Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 222

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 222
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 of new customers, retaining and expanding our user base within existing customers, our continued 

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investment in product development and functionality required by larger organizations, and the strategic expansion of our direct sales force.

As of October 31, 2025, we had 25,413 Core customers contributing approximately 76% and 74% of revenues for the three and nine months then ended, respectively. As of October 31, 2024, we had 23,609 Core customers who contributed approximately 75% and 73% of revenues for the three and nine months then ended, respectively. 

As of October 31, 2025 and 2024, we had 785 and 683 customers spending over $100,000, on an annualized basis, respectively.

Dollar-based Net Retention Rate

We expect to derive a portion of our revenue growth from expansion within our existing customer base, where we have an opportunity to expand adoption of Asana across teams, departments, and organizations. We believe that our dollar-based net retention rate demonstrates our opportunity to further expand within our existing customer base, particularly those that generate higher levels of annual revenues.

 Our reported dollar-based net retention rate equals the simple arithmetic average of our quarterly dollar-based net retention rate for the four quarters ending with the most recent fiscal quarter. We calculate our dollar-based net retention rate by comparing our revenues from the same set of customers in a given quarter, relative to the comparable prior-year period. To calculate our dollar-based net retention rate for a given quarter, we start with the revenues in that quarter from customers that generated revenues in the same quarter of the prior year. We then divide that amount by the revenues attributable to that same group of customers in the prior-year quarter. Current period revenues include any upsells and are net of contraction or attrition over the trailing 12 months, but exclude revenues from new customers in the current period. We expect our dollar-based net retention rate to fluctuate due to a number of factors, including the expected growth of our revenue base, the level of penetration within our customer base, our ability to retain our customers, and the macroeconomic environment. For example, macroeconomic conditions have affected customers’ renewal decisions, which has impacted our dollar-based net retention rate in recent periods.

As of October 31, 2025 and 2024, our dollar-based net retention rate was 96% and 96%, respectively. 

As of October 31, 2025 and 2024, our dollar-based net retention