(ASAN) 2022 Q4 法說會逐字稿

Good evening, and thank you for attending today's Asana Fourth Quarter and Fiscal Year 2022 Earnings Call. My name is Selena, and I will be your moderator. (Operator Instructions) I would now like to pass the conference over to our host, Catherine Buan, Head of Investor Relations at Asana. Please go ahead.

晚上好，感謝您參加今天的 Asana 第四季度和 2022 財年財報電話會議。我的名字是賽琳娜，我將成為你的主持人。 （操作員說明）我現在想將會議轉交給我們的主持人，Asana 投資者關係主管 Catherine Buan。請繼續。

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

下午好，感謝您參加今天的電話會議，討論 Asana 第四季度和 2022 財年的財務業績。今天與我通話的是 Asana 的聯合創始人兼首席執行官 Dustin Moskovitz；我們的首席財務官 Tim Wan；和我們的首席運營官兼業務主管 Anne Raimondi。

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

今天的電話會議將包括前瞻性陳述，包括關於我們的財務前景、市場地位和增長機會的陳述。前瞻性陳述涉及風險、不確定性和假設，可能導致我們的實際結果與前瞻性陳述中明示或暗示的結果存在重大差異。請參閱我們向美國證券交易委員會提交的文件，包括我們最近的 10-Q 表格季度報告，以獲取有關可能導致實際結果與此類聲明中所述內容存在重大差異的風險、不確定性和假設的更多信息。

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

此外，在今天的電話會議中，我們將討論非 GAAP 財務指標。這些非公認會計原則財務指標是對根據公認會計原則編制的財務業績指標的補充，而不是替代或優於這些指標。 GAAP 和非 GAAP 財務指標之間的對賬以及使用非 GAAP 指標與其最接近的 GAAP 等值指標的局限性的討論可在我們的收益發布中找到，該發布發佈在我們的投資者關係網頁上，位於investors.asana.com。

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

有了這個，我想把電話轉給達斯汀。

Thank you, Catherine. I'm excited to talk about our business results, but I wish I didn't have to do it against the backdrop of the humanitarian crisis in Ukraine. Our thoughts are with all those who are personally impacted by the situation in the region.

謝謝你，凱瑟琳。我很高興談論我們的業務成果，但我希望我不必在烏克蘭人道主義危機的背景下這樣做。我們與所有受到該地區局勢影響的人同在。

We had a strong Q4, which capped off a great fiscal year. I continue to be really proud of our team, our mission-driven culture and what we've achieved together. As you can see from our results, our product-led strategy and execution drove accelerated revenue growth to 67% year-over-year versus 59% last fiscal year.

我們有一個強勁的第四季度，這為一個偉大的財政年度畫上了句號。我繼續為我們的團隊、我們以使命為導向的文化以及我們共同取得的成就感到自豪。正如您從我們的結果中看到的那樣，我們以產品為主導的戰略和執行推動收入同比增長加速至 67%，而上一財年為 59%。

We saw continued strength in the enterprise with 340 customers spending $100,000 or more on an annualized basis. Those with the biggest investments also significantly increased their footprint, with the dollar-based net retention of this cohort much higher than the $50,000 or more cohort in Q4. For example, our largest customer is now spending well into 8 figures with more than 50,000 paying seats and growing. Their continued investment speaks to the power of the Asana Work Graph, our proprietary technology that enables cross-functional teams to work together at a global scale.

我們看到了企業的持續實力，有 340 名客戶每年花費 100,000 美元或更多。那些投資最大的人也顯著增加了他們的足跡，這一群體的美元淨留存率遠高於第四季度的 50,000 美元或更多群體。例如，我們最大的客戶現在的支出達到了 8 位數，擁有超過 50,000 個付費席位並且還在不斷增長。他們的持續投資證明了 Asana Work Graph 的力量，這是我們的專有技術，使跨職能團隊能夠在全球範圍內一起工作。

Customer adoption is at record levels with well over 2 million paid users. We partner closely with our customers to help them succeed at their missions and co-create our product road map through channels like Asana's Voice of the Customer program.

客戶採用率達到創紀錄水平，付費用戶超過 200 萬。我們與客戶密切合作，幫助他們成功完成任務，並通過 Asana 的客戶之聲計劃等渠道共同製定我們的產品路線圖。

Speaking of products, we launched more than 200 features last year, a rate of more than 4 features every week. We also have a large and rapidly growing Asana Together Community, now representing more than 3,800 Asana ambassadors around the world. Our talent and culture is what makes these results possible. I'm proud to share that Asana has grown to over 1,600 employees and earned a record of 16 total workplace awards in 2021, with 3 awards ranking us at #1. These included Fortune's Best Workplaces in the Bay Area, in Tech and for Millennials.

說到產品，我們去年推出了 200 多個功能，每週發布超過 4 個功能。我們還有一個龐大且快速發展的 Asana Together 社區，現在代表著全球 3,800 多名 Asana 大使。我們的才能和文化使這些成果成為可能。我很自豪地分享，Asana 已經發展到 1,600 多名員工，並在 2021 年獲得了 16 個工作場所獎項的記錄，其中 3 個獎項將我們排名第一。其中包括《財富》雜誌在灣區、科技領域和千禧一代的最佳工作場所。

We're entering the new year with incredible momentum, and as companies look to drive their most critical initiatives they are increasingly turning to us. While others are building suites of collaboration products for small teams, our strategy is different. We're a pure-play work management company, committed to leading the category and building the most comprehensive platform capable of serving organizations of all sizes around the world.

我們正以令人難以置信的勢頭進入新的一年，隨著公司希望推動他們最關鍵的舉措，他們越來越多地轉向我們。雖然其他人正在為小型團隊構建協作產品套件，但我們的策略卻有所不同。我們是一家純粹的工作管理公司，致力於引領品類，打造最全面的平台，為全球各種規模的組織提供服務。

Teams are organized functionally, but most work gets done cross-functionally. That's also where the greatest opportunity is for reducing friction and increasing impact. Asana is a great platform for cross team work, thanks to our ability to serve as a system of record across different projects. This is one of our big differentiators and the key to supporting large complex organizations. The larger the team and more cross-functional use cases, the faster Asana can expand.

團隊是按職能組織的，但大多數工作都是跨職能完成的。這也是減少摩擦和增加影響的最大機會。 Asana 是跨團隊工作的絕佳平台，這要歸功於我們能夠作為跨不同項目的記錄系統。這是我們最大的差異化因素之一，也是支持大型複雜組織的關鍵。團隊越大，跨職能的用例越多，Asana 的擴展速度就越快。

These trends give us the confidence to invest aggressively, particularly in the enterprise. We're initiating top line guidance for Q1 representing 50% growth year-over-year. We're also initiating fiscal 2023 revenue guidance at 40% growth year-over-year at the midpoint of the guidance range.

這些趨勢使我們有信心積極投資，尤其是在企業方面。我們正在啟動第一季度的頂線指導，表示同比增長 50%。我們還將啟動 2023 財年的收入指導，在指導範圍的中點實現 40% 的同比增長。

As we enter fiscal year 2023, we have a strong product cycle ahead. We'll continue to focus heavily on our Enterprise Work Graph, improving on and expanding the functionality required by the largest and most complex organizations. We're already off to a fast start to the year, launching products out of the gate. On February 15, we introduced Asana Flow, a suite of new features, purpose-built to enable workflow automation across an entire organization.

隨著我們進入 2023 財年，我們將迎來強勁的產品週期。我們將繼續重點關注我們的企業工作圖，改進和擴展最大和最複雜的組織所需的功能。我們已經在今年快速開始，推出產品。 2 月 15 日，我們推出了 Asana Flow，這是一套新功能，旨在實現整個組織的工作流程自動化。

It used to be that only IT or system administrators could build workflows. We democratize that power with Workflow Builder, a point-and-click tool that makes it easy for every knowledge worker to create automated workflows. Importantly, you can also add everyday apps like Slack, Adobe Creative Cloud, Salesforce and Zoom, right into your workflows, plus 2 new additions to Asana partners that were Miro and Jotform. This means Asana can serve as the connective tissue across existing best-of-breed collaboration tools.

過去只有 IT 或系統管理員可以構建工作流。我們通過 Workflow Builder 普及這種功能，這是一種點擊式工具，可讓每個知識工作者輕鬆創建自動化工作流。重要的是，您還可以將 Slack、Adobe Creative Cloud、Salesforce 和 Zoom 等日常應用程序添加到您的工作流程中，以及 Miro 和 Jotform 這兩個 Asana 合作夥伴的新增功能。這意味著 Asana 可以作為現有最佳協作工具的結締組織。

Our customer base is already fanatical about this launch. We had a combined 12,000 people registered for a recent Learn-a-thon and live Asana Flow demo. And in only 3 weeks, 200,000 users have tried Workflow Builder with 42,000 rules created. Our redesigned Template Library is where you can save, share and reuse your most successful workflows. It also features industry-approved templates made in collaboration with leading organizations around the globe.

我們的客戶群已經對此次發布感到狂熱。我們共有 12,000 人註冊了最近的 Learn-a-thon 和現場 Asana Flow 演示。僅在 3 週內，就有 200,000 名用戶試用了 Workflow Builder，並創建了 42,000 條規則。我們重新設計的模板庫是您可以保存、共享和重複使用最成功的工作流程的地方。它還具有與全球領先組織合作製作的行業認可的模板。

This year, we'll build on this launch with part of our road map dedicated to adding more partners and more capabilities.

今年，我們將在此次發布的基礎上，加入我們的部分路線圖，致力於增加更多合作夥伴和更多功能。

Our next big product moment is Asana's Employee Impact Suite in Q2, which will give leaders a blueprint for how to better leverage the power of their people. We'll be announcing several product enhancements to help employees operate with clarity of purpose, due to most impactful work and feel valued for their contributions. These enhancements will help them find flow and limit distractions and keep them in sync with their team members.

我們的下一個重要產品時刻是 Asana 在第二季度推出的 Employee Impact Suite，它將為領導者提供如何更好地利用員工力量的藍圖。我們將宣布幾項產品增強功能，以幫助員工以明確的目標開展工作，因為他們的工作最具影響力，並且他們的貢獻受到重視。這些增強功能將幫助他們找到心流並限制分心，並使他們與團隊成員保持同步。

Our investments in creating high-level clarity also means building on the adoption and capabilities of features like reporting and goals and the ability to better track the time spent on the work done in support of these goals. We're seeing incredible early adoption of our Goal's products by existing customers like Benevity and Xero. These companies care deeply about employee engagement, and as a result, have chosen to go wall-to-wall with Asana as their work platform of choice. You'll see even more enhancements to Goals and functionality to better support larger enterprise companies over time.

我們在創建高層次清晰度方面的投資還意味著建立在報告和目標等功能的採用和功能上，以及更好地跟踪為支持這些目標而完成的工作所花費的時間的能力。我們看到 Benevity 和 Xero 等現有客戶對我們 Goal 產品的早期採用令人難以置信。這些公司非常關心員工敬業度，因此，他們選擇將 Asana 作為他們選擇的工作平台。隨著時間的推移，您將看到對目標和功能的更多增強，以更好地支持大型企業公司。

What ties this all together is an emphasis on helping large organizations get clarity around their Work Graph and simplify workflows, something Asana is uniquely capable of doing.

將這一切聯繫在一起的重點是幫助大型組織清楚地了解他們的工作圖並簡化工作流程，這是 Asana 獨特的能力。

In addition to the functionality that helps both teams organize, we're investing in all of the other things important to large enterprises, too, like making Asana accessible for all employees, improving our compliance capabilities, adding integrations for Data Loss Prevention and eDiscovery and scalability. We'll also be increasing the depth and breadth of the core Asana platform by expanding our IT partner ecosystem.

除了幫助兩個團隊組織起來的功能之外，我們還在對大型企業重要的所有其他方面進行投資，例如讓所有員工都可以訪問 Asana、提高我們的合規能力、添加數據丟失預防和電子發現的集成以及可擴展性。我們還將通過擴展我們的 IT 合作夥伴生態系統來增加核心 Asana 平台的深度和廣度。

I want to wrap up by saying that this virtually untapped market opportunity for work management and our differentiated ability to deliver value gives us increased confidence in investing further in the enterprise. We’re still in early innings and we are investing to win.

最後，我想說的是，這個幾乎未開發的工作管理市場機會以及我們提供價值的差異化能力使我們對進一步投資企業更有信心。我們仍處於早期階段，我們正在投資以贏得勝利。

And now I’ll turn it over to Anne.

現在我會把它交給安妮。

Thanks, Dustin. I want to join you in congratulating our teams for accelerating growth during a period of dramatic change in the world and in our markets. We achieved some amazing milestones this past year. Asana is now available in 13 major languages, meaning our product is now accessible to the majority of the world's population in their native language. We've opened new offices in Paris, Singapore and Chicago to better reach and serve our customers, growing our customer-facing teams around the world.

謝謝，達斯汀。我想和你們一起祝賀我們的團隊在世界和我們的市場發生巨大變化的時期加速增長。在過去的一年裡，我們取得了一些驚人的里程碑。 Asana 現在有 13 種主要語言版本，這意味著我們的產品現在可以以他們的母語為世界上大多數人使用。我們在巴黎、新加坡和芝加哥開設了新辦事處，以更好地接觸和服務我們的客戶，在全球範圍內發展我們面向客戶的團隊。

Our significant top-of-funnel investment paid off with new records in both web traffic and sign-ups. We hosted thousands of attendees from all over the globe at our Focus and Flow and Scale events, generating significant pipeline while increasing our ability to reach larger customers and build relationships with executives.

我們在渠道頂部的重大投資獲得了回報，在網絡流量和註冊方面都創下了新紀錄。我們在 Focus、Flow 和 Scale 活動中接待了來自全球各地的數千名與會者，產生了重要的渠道，同時提高了我們接觸更大客戶和與高管建立關係的能力。

The tremendous traction we made in some of our most strategic investments has proven that we not only have the right product, we also have the right focus and strategy. The number of customers spending $50,000 or more was up 125% in Q4. And as Dustin mentioned, a number of customers spending $100,000 or more was 340 in Q4. We've been closing 7-figure deals, and we are still early.

我們在一些最具戰略意義的投資中取得的巨大吸引力證明，我們不僅擁有正確的產品，而且擁有正確的重點和戰略。第四季度消費 50,000 美元或以上的客戶數量增加了 125%。正如達斯汀所說，第四季度花費 100,000 美元或更多的客戶數量為 340。我們已經完成了 7 位數的交易，而且還為時尚早。

We've accomplished so much and are still just getting started. Fiscal year '23, we'll see our largest top-of-funnel investment ever and a focus on solving our customers' most strategic cross-functional needs as we grow and scale the value we deliver them.

我們已經取得瞭如此多的成就，而且還只是剛剛開始。 '23 財年，我們將看到我們有史以來最大的漏斗頂部投資，並隨著我們的增長和擴大我們為客戶提供的價值而專注於解決客戶最具戰略意義的跨職能需求。

Let's talk about some of the customer wins in Q4. We've won big deals across all industries, including banking, media, retail, healthcare and telecom. This quarter, one of the largest banks in Canada consolidated on Asana to increase their operating agility, to improve cross-functional work across wealth management, marketing and sales, and to eliminate the time consuming back and forth of e-mails, messages and spreadsheets to coordinate work in their venture division.

讓我們談談第四季度的一些客戶勝利。我們贏得了所有行業的大筆交易，包括銀行、媒體、零售、醫療保健和電信。本季度，加拿大最大的銀行之一在 Asana 上進行了整合，以提高其運營敏捷性，改善財富管理、營銷和銷售方面的跨職能工作，並消除電子郵件、消息和電子表格的來回耗時協調他們風險部門的工作。

One of the largest global media and marketing conglomerates signed a multiyear contract for Asana's Enterprise Solution and added 1,000 seats. Their agencies around the world use Asana to manage their clients' media and marketing campaign, grow their businesses and gain market share.

全球最大的媒體和營銷集團之一為 Asana 的企業解決方案簽署了一份多年期合同，並增加了 1,000 個席位。他們在世界各地的代理機構使用 Asana 來管理客戶的媒體和營銷活動、發展業務並獲得市場份額。

Many of our expansions are also accelerating. One of our largest this quarter was with Morningstar, a global investment research company. They first began using Asana's Enterprise Solution to streamline global marketing campaigns and manage strategy and global accounts. After realizing quick efficiency gains in just 2 quarters, they more than tripled their seats to bring other departments throughout the business into Asana. It was the ability to scale, eliminate silos and orchestrate work across different lines of business that won this account.

我們的許多擴張也在加速。我們本季度最大的一筆交易是與全球投資研究公司晨星公司合作。他們首先開始使用 Asana 的企業解決方案來簡化全球營銷活動並管理戰略和全球客戶。在短短 2 個季度內實現了快速效率提升後，他們將席位增加了兩倍多，從而將整個企業的其他部門引入了 Asana。贏得此客戶的正是能夠跨不同業務線擴展、消除孤島和協調工作的能力。

Next, I'm sure many of you have binge-watched a show or 2 over these past 2 years. I definitely did. This quarter, one of the world's leading streaming services upgraded from our business to Enterprise Solution. Their studio and production divisions rely on Asana to help with real-time team support so they can hit their production deadlines and ambitious subscriber goals. With this upgrade, their corporate teams will now also be able to utilize Asana to manage their work.

接下來，我相信你們中的許多人在過去的 2 年裡都瘋狂地觀看了一兩個節目。我確實做到了。本季度，世界領先的流媒體服務之一從我們的業務升級為企業解決方案。他們的工作室和製作部門依靠 Asana 提供實時團隊支持，以便他們能夠按時完成製作並實現雄心勃勃的訂戶目標。通過這次升級，他們的公司團隊現在也可以利用 Asana 來管理他們的工作。

T-Mobile, the industry leader in 5G, is known for their unwavering obsession with offering the best possible service experience. To do this, teams need to be on the same page, which is why they chose to expand their use of Asana's enterprise solution last quarter. Now their emerging products and digital teams can collaborate cross-functionally in 1 platform to develop strategies and business plans for consumer markets, co-create digital products for emerging markets, and deliver digital technology programs for business and government.

T-Mobile 是 5G 行業的領導者，以其堅定不移地致力於提供最佳服務體驗而聞名。為此，團隊需要保持一致，這就是為什麼他們選擇在上個季度擴大對 Asana 企業解決方案的使用。現在，他們的新興產品和數字團隊可以在一個平台上進行跨職能協作，為消費者市場製定戰略和業務計劃，共同為新興市場創造數字產品，並為企業和政府提供數字技術計劃。

Another inspiring impact customer who upgraded to Asana's Enterprise Solution this quarter with Bombas, the basic apparel company with a mission to help those experiencing homelessness. My family has a few favorite Bombas style, including their Pride collection and Princess collection. At Bombas, they donate a product for every one sold and have donated more than 60 million items to more than 3,500 community organizations and shelters to date.

另一位鼓舞人心的影響客戶本季度與 Bombas 一起升級到 Asana 的企業解決方案，Bombas 是一家基本服裝公司，其使命是幫助那些無家可歸的人。我的家人有一些最喜歡的 Bombas 款式，包括他們的 Pride 系列和 Princess 系列。在 Bombas，他們每售出一件產品就捐贈一件產品，迄今已向 3,500 多個社區組織和庇護所捐贈了超過 6000 萬件物品。

A number of Bombas teams use Asana to manage internal projects and communicate requests, progress and updates within the platform. This allows for easy cross-functional collaboration and connection.

許多 Bombas 團隊使用 Asana 來管理內部項目並在平台內傳達請求、進度和更新。這允許輕鬆的跨職能協作和連接。

We also saw success with channel partners in some of our fastest-growing international geography. PC Home is now the leading integrated e-commerce service group in Taiwan, providing e-commerce, FinTech and web portal services. They chose Asana's business solution this quarter to manage product development. They were initially looking for a tool for their IT and engineering teams to manage their fast-paced product development cycle. But with the help of our local partner, Master Concept, they decided to also bring in their marketing, customer service and operations teams into Asana as well so everyone would have a system of record for the development process to help launch products faster.

在我們增長最快的一些國際地區，我們還看到了與渠道合作夥伴的成功。 PC Home現在是台灣領先的綜合電子商務服務集團，提供電子商務、金融科技和門戶網站服務。他們在本季度選擇了 Asana 的業務解決方案來管理產品開發。他們最初是在為其 IT 和工程團隊尋找一種工具來管理他們快節奏的產品開發週期。但在我們當地的合作夥伴 Master Concept 的幫助下，他們決定將營銷、客戶服務和運營團隊也引入 Asana，這樣每個人都會有一個開發過程記錄系統，以幫助更快地推出產品。

Not only are we adding big customers, but we're also helping customers serve their own customers faster. This quarter, we're launching a strategic partnership with one of our existing customers, a major global medical device company to bring a new HIPAA-compliant workflow solution to the health care industry.

我們不僅增加了大客戶，而且還幫助客戶更快地為自己的客戶服務。本季度，我們將與我們的一個現有客戶（一家主要的全球醫療設備公司）建立戰略合作夥伴關係，為醫療保健行業帶來符合 HIPAA 的新工作流程解決方案。

Instead of relying on the manual processes and disconnected systems across their vast network, they are using Asana to power a workflow that connects processes and teams to real-time updates to improve operational efficiency and customer care. With Asana, they seek to serve more customers, support them in growing their business and create consistent experiences for those receiving treatment. By solving this pain point for their global network of organizations, we have the opportunity to reach hundreds of thousands of offices worldwide over the life of this partnership.

他們不再依賴於龐大網絡中的手動流程和斷開連接的系統，而是使用 Asana 來支持將流程和團隊連接到實時更新的工作流程，以提高運營效率和客戶服務。通過 Asana，他們尋求服務更多客戶，支持他們發展業務並為接受治療的人創造一致的體驗。通過為他們的全球組織網絡解決這個痛點，我們有機會在這種夥伴關係的整個生命週期內接觸到全球數十萬個辦事處。

This partnership is just the beginning and one example of how the Asana platform can support coordination at scale across many industries and organization types from franchises to supply chains and much more. We're also excited to announce that to further support Asana's enterprise advancement, a broader HIPAA offering will soon expand to other customers in the health care industry later this year.

這種合作關係只是一個開始，也是 Asana 平台如何支持從特許經營到供應鍊等許多行業和組織類型的大規模協調的一個例子。我們還很高興地宣布，為了進一步支持 Asana 的企業發展，今年晚些時候將很快將更廣泛的 HIPAA 產品擴展到醫療保健行業的其他客戶。

As Dustin said, the major fiscal '22 wins we had with customers like Warner Music, Viacom CBS and the largest automotive manufacturer in the world give us increased confidence to invest further in the enterprise. In fiscal '23, this will include making our biggest investment increase ever in pipeline build to support lead generation, sales development reps, account-based marketing and customer engagement program. We will be focusing on our sales infrastructure, solution selling, customer success and everything that supports customer expansion, all major levers for adoption and expansion.

正如達斯汀所說，我們與華納音樂、維亞康姆 CBS 和世界上最大的汽車製造商等客戶在 22 財年取得的重大勝利讓我們更有信心進一步投資該企業。在 23 財年，這將包括我們在管道建設方面的最大投資增加，以支持潛在客戶生成、銷售開發代表、基於客戶的營銷和客戶參與計劃。我們將專注於我們的銷售基礎設施、解決方案銷售、客戶成功以及支持客戶擴展的所有方面，以及採用和擴展的所有主要槓桿。

Our global enterprise go-to-market sales organization, especially quota-carrying sales headcount, will grow faster than overall headcount. And we will be expanding our ecosystem of technology partners, channel partners and co-selling network. Another example of a successful partnership has been Vimeo. In fact, just yesterday, Asana and Vimeo were named a top 3 joint venture among Fast Company's annual list of the World's Most Innovative Companies.

我們的全球企業上市銷售組織，尤其是配額銷售人員的增長速度將超過總人數。我們將擴大我們的技術合作夥伴、渠道合作夥伴和聯合銷售網絡的生態系統。另一個成功合作的例子是 Vimeo。事實上，就在昨天，Asana 和 Vimeo 被 Fast Company 評為全球最具創新力公司年度榜單前三名的合資企業。

In conclusion, we are investing to win, especially in the enterprise. We're growing adoption and expansion with our product-led strategy, and we're going to market focused on customer success and adoption.

總之，我們投資是為了取勝，尤其是在企業方面。我們以產品為主導的戰略正在增加採用和擴展，我們將專注於客戶成功和採用的市場。

And with that, I'll pass it to Tim.

有了這個，我會把它傳遞給蒂姆。

Thank you, Anne. Q4 revenue growth represented continued momentum in the business. Revenues were $111.9 million, up 64% year-over-year. This puts us at an annualized quarterly run rate of $448 million. Revenue from customers spending $5,000 or more annualized grew 82% year-over-year. This cohort represented 69% of our revenues in Q4, up from 62% in the year ago quarter. We now have over 119,000 paying customers at the end of Q4, up 5,000 in the quarter. This represents a 28% year-over-year increase.

謝謝你，安妮。第四季度收入增長代表了業務的持續增長勢頭。收入為 1.119 億美元，同比增長 64%。這使我們的年化季度運行率為 4.48 億美元。每年花費 5,000 美元或更多的客戶收入同比增長 82%。這一群體占我們第四季度收入的 69%，高於去年同期的 62%。截至第四季度末，我們現在擁有超過 119,000 名付費客戶，比本季度增加了 5,000 名。這意味著同比增長 28%。

We have 15,437 customers spending $5,000 or more on an annualized basis, up 52% year-over-year. And growth in our larger customers is even stronger. We now have 894 customers spending $50,000 or more on an annualized basis, up 125% year-over-year. And as Dustin and Anne mentioned, we have 340 customers spending $100,000 or more on an annualized basis as of Q4.

我們有 15,437 名客戶每年花費 5,000 美元或更多，同比增長 52%。我們更大客戶的增長更加強勁。我們現在有 894 名客戶每年花費 50,000 美元或更多，同比增長 125%。正如達斯汀和安妮所說，截至第四季度，我們有 340 名客戶每年花費 100,000 美元或更多。

As a reminder, we define these customer cohorts based on annualized GAAP revenues in a given quarter. Our dollar-based net retention rate remained strong across every cohort. Overall dollar-based net retention rate was 120%. Among customers spending $5,000 or more, our dollar-based net retention rate was over 130% and among customers spending $50,000 or more, our dollar-based net retention rate was over 145%. As a reminder, our dollar-based net retention rate is a trailing 4-quarter average calculation.

提醒一下，我們根據給定季度的年化 GAAP 收入來定義這些客戶群。我們基於美元的淨保留率在每個隊列中都保持強勁。基於美元的總體淨保留率為 120%。在消費 5,000 美元或以上的客戶中，我們的美元淨保留率超過 130%，在消費 50,000 美元或以上的客戶中，我們的美元淨保留率超過 145%。提醒一下，我們基於美元的淨保留率是過去 4 個季度的平均計算。

Before turning 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. Gross margins came in at 90%, improved from 88.2% in the year ago quarter. Research and development was $37.7 million or 34% of revenue. We continue to invest heavily to fuel innovation on our proprietary technology, the Work Graph.

在轉向費用項目和盈利能力之前，我想指出，我將在餘下的發言中討論非公認會計原則的結果。毛利率為 90%，高於去年同期的 88.2%。研發為 3770 萬美元，佔收入的 34%。我們將繼續大力投資以推動我們專有技術 Work Graph 的創新。

Sales and marketing was $75.6 million or 68% of revenue, reflecting the investments in growth for both our self-serve and sales-led motion. For example, our customer-facing teams grew faster than our overall company headcount growth in Q4. G&A was $31.3 million or 28% of revenue. Operating loss was $43.9 million and operating loss margin was 39%. Net loss was $46.9 million, and our net loss per share was $0.25.

銷售和市場營銷為 7560 萬美元，佔收入的 68%，反映了我們對自助服務和銷售主導運動的增長投資。例如，我們面向客戶的團隊在第四季度的增長速度超過了我們公司整體員工人數的增長速度。 G&A 為 3130 萬美元，佔收入的 28%。營業虧損為 4390 萬美元，營業虧損率為 39%。淨虧損為 4690 萬美元，每股淨虧損為 0.25 美元。

Now on to the full fiscal year highlights. Fiscal year revenue growth accelerated to 67% year-over-year to $378.4 million. About 42% of our revenue came from outside the United States. Both U.S. and international revenue growth for the year was 67% year-over-year. We added over 26,000 net new paying customers during the year. We also added over 5,000 customers spending $5,000 or more on an annualized basis during the year, and we added almost 500 customers spending $50,000 or more on an annualized basis during the year.

現在進入整個財政年度的亮點。財年收入同比增長 67%，達到 3.784 億美元。我們大約 42% 的收入來自美國以外的地區。今年美國和國際收入的同比增長均為 67%。我們在這一年增加了超過 26,000 名淨新付費客戶。我們還增加了 5,000 多名客戶在這一年中的年化支出為 5,000 美元或更多，我們增加了近 500 個客戶在這一年中的年化支出為 50,000 美元或更多。

Importantly, our unit economics remained strong throughout the year. Our net expansion rate across all segments increased. Sales and marketing payback was less than 15 months at the end of fiscal year '22. Please refer to our SEC filings for the calculation. With strong gross margins and compelling unit economics, we feel confident in our ability to continue to invest further in durable long-term growth.

重要的是，我們的單位經濟全年保持強勁。我們在所有領域的淨擴張率都有所提高。在 22 財年末，銷售和營銷回報不到 15 個月。有關計算，請參閱我們的 SEC 文件。憑藉強勁的毛利率和引人注目的單位經濟效益，我們對繼續進一步投資於持久的長期增長的能力充滿信心。

Moving on to the balance sheet and cash flow. Cash and marketable securities, including long-term investments at the end of Q4, were approximately $315 million. Our remaining performance obligations, or RPO, was $218.1 million, up 78% from 1 year ago. 85% of our RPO will be recognized over the next 12 months, which grew 70% from the year ago quarter.

轉到資產負債表和現金流。現金和有價證券，包括第四季度末的長期投資，約為 3.15 億美元。我們剩餘的履約義務或 RPO 為 2.181 億美元，比一年前增長了 78%。我們 85% 的 RPO 將在未來 12 個月內得到確認，比去年同期增長 70%。

Our free cash flow is defined as net cash used in operating activities less cash used and property and equipment and capitalized software costs, excluding non-recurring items such as the build-out of our San Francisco office. In Q4, free cash flow was negative $41.2 million, reflecting our investment in growth in rapid onboarding of new headcount during the quarter.

我們的自由現金流定義為經營活動中使用的淨現金減去使用的現金、財產和設備以及資本化的軟件成本，不包括非經常性項目，例如擴建舊金山辦事處。第四季度，自由現金流為負 4,120 萬美元，反映了我們在本季度對新員工快速入職增長的投資。

We also ended the fiscal year with over 1,600 employees. We are very proud of the business momentum, especially our success with very large-scale deployments at great referenceable accounts and the velocity innovation of this year.

我們還在本財年結束時擁有 1,600 多名員工。我們對業務發展勢頭感到非常自豪，尤其是我們在大量可參考賬戶上的大規模部署以及今年的速度創新方面取得的成功。

Now moving on to our fiscal year 2023 outlook. For Q1 fiscal year 2023, we expect revenues of $114.5 million to $115.5 million, representing growth rates of 49% to 51% year-over-year. We expect non-GAAP loss from operations of $68 million to $66 million, and we expect net loss per share of $0.36 to $0.35, assuming basic and diluted weighted average shares outstanding of approximately 189 million. For the full fiscal year 2023, we expect revenues to be $527 million to $531 million representing a growth rate of 39% to 40% for the full year.

現在繼續我們的 2023 財年展望。對於 2023 財年第一季度，我們預計收入為 1.145 億美元至 1.155 億美元，同比增長 49% 至 51%。我們預計非公認會計原則的運營虧損為 6800 萬美元至 6600 萬美元，我們預計每股淨虧損為 0.36 美元至 0.35 美元，假設基本和稀釋加權平均流通股約為 1.89 億股。對於整個 2023 財年，我們預計收入為 5.27 億美元至 5.31 億美元，全年增長率為 39% 至 40%。

In terms of the shape of the quarterly progression, we expect to see a more traditional enterprise sales seasonality with our sales capacity ramping towards the second half of the year as our mix continues to evolve towards a sales-led motion.

就季度進展的形式而言，我們預計隨著我們的組合繼續向以銷售為主導的運動發展，我們的銷售能力將在下半年增加，我們預計將看到更傳統的企業銷售季節性。

Given the large untapped opportunity ahead and along with the success we've seen in fiscal year '22, with the Work Graph scaling to 25,000 and 50,000 seats and beyond, we are increasing our investments to expand the functionality required by large and complex enterprises and further investments in our go-to-market motion in the form of increasing our sales capacity and customer-facing teams to support adoption and expansion within many of our larger enterprise customers.

鑑於未來巨大的未開發機會以及我們在 22 財年看到的成功，隨著工作圖擴展到 25,000 和 50,000 個及更多席位，我們正在增加投資以擴展大型和復雜企業所需的功能，以及以提高我們的銷售能力和麵向客戶的團隊的形式進一步投資於我們的上市行動，以支持我們許多大型企業客戶的採用和擴展。

We expect full year non-GAAP operating loss margins to be in the mid-40 percentage range for fiscal year 2023. We believe the investments we are making in fiscal year '23 reflect our ambition to be the category leader and our drive towards durable long-term growth.

我們預計 2023 財年全年非美國通用會計準則營業虧損率將在 40% 的中間範圍內。我們相信，我們在 23 財年所做的投資反映了我們成為行業領導者的雄心以及我們對持久耐用的推動長期增長。

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

有了這個，我會把它轉回給接線員提問。

(Operator Instructions) The first question comes from Alex Zukin with Wolfe Research.

（操作員說明）第一個問題來自 Wolfe Research 的 Alex Zukin。

Look, I think the -- congratulations on the quarter. Obviously, very strong result and a great guide. I would say the question that I'm going to get most of all tomorrow is if we look at the incremental operating margins of the business and the investment profile that you're thinking about as we look at next year, unpack for us, maybe both Dustin and Tim, like what are -- where are the primary areas of investment and focus? And how are we going to see the ROI on those investments? Is it going to be more enterprise lands, faster expands because you seem to be doing really well, landing the enterprise customers today. So what don't -- what isn't there yet that you want to make sure and take this year to invest in to get to? And how should investors think about that?

看，我認為 - 祝賀本季度。顯然，非常強大的結果和一個很好的指導。我會說，我明天要解決的最重要的問題是，如果我們看看業務的增量營業利潤率和你在明年考慮的投資概況，為我們打開包裝，也許達斯汀和蒂姆都一樣——主要的投資領域和重點在哪裡？我們將如何看待這些投資的投資回報率？會不會是更多的企業登陸，更快的擴張，因為你似乎做得很好，今天登陸了企業客戶。那麼什麼不 - 還沒有什麼是你想要確定並在今年投資的？投資者應該如何看待這一點？

Yes, that's a great question. I think you framed it really well. So I think the big picture is the category is maturing really quickly, but our view is it's still really early days. And vast majority of teams out there are still on the status quo of spreadsheets and e-mail. And so we're excited to continue investing to build out our differentiated vision and reach more of the market. So I'll go through -- well, there's really 2 big areas we're making the largest investments. I'll talk about the R&D side first and then maybe hand off to Anne actually to sort of double-click on go-to-market.

是的，這是一個很好的問題。我認為你構圖得非常好。所以我認為大局是這個類別正在迅速成熟，但我們認為它仍然處於早期階段。絕大多數團隊仍處於電子表格和電子郵件的現狀。因此，我們很高興繼續投資以建立我們的差異化願景並進入更多市場。所以我會介紹一下——嗯，我們確實在兩個大領域進行了最大的投資。我會先談談研發方面，然後可能會交給 Anne 來雙擊上市。

But in R&D, we have a really strong product cycle ahead so we're going to continue to focus heavily on our Enterprise Work Graph. So improving on and expanding functionality required by the largest and the most complex organizations. As you said, we're already quite successful with them, but there's a lot of cumulative needs across all the different organizations out there and more value that we can deliver to help them be even more successful.

但在研發方面，我們有一個非常強大的產品週期，因此我們將繼續重點關注我們的企業工作圖。因此，改進和擴展最大和最複雜的組織所需的功能。正如您所說，我們已經在他們方面取得了相當大的成功，但是所有不同組織都有很多累積的需求，我們可以提供更多價值來幫助他們取得更大的成功。

So we already started off the year just a couple of weeks ago with our Asana Flow launch. And I mentioned in a lot of calls last year that, that was one of the things I was most excited we were working towards building throughout the year, but there's a lot more to do. So a big part of our road map for fiscal year '23 is dedicated to adding more capabilities to the Workflow Builder, further developing the Template Library and adding more partners to integrate with the workflows.

因此，就在幾週前，我們已經推出了 Asana Flow 以開始新的一年。我在去年的很多電話中提到，這是我最興奮的事情之一，我們全年都在努力建設，但還有很多工作要做。因此，我們 23 財年路線圖的很大一部分致力於為 Workflow Builder 添加更多功能，進一步開發模板庫並添加更多合作夥伴以與工作流集成。

And then in Q2, we're launching our Employee Impact Suite. So that's going to help everyone on the team get clarity of purpose, find focus and flow to do their work and really feel recognized and valued for their contributions.

然後在第二季度，我們將推出我們的員工影響力套件。因此，這將幫助團隊中的每個人明確目標，找到專注和流程來完成他們的工作，並真正感受到他們的貢獻被認可和重視。

And then throughout the year, we're making more investments in creating high-level clarity. This is part of the way that Asana is most differentiated from other work management solutions. That really means building on the adoption and capabilities of features like reporting, goals and portfolios, and the ability to better track the time spent on the work done in support of those goals.

然後在整個一年中，我們都在進行更多的投資來創造高層次的清晰度。這是 Asana 與其他工作管理解決方案最不同的部分方式。這實際上意味著建立在報告、目標和投資組合等功能的採用和功能上，以及更好地跟踪為支持這些目標而完成的工作所花費的時間的能力。

And in addition to help -- the functionality that helps teams organized, we're also investing in all the other things, important for large enterprises, too such things like making Asana accessible to all employees, improving our compliance capabilities and adding integrations for data loss prevention and eDiscovery and scalability to really be able to serve these very large deployments with tens of thousands of seats -- tens of thousands of people working together in one instance.

除了幫助——幫助團隊組織的功能之外，我們還在投資所有其他對大型企業很重要的事情，比如讓所有員工都可以訪問 Asana、提高我們的合規能力和添加數據集成損失預防、電子發現和可擴展性，真正能夠為這些具有數万個座位的大型部署提供服務——數万人在一個實例中一起工作。

And then finally, we'll also be increasing the depth and breadth of the core Asana platform by expanding our IT partner ecosystem. So it really ties that all together from the product perspective is an emphasis on helping large organizations get clarity around their Work graph and simplify workflows.

最後，我們還將通過擴展我們的 IT 合作夥伴生態系統來增加核心 Asana 平台的深度和廣度。因此，從產品的角度來看，它確實將所有這些聯繫在一起，重點是幫助大型組織清楚地了解他們的工作圖並簡化工作流程。

Yes. And then on the go-to-market side, we're excited to put more resources towards areas where we're already seeing strong performance and that enable us to reach and serve our customers faster. So starting with our top of funnel, we're continuing to see strong performance in all regions. We're also making big investments in pipeline building, including scaling our global sales development teams and increasing account-based marketing and customer engagement programs.

是的。然後在進入市場方面，我們很高興將更多資源投入到我們已經看到強勁表現的領域，這使我們能夠更快地接觸和服務我們的客戶。因此，從我們的漏斗頂部開始，我們將繼續看到所有地區的強勁表現。我們還在管道建設方面進行了大量投資，包括擴大我們的全球銷售開發團隊以及增加基於客戶的營銷和客戶參與計劃。

From a hiring standpoint, our quota-carrying sales headcount will grow faster than overall headcount. And there, what we see is when our team is able to partner early with our larger customers, we're able to serve more of their employees and make a faster impact on their most strategic cross-team initiative.

從招聘的角度來看，我們的配額銷售人數增長速度將超過總人數。在那裡，我們看到的是，當我們的團隊能夠儘早與我們的大客戶合作時，我們能夠為他們的更多員工提供服務，並更快地影響他們最具戰略意義的跨團隊計劃。

We're also investing a lot in customer success in post sales programs because in our larger customers, we're seeing a step-function change in adoption and expansion. And this is because we're not only helping their teams adopt the Asana platform, we're also helping the organization codify and implement their best practices for cross-team work. So this is the work many of our biggest customers are asking us to help them with, given our 10-plus years of experience partnering with some of the world's most innovative teams.

我們還在售後計劃中為客戶成功進行了大量投資，因為在我們的大客戶中，我們看到了採用和擴展方面的階梯式功能變化。這是因為我們不僅在幫助他們的團隊採用 Asana 平台，而且還在幫助組織編纂和實施跨團隊工作的最佳實踐。因此，鑑於我們與世界上一些最具創新性的團隊合作的 10 多年經驗，我們的許多最大客戶都要求我們幫助他們完成這項工作。

So just this week, one of our Fortune 10 customers was seeking our advice on best practices for updating how their organization sets and manages goals across their enterprise. And we're just seeing that demand in a lot of our larger customers. And so we're excited to invest in places where we're already seeing results.

因此，就在本週，我們的一位財富 10 強客戶正在向我們尋求有關更新其組織如何設置和管理整個企業目標的最佳實踐的建議。我們只是在我們的許多大客戶中看到了這種需求。因此，我們很高興能在我們已經看到成果的地方進行投資。

Got it. Perfect. And then maybe just as a follow-up, with a good proportion of the revenue coming from international or outside of the U.S., any thoughts or incorporation into the guidance around headwinds, if there are any out of Europe, Western or Eastern? And just in general, how do we think about the conservatism in the guide with respect to that?

知道了。完美的。然後可能只是作為後續行動，很大一部分收入來自國際或美國以外的地區，是否有任何想法或納入有關逆風的指導，如果有任何來自歐洲、西方或東方的？總的來說，我們如何看待指南中的保守主義？

Alex, this is Tim. It's probably too early to fully assess the impact of the Ukraine crisis and the broader implications right now. Now revenues from customer based in Ukraine and Russia are not a material part of our business. But again, it's really just difficult to predict both the short- and long-term implications sitting here today. And I would say, like many of you on the call and other companies, I mean, we're monitoring the situation closely.

亞歷克斯，這是蒂姆。現在全面評估烏克蘭危機的影響和更廣泛的影響可能還為時過早。現在來自烏克蘭和俄羅斯客戶的收入不是我們業務的重要組成部分。但同樣，很難預測今天坐在這裡的短期和長期影響。我想說，就像你們中的許多人和其他公司一樣，我的意思是，我們正在密切關注局勢。

The impact of the euro falling, increased gas prices, inflation, supply chain issues and how companies and customers are thinking about investments. I mean it's certainly concerning. We're monitoring it, but it's not factored into our guidance at this point, and we're just going to monitor this like a hawk.

歐元貶值、天然氣價格上漲、通貨膨脹、供應鏈問題以及公司和客戶如何考慮投資的影響。我的意思是這肯定是令人擔憂的。我們正在對其進行監控，但目前尚未將其納入我們的指導中，我們將像鷹派一樣對其進行監控。

We have a question submitted by e-mail. Please proceed.

我們有一個通過電子郵件提交的問題。請繼續。

This is Catherine. I'm going to read the question from Rob Oliver at Baird. Strong balance this quarter. You guys rolled out a ton of enterprise-specific functionality at your scale event in late '21. I wanted to ask if those announcements drove larger deployments in the quarter and how they have impacted the enterprise expansion pipeline.

這是凱瑟琳。我將閱讀 Baird 的 Rob Oliver 提出的問題。本季度強勁平衡。你們在 21 年末的規模活動中推出了大量的企業特定功能。我想問一下這些公告是否在本季度推動了更大規模的部署，以及它們如何影響企業擴展管道。

Yes. Great. I'll go ahead and answer that. So we're seeing more customers choosing enterprise, including some of our largest customers who upgraded in Q4 including one of the largest global sports apparel manufacturers a Fortune 10 company and a global streaming service provider. So the revenue combined from our business and enterprise tiers represents more than 60% of our revenue in fiscal year '22. And the revenue from those 2 tiers grew over 100% year-over-year in fiscal year '22. So strong demand for our business and enterprise tiers.

是的。偉大的。我會繼續回答這個問題。因此，我們看到越來越多的客戶選擇企業，包括我們在第四季度升級的一些最大客戶，包括全球最大的運動服裝製造商之一、財富 10 強公司和全球流媒體服務提供商。因此，我們業務和企業層的總收入占我們 22 財年收入的 60% 以上。在 22 財年，這兩個層次的收入同比增長超過 100%。對我們的業務和企業層的需求如此強烈。

The next question comes from Steve Enders with KeyBanc.

下一個問題來自 KeyBanc 的 Steve Enders。

I think you mentioned in the prepared remarks that you saw record web traffic and new sign-ups coming onto the platform. I guess, wondering how are you seeing paid conversion at this point? And how should we kind of think about the new customers potentially coming in going forward here?

我想你在準備好的評論中提到你看到了創紀錄的網絡流量和新的註冊進入平台。我想，想知道您現在如何看待付費轉化？以及我們應該如何考慮潛在的新客戶？

Yes. So we -- the way we think about our top-of-funnel investments is really based on payback and the quality of the customers and lifetime value. So we see -- and given our strong product-led growth motion, many of our enterprise customers actually come in through that funnel and then our sales teams identify them and work with them to expand. So we invest based on seeing those results.

是的。因此，我們 - 我們對漏斗頂部投資的思考方式實際上是基於回報、客戶質量和生命週期價值。所以我們看到——鑑於我們以產品為主導的強大增長動力，我們的許多企業客戶實際上是通過這個渠道進入的，然後我們的銷售團隊會識別出他們並與他們合作進行擴張。因此，我們基於看到這些結果進行投資。

Okay. That's helpful. And then on Reporting and Goals, I think you mentioned in the remarks as well as seeing good adoption there. But I guess -- how are those driving customers up to higher price tiers at this point?

好的。這很有幫助。然後關於報告和目標，我認為您在評論中提到了並且在那裡看到了良好的採用。但我猜——此時那些將客戶推向更高價格層的人是如何做到的？

Well, generally, I think the larger the customer, the more value they're going to get out of trying to achieve clarity at what we call the top of the pyramid of clarity. So thinking about larger portfolios of work or strategic initiatives, and Goals is literally about modeling your highest level objectives and mapping them to the work and Reporting is about getting that high-level clarity that's most useful to the senior team leads or executives. And so a lot of that functionality is just literally part of our business tier SKU. And so it will be part of an upgrade conversation. But I think sort of more qualitatively, it's part of what is exciting in any sort of sales cycle conversation when we're demoing the product and helping explain to potential customers how Asana is differentiated from competition.

嗯，一般來說，我認為客戶越大，他們在我們所謂的清晰度金字塔頂端嘗試實現清晰度的價值就越大。因此，考慮更大的工作組合或戰略計劃，目標實際上是對您的最高級別目標進行建模並將其映射到工作中，而報告是關於獲得對高級團隊領導或高管最有用的高層次清晰度。因此，很多功能只是我們業務層 SKU 的一部分。因此，它將成為升級對話的一部分。但我認為從質量上來說，這是任何形式的銷售週期對話中令人興奮的部分，當我們演示產品並幫助向潛在客戶解釋 Asana 如何與競爭對手區分開來時。

And so one thing I'll also add to that -- sorry, I was just going to say something to add on to that is it's also -- those features are also helping us drive wall-to-wall in our upper mid-market customers. And so one of the fastest-growing community platforms -- it's 1,000 seats and they're going to double or in size this year as a company or more. And every employee gets an instance of Asana, and it's just how they do work. So those are leading not only to upgrades in terms of the tiers but adoption across an entire company.

所以我還要補充一件事——對不起，我只是想說點補充一下——這些功能也幫助我們在中高端市場實現全面發展顧客。因此，這是增長最快的社區平台之一——它有 1,000 個座位，今年作為一家公司或更多，它們的規模將翻一番或擴大。每個員工都會獲得一個 Asana 實例，這就是他們的工作方式。因此，這些不僅會導致層級的升級，還會導致整個公司的採用。

Just a quick follow-up on that last comment you had about wall-to-wall adoption. I guess, how prevalent is that becoming at this point? And how should we kind of think about the increasing mix of those conversations versus maybe a year ago?

只是對您關於全面採用的最後評論的快速跟進。我想，在這一點上，這種情況有多普遍？與一年前相比，我們應該如何考慮這些對話的不斷增加？

Yes. We are seeing that much more prevalent, especially in our upper mid-market customers, which really we see as these high-growth companies are the future enterprise customers. And so with the functionality that we just talked about and the investments in workflow and the investments in security and scalability, we are seeing many more conversations about wall-to-wall and companies a way that all their employees do work together.

是的。我們看到這種情況更加普遍，尤其是在我們的中高端市場客戶中，我們認為這些高增長公司是未來的企業客戶。因此，通過我們剛剛討論的功能以及對工作流程的投資以及對安全性和可擴展性的投資，我們看到了更多關於牆到牆和公司的所有員工一起工作的方式的對話。

And this is Dustin. One thing I always like to add color on this, too, is even in the larger enterprise customers, what we often see is a division or a business unit is using Asana wall-to-wall. So using it cross-functionally, this is often a subsidiary with its own brand inside a larger conglomerate maybe came in through an acquisition. And so yes, the mid-markets where we see it most literally. But then if you look a little closer to enterprise customers, they also often look like that.

這是達斯汀。我也一直喜歡為此添加顏色的一件事是，即使在較大的企業客戶中，我們經常看到的是一個部門或業務部門正在使用 Asana 牆到牆。因此，跨職能使用它，這通常是在更大的企業集團內擁有自己品牌的子公司，可能通過收購進入。所以，是的，我們最真實地看到它的中端市場。但是，如果您更接近企業客戶，他們也經常看起來像這樣。

And I'd also just tie this back to the prior question about web traffic because it can be a little deceiving to look at that just as a funnel into new logos showing up new customers because it's often actually generating sort of new lands for us inside a large enterprise. And so that's also part of how we see the ROI of that -- of those investments.

我也想把它與之前關於網絡流量的問題聯繫起來，因為把它看作是新標識的漏斗會顯示新客戶，因為它通常會在內部為我們創造新的土地。一家大型企業。這也是我們如何看待這些投資的投資回報率的一部分。

The next question comes from Mark Murphy with JPMorgan.

下一個問題來自摩根大通的 Mark Murphy。

Tim, you commented that you expect more traditional enterprise sales seasonality toward the second half of the year. And I was wondering, when you say more, do you mean more than other companies? Or do you mean more than you saw last year? I'm just trying to understand if you mean it's going to be a little more back-end loaded in terms of bookings patterns this year.

蒂姆，您評論說您預計下半年會有更多的傳統企業銷售季節性。我想知道，當您說得更多時，您的意思是否比其他公司更多？或者你的意思比你去年看到的更多？我只是想了解您是否意味著今年的預訂模式會增加後端負載。

Yes. What I meant, Mark, was more than what we historically saw at Asana, primarily because of all the incremental sales capacity. We ended up at the end of the quarter in Q4 and the new adds in terms of the new capacity that we're building in the first half as well as building the infrastructure to support those salespeople. So you can kind of compare it relative to how we -- where our investments were for our sales-led motion last year to where it's going on a go-forward basis.

是的。馬克，我的意思比我們在 Asana 歷史上看到的要多，主要是因為所有增量銷售能力。我們在第四季度結束時結束了我們在上半年建設的新產能以及建設支持這些銷售人員的基礎設施方面的新增加。因此，您可以將其與我們的方式進行比較 - 我們去年的銷售主導動議的投資與前進的基礎。

Okay. Understood. And Dustin, how is the usage and the actual engagement of the Asana product trending when you see employees begin to return to the office? For instance, I don't know what the typical usage looks like, but say, if someone is using the app for 20 minutes per day when they're remote, are you able to track how does that change at all when they return to the office?

好的。明白了。 Dustin，當您看到員工開始返回辦公室時，Asana 產品的使用和實際參與趨勢如何？例如，我不知道典型的用法是什麼樣的，但是如果有人在遠程時每天使用該應用程序 20 分鐘，您是否能夠跟踪他們返回時的變化情況？辦公室？

I haven't explicitly looked at session time, but I've seen some of the just frequency metrics like how often people log in and those look totally unchanged. I'm not sure how acutely you'd be able to see something like that though since people are returning office on different time lines around the world. But even aside from that, I wouldn't expect to see a change because work management was something that was a rising category even before remote work hits.

我沒有明確查看會話時間，但我已經看到了一些頻率指標，例如人們登錄的頻率，而這些指標看起來完全沒有變化。我不確定你能看到這樣的事情有多敏銳，因為人們在世界各地的不同時間線返回辦公室。但即使除此之外，我也不希望看到變化，因為工作管理甚至在遠程工作流行之前就已經是一個上升的類別。

And we really see Asana as an essential platform to use, whether you're working in a distributed way or from an office. And even when you're working from an office, you're often also working in a distributed way because a lot of our customers work across many offices. Even before the pandemic, Asana had, I think, 13 locations all over the world. And so even though in each of those locations, we're working in an office, we're still having to collaborate in a distributed way. And even within one building, you're working across floors or working across one large floor plates. It's still very useful to have a shared source of truth and a database like Asana.

我們真的將 Asana 視為一個必不可少的使用平台，無論您是以分佈式方式還是在辦公室工作。即使您在辦公室工作，您也經常以分佈式方式工作，因為我們的許多客戶在許多辦公室工作。我認為，甚至在大流行之前，Asana 在全球就有 13 個地點。因此，即使在每個地點，我們都在辦公室工作，我們仍然必須以分佈式方式進行協作。即使在一棟建築內，您也可以跨樓層工作或跨一個大地板工作。擁有共享的事實來源和像 Asana 這樣的數據庫仍然非常有用。

The next question comes from George Iwanyc with Oppenheimer.

下一個問題來自 George Iwanyc 和 Oppenheimer。

Dustin, maybe you could provide some more color on Flow and Workflow Builder. With the customers that have already launched, I know it's early, but have you noticed anything different in the way that they're using Asana?

Dustin，也許您可以在 Flow 和 Workflow Builder 上提供更多顏色。對於已經推出的客戶，我知道現在還為時過早，但是您是否注意到他們使用 Asana 的方式有什麼不同？

Yes, it's still a little too early for that. Hopefully at the next earnings call, we can bring some great anecdotes. I did -- in the prepared remarks, I mentioned that there have been over 200,000 individual people who have tried the Workflow Builder and about 60,000 rules that they've created with it. So that's a really great start. We've seen a lot of excitement from customers who want to learn more. So there's been a ton of -- thousands of people signing up for our webinars to learn about it and reaching out to their customer success reps and sales reps.

是的，現在還為時過早。希望在下一次財報電話會議上，我們可以帶來一些精彩的軼事。我做了——在準備好的評論中，我提到已經有超過 200,000 個人嘗試過 Workflow Builder 以及他們使用它創建的大約 60,000 條規則。所以這是一個非常好的開始。我們從想要了解更多信息的客戶那裡看到了很多興奮。因此，有成千上萬的人報名參加我們的網絡研討會以了解它並聯繫他們的客戶成功代表和銷售代表。

And there's clearly a lot of excitement around it. And the next few months will be about helping users really get the most value. Internally, I can tell you that we've started adopting it in earnest and have been able to use it to really streamline our most complex workflows that involve multiple groups around the company that need to have shared context, especially around things like product launches, where they're just all these -- many different constituents within the company, and we want to make sure that we have really high fidelity processes that always execute correctly to get all of them in the loop at the right time.

顯然，它周圍有很多令人興奮的地方。接下來的幾個月將是幫助用戶真正獲得最大價值。在內部，我可以告訴您，我們已經開始認真採用它，並且已經能夠使用它來真正簡化我們最複雜的工作流程，這些工作流程涉及公司周圍需要共享上下文的多個團隊，尤其是在產品發布等事情上，它們就是所有這些——公司內有許多不同的組成部分，我們希望確保我們擁有真正高保真度的流程，這些流程總是正確執行，以便在正確的時間讓所有這些都進入循環。

All right. And then maybe in the context of the new capabilities that you're adding and the wall-to-wall expansion. Can you give us a bit of an update on the competitive environment? Or are you seeing any displacements going on? Or are you seeing any price changing?

好的。然後可能是在您添加的新功能和牆到牆擴展的背景下。您能給我們介紹一下競爭環境的最新情況嗎？或者您是否看到發生任何位移？或者您是否看到任何價格變化？

Yes, I'll take that one. We're not really seeing a material change in competition, but rather an overall increase in awareness of and interest in work management, so I think what we're seeing also is like our dedicated focus on innovating specifically in work management, the caliber of our customers and our ability to deliver and measure value quickly is what's kind of contributing to us being able to attract new customers, win those customers and then expand with the ones that we have.

是的，我要那個。我們並沒有真正看到競爭的實質性變化，而是對工作管理的認識和興趣的整體提高，所以我認為我們所看到的也像我們專注於工作管理方面的創新，我們的客戶以及我們快速交付和衡量價值的能力有助於我們吸引新客戶，贏得這些客戶，然後擴大我們現有的客戶。

The next question comes from Brent Bracelin with Piper Sandler.

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

My question here is really around just an evolvement of the trends here on work management, which historically has been a departmental land, encouraging to see more wall-to-wall. You guys are talking about more cross-functional being a driver here. Is the industry shifting here where you're seeing a bit of a tipping point towards wanting more of a cross-functional tool than we historically have seen? Or are those expansions happening faster? Any color around some of the wall-to-wall activity you're seeing? And is the land profile changing here?

我的問題實際上只是圍繞工作管理趨勢的演變，這在歷史上一直是部門的土地，鼓勵看到更多的牆到牆。你們在這裡談論的是更多跨職能的司機。行業是否在這裡發生了轉變，您是否看到了一個轉折點，需要比我們歷史上看到的更多的跨功能工具？還是這些擴展發生得更快？您看到的一些牆到牆活動周圍有什麼顏色嗎？這裡的土地概況有變化嗎？

I think that it's always been more typical for Asana to land cross-functionally and certainly expand cross-functionally. So I think since the beginning of the company, we talked about the most common way we enter is through a marketing team, and then they're just immediately working with product and sales and legal on cross-functional workflows. I think it's accelerated over time as we've built out more capabilities that service that exact need and have established ourselves as differentiated and being able to support cross-team work. .

我認為對於 Asana 而言，跨職能登陸並肯定跨職能擴展一直是更典型的做法。所以我認為，自從公司成立以來，我們談論的最常見的進入方式是通過營銷團隊，然後他們立即與產品、銷售和法律部門合作開展跨職能工作流程。我認為隨著時間的推移，它會加速，因為我們已經構建了更多服務於確切需要的功能，並且已經確立了自己的差異化並能夠支持跨團隊工作。 .

We're also just seeing more awareness of work management. And so as we move to larger deals, the topic is moving up higher in the org chart, the strategic chain, so we're talking to more CIOs and C-level executives who naturally have a cross-functional mindset to how they're going to deploy it. So I think of it -- yes, as a long-term trend, that is accelerating some.

我們也只是看到對工作管理的更多認識。所以當我們轉向更大的交易時，這個話題在組織結構圖和戰略鏈中上升，所以我們正在與更多的 CIO 和 C 級高管交談，他們自然對他們的工作方式有跨職能的心態將部署它。所以我認為——是的，作為一個長期趨勢，這正在加速。

Great. So it sounds like the lands are similar, the expand seem to be accelerating. Helpful color there. Tim, my last question for you is just really around the aggressive investment plans for this year. It looks like OpEx growth will outpace revenue growth based on the guide. As you think just about the philosophy of operating leverage, is there a pull-forward of investment this year with the intent to drive maybe more leverage next year? Just trying to think through at what point would you start to will be willing to show a little bit more leverage in the business model?

偉大的。所以聽起來土地是相似的，擴張似乎在加速。那裡有用的顏色。蒂姆，我給你的最後一個問題是關於今年激進的投資計劃。根據該指南，OpEx 的增長似乎將超過收入的增長。當您只考慮經營槓桿的理念時，今年是否會進行投資，以期在明年推動更多的槓桿？只是想一想你會在什麼時候開始願意在商業模式中表現出更多的影響力？

No, it's a great question. I think that's right, Brent, that you would expect to see more leverage in the following year. One of the things -- I'm not sure we mentioned on the call was we did -- I think we mentioned this, we accelerated growth, and we actually grew faster this year than we grew last year. And then when we look at the unit economics and our gross margins, gross margins being north of about 90% and that our unit economics, both on, on payback and the unit economics on the larger deployments like the $50,000 or the $100,000, their net expansion rates being very healthy gives us a lot of confidence in our ability to continue to invest both on the product side as well as on the sales and marketing side to enable and unlock many of those customers.

不，這是一個很好的問題。我認為這是對的，布倫特，你預計明年會看到更多的槓桿作用。其中一件事——我不確定我們在電話會議上提到的是我們做了——我認為我們提到了這一點，我們加速了增長，而且我們今年的增長速度實際上比去年的增長速度要快。然後，當我們查看單位經濟效益和毛利率時，毛利率在 90% 以上，而我們的單位經濟效益，無論是在投資回報上，還是在更大的部署（如 50,000 美元或 100,000 美元）上的單位經濟效益，他們的淨非常健康的擴張率讓我們對我們有能力繼續在產品方面以及銷售和營銷方面進行投資以支持和解鎖許多客戶充滿信心。

So I think what you see is the model that we've shared maybe about 1.5 years ago at the -- at our direct listing, how we think about the growth phase and a longer-term model. Those haven't changed and how we define the growth phases. As long as we're growing at a healthy clip, that's kind of the sweet spot of what we're looking for, and that really hasn't changed.

所以我認為你看到的是我們可能在大約 1.5 年前在我們直接上市時分享的模型，我們如何看待增長階段和長期模型。這些都沒有改變，我們如何定義增長階段。只要我們以健康的方式成長，這就是我們正在尋找的最佳點，而且這真的沒有改變。

And 2 additional points I want to make there. So in addition to revenue overall accelerating, when we look at our largest customers, so revenue from customers spending more than $5,000 annually, that actually grew 90% in fiscal year '22. So that's growing even faster than revenue overall. And a lot of the headcount that we're adding conceptually really needs to keep pace with that part of the growth because a different motion to support those larger customers.

還有兩點我想在那裡提出。因此，除了收入整體加速之外，當我們查看我們最大的客戶時，每年支出超過 5,000 美元的客戶的收入實際上在 22 財年增長了 90%。因此，它的增長速度甚至超過了整體收入的增長速度。我們在概念上增加的許多員工人數確實需要跟上這部分增長的步伐，因為支持這些大客戶的不同舉措。

And then additionally, on the sort of marketing side, we have really great analytics on the specific channels and markets that we're investing into to acquire new customers or acquire additional seats and existing customers. And that gives us a lot of confidence that we can further invest into those and expect to get the return. Not necessarily immediately, but on looking out over the longer payback period, we have really high confidence. So it's not like we're just sort of throwing money at billboards and Super Bowl ads. We're able to invest in really smart ways and have confidence that we're going to get that money back.

此外，在營銷方面，我們對我們投資的特定渠道和市場進行了非常好的分析，以獲取新客戶或獲得更多席位和現有客戶。這給了我們很大的信心，我們可以進一步投資這些並期望獲得回報。不一定是立即的，但考慮到更長的投資回報期，我們非常有信心。所以這不像我們只是在廣告牌和超級碗廣告上扔錢。我們能夠以非常聰明的方式進行投資，並有信心將這筆錢拿回來。

The next question comes from Andrew DeGasperi with Berenberg.

下一個問題來自 Andrew DeGasperi 和 Berenberg。

Just as one on the partnerships. In particular, I know when you launched the channel partner program internationally, that was -- the focus was expanding geographically. But I'm wondering if we were to fast forward a few years from now, do you see the partner channel becoming a much more meaningful contributor to sales like we see in some of your larger software peers?

就像夥伴關係中的一個一樣。特別是，我知道當您在國際上啟動渠道合作夥伴計劃時，那是 - 重點正在擴大地理範圍。但是我想知道我們是否要在幾年後快進，您是否認為合作夥伴渠道會像我們在您的一些大型軟件同行中看到的那樣對銷售做出更有意義的貢獻？

Yes. No, thanks for that question. I think right now, and we definitely see this as both early and promising. It really is helping us reach customers in more geographies. We had mentioned our partner, Master Concept in Taiwan and how they were able to help us with PC Home and growing that account faster. In EMEA, we're seeing that same thing. We're able to bring on great partners, and they are investing in the Asana business through dedicated resources and programs.

是的。不，謝謝這個問題。我認為現在，我們肯定認為這既早又有希望。它確實幫助我們接觸到更多地區的客戶。我們提到了我們的合作夥伴，台灣的 Master Concept，以及他們如何幫助我們使用 PC Home 並更快地發展該帳戶。在歐洲、中東和非洲，我們看到了同樣的事情。我們能夠引進優秀的合作夥伴，他們正在通過專門的資源和計劃投資 Asana 業務。

I think we -- so those are all promising. And while we're still early, we do think medium to longer term, this is an important place for us to spend resources and bring on additional strategic partners, especially to help in the enterprise. But yes, I would say it's very promising. We're excited to see how we can better reach and serve customers together, but we also know that it's a medium to long-term investment for us.

我認為我們 - 所以這些都是有希望的。雖然我們還處於早期階段，但我們確實認為從中長期來看，這是我們花費資源並吸引更多戰略合作夥伴的重要場所，尤其是在企業方面提供幫助。但是，是的，我會說這是非常有前途的。我們很高興看到我們如何更好地共同接觸和服務客戶，但我們也知道這對我們來說是一項中長期投資。

That's helpful. And then as a follow-up on the 8-figure deal that you signed last year. I mean, I was just wondering, if the pipeline that you're seeing for this year, is there a potential to do more of that type over the next few quarters?

這很有幫助。然後作為你去年簽署的 8 位數交易的後續行動。我的意思是，我只是想知道，如果你今年看到的管道，在接下來的幾個季度中是否有可能做更多這種類型的工作？

Yes, we're certainly very excited about that customer and the rate of growth. The more that we're working with these larger customers that are using us for their most strategic cross-team initiatives, we actually see faster expansion. So there are a number of the larger 7-figure deal customers as well as high-growth ones that we're certainly partnering very closely with to be able to deliver more value and then realize that value.

是的，我們當然對那個客戶和增長率感到非常興奮。我們與這些使用我們進行最具戰略意義的跨團隊計劃的大客戶合作得越多，我們實際上看到的擴張速度就越快。因此，我們肯定會與許多較大的 7 位數交易客戶以及高增長客戶密切合作，以便能夠提供更多價值，然後實現該價值。

The next question comes from Pat Walravens with JMP Securities.

下一個問題來自 JMP 證券公司的 Pat Walravens。

Great and let me add my congratulations. So I don't know if it's for Tim or Dustin, but -- so yes, revenue accelerated year-over-year, and we can see why that would justify investments. But Tim, you know how we are, we look at the quarters. And if you look at the quarters, basically, like calculated billings seems like a good place -- a really clean place to look at it. The business accelerated for 5 quarters in a row from the beginning of '21 to Q2 of this year were up '22. And then seems to have decelerated the last 2 quarters. So I'd just love to hear your thoughts and what key points you make to investors on why the acceleration and the deceleration.

太好了，讓我祝賀你。所以我不知道是蒂姆還是達斯汀，但是 - 所以是的，收入同比增長，我們可以看到為什麼這可以證明投資是合理的。但是蒂姆，你知道我們的情況，我們看看宿舍。如果你看一下宿舍，基本上，就像計算過的賬單一樣，它似乎是一個好地方——一個非常乾淨的地方。業務從21年初連續5個季度加速到今年2季度都在上漲。然後似乎在最後兩個季度減速。所以我很想听聽你的想法，以及你對投資者為什麼加速和減速的關鍵點。

Yes. It's a good question. I do think there -- obviously, there's a comp analysis that you can look at because last year, you're also comping against a -- the prior year where COVID was much more rapid. But I would also point out that billings isn't necessarily the one metric we run the business on. We certainly look at the business across a number of different metrics. And I think GAAP revenue is probably a better indicator of how we think about our growth rate.

是的。這是個好問題。我確實認為那裡 - 顯然，你可以查看一個比較分析，因為去年，你也在與 - 前一年的 COVID 速度更快的比較。但我還要指出，賬單不一定是我們經營業務的一個指標。我們當然會通過許多不同的指標來看待業務。而且我認為 GAAP 收入可能是我們如何看待增長率的更好指標。

Now with that said, we are -- as you can see, one of the things that we are focused on is building out our go-to-market around the enterprise motion and that you would expect RPO as well as our CRPO to -- as one metric that you should be looking to over time where we're getting more enterprise traction, especially as we go beyond -- as we do more longer-term deals.

話雖如此，我們 - 正如你所看到的，我們關注的一件事是圍繞企業動議建立我們的市場，你會期望 RPO 以及我們的 CRPO -作為一個指標，隨著時間的推移，您應該關注我們正在獲得更多企業牽引力的地方，尤其是當我們超越時 - 當我們進行更多長期交易時。

Yes. But revenue, again, was sort of higher at the beginning of half of the year and then decelerating in the second half, too, right? Is there something more fundamental going on than comps?

是的。但同樣，上半年的收入有點高，然後在下半年開始減速，對吧？有沒有比 comps 更基本的事情發生？

No. I mean there is also just the timing of large deals and change -- it's part of why we don't focus on billings as much. But yes, the comps versus the prior year and then just like which quarter particular deals happen to fall in.

不，我的意思是還有大宗交易和變化的時機——這也是我們不那麼關注賬單的部分原因。但是，是的，與前一年的比較，然後就像特定交易發生在哪個季度一樣。

The lumpiness of the billings, really to larger deals.

賬單的波動性，真的是更大的交易。

Yes.

是的。

The next question comes from Rishi Jaluria with RBC Capital Markets.

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

This is Richard on for Rishi. So you mentioned some of the partnerships you guys have with players in tangential areas of the collaboration landscape such as digital collaboration tools, whiteboarding tools. So as you look forward, have you identified other collaboration categories that you think you could expand into long term? Or just, I guess, more generally, how do you think about the broader market opportunity in collaboration software long term?

這是 Rishi 的 Richard。所以你提到了你們與合作領域相關領域的參與者的一些合作夥伴關係，例如數字協作工具、白板工具。因此，當您展望未來時，您是否確定了您認為可以長期擴展的其他協作類別？或者只是，我想，更籠統地說，您如何看待協作軟件的長期市場機會？

Yes, it really depends how long term you're thinking. But for the foreseeable future, we really think of ourselves as pure-play work management. So when we think about the overall collaboration landscape, we divide it into the 3 big areas. So one is communications. So it's going to be anything from Zoom and Slack to deploy technologies and e-mail. And then the content categories, which would include document editors, the whiteboarding tools, specialized products like Adobe or Figma. And then the third big category is work management.

是的，這真的取決於你想多長時間。但在可預見的未來，我們真的認為自己是純粹的工作管理。因此，當我們考慮整體協作格局時，我們將其分為三大領域。所以一個是通訊。因此，從 Zoom 和 Slack 到部署技術和電子郵件，這將是任何東西。然後是內容類別，包括文檔編輯器、白板工具、Adobe 或 Figma 等專業產品。第三大類是工作管理。

And we really -- collaboration software is obviously just really exciting, [large], but even work management is just such an enormous market opportunity and still feels just incredibly untapped. So we think about the total addressable market is over 1 billion-odd workers worldwide. And still a vast majority of them are using the status quo of e-mail, spreadsheets, long meetings, sticky notes on whiteboards or digital light boards. And so we're really excited about staying focused on that opportunity and then partnering with the best-of-breed products and the other ones.

我們真的 - 協作軟件顯然真的很令人興奮，[大]，但即使是工作管理也是一個如此巨大的市場機會，仍然感覺難以置信的未開發。因此，我們認為整個潛在市場是全球超過 10 億工人。他們中的絕大多數仍然使用電子郵件、電子表格、長時間會議、白板或數字燈板上的便籤等現狀。因此，我們非常高興能夠專注於這個機會，然後與同類最佳產品和其他產品合作。

Very helpful. And this might be a little bit of a repetitive question, but you talked about the launch of Asana Flow last month and it seemed to be some strong early engagement numbers and metrics. So I guess just in terms of monetization strategy, I note the majority of these new features are in some of the more premium SKUs. So do you expect something like that to drive some free to paid conversion or upgrade SKUs? And same question, I guess, as you look forward to the broader product road map such as the Employee Impact Suite you mentioned earlier?

非常有幫助。這可能是一個有點重複的問題，但你談到了上個月 Asana Flow 的推出，它似乎是一些強大的早期參與數字和指標。所以我想就貨幣化策略而言，我注意到這些新功能中的大部分都在一些更高級的 SKU 中。那麼，您是否期望這樣的事情能夠推動一些免費到付費的轉換或升級 SKU？同樣的問題，我想，當您期待更廣泛的產品路線圖（例如您之前提到的員工影響套件）時？

You want to talk maybe about the pricing aspect?

您想談談定價方面嗎？

Yes. We're excited that, in particular, for the Flow launch, to get the most value out of the Workflow Builder, the Template Library, those are in our premium tiers. And so I think the early response, we're very excited about both within like new customers who were joining our webinars as well as we had a large over 6,000-person community event of some of our most active evangelist. So again, as just mentioned, it's early right now, but we're excited about the interest and momentum in customers and new customers trying the product and then our sales teams are actively working with them understand their needs and ideally get them into the right package to be able to solve their cost team needs.

是的。我們很高興，特別是對於 Flow 的發布，從工作流生成器、模板庫中獲得最大價值，這些都在我們的高級層中。因此，我認為早期的反應，我們對加入我們網絡研討會的新客戶以及我們最活躍的佈道者舉辦的超過 6,000 人的大型社區活動感到非常興奮。再說一次，正如剛才提到的，現在還為時過早，但我們對客戶和嘗試產品的新客戶的興趣和動力感到興奮，然後我們的銷售團隊正在積極與他們合作，了解他們的需求，理想情況下讓他們進入正確的狀態包能夠解決他們的成本團隊需求。

So that's overall how we're thinking about all the features that we launched, which is making them as accessible as possible is going to be part of our strategy. And then for those customers that have these cross-team's strategic needs, making sure that they understand the value that are in our business and enterprise tiers and being able to move them up into those tiers when they're ready.

所以這就是我們總體上如何考慮我們推出的所有功能，讓它們盡可能易於訪問將成為我們戰略的一部分。然後對於那些有這些跨團隊戰略需求的客戶，確保他們了解我們的業務和企業層的價值，並能夠在他們準備好時將他們提升到這些層。

And then in addition to packaging, I would just also point out that workflows are really helpful for helping a customer adopt and stay retained with Asana. So a lot of what we've built into the templates and what we are helping the first set of customers to with Workflow Builder is really very quickly implement workflow streams that they were otherwise doing by sort of gluing together a set of features like the automation rules or forms or task templates or custom API scripts they were writing to integrate with some of the other apps in their toolkit. And so this is really giving us a much faster way to deploy cross-functional use cases and workflows into new customers and help them just get started on a really good foot and expand faster.

然後除了包裝之外，我還要指出，工作流程對於幫助客戶採用並保持與 Asana 保持一致非常有幫助。因此，我們在模板中內置的很多內容以及我們正在幫助第一批客戶使用 Workflow Builder 的內容確實非常快速地實現了工作流，而他們原本通過將自動化等一組功能粘合在一起來執行這些工作流他們編寫的規則或表單或任務模板或自定義 API 腳本，用於與工具包中的其他一些應用程序集成。因此，這確實為我們提供了一種更快的方式來將跨職能用例和工作流程部署到新客戶中，並幫助他們以非常好的方式開始並更快地擴展。

Next question comes from Brent Thill with Jefferies.

下一個問題來自 Jefferies 的 Brent Thill。

Dustin and Tim, many investors are asking about the magnitude of your spend. And I know Brent's question, the Brents (inaudible) thinking alike on this call on the questions, it's just when you think about how long you're willing to commit to that magnitude of a loss before you start to show some leverage? What's the trigger? What's going to trip the line, if you will, or the core to pull back a bit? You're significantly overspending relative to your peers. And so we're getting a lot of questions on that if you can address that.

達斯汀和蒂姆，許多投資者都在詢問你的支出規模。我知道布倫特的問題，布倫特人（聽不清）在這個問題上的想法是一樣的，只是當你考慮在你開始表現出一些影響力之前你願意承擔多大的損失時？觸發器是什麼？如果你願意的話，什麼會絆倒這條線，或者核心會拉回來一點？相對於你的同齡人，你明顯超支。如果你能解決這個問題，我們會收到很多關於這個的問題。

Yes. Well, there are a couple of different ways to look at it. Again, the very big picture for me as the CEO is just where we are in the category maturation. And so we're investing to win, and we mean that quite literally. And so when you think about this big market opportunity, I'm a little less focused on what the optics of the operating margin are in the short run and more focused on how confident are we that we're going to get those investments back in the form of long-term revenue.

是的。好吧，有幾種不同的方式來看待它。再說一次，對我來說，作為 CEO 的大局就是我們在品類成熟中所處的位置。所以我們投資是為了贏，我們的意思是字面意思。因此，當您考慮這個巨大的市場機會時，我不太關注短期內經營利潤率的表現，而是更關注我們對收回這些投資的信心長期收益的形式。

And so again, there, we look at our efficiency metrics. So we have the 90% gross margins. We look at the success with enterprise customers. We look at the sort of concrete channel and market efficiency for our marketing spend and where sales are succeeding. And so I think the things that will cause us to get leverage are more about hitting diminishing returns there, such that those investments no longer look profitable on the margin and then also slowing our growth trajectory so that it makes less sense to invest ahead because when you're growing as fast as we are, you sort of quickly catch up to the scale of the spend. And if you don't, then you can sort of slow down on adding heads and grow into it.

再次，在那裡，我們查看我們的效率指標。所以我們有 90% 的毛利率。我們著眼於企業客戶的成功。我們著眼於營銷支出的具體渠道和市場效率，以及銷售成功的地方。因此，我認為導致我們獲得槓桿作用的原因更多是關於在那裡實現收益遞減，這樣這些投資看起來不再能在邊際上盈利，然後也放慢了我們的增長軌跡，因此提前投資就沒有意義了，因為當你的增長速度和我們一樣快，你很快就趕上了支出規模。如果你不這樣做，那麼你可以放慢添加頭部並成長為它。

But if you're growing much lower, then you can't really sort of make that kind of rationale. So I think that those are the 2 things that we would look to and you could look to for when we get leverage. But we do, maybe not in every quarter and every year. But over multiyear periods, we do trend towards more leverage.

但是，如果您的增長速度要低得多，那麼您就無法真正提出那種理由。所以我認為這是我們會考慮的兩件事，當我們獲得槓桿時你可以考慮。但我們這樣做，也許不是每個季度和每年。但在多年期間，我們確實傾向於提高槓桿率。

Thanks, Dustin. Just for Tim, when you look at the biggest areas of spend this year, is there an easy way to bucket where this is all going? Is it across the board? Is it 70% of sales and marketing? What -- how would you put broader categories around that?

謝謝，達斯汀。就蒂姆而言，當您查看今年最大的支出領域時，是否有一種簡單的方法可以確定這一切的發展方向？是全面的嗎？它是銷售和營銷的 70% 嗎？什麼——你將如何圍繞它放置更廣泛的類別？

Yes. I would say a big part of it is around our sales and marketing. And I would say it's a combination of demand gen, pipeline building, sales capacity, building up on the enterprise motion and the necessary support. So many of the customer-facing teams to support that part of the business. So it's a lot of focus around reaching our enterprise customers, helping them adopt and helping them expand.

是的。我想說其中很大一部分是圍繞我們的銷售和營銷。我會說這是需求生成、管道建設、銷售能力、建立企業動議和必要支持的結合。這麼多面向客戶的團隊來支持這部分業務。因此，我們非常關注接觸我們的企業客戶，幫助他們採用並幫助他們擴展。

The next question comes from Robert Simmons with D.A. Davidson.

下一個問題來自羅伯特西蒙斯和 D.A.戴維森。

I was wondering how much are you factoring in higher expenses from a return to relative normalcy post or semi post-COVID?

我想知道您在恢復相對正常狀態後或半後 COVID 後會產生多少更高的費用？

Yes. I mean we are -- we haven't returned to the office yet. Some of us are actually doing this call in person together -- but we have included -- made some assumptions of return to office around the back half of the year. So additional travel additional spend related to being in the office together and being able to reach our customers, meet with them, help them be successful. So back -- I would say back half of the year.

是的。我的意思是我們 - 我們還沒有回到辦公室。我們中的一些人實際上是一起親自做這個電話的——但我們已經包括在內了——做出了一些假設，即在今年下半年左右重返辦公室。因此，與一起在辦公室工作以及能夠接觸到我們的客戶、與他們會面、幫助他們取得成功有關的額外旅行額外支出。所以回來 - 我會說半年。

I want to nuance that a little bit, return to office has a concrete definition internally. You have several hundred people in the San Francisco office and then dozens of people in some of the other offices, but 10 means more like 90% or 100% of the workforce coming back. And so part of those expenses exist now and part of them may accelerate in the back half.

我想稍微解釋一下，重返辦公室在內部有一個具體的定義。舊金山辦公室有幾百人，其他一些辦公室有幾十人，但 10 人更像是 90% 或 100% 的員工回來。因此，這些費用的一部分現在已經存在，其中一部分可能會在後半部分加速。

Got it. And -- sorry, finish.

知道了。而且——對不起，結束。

I was just also going to say, I mean, it's not quite so binary though because we are -- we're paying rent on our offices anyway. That's probably the largest sort of office expense. So it's not like it totally flips, but yes, travel and expenses and some of the costs of actually operating the building change.

我還想說，我的意思是，它並不是那麼二元的，因為我們是——無論如何我們都在為我們的辦公室支付租金。這可能是最大的辦公開支。所以這並不是完全顛倒，但是是的，差旅和費用以及實際運營建築物的一些成本發生了變化。

Got it. All right. And then where do you think you're the most underpenetrated out in the market? Is it a particular region? Are there industries? Is it specific parts of the enterprise, like legal or sales? Or what are your thoughts there?

知道了。好的。然後你認為你在哪裡是市場上滲透率最低的？是特定地區嗎？有行業嗎？它是企業的特定部分，如法律或銷售嗎？或者你有什麼想法？

There's a few different ways I can go with that. I mean the first thing that comes to mind is just very highly regulated industries where we may not have the compliance requirements yet or they may just be the least -- sort of last mover to adopt new technologies that's where we least penetrated. But we do have a lot of presence in a wide variety of industries, a wide variety of regions and customer scale.

我可以採用幾種不同的方法。我的意思是，首先想到的是監管非常嚴格的行業，我們可能還沒有合規要求，或者它們可能只是最少的——這是採用我們最少滲透的新技術的最後推動者。但我們確實在各行各業、各地區和客戶規模上都有很多業務。

That concludes the Q&A session. I would like to pass the conference back to Catherine Buan for additional remarks.

問答環節到此結束。我想將會議轉回給 Catherine Buan 以補充意見。

Thanks so much, everyone -- thank you very much, everyone, for joining us today. Looking forward to seeing you on the road this quarter and always appreciate your time. Thank you.

非常感謝大家——非常感謝大家今天加入我們。期待本季度在路上見到您，並始終感謝您的時間。謝謝你。

That concludes the Asana Fourth Quarter and Fiscal Year 2022 Earnings Call. Thank you for your participation. You may now disconnect your lines.

Asana 第四季度和 2022 財年財報電話會議到此結束。感謝您的參與。您現在可以斷開線路。