企業解決方案，使所有員工都能在 Asana 平台上管理工作。Asana 在其營運、物流網路建置、全球行銷活動、客戶服務，以及近期併購整合的流程精簡方面被大量運用。Just Eat 選擇 Asana，是因為他們需要一個能協助推動策略目標的平台：擴大供應鏈、快速部署行銷品牌活動，並提升客戶體驗。

Cohesity is a software company that delivers next-generation data management to thousands of businesses around the globe. Just as Cohesity is focused on simplifying data management, the company turned to Asana to simplify their work streams and processes. Cohesity determined Asana was the best platform to help them increase transparency into work happening across their organization to drive operational efficiencies and help them scale.

Cohesity 是一家為全球數千家企業提供新一代資料管理的軟體公司。正如 Cohesity 專注於簡化資料管理一樣，該公司也轉向 Asana 以簡化其工作流與流程。Cohesity 認為 Asana 是最佳平台，可提升其組織內各項工作的透明度，以推動營運效率並協助其擴張。

In Q2, they chose to standardize on Asana's enterprise solution. It's now heavily used across their engineering, marketing, IT, operations, customer success and leadership teams.

在第二季，他們選擇將 Asana 的企業解決方案作為標準化平台。目前 Asana 已在其工程、行銷、IT、營運、客戶成功與領導團隊中被大量使用。

These are just a few of our Q2 customer wins. But as you can see, organizations of all sizes across industries and regions are adopting our work management platform to increase productivity, coordinate their work and provide real-time clarity and alignment across their teams and organizations.

以上只是我們第二季客戶勝利的一部分。但如各位所見，各行各業、各地區、各種規模的組織都在採用我們的工作管理平台，以提升生產力、協調工作，並在團隊與組織之間提供即時的清晰度與一致對齊。

As we look forward to the second half of the year and beyond, we're continuing to focus our business on 3 major growth drivers: acquiring new customers; expanding our existing customer base; and maintaining our enterprise momentum. As we saw from the results, the playbook is working for us. Going forward, it's all about adoption and scale. We're just at the beginning of this journey.

展望今年下半年及更長遠的未來，我們將持續聚焦於三大成長驅動力：獲取新客戶；擴大既有客戶基礎；以及維持我們在企業市場的動能。從結果來看，這套作戰手冊對我們有效。接下來的重點就是採用與規模化。我們才剛踏上這段旅程的起點。

And with that, I'll turn it over to Tim to go through our financial results.

接下來我把時間交給 Tim，請他說明我們的財務結果。

Thank you, Chris. And thank you, everyone, for joining us today. We're very excited to report another great quarter with strong results across the board.

謝謝你，Chris。也謝謝各位今天與會。我們非常高興能報告又一個出色的季度，各項結果都相當強勁。

Q2 revenue growth accelerated another quarter to $89.5 million, up 72% year-over-year. We now have over 107,000 paying customers at the end of Q2. This represents a 31% year-over-year increase. We have 12,806 customers spending $5,000 or more on an annualized basis, up 61% year-over-year, and growth in our larger customers is even stronger. We now have 598 customers spending $50,000 or more on an annualized basis, which accelerated again this quarter to 111% year-over-year. As a reminder, we define customers spending $5,000 or more and $50,000 or more based on annualized GAAP revenues in a given quarter.

第二季營收成長再度加速，達到 8,950 萬美元，年增 72%。截至第二季末，我們的付費客戶已超過 107,000 名，年增 31%。以年化基礎計算，年支出達 5,000 美元以上的客戶為 12,806 名，年增 61%，而大型客戶的成長更為強勁。以年化基礎計算，年支出達 50,000 美元以上的客戶目前為 598 名，本季年增率再度加速至 111%。提醒一下，我們對年支出達 5,000 美元以上與 50,000 美元以上客戶的定義，是以某一季度的年化 GAAP 營收為基礎。

Revenue from customers spending $5,000 or more represented 66% of our revenues in Q2 compared to 58% in the year ago quarter. This segment of our business grew 97% year-over-year. Our overall dollar-based net retention rate increased to over 118%. As a reminder, our dollar-based net retention rate is a trailing 4-quarter average calculation. Among customers spending $5,000 or more, our dollar-based net retention rate increased to over 125%. And among customers spending $50,000 or more, our dollar-based net retention rate increased to over 145%.

第二季來自年支出達 5,000 美元以上客戶的營收占比為 66%，高於去年同期的 58%。該業務區隔年增 97%。我們整體以金額計的淨留存率提升至超過 118%。提醒一下，我們的以金額計淨留存率是以過去 4 個季度的平均值計算。在年支出達 5,000 美元以上的客戶中，我們的以金額計淨留存率提升至超過 125%；而在年支出達 50,000 美元以上的客戶中，我們的以金額計淨留存率提升至超過 145%。

Before turning to expense items and profitability, I would like to point out that I will be discussing the non-GAAP results in the balance of my remarks. Gross margins came in at 89%, up from 87% in the year ago quarter. Research and development was $36.6 million or 41% of revenue. We continue to invest heavily to fuel innovation at a high velocity.

在談到費用項目與獲利能力之前，我想先指出，接下來我的說明將以非 GAAP 結果為主。毛利率為 89%，高於去年同期的 87%。研發費用為 3,660 萬美元，占營收 41%。我們持續大力投資，以高速推動創新。

Sales and marketing was $58.3 million or 65% of revenue, reflecting the investment in both our self-serve and direct sales motion. G&A was $23.4 million or 26% of revenue. Operating loss was $38.6 million and our operating loss margin was 43%. Net loss was $39.8 million, and our loss per share was $0.23. I will note that we converted our outstanding convertible debt during the quarter. This resulted in an increase in shares outstanding of 17 million.

銷售與行銷費用為 5,830 萬美元，占營收 65%，反映我們同時在自助式與直銷銷售模式上的投資。一般及行政費用（G&A）為 2,340 萬美元，占營收 26%。營業損失為 3,860 萬美元，營業損失率為 43%。淨損失為 3,980 萬美元，每股虧損為 0.23 美元。我也要提到，我們在本季將未償還的可轉換公司債進行轉換，導致流通在外股數增加 1,700 萬股。

Moving on to the balance sheet and cash flow. Cash and marketable securities including long-term investments at the end of Q2 were approximately $382 million. Our RPO is $171.1 million, up 100% from prior year. Our free cash flow is defined as net cash from operating activities, less cash used in property and equipment and capitalized software costs, excluding nonrecurring items, such as our direct listing fees, and expenses and the build-out of our San Francisco office. In Q2, free cash flow was negative $9.3 million. We are very proud of our achievements and the business momentum.

接著看資產負債表與現金流。截至第二季末，現金與有價證券（含長期投資）約為 3.82 億美元。我們的 RPO 為 1.711 億美元，較去年同期成長 100%。我們的自由現金流定義為營運活動之淨現金流入，扣除用於不動產與設備以及資本化軟體成本的現金支出，並排除一次性項目，例如我們的直接上市費用，以及舊金山辦公室的相關費用與建置支出。第二季自由現金流為負 930 萬美元。我們對自身的成就與業務動能感到非常自豪。

Now moving to our Q3 and fiscal year '22 outlook. For fiscal year '22, we expect revenues of $93 million to $94 million, representing growth rates of 58% to 60% year-over-year. We expect non-GAAP loss from operations of $49 million to $47 million, and we expect loss per share of $0.27 to $0.26, assuming basic and diluted weighted average shares outstanding of approximately 184 million.

現在來看我們對第三季與 2022 會計年度的展望。就 2022 會計年度而言，我們預期營收為 9,300 萬至 9,400 萬美元，年增率為 58% 至 60%。我們預期非 GAAP 營運虧損為 4,900 萬至 4,700 萬美元，並預期每股虧損為 0.27 至 0.26 美元，假設基本與稀釋加權平均流通股數約為 1.84 億股。

Looking out to the full fiscal year '22, we are raising our previous guidance and now expect revenue to be in the range of $357 million to $359 million, representing a growth rate of 57% to 58% year-over-year. Given the large opportunity ahead, we will continue to invest for growth to maintain our leadership position. We expect full year non-GAAP operating margins to improve from fiscal year '21.

展望 2022 會計年度全年，我們上調先前的指引，現在預期營收介於 3.57 億至 3.59 億美元之間，年增率為 57% 至 58%。鑑於前方龐大的機會，我們將持續投資以推動成長，以維持我們的領導地位。我們預期全年非 GAAP 營業利潤率將較 2021 會計年度改善。

Longer term, we believe that we can execute on our growth strategy and that our best-in-class gross margins and strong unit economics will provide the leverage and flexibility to invest into the enormous market opportunity. We believe this investment will provide durable and sustainable growth as we pursue this large market opportunity with the best-in-class product.

從更長期來看，我們相信能夠落實我們的成長策略，而我們同級最佳的毛利率與強勁的單位經濟效益，將提供槓桿與彈性，使我們得以投資於龐大的市場機會。我們相信，當我們以同級最佳的產品把握這個龐大市場機會時，這些投資將帶來持久且可持續的成長。

Before turning it over to the operator for questions, I'll turn it back to Dustin for some additional comments.

在交由接線員進行問答之前，我先把時間交回給 Dustin，請他補充幾點。

Thanks, Tim. As you may have seen, we announced that Anne Raimondi joins us as of today as our new COO and Head of Business. I'm thrilled to have Anne on the team. Her background as a customer-centric operations executive will be indispensable as we continue building our enterprise offerings and work to help all of our customers succeed in achieving their missions.

謝謝你，Tim。如各位可能已經看到的，我們宣布 Anne Raimondi 自今日起加入我們，擔任新的營運長（COO）暨商務主管。我非常高興 Anne 加入團隊。她以客戶為中心的營運高階主管背景，將在我們持續打造企業級產品並協助所有客戶成功達成其使命的過程中，扮演不可或缺的角色。

Anne has been serving on the Asana Board for the last 2 years, so she has co-created the strategy that she'll now be helping to lead. I couldn't be happier to have that kind of continuity between 2 great executives.

Anne 在過去 2 年一直擔任 Asana 董事會成員，因此她共同制定了她現在將協助領導的策略。我非常高興能在兩位優秀高階主管之間，擁有這樣的延續性。

After helping us achieve 6 years of very rapid growth, including 2 independent cycles of accelerating growth rate and tremendous success throughout the organization, Chris will be enjoying a well-earned retirement. Chris, thank you so much for all of your contributions to get Asana to this stage.

在協助我們達成 6 年的高速成長之後——其中包括兩次獨立的成長率加速週期，以及整個組織的巨大成功——Chris 將享受實至名歸的退休生活。Chris，非常感謝你為 Asana 發展到今天所做的一切貢獻。

Thanks, Dustin. It has been the privilege of my career to be a member of the Asana team since 2015, and I'm incredibly proud of the company's success to date and the significant growth opportunities ahead for the company.

謝謝你，Dustin。自 2015 年以來成為 Asana 團隊的一員，是我職涯中的榮幸；我也為公司迄今的成功，以及未來仍有重大的成長機會而感到無比自豪。

The 2 things I'm most proud of, we've built over the past 6 years are our world-class team. I want to thank everyone in Asana for their support over the last 6 years and our amazing customer base, who we're enabling to spend more time on their missions.

在過去 6 年裡，我最引以為傲的兩件事是：我們打造了世界級的團隊。我想感謝 Asana 的每一位同仁在過去 6 年的支持，也感謝我們了不起的客戶群，因為我們正在協助他們把更多時間投入在其使命上。

I've worked closely with Anne during her time on the Board. Anne is a very strategic thinker and has a deep understanding of the Asana business. I couldn't be more excited to pass the baton to Anne. And of course, I'll be here to ensure a smooth transition until the end of the fiscal year.

在 Anne 擔任董事期間，我與她密切合作。Anne 是非常具策略思維的人，並且對 Asana 的業務有深刻理解。我非常期待把接力棒交給 Anne。當然，在本會計年度結束前，我也會在這裡確保交接順利。

Thanks so much, Chris and Dustin. When Chris and Dustin first approached me about the idea of joining as part of the executive team, I was honored and thrilled. Having been a customer myself and a Board member, I've had the chance to see what an incredible team, business and opportunity we have. Chris' leadership has helped us build and scale a fast-growing business and a remarkable team, and my goal is to continue the momentum.

非常感謝你，Chris 和 Dustin。當 Chris 和 Dustin 首次與我談到加入高階管理團隊的想法時，我深感榮幸也非常興奮。身為曾經的客戶與董事會成員，我有機會看到我們擁有多麼出色的團隊、業務與機會。Chris 的領導協助我們建立並擴張一個快速成長的業務與一支卓越的團隊，而我的目標是延續這股動能。

The strategy at Asana is clearly working, and I'm very excited for this opportunity. Asana is addressing one of the most pervasive problems across organizations. It's been the top issue in all high conversations with CEOs and C-suite leaders over the last few years, and the market is enormous. We are just at the beginning of the adoption curve and already there is tremendous momentum, especially at Asana.

Asana 的策略顯然正在奏效，我對這個機會感到非常興奮。Asana 正在解決組織中最普遍的問題之一。過去幾年，這一直是我與 CEO 及 C 級高階主管所有高層對話中的首要議題，而市場規模極其龐大。我們才剛站在採用曲線的起點，但已經有非常強勁的動能，尤其是在 Asana。

I'm going to be hosting our enterprise event in October, and I look forward to seeing all of you there.

我將在 10 月主持我們的企業活動，期待在那裡與各位相見。

Wonderful. Thanks, everyone. And with that, operator, we'll turn it over to questions.

太好了。謝謝大家。接下來，接線員，我們把時間交給提問。

(Operator Instructions) Our first question comes from Brent Bracelin with Piper Sandler.

（接線員指示）我們的第一個問題來自 Piper Sandler 的 Brent Bracelin。

Dustin, maybe we'll start with you. Historically, Asana has been deployed as more of a departmental solution. I think what I find interesting here is the pace of enterprise expansions. You're seeing kind of broader deployments at Just Eat, Cohesity, Fujitsu. You talked about the 25,000 seat deployment at a Fortune 50.

Dustin，也許我們先從你開始。過去 Asana 多半被部署為部門層級的解決方案。我覺得這裡有趣的是企業客戶擴張的速度。你們看到在 Just Eat、Cohesity、Fujitsu 等公司出現更廣泛的部署。你也提到一家《財富》50 強企業的 25,000 席位部署。

My question here, what's resonating most with enterprise customers that are looking here to go wall to wall? Why now? Is it the hybrid work reality? Or are there other reasons why you're starting to see much broader adoption here?

我的問題是，對於希望在企業內「全面部署（wall-to-wall）」的客戶而言，最能引起共鳴的是什麼？為什麼是現在？是混合辦公成為現實所致嗎？還是有其他原因，讓你們開始看到更廣泛的採用？

Well, really, I think that the problems that we're solving and creating clarity and alignment for customers are really part of much longer-term trends. The need for clarity really preexists COVID and the pandemic and work from home by many years. But certainly, those things have accentuated the pain and brought more awareness to the problem space that we're solving.

我認為，我們正在解決的問題——為客戶建立清晰度與一致性——其實屬於更長期的趨勢。對清晰度的需求在 COVID、疫情以及居家辦公出現之前就已存在多年。但這些因素確實加劇了痛點，並讓更多人意識到我們正在解決的問題領域。

But I think a lot of what is generating the momentum in the enterprise is seeing our product strategy pay off and be able to deliver on creating great workflows for these organizations. And then they're seeing the success at our existing customer deployments. They're seeing the success within smaller deployments they might have in their own company and wanting to replicate that and expand that really quickly.

但我認為，企業端動能的很大一部分來自於我們的產品策略開始展現成效，並能為這些組織打造出色的工作流程。接著，他們也看到了我們既有客戶部署的成功；他們也看到了自己公司內較小規模部署的成功，因而希望複製並非常快速地擴大。

So anything you want to add, Chris?

Chris，你有什麼想補充的嗎？

Yes. Maybe I'll just add a couple more customer examples just to sort of give you the customer perspective. So I talked about Just Eat and Cohesity in my prepared remarks, Cohesity needed to simplify and streamline their processes and projects company-wide so they could really get clarity and transparency at scale. So they expanded their use of Asana Enterprise as the standard tool to do that.

有的。我再補充幾個客戶案例，從客戶角度來說明。我在事先準備的發言中提到 Just Eat 和 Cohesity。Cohesity 需要在全公司範圍內簡化並精實其流程與專案，以便在規模化的情況下真正獲得清晰度與透明度。因此，他們擴大使用 Asana Enterprise，作為達成該目標的標準工具。

Another one I didn't mention in the previous remarks is Gorillas. Gorillas is a German grocery delivery company that's expanding really quickly. They're the fastest-growing unicorn in Europe. And to support their rapid growth and scaling needs, they -- we did a 3-year ELA for Asana wall-to-wall with them this prior quarter to -- or this past quarter, to coordinate all their projects and processes and work across the business.

另一個我先前沒有提到的是 Gorillas。Gorillas 是一家德國雜貨外送公司，正在非常快速地擴張，是歐洲成長最快的獨角獸。為了支援其快速成長與擴張需求，我們在上一季——也就是剛過去的這一季——與他們簽訂了為期 3 年、全面部署（wall-to-wall）的 Asana 企業授權合約（ELA），用以協調其全公司的所有專案、流程與工作。

And a really interesting use case that's pretty typical, and I think a sweet spot for Asana is creating standard processes for rapidly launching their services into new cities and countries to move faster and sustain their rapid growth. And I think any sort of cross-functional use case like launches of any kind is a killer use case that we're seeing drive a lot of the broad adoption.

還有一個非常有趣、也相當典型的使用情境，我認為是 Asana 的甜蜜點：建立標準化流程，以便能快速把服務推向新的城市與國家，從而加快速度並維持其高速成長。我認為任何跨部門的使用情境——例如各類型的產品或服務上線（launch）——都是我們看到推動廣泛採用的關鍵使用案例。

Well, certainly happening faster than I would have expected. Great to see.

這確實比我預期的發生得更快。很高興看到這樣的進展。

Your next question is from Steve Enders with KeyBanc.

下一個問題來自 KeyBanc 的 Steve Enders。

I just wanted to touch on the expanding net retention that you saw in the quarter here. I just want to get a better sense for what's driving that. Is there any kind of change in the mix between new seats and planned upsells?

我想談一下你們本季看到的淨留存率（net retention）擴張。我想更了解是什麼在驅動它。新席位（new seats）與計畫性加購（planned upsells）之間的組合是否有任何變化？

And I guess kind of more broadly, is it something about the demand environment that's bringing more people to expand quicker? Or is this something about your reps and your customer success teams that are beginning to drive some of that expansion activity there?

以及更廣泛地說，是需求環境讓更多人更快擴張嗎？還是你們的業務代表與客戶成功團隊開始推動更多擴張活動所致？

Steve, this is Tim. I think from a metric standpoint, it's definitely twofold. I would say we're seeing increased expansion on a cohort basis, and we're seeing improved adoption on a cohort basis.

Steve，我是 Tim。從指標角度來看，我認為這明顯是雙重因素。我會說，我們在同一批次（cohort）基礎上看到擴張增加，同時也在同一批次基礎上看到採用度提升。

So both of those have really helped in terms of the net expansion rate improving over the last -- kind of over this past quarter. So we're really encouraged by the results. And all the trends are going in the right direction.

這兩者都確實有助於淨擴張率在過去——也就是本季——的改善。我們對結果感到非常振奮，而且所有趨勢都朝著正確方向發展。

Yes. I mean, I might just add -- this is Chris. I might just add, on top of what Tim said, like the business imperative right now is growing. So organizations are now preparing for the new normal, and they want capabilities to coordinate work no matter where their employees are. So the need for this is rising.

是的。我是說，我可能再補充一下——我是 Chris。我可能再補充一點，在 Tim 所說的基礎上，目前業務上的迫切需求正在成長。因此，各組織正在為新常態做準備，他們希望具備不論員工身在何處都能協調工作的能力。所以這方面的需求正在上升。

And we made a lot of investments in product and customer success to support that adoption over the last year, and we're just starting to see it bear some of the fruits of that. And I think you also mentioned the mix. And we really are seeing balanced growth in terms of, sort of, ACV going up, but we're really seeing strong seat growth as well. And it's really related to that bottoms-up adoption of the product.

而且在過去一年裡，我們在產品與客戶成功方面投入了大量資源來支持這種採用，我們也才剛開始看到這些投入帶來的一些成果。我想你也提到了組合。我們確實看到相當均衡的成長：一方面 ACV 在上升，另一方面席位數也有很強的成長。而這與產品自下而上的採用密切相關。

Okay. That's great to hear. And just on some of the new products that you've introduced in the quarter across Universal Reporting, and some of the new video messaging functionality. I guess, how are you kind of seeing the adoption curve so far of that within the customer base to date?

好的。很高興聽到。再談談你們本季推出的一些新產品，包括 Universal Reporting，以及一些新的影片訊息功能。我想問的是，到目前為止，你們如何看待這些在客戶群中的採用曲線？

Yes. We've seen a lot of excitement, especially around Universal Reporting. So we're actually just diving into some stats in the past few weeks. And our largest customers, in each of them, we see hundreds of dashboards being created and shared.

是的。我們看到非常多的興奮感，特別是圍繞 Universal Reporting。事實上，我們在過去幾週才剛深入看了一些統計數據。在我們最大的客戶中，每一家都能看到有數百個儀表板被建立並分享。

And we're also hearing a lot of feedback from our sales team that customers are excited when they're on prospect calls. It's coming up in a large number of the back-to-sales conversations.

我們也從銷售團隊那裡聽到很多回饋：客戶在潛在客戶通話時很興奮。這在大量的銷售跟進對話中都會被提起。

Your next question is from Brent Thill with Jefferies.

下一個問題來自 Jefferies 的 Brent Thill。

Dustin, just back to the large enterprise deployments, I think you know a thing about large scale and building out networks. I'm curious, when you think about the scale of some of these larger deployments that you have today, can you just provide a little more color about where you're starting to reach in terms of seat deployments and complexity? And maybe just help us better understand how that's building out over the next 1 to 2 years?

Dustin，回到大型企業部署，我想你對大規模與建構網路很有經驗。我很好奇，當你想到你們目前一些更大型部署的規模時，能否再提供一些細節，說明你們在席位部署數量與複雜度方面大概已經觸及到什麼程度？也許也幫我們更好理解未來 1 到 2 年會如何擴展？

Yes. So it's really a variety of things. We're really excited about the 25,000 seat deployment and that's on top of the -- what we announced last quarter with a 50,000 seat deployment. Both of those are Fortune 50 companies.

是的。其實有各種不同情況。我們對 25,000 席位的部署感到非常興奮，而這是在——我們上季宣布的 50,000 席位部署之上。這兩家都是《財富》50 大公司。

We also have a number of examples of other customers that are in the many thousands. And we're starting to see -- and when they're at that scale, we do tend to see, it's an entire division or maybe parts of multiple divisions.

我們也有不少其他客戶的例子，規模在數千席位以上。我們開始看到——當他們達到那樣的規模時，通常會是整個事業部，或是多個事業部的部分單位。

And then additionally, with customers that are more in the thousands of seats range, we're starting to see more, sort of, wall-to-wall deployment. So really seeing customers adopt Asana for work management across all of their employees. So really excited about that for customers who we've been talking about recently, with Cohesity and Gorillas both deploying Asana throughout the organization.

另外，對於席位數大約在數千的客戶，我們開始看到更多所謂的「全面部署」。也就是看到客戶在所有員工之間採用 Asana 來做工作管理。對此我們非常興奮。像我們最近提到的客戶，Cohesity 和 Gorillas 都在整個組織內部署 Asana。

And that's when you really start to see the sort of magic of the unique Work Graph data model where they're able to engage in cross-functional workflows and leverage the flexibility to have everyone aligned around a shared source of truth.

而這正是你開始看到獨特的 Work Graph 資料模型所帶來的「魔力」之處：他們能夠進行跨職能的工作流程，並利用其彈性，讓所有人圍繞同一個共享的單一事實來源保持一致。

I think that covered the first part of your question. Was there a second part?

我想這回答了你問題的第一部分。還有第二部分嗎？

Maybe for Tim, just you're coming off of the highest growth in 5 quarters. I know you've always said to us don't look at billings, but there's 18% billings and then coming into a 59% midpoint guide for next quarter, I think many investors are just asking it.

也許給 Tim：你們剛繳出 5 個季度以來最高的成長。我知道你一直跟我們說不要看帳單額（billings），但這次 billings 是 18%，而下一季指引的中位數是 59%，我想很多投資人都在問這件事。

Is there something that we should think about just lapping these big comps you're pushing? Or is there something specific to next quarter that we need to think through that might be an anomaly? Just curious how you would frame the guide relative to what you've been putting up?

我們是否應該把重點放在你們正在面對這些高基期的比較效應？或者下一季是否有什麼特定因素需要我們思考，可能會是異常值？只是好奇你會如何在你們目前的表現背景下解讀這個指引？

Yes. I think the -- we are coming off, I would say, the first half were a bit of a more even easy comp for us. And essentially, we still have about 1/3 of our customer or revenue base that's still on a monthly SKU. So the billings is not necessarily the best indicator of our growth, but we're really encouraged by both like the calculated billings and the RPO growing so substantial -- having really strong growth.

是的。我想——我們剛走過的上半年，我會說對我們而言是相對更平均、也比較容易的比較基期。基本上，我們仍有大約 1/3 的客戶或營收基礎仍在月付 SKU 上。因此，billings 不一定是我們成長的最佳指標，但我們對計算後的 billings（calculated billings）以及 RPO 的大幅成長——呈現非常強勁的成長——感到非常振奮。

And that's really indicative of the momentum that we're seeing on the enterprise side, that contracts and deals are getting larger. Some customers are even doing multiyear deals with us. So I think those are all really encouraging side around the enterprise side of the business.

而這確實反映了我們在企業端看到的動能：合約與交易規模正在變大。有些客戶甚至與我們簽訂多年期合約。所以我認為，這些都是企業端業務非常令人鼓舞的面向。

Your next question is from Rishi Jaluria with RBC Capital Markets.

下一個問題來自 RBC Capital Markets 的 Rishi Jaluria。

This is Matt Hedberg on for Richie. Nice to see continued leverage on the sales and marketing line. If I think about the kind of top line outperformance you had in the quarter in accelerating revenue, can you talk about are you revising your expectations on quota-carrying sales capacity hires? And then maybe more broadly, just talk about the competitive market for talent acquisition and sales capacity.

我是代替 Richie 的 Matt Hedberg。很高興看到你們在銷售與行銷費用線上持續展現槓桿效益。如果我從本季你們在營收加速成長、帶來的營收超預期來看，你們是否正在調整對具配額責任（quota-carrying）的銷售產能招募預期？另外更廣泛地，也請談談人才招募與銷售產能方面的競爭市場狀況。

Yes. I would say we're really encouraged by the performance of the sales team and the sales -- all the sales reps that we've hired, and that's been with us.

是的。我會說我們對銷售團隊的表現、以及我們所招募並已加入的所有銷售代表的表現感到非常鼓舞。

We're not making any changes right now. But I think what we're seeing is kind of the demand in the market continues to be strong. The conversations are becoming more strategic and that the types of deals are being much more complex and thoughtful over a longer period of time. So I think those are just like all really encouraging signs. What do you think, Chris?

我們目前沒有做任何調整。但我認為我們看到的是，市場需求仍然強勁。對話正變得更具策略性，而交易類型也變得更複雜，並且在更長的時間跨度內更審慎、更周全地推進。所以我覺得這些都是非常令人鼓舞的訊號。Chris，你怎麼看？

Yes. Maybe some more color on we just have sales capacity and hiring. So we're aggressively hiring around the world on the sales and go-to-market teams to ensure global coverage for demand.

是的。我再補充一些關於銷售產能與招募的細節。我們正在全球範圍內積極招募銷售與 go-to-market 團隊的人才，以確保能以全球覆蓋來承接需求。

One bit of news that's new is we're opening a new Chicago office this year to serve the untapped demand in the United States. And then the other thing I would add is beyond how big the market op is and how fast we're growing and our differentiation, it's helping us to attract talent that we're seeing as one of the best places to work in tech. And we see that as a real strength and opportunity to help us keep growing quickly.

有一則新的消息是，我們今年將在芝加哥開設新辦公室，以服務美國尚未被充分滿足的需求。另一點我想補充的是，除了市場機會有多大、我們成長有多快、以及我們的差異化之外，這也幫助我們吸引人才——我們被視為科技業最適合工作的公司之一。我們把這視為一項真正的優勢與機會，能幫助我們持續快速成長。

Got you. That's helpful. And then one more for us on guidance. It looks like 4Q guidance implied -- kind of implies a bit of a deceleration there. Can you just talk about your assumptions on the full year guide?

了解，這很有幫助。再問一個關於指引的問題。看起來第 4 季指引——似乎暗示成長會有些放緩。你們能談談對全年指引的假設嗎？

I think we're really encouraged by the momentum that we've seen in the business, kind of the -- both on the top of the funnel, customer growth and seat growth as well as kind of ACV, ASP growth. What I would say is we've already increased guidance to $20 million and really encouraged by the momentum we're seeing in the business.

我想我們對目前在業務上看到的動能感到非常鼓舞——包括漏斗上端、客戶成長與席位成長，以及 ACV、ASP 的成長。我想說的是，我們已經把指引上調了 2,000 萬美元，並且對我們在業務中看到的動能感到非常振奮。

Congrats on the quarter.

恭喜本季表現。

Next question is from Pat Walravens with JMP.

下一個問題來自 JMP 的 Pat Walravens。

Great. And let me add my congratulations. The momentum is really remarkable to see. So Anne, congratulations on the new role. I am guessing that you took the opportunity to talk to a bunch of senior executives about the space and about Asana before taking the job. And I would love to know what you heard. And then maybe related to that, what's your sort of #1 priority right now?

很好。也讓我補上一句恭喜。這股動能真的令人印象深刻。Anne，恭喜你擔任新職務。我猜在接下這份工作之前，你應該把握機會和不少資深主管聊過這個領域以及 Asana。我很想知道你聽到了什麼。以及可能相關地，你目前的第一優先事項是什麼？

Thanks so much, Pat. I'm so excited to be here. And you're right, the conversations I've had over -- especially the last year -- for executives, the importance of clarity and really knowing who's doing what by when in an environment of such rapid change and uncertainty has boiled to the top of their list of things that they have to solve.

非常感謝你，Pat。我很興奮能加入。你說得對，尤其在過去一年裡我進行的這些對話——對高階主管而言，在如此快速變動與不確定的環境中，釐清方向、並真正知道誰在什麼時候要做什麼，其重要性已經躍升到他們必須解決事項清單的最前面。

And so having spent the last 2 years on the Asana Board and seeing the strength of the team and the strategy, my priorities really are just to continue to invest in the momentum that we have and the incredible team.

因此，在過去兩年擔任 Asana 董事會成員、並看到團隊與策略的強大之後，我的優先事項就是持續投資於我們既有的動能，以及這支卓越的團隊。

Okay. And how do you do that?

好的。那你們是怎麼做到的？

Well, so as Chris had mentioned, we are continuing to make sure that we're bringing the best people in and ramping our sales and marketing teams in every geography. We've been really impressed with the progress with our GM. So that's a top priority.

嗯，正如 Chris 提到的，我們會持續確保引進最優秀的人才，並在各個地區擴編並加速我們的銷售與行銷團隊。我們對我們 GM 的進展印象非常深刻。所以這是最優先事項。

And then continuing to make sure our large deployments that we've been talking about are really successful and fueling that adoption, I think that those are key priorities for all of us.

然後，持續確保我們一直在談的那些大型部署真正成功，並推動採用。我認為這些是我們所有人的關鍵優先事項。

Awesome. Congratulations again.

太棒了。再次恭喜。

Your next question is from Alex Zukin with Wolfe Research.

下一個問題來自 Wolfe Research 的 Alex Zukin。

Congrats on another great quarter. I guess maybe for anybody, the questions -- maybe in 2 parts. Clearly, the net adds are fairly exceptional in the first half. They're the strongest in your history. But at the same time, you're also seeing great enterprise traction from your existing customers.

恭喜又一個很棒的季度。我想問題可能分成兩部分。很明顯，上半年淨新增相當亮眼，是你們歷史上最強的表現。但同時，你們也看到既有客戶帶來很好的企業端動能。

So maybe first, how should we think about the pace of net adds in the second half and beyond? And also, if you look at the bookings mix, how are we thinking about -- or how are you thinking about the split of bookings from new versus existing customers? And how does that, kind of, trend forward as you get some of these much larger opportunities within your base?

所以首先，我們應該如何看待下半年以及之後淨新增的節奏？另外，如果看預訂（bookings）組合，你們如何看待新客戶與既有客戶帶來的預訂拆分？當你們在既有客戶基礎中拿到一些更大型的機會時，這個趨勢未來會如何演變？

Yes. Alex, this is Tim. Just from a kind of a net adds perspective, obviously, I think there's always going to be some quarterly fluctuations. I think I may have mentioned it before on this call that generally in Q3, 40% of our business is outside the U.S. And in August, Europe is a little bit slower. So you can kind of expect a little bit of a slower month in terms of Europe from a customer add perspective.

是的。Alex，我是 Tim。就淨新增的角度來看，很明顯我認為每季總會有一些波動。我想我之前在這通電話裡也提過，一般來說在 Q3，我們有 40% 的業務在美國以外。而在 8 月，歐洲會稍微慢一些。所以從新增客戶的角度，你可以預期歐洲會有一個相對較慢的月份。

But over the long term, I think if you kind of look at our net adds on a customer basis, we've been growing our customer base anywhere between 20% to 30% year-over-year. So I think that's like a trend that we're focused on and want to continue to drive.

但從長期來看，如果你看我們以客戶數為基礎的淨新增，我們的客戶基礎年增大約在 20% 到 30% 之間。所以我認為這是我們關注並希望持續推動的趨勢。

And then from a bookings perspective, what I would say is from new bookings, generally, we see anywhere between 40% to 45% and then expansion from existing customer is anywhere from 55% to 60%. And that trend, I would say, we are seeing more of the trend shifting towards more expansion as we get more larger deals.

然後從預訂（bookings）的角度，我會說新預訂一般約占 40% 到 45%，而既有客戶的擴張約占 55% 到 60%。而這個趨勢，我會說，隨著我們拿到更多大型交易，我們看到更多往擴張占比提高的方向移動。

But it's really important for us to continue to add new customers and teams of all sizes, because we know once they adopt our net expansion rate, as you've seen that it's over 118%, as we get more teams adopted, those rates tend to move up as their spend increases.

但對我們來說，持續新增各種規模的新客戶與團隊仍然非常重要，因為我們知道一旦他們採用，我們的淨擴張率如你所見超過 118%，隨著更多團隊採用，當他們的支出增加時，這些比率往往會上升。

And your next question is from Andrew DeGasperi with Berenberg.

下一個問題來自 Berenberg 的 Andrew DeGasperi。

First, I guess, on international. I know you addressed the mix outside the U.S. So I was just wondering, how is that expansion plan trending? You've launched that channel program earlier this year. Just if you could elaborate on that and maybe provide us an update on how that's going?

首先，我想問國際市場。我知道你們提到了美國以外的組合。我想了解一下，那個擴張計畫的進展如何？你們今年稍早推出了通路計畫。能否請你們多談一些，並提供一下目前的進度更新？

Okay. This is Chris. Thanks for your question. So on the regional side, we see strong growth across the global markets that we focus in. The split hasn't really changed too much.

好的。我是 Chris。謝謝你的問題。就區域面來看，我們在所聚焦的全球市場都看到強勁成長。占比拆分其實沒有太大變化。

Asana is now available in 13 languages, so they're all live now. And clearly, that will drive growth in a lot of the Zoom markets. I think the combined net new languages bring us or the TAM to like 4 billion information workers worldwide.

Asana 現在提供 13 種語言，所以目前都已上線。很明顯，這將推動許多 Zoom 市場的成長。我認為新增的語言合計讓我們的 TAM 大約達到全球 40 億名資訊工作者。

And the big wins and expansions we talked about across the regions were really -- they were -- the big wins this quarter really spread across the regions.

而我們在各區域談到的大型勝利與擴張，確實——它們——本季的大型勝利其實分布在各個區域。

And on the channel side, the sort of 2 focused investment areas there. One is continued focus on our technology and integration partners. And there, a couple of new things to note. We mentioned over the quarter that we announced this integration with Vimeo, and we're seeing really good early traction with that technology embedded with Asana for video messaging and enables synchronous status updates in an engaging way.

在通路方面，我們有兩個重點投資領域。第一個是持續聚焦我們的技術與整合夥伴。這裡有幾個新的重點值得一提。我們在本季提到，我們宣布與 Vimeo 的整合，我們看到非常好的早期動能，這項技術以影片訊息的方式嵌入 Asana，並以更具互動性的方式支援同步狀態更新。

The other is we did a feature partnership with Zoom when they launched their app store. And I'm really excited about the deep integration we're seeing there. It brings structure and accountability to meetings. And Zoom is also actually a fast-growing customer and growing partner.

第二個是當 Zoom 推出他們的應用程式商店時，我們與 Zoom 做了功能合作夥伴關係。我對我們在那裡看到的深度整合感到非常興奮。它為會議帶來結構與責任歸屬。而 Zoom 其實也是成長很快的客戶與成長中的合作夥伴。

And on the channel side in the regions, the program continues to grow quickly. We're seeing particular traction from our enterprise-focused channel partners. The channel network is across 75 countries. It's a growing and important part of our business. It's not yet like a material part of the business. but it's definitely bearing fruit. And as an example, we closed one of our largest channel deals in Q2 in India.

而在各區域的通路方面，這個計畫持續快速成長。我們特別看到來自以企業為導向的通路夥伴的動能。通路網路覆蓋 75 個國家。它是我們業務中正在成長且重要的一部分。它目前還不是業務中「具重大性」的一部分，但確實正在開花結果。舉例來說，我們在 Q2 於印度透過通路成交了我們最大的通路交易之一。

That's helpful. And then maybe on -- I'm seeing the noncurrent deferred inching up over the last few quarters. I was just wondering, should we be seeing more multiyear agreements coming through as you expand upmarket, so to speak?

這很有幫助。接著可能問一下——我看到非流動遞延收入在過去幾季逐步上升。我想了解，隨著你們所謂的往上打入更大型市場，是否會看到更多多年期協議出現？

Yes. So ELAs and multiyear contracts are more common as we are engaging with larger enterprises more and more. We don't do all-you-can-eat forever ELAs. We work with customers to structure pricing that scales with usage, so typically tiered by seat numbers.

是的。隨著我們越來越多地與大型企業合作，ELA 與多年期合約會更常見。我們不做那種「吃到飽、永久」的 ELA。我們會與客戶合作，設計能隨使用量擴展的定價，因此通常會依座位數分級。

We mentioned some of the -- I mentioned some of the customer examples of ELAs in earnings. Maybe I can give you a little more color on 1 or 2 more. That large Global 50 company that Dustin talked about, that was on top of rapid adoption, and that's a 2-year global ELA. And that's really driven by employee demand for a better tool to coordinate work. It's being used for hundreds of use cases, including road map planning, content production, marketing campaigns, new hire recruiting, all those sorts of things.

我們在財報中提到了一些——我提到了一些 ELA 的客戶案例。也許我可以再補充 1 到 2 個例子。Dustin 談到的那家大型 Global 50 公司，除了快速採用之外，那是一份為期 2 年的全球 ELA。這主要是由員工對更好協作工具的需求所驅動。它被用在數百種使用情境上，包括路線圖規劃、內容製作、行銷活動、新人招募，以及各種這類事情。

And a number of the other deals we talked about were 2- or 3-year ELAs as well. So yes, that's becoming more common as we move upmarket.

而我們談到的其他一些交易也同樣是 2 年或 3 年期的 ELA。所以是的，隨著我們往上打入更大型市場，這正變得更常見。

Our next question is from Keith Weiss with Morgan Stanley.

下一個問題來自 Morgan Stanley 的 Keith Weiss。

Excellent. Congratulations on a really nice quarter and really outstanding first half of this fiscal year.

非常好。恭喜你們交出非常漂亮的一季，以及本會計年度上半年非常出色的表現。

I want to dig in a little bit more on that customer count number. I'm looking at that 12,806 in the spreadsheet that Catherine sent over. That's up 1,534 from last quarter, 161% increase from what you guys added in the year ago period.

我想更深入探討一下那個客戶數字。我在 Catherine 傳來的試算表裡看到 12,806，較上季增加 1,534，比去年同期你們新增的數量高出 161%。

I know, Tim, you're talking about sort of easier comps, but that's an outstanding number right there. Two questions on that. One, does that come solely from just an expanded investment in the traditional, kind of, go-to-market channels? Or was there any change in go-to-market? Anything that really opened up for you guys to allow for that customer account to increase?

Tim，我知道你提到比較基期較容易，但這個數字真的很亮眼。對此我有兩個問題。第一，這是否完全來自於你們在傳統、所謂 go-to-market 通路上的投資擴大？還是你們的 go-to-market 有任何改變？有沒有什麼真正為你們打開了局面，讓客戶數能增加這麼多？

And then two, we've seen good results across a lot of your competitors as well. It seems like the market is really hot right now overall for these types of solutions. Is some of this a release of pent-up demand that came from last year, and we should be a little bit wary about extending this type of strength too far into the future? Or do you think these trends are going to really prove durable over time in terms of how quickly the demand is coming to you guys within this marketplace?

第二，我們也看到你們許多競爭對手的表現不錯。整體來看，這類解決方案的市場現在似乎非常火熱。這其中有一部分是否是去年累積的被壓抑需求釋放出來，因此我們對把這種強勁表現延伸到太遠的未來要稍微謹慎？還是你認為，從這個市場需求湧向你們的速度來看，這些趨勢會隨時間證明是可持續的？

Yes, sure. That was a lot. I want to make sure I got. What was the first question? I want to make sure I heard that correctly.

是的，當然。這問題很多。我想確認我有聽清楚。第一個問題是什麼？我想確保我聽對了。

So the first question was more about distribution. Any significant changes in distribution, that enables that customer count to grow so much.

第一個問題比較是關於分銷／通路。有沒有任何重大的通路變化，使得客戶數能成長這麼多。

Yes. So I mean, our top of funnel strategy is working really well. As we mentioned, we had record top of funnel and demand. It's a blended paid organic product-led growth approach.

是的。所以我的意思是，我們的漏斗頂端策略運作得非常好。正如我們提到的，我們的漏斗頂端與需求都創下紀錄。這是一種結合付費與自然、以產品帶動成長（product-led growth）的混合式方法。

The thing that's sort of net new or incremental to your question recently is those new languages. So those new languages are opening and expanding Asana up in new markets, and we're definitely seeing growth in terms of new customer logos in those new markets where those new languages are driving it.

就你這個問題而言，最近比較算是全新或增量的部分是那些新語言。因此，這些新語言正在協助 Asana 在新市場開拓並擴張，我們也確實看到在這些新語言所帶動的新市場中，新客戶標誌（logo）數量呈現成長。

Yes. I would just add that just to be straightforward, I don't really see it as a pent-up demand thing. I think it's more about the category maturing and our product offering maturing. So the value proposition is really resonating, and this is really just the beginning. So I think there's going to be a lot more big deals in our future and a lot more expansion.

是的。我想補充的是，坦白說，我不太把它看作是「被壓抑的需求」釋放。我認為這更多是類別在成熟、以及我們的產品供給在成熟。因此，我們的價值主張確實引起強烈共鳴，而這其實才剛開始。我認為未來會有更多大型交易，以及更多擴張。

I would also note, just the way you framed the first question, not all of the new customers in that greater than 5000 segment are new landed deals. Some of them are ones that started smaller than that and moved across the line as part of our land-and-expand model. And so I think we're really just going to be building on that momentum.

我也想指出，就你第一個問題的表述方式而言，在「超過 5,000」這個區間的新客戶，並不全都是新落地（landed）的交易。其中有些是起初規模小於這個門檻，之後在我們「落地並擴張」（land-and-expand）模式下跨過門檻的。因此，我認為我們會在這股動能之上持續累積。

And I just want to take a moment to reiterate the event that we're hosting on October 20, an event called Scale, that is all about serving the needs of these larger customers in the enterprise segment. So we're going to unveil a suite of new features designed to help large enterprises align their teams, automate that cross teamwork, and adapt more flexibly to this really fluid business environment.

我也想花點時間再次強調我們在 10 月 20 日主辦的活動，名為 Scale，重點在於滿足企業級（enterprise）中這些較大型客戶的需求。我們將發表一系列新功能，旨在協助大型企業讓團隊對齊、將跨團隊協作自動化，並更靈活地因應這個非常流動的商業環境。

Anne mentioned earlier, she's going to be hosting that. I'll also have a little segment. And our product team is going to be demoing new functionality that's going to help executives with team alignment, workflow and work insights, as well as talk about some of the scale, security and platform innovations that we're going to have for global CIOs and IT teams. So that's all about how we continue that growth into the future.

Anne 先前提到她會主持該活動。我也會有一小段分享。我們的產品團隊將展示新功能，協助高階主管進行團隊對齊、工作流程與工作洞察（work insights），並談到我們將為全球 CIO 與 IT 團隊帶來的一些規模化（scale）、安全性與平台創新。這些都關乎我們如何在未來持續成長。

Our next question is from Mark Murphy with JPMorgan.

下一個問題來自 JPMorgan 的 Mark Murphy。

This is Matt Coss on behalf of Mark Murphy. In all of your sales and marketing activities, in which areas do you think you're seeing the best ROI conversion? And are there any areas among sales and marketing spending that lend themselves, or that might lend themselves to greater efficiency in the near term?

我是 Matt Coss，代表 Mark Murphy 提問。在你們所有的銷售與行銷活動中，你們認為在哪些領域看到最佳的投資報酬率（ROI）轉換？另外，在銷售與行銷支出中，有沒有任何領域在短期內具備、或可能具備更高效率的空間？

Matt, this is Tim. I would say we -- our top of the funnel has maintained -- has continued to be really strong. And the thing that we looked at is obviously like the payback of our sales and marketing.

Matt，我是 Tim。我會說——我們的漏斗頂端（top of the funnel）一直維持——並持續非常強勁。而我們關注的重點當然是銷售與行銷的回收期（payback）。

Even when looking back at the last 2 quarters, our payback has been in the mid-teens. And I would say we're testing different channels all the time. There are channels that are more efficient and that we pour more money in to acquire more customers, and there are channels that we test. And sometimes they're less efficient, and over time, we dial back those channels.

即使回看過去兩個季度，我們的回收期也在十幾個月的中段。我會說我們一直在測試不同的渠道。有些渠道效率更高，我們就投入更多資金以獲取更多客戶；也有一些渠道我們會測試，有時效率較低，隨著時間推移，我們會調降在那些渠道的投入。

But on a blended basis, the unit economics continue to be strong, and our payback has been in the mid-teens over the last couple of quarters. So we really -- we feel really confident about the investments that we're making on the sales and marketing.

但以整體（blended）來看，單位經濟（unit economics）仍然強勁，而過去幾個季度我們的回收期都在十幾個月的中段。因此我們對在銷售與行銷上的投資非常——非常有信心。

I would also just add that, that's a very sort of acquisition-focused answer. But the other side of this is really about sales and expansion. And our larger customers have -- expand faster, they retain better, and so that leads to those much higher net dollar retention rates, so 145% for our customers spending $50,000 or more. And so when we can support those customers and make them more successful, that just directly translates to better efficiency on our sales and marketing efforts.

我也想補充，剛才那是一個非常偏向獲客（acquisition）的回答。但另一方面其實是關於銷售與擴張。我們的大型客戶——擴張更快、留存更好，因此帶來更高的淨美元留存率（net dollar retention），例如年支出 50,000 美元以上客戶的淨美元留存率為 145%。因此，當我們能支援這些客戶並讓他們更成功時，就會直接轉化為我們銷售與行銷工作的更高效率。

For our last question, we have Rob Oliver with Baird.

最後一個問題，我們請到 Baird 的 Rob Oliver。

I have 2, Dustin one for you and then Chris, I had a follow-up for you as well.

我有兩個問題，Dustin 一個給你，然後 Chris，我也有一個追問給你。

So Dustin, I'm just curious, as you guys really start to break into these much, much larger enterprise seat opportunities, in some cases, whole companies. You guys laid out this framework around your product early on and Pyramid of Clarity was one of those things.

所以 Dustin，我很好奇，當你們真的開始切入這些更、更大型的企業席位（seat）機會時，在某些情況下甚至是整家公司。你們早期提出了這個圍繞產品的框架，而「清晰金字塔」（Pyramid of Clarity）就是其中之一。

And in your prepared remarks, you talked about individual teams and executives. So just curious as to -- assuming you're involved with some of these larger deals, are you starting to see that Pyramid of Clarity for you guys extend up to the executive suite in some of these deployments where that's even at the C level, they're benefiting from Asana kind of driving some of that operational clarity that know is happening at the knowledge worker level? And then I had one follow-up.

而在你們的事先準備發言中，你談到了個別團隊與高階主管。所以我想問——假設你參與了一些這類大型交易，你是否開始看到你們的「清晰金字塔」延伸到這些部署中的高階主管層（executive suite），甚至到 C-level？他們是否也受益於 Asana 在知識工作者層級所帶來、正在發生的那種營運清晰度？然後我還有一個追問。

Yes, absolutely. Particularly when we use wall-to-wall, that's always going to include the executives themselves, but even when that's not true.

是的，絕對是。特別是當我們採用「全面覆蓋」（wall-to-wall）時，那一定會包含高階主管本身，但即使不是那樣。

And yes, the clarity at the top of the pyramid from a product perspective, I really think about that in terms of the universal reporting functionality, portfolios and goals. And all of those have been resonating very well with senior leaders in these large customers. So I think that's a big part of our success.

而且是的，從產品角度來看，金字塔頂端的清晰度，我主要會以通用報表（universal reporting）功能、投資組合（portfolios）與目標（goals）來思考。這些在大型客戶的資深領導者之間都引起了非常好的共鳴。因此我認為這是我們成功的一大部分。

Okay. Great. And then Chris, just one for you, and congrats on a well-deserved retirement. But before -- I just had a question on the partner network. You talked about it a little bit in response to a previous question. And it sounds like it is bearing fruit internationally. You mentioned the large deal in India and assuming that with you guys being in a lot more countries now that channel partners that will matter there internationally.

好的。很好。接著 Chris，我也有一個問題要問你，並恭喜你實至名歸的退休。不過在——我想問一下合作夥伴網路（partner network）。你在回應先前的問題時稍微提到了一些。聽起來它在國際市場正在開花結果。你提到印度那筆大型交易，而且假設你們現在進入更多國家，渠道合作夥伴在國際上會很重要。

Can you just talk about how you guys are conceiving with channel partners here in North America as well? And whether they're currently involved in some of these larger deployments and how you see that evolving over the next couple of years? Or maybe that's also for Anne.

你能談談你們在北美這邊是如何看待渠道合作夥伴的嗎？以及他們目前是否參與了某些較大型的部署，你又如何看待未來幾年這會如何演變？或者這題也可以由 Anne 來回答。

Yes, sure. No, great question, and thank you for the congratulations. So yes, our channel partner is really strategic as we talked about recently. I would say that typically, the focus is a little bit different in North America than in international.

好的，當然。這是個很好的問題，也謝謝你的祝賀。是的，正如我們最近談到的，我們的渠道合作夥伴確實具有策略性。我會說，通常北美的重點會和國際市場有些不同。

In international, a lot of it is about coverage and new markets.and reach where we don't have reps and that kind of thing. In the U.S., we're seeing a lot more traction. Sometimes it's around new segments where we don't have coverage to complement the team, but it's also about services and providing total sort of mind share with the customer, with the folks they want to work with on the deployment and services side, and that's what's driving a lot of the North American deals.

在國際市場，很多是關於覆蓋（coverage）與新市場的拓展與觸及——在我們沒有業務代表的地方，以及諸如此類。在美國，我們看到更多進展。有時是針對我們覆蓋不足的新細分市場，用來補強團隊；但也與服務有關，提供某種「全方位的心智佔有」（mind share）給客戶——也就是在部署與服務端，與客戶希望合作的那些人一起工作，而這正是推動許多北美交易的因素。

So I think in the future, we could probably add color on the involvement of partners in some of these deals, I'd expect we'll be able to share that with you in the future.

所以我認為未來，我們可能可以就合作夥伴在其中一些交易中的參與程度提供更多說明；我預期未來我們能與你分享更多。

And with that, I will now turn the call back over to Catherine Buan.

接下來，我將把電話會議交回給 Catherine Buan。

Great. Thanks very much, operator, and thank you, everyone, for joining us today. Please feel free to reach out and call if you have any follow-up questions, as usual. And we are looking forward to seeing you on the road or over Zoom this quarter. Thanks again.

很好。非常感謝，接線員，也謝謝各位今天加入我們。如同往常，如果你有任何後續問題，歡迎隨時聯繫並來電。我們也期待本季在出差行程上或透過 Zoom 與各位見面。再次感謝。

This does conclude today's conference call. Thank you for your participation. You may now disconnect.

今天的電話會議到此結束。感謝各位的參與。您現在可以掛線。