EX-99.1 5 asana8-kex991q3fy26.htm EX-99.1 Document
Exhibit 99.1
Asana Announces Third Quarter Fiscal 2026 Results

Q3 revenue exceeded high-end of guidance
Raises both high-end of FY26 revenue and non-GAAP operating income guidance ranges
Announced AI Teammates: collaborative agents that understand the context of all work across the organization and deliver real business outcomes

December 2, 2025 – San Francisco, CA – Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), a leading work management platform for human and AI collaboration, today reported financial results for its third quarter fiscal 2026 ended October 31, 2025.

“This was a solid quarter, with continued improvement in NRR and momentum with AI Studio,” said Dan Rogers, Chief Executive Officer of Asana. “Our newly announced AI Teammates bring collaborative, context-aware agents with the right controls and checkpoints to deliver real business outcomes. Early customer results show meaningful productivity gains, which is very encouraging for the long-term potential of the Asana AI platform in the Agentic Enterprise.”

“Q3 was another strong quarter of execution. We exceeded the high end of our revenue guidance, improved our year-to-date GAAP operating margin by 10 percentage points, and year-to-date non-GAAP operating margin by 14 percentage points,” said Sonalee Parekh, Chief Financial Officer of Asana. “The progress we’re making on NRR, the initiatives to strengthen new business acquisition, and the innovation across our AI platform position us well for long-term growth acceleration and continued margin improvement.”

Third Quarter Fiscal 2026 Financial Highlights

•Revenues: Revenues were $201.0 million, an increase of 9% year over year.
•Operating Income/Loss: GAAP operating loss was $70.0 million, or 35% of revenues, compared to GAAP operating loss of $60.2 million, or 33% of revenues, in the third quarter of fiscal 2025. Non-GAAP operating income was $16.3 million, or 8% of revenues, compared to non-GAAP operating loss of $7.6 million, or 4% of revenues, in the third quarter of fiscal 2025.
•Net Income/Loss: GAAP net loss was $68.4 million, compared to GAAP net loss of $57.3 million in the third quarter of fiscal 2025. GAAP net loss per share was $0.29, compared to GAAP net loss per share of $0.25 in the third quarter of fiscal 2025. Non-GAAP net income was $17.9 million, compared to non-GAAP net loss of $4.8 million in the third quarter of fiscal 2025. Non-GAAP diluted net income per share was $0.07, compared to non-GAAP net loss per share of $0.02 in the third quarter of fiscal 2025.
•Cash Flow: Cash flows from operating activities were $16.2 million, compared to negative $14.9 million in the third quarter of fiscal 2025. Adjusted free cash flow was $13.4 million, compared to negative $18.2 million in the third quarter of fiscal 2025.

Third Quarter Fiscal 2026 Business Highlights

•The number of Core customers, or customers spending $5,000 or more on an annualized basis, grew to 25,413 in Q3, an increase of 8% year over year. Revenues from Core customers in Q3 grew 10% year over year.
•The number of customers spending $100,000 or more on an annualized basis in Q3 grew to 785, an increase of 15% year over year.
•Overall dollar-based net retention rate in Q3 was 96%.
•Dollar-based net retention rate for Core customers in Q3 was 97%.





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Exhibit 99.1
•Dollar-based net retention rate for customers spending $100,000 or more on an annualized basis in Q3 was 96%.
•Announced AI Teammates, collaborative agents with the context, checkpoints and controls to execute complex tasks alongside humans, boosting team velocity and work quality.
•Appointed Arnab Bose to Chief Product Officer to accelerate product innovation and help customers unlock AI-driven productivity gains.
•Held our largest Work Innovation Summit events in London and New York, showcasing Asana's vision for the future of work to over 1,600 attendees through hands-on demos, expert presentations, and actionable AI strategies.
•Released the 2025 Global State of AI at Work Report, revealing that while AI agents are transforming work, trust and accountability remain key challenges for adoption.
•Launched an AI Maturity Assessment to help companies assess their AI readiness and receive tailored guidance from Asana specialists to maximize AI impact.
•Named a Leader in the Gartner® Magic Quadrant™ for Adaptive Project Management and Reporting and in the Gartner® Magic Quadrant™ for Collaborative Work Management.

Financial Outlook

For the fourth quarter of fiscal 2026, Asana expects:

•Revenues of $204.0 million to $206.0 million, representing year over year growth of 8% to 9%.
•Non-GAAP operating income of $14.0 million to $16.0 million, with 7% to 8% operating margin.
•Non-GAAP net income per share of $0.07, assuming diluted weighted average shares outstanding of approximately 244 million.

For fiscal 2026, Asana expects:

•Revenues of $789.0 million to $791.0 million, representing year over year growth of 9%.
•Non-GAAP operating income of $52.5 million to $54.5 million, with 7% operating margin.
•Non-GAAP net income per share of $0.25 to $0.26, assuming diluted weighted average shares outstanding of approximately 243 million.

These statements are forward-looking and actual results may materially differ. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause Asana’s actual results to materially differ from these forward-looking statements.

Asana has not provided the corresponding GAAP measure or a reconciliation of non-GAAP outlook measures to corresponding GAAP measures as these are not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, many of these costs and expenses that may be incurred in the future. However, it is important to note that these costs and expenses could have a significant effect on future GAAP results. Asana has provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for its third quarter fiscal year 2026 non-GAAP results included in this press release.






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Exhibit 99.1
Earnings Conference Call Information

Asana will hold a conference call and live webcast today to discuss these results at 1:30 p.m. Pacific Time. A live webcast and replay will be available on the Asana Investor Relations webpage at: https://investors.asana.com.

Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about our market opportunity, the potential and impact of AI, the expected benefits of AI Studio, including our expectations regarding revenue to be generated by AI Studio, the increased accessibility of AI including through AI Studio Plus and Smart Workflow Gallery, our ability to execute on our current strategies, our technology and brand position, expectations regarding product launches, the stock repurchase programs, Asana’s outlook for the fiscal quarter and the full fiscal year ending January 31, 2026 including our revised full-year guidance, Asana’s outlook for the expected benefits of our offerings, and our market position. Forward-looking statements generally relate to future events or Asana’s future financial or operating performance. Forward-looking statements include all statements that are not historical facts and in some cases can be identified by terms such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “continue,” “could,” “potential,” “may,” “will,” “goal,” or similar expressions and the negatives of those terms. However, not all forward-looking statements contain these identifying words. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including factors beyond Asana’s control, that may cause Asana’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: Asana’s ability to achieve future growth and sustain its growth rate, Asana’s ability to attract and retain customers and increase sales to its customers, Asana’s ability to develop and release new products and services and to scale its platform, including the successful integration of AI, Asana’s ability to increase adoption of its platform through Asana’s self-service model, Asana’s ability to maintain and grow its relationships with strategic partners, the highly competitive and rapidly evolving market in which Asana participates, Asana’s international expansion strategies, Asana’s capital allocation strategy including its stock repurchase program, and broader macroeconomic conditions. Further information on risks that could cause actual results to differ materially from forecasted results are included in Asana’s filings with the SEC, including Asana’s Annual Report on Form 10-K for the year ended January 31, 2025 and subsequent filings with the SEC. Any forward-looking statements contained in this press release are based on assumptions that Asana believes to be reasonable as of this date. Except as required by law, Asana assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

Use of Non-GAAP Financial Measures

To supplement Asana’s consolidated financial statements, which are prepared and presented in accordance with GAAP, Asana utilizes certain non-GAAP financial measures to assist in understanding and evaluating its core operating performance. In this release, Asana’s non-GAAP gross profit, gross margin, operating expenses, operating expenses as a percentage of revenue, operating income, operating margin, net income, net income per share, free cash flow, adjusted free cash flow, and revenues adjusted for the impact of foreign currency are not presented in accordance with GAAP and are not intended to be used in lieu of GAAP presentations of results of operations. These non-GAAP financial measures, which may be different from similarly titled measures used by other companies, are presented to enhance





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Exhibit 99.1
investors’ overall understanding of Asana’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures which can be found in the accompanying financial statements included with this press release.

Asana is presenting these non-GAAP financial measures because it believes that these non-GAAP financial measures provide useful information about its financial performance, enhance the overall understanding of Asana’s past performance and future prospects, facilitate period-to-period comparisons of operations against other companies in Asana’s industry, and allow for greater transparency with respect to important metrics used by Asana’s management for financial and operational decision-making.

Asana believes the following adjustments and exclusions from its non-GAAP financial measures are useful to investors and others in assessing Asana’s operating performance due to the following factors:

•Stock-based compensation expenses. Although stock-based compensation is an important aspect of the compensation of our employees and executives, management believes it is useful to exclude stock-based compensation expenses to better understand the long-term performance of Asana’s core business and to facilitate comparison of its results to those of peer companies.
•Employer payroll tax associated with RSUs. The amount of employer payroll tax-related items on employee stock transactions is dependent on Asana’s stock price and other factors that are beyond its control and that do not correlate to the operation of the business.
•Non-cash expenses. Non-cash expenses include charges for impairment of long-lived assets. We believe the exclusion of certain non-cash items provides useful supplemental information to investors and facilitates the analysis of its operating results and comparison of operating results across reporting periods.
•Restructuring related costs (benefits). These charges are associated with the re-alignment of our organization to meet business needs, top strategic priorities, and key growth opportunities. We believe it is useful to exclude these expenses in order to better understand the long-term performance of our core business, to facilitate comparison of our results to those of peer companies, and to facilitate comparison over multiple periods.
•Revenues adjusted for the impact of foreign currency. Calculated by applying the comparative prior period average exchange rates to revenue recognized on invoices billed in currencies other than United States dollars in the current period. Asana provides revenues adjusted for the impact of foreign exchange rates as a framework for assessing how our underlying business performed from period to period, excluding the effects of foreign currency fluctuations. The growth rates for revenues adjusted for the impact of foreign currency are calculated by comparing the revenues adjusted for the impact of foreign currency in the current period to the GAAP revenue from the comparable prior period.

There are a number of limitations related to the use of non-GAAP financial measures as compared to GAAP financial measures, including that the non-GAAP financial measures exclude stock-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense in Asana’s business and an important part of its compensation strategy.

In addition to the non-GAAP financial measures outlined above, Asana also uses the non-GAAP financial measures of free cash flow, which is defined as net cash from operating activities less cash used for purchases of property and equipment and capitalized internal-use software costs, and adjusted free cash flow, which is defined as free cash flow plus





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Exhibit 99.1
costs paid related to restructuring. Asana believes free cash flow and adjusted free cash flow are important liquidity measures of the cash that is available, after capital expenditures and operational expenses, for investment in its business and to make acquisitions. Asana believes that free cash flow and adjusted free cash flow are useful to investors as liquidity measures because they measure Asana’s ability to generate or use cash. There are a number of limitations related to the use of free cash flow and adjusted free cash flow as compared to net cash from operating activities, including that free cash flow and adjusted free cash flow exclude capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made.

Definitions of Business Metrics

Customers spending $5,000 or more on an annualized basis, or Core customers

We define customers spending $5,000 or more, which we also refer to as Core customers, as those organizations on a paid subscription plan that had $5,000 or more in annualized GAAP revenues in a given quarter, inclusive of discounts.

Customers spending $100,000 or more on an annualized basis

We define customers spending $100,000 or more as those organizations on a paid subscription plan that had $100,000 or more in annualized GAAP revenues in a given quarter, inclusive of discounts.

Dollar-based net retention rate

Asana’s reported dollar-based net retention rate equals the simple arithmetic average of its quarterly dollar-based net retention rate for the four quarters ending with the most recent fiscal quarter. Asana calculates its dollar-based net retention rate by comparing its revenues from the same set of customers in a given quarter, relative to the comparable prior-year period. To calculate Asana’s dollar-based net retention rate for a given quarter, Asana starts with the revenues in that quarter from customers that generated revenues in the same quarter of the prior year. Asana then divides 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. Asana expects its dollar-based net retention rate to fluctuate in future periods due to a number of factors, including the expected growth of its revenue base, the level of penetration within its customer base, its ability to retain its customers, and the macroeconomic environment.

About Asana
Asana is a leading work management platform for human and AI collaboration. Over 170,000 customers like Accenture, Amazon, Anthropic, and Suzuki rely on Asana to align teams and accelerate organizational impact. Whether it’s managing strategic initiatives, cross-functional programs, or company-wide goals, Asana helps organizations bring clarity to complexity—turning plans into action with AI working alongside teams every step of the way. To learn more, visit www.asana.com.
Disclosure of Material Information
Asana announces material information to its investors using SEC filings, press releases, public conference calls, and on its investor relations page of Asana’s website at https://investors.asana.com. Asana uses these channels, as well as social media, including its X (formerly Twitter) account (@asana), its blog (blog.asana.com), its LinkedIn page (www.linkedin.com/company/asana), its Instagram account (@asana), its Facebook page (www.facebook.com/asana/), Threads profile (@asana) and TikTok account (@asana), to





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Exhibit 99.1
communicate with investors and the public about Asana, its products and services and other matters. Therefore, Asana encourages investors, the media and others interested in Asana to review the information it makes public in these locations, as such information could be deemed to be material information.

Eva Leung
Asana Investor Relations
ir@asana.com

Frances Ward
Asana Communications
press@asana.com








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Exhibit 99.1
ASANA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended October 31,Nine Months Ended October 31,
2025202420252024
Revenues$201,033 $183,882 $585,236 $535,542 
Cost of revenues(1)
22,307 19,798 61,755 57,589 
Gross profit178,726 164,084 523,481 477,953 
Operating expenses: 
Research and development(1)
73,813 83,286 228,316 257,228 
Sales and marketing(1)
100,243 104,708 306,761 317,689 
General and administrative(1)
74,656 36,270 151,750 106,182 
Total operating expenses248,712 224,264 686,827 681,099 
Loss from operations(69,986)(60,180)(163,346)(203,146)
Interest income and other income (expense), net3,609 4,949 12,746 16,069 
Interest expense(767)(934)(2,355)(2,831)
Loss before provision for income taxes(67,144)(56,165)(152,955)(189,908)
Provision for income taxes1,289 1,161 3,856 3,329 
Net loss$(68,433)$(57,326)$(156,811)$(193,237)
Net loss per share:
Basic and diluted$(0.29)$(0.25)$(0.66)$(0.84)
Weighted-average shares used in calculating net loss per share:
Basic and diluted237,790 229,624 236,307 228,830 
_______________
(1) Amounts include stock-based compensation expense as follows:
Three Months Ended October 31,Nine Months Ended October 31,
2025202420252024
Cost of revenues$439 $354 $1,280 $1,030 
Research and development26,109 28,087 81,450 88,872 
Sales and marketing13,560 15,837 46,483 48,334 
General and administrative14,638 7,677 35,854 22,466 
Total stock-based compensation expense$54,746 $51,955 $165,067 $160,702 







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ASANA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
 October 31, 2025January 31, 2025
Assets
Current assets
Cash and cash equivalents$183,470 $184,728 
Marketable securities280,146 282,156 
Restricted cash408 136 
Accounts receivable, net72,296 87,567 
Prepaid expenses and other current assets51,096 46,154 
Total current assets587,416 600,741 
Property and equipment, net87,555 95,836 
Operating lease right-of-use assets137,667 166,545 
Other assets27,792 28,293 
Total assets$840,430 $891,415 
Liabilities and Stockholders’ Equity
Current liabilities  
Accounts payable$13,158 $9,922 
Accrued expenses and other current liabilities78,491 83,031 
Deferred revenue, current304,596 300,798 
Operating lease liabilities, current24,702 22,066 
Total current liabilities420,947 415,817 
Term loan, net35,576 39,291 
Deferred revenue, noncurrent534 2,005 
Operating lease liabilities, noncurrent189,686 201,733 
Other liabilities5,325 5,046 
Total liabilities652,068 663,892 
Stockholders' equity  
Common stock2 2 
Additional paid-in capital2,246,005 2,059,848 
Accumulated other comprehensive income (loss)1,825 (3,851)
Accumulated deficit(2,059,470)(1,828,476)
Total stockholders’ equity188,362 227,523 
Total liabilities and stockholders’ equity$840,430 $891,415 
                                                                                                        






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ASANA, INC.
SUMMARY OF CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Three Months Ended October 31,Nine Months Ended October 31,
2025202420252024
Cash flows from operating activities  
Net loss$(68,433)$(57,326)$(156,811)$(193,237)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Allowance for expected credit losses399 653 1,592 1,025 
Depreciation and amortization5,809 4,437 15,918 12,730 
Amortization of deferred contract acquisition costs7,036 6,696 20,805 19,189 
Stock-based compensation expense54,746 51,955 165,067 160,702 
Net accretion of discount on marketable securities(439)(1,090)(1,717)(4,646)
Non-cash lease expense4,566 4,640 13,688 13,528 
Impairment of long-lived assets30,716 — 30,716 — 
Amortization of discount on revolving credit facility and term loan issuance costs31 30 91 91 
Changes in operating assets and liabilities:
Accounts receivable(3,391)(2,304)14,376 20,610 
Prepaid expenses and other current assets(4,532)(2,254)(24,711)(15,852)
Other assets287 (1,513)561 (4,594)
Accounts payable(3,652)(1,759)2,609 4,610 
Accrued expenses and other liabilities7,334 (5,035)(4,836)(11,408)
Deferred revenue(8,494)(7,050)2,326 10,920 
Operating lease liabilities(5,811)(4,970)(16,903)(14,598)
Net cash provided by (used in) operating activities16,172 (14,890)62,771 (930)
Cash flows from investing activities  
Purchases of marketable securities(56,981)(59,502)(161,077)(166,628)
Maturities of marketable securities69,000 104,309 165,576 195,605 
Purchases of property and equipment(669)(1,372)(2,604)(4,064)
Capitalized internal-use software costs(2,074)(1,919)(7,361)(4,702)
Net cash provided by (used in) investing activities9,276 41,516 (5,466)20,211 
Cash flows from financing activities  
Repayment of term loan(1,250)(625)(3,750)(1,875)
Repurchases of common stock(30,785)(54,847)(74,183)(73,869)
Proceeds from exercise of stock options762 1,755 2,835 3,884 
Proceeds from employee stock purchase plan5,266 4,799 13,012 13,665 
Taxes paid related to net share settlement of equity awards— (1)— (5)
Net cash used in financing activities(26,007)(48,919)(62,086)(58,200)
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash(235)(474)3,795 (656)
Net decrease in cash, cash equivalents, and restricted cash(794)(22,767)(986)(39,575)
Cash, cash equivalents, and restricted cash  
Beginning of period184,672 219,855 184,864 236,663 
End of period$183,878 $197,088 $183,878 $197,088 
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ASANA, INC.
Reconciliation of GAAP to Non-GAAP Data
(in thousands, except percentages)
(unaudited)
Three Months Ended October 31,Nine Months Ended October 31,
2025202420252024
Reconciliation of gross profit and gross margin
GAAP gross profit$178,726 $164,084 $523,481 $477,953 
Plus: stock-based compensation and related employer payroll tax associated with RSUs449 361 1,318 1,052 
Non-GAAP gross profit$179,175 $164,445 $524,799 $479,005 
GAAP gross margin88.9 %89.2 %89.4 %89.2 %
Non-GAAP adjustments0.2 %0.2 %0.3 %0.2 %
Non-GAAP gross margin89.1 %89.4 %89.7 %89.4 %
Reconciliation of operating expenses    
GAAP research and development$73,813 $83,286 $228,316 $257,228 
Less: stock-based compensation and related employer payroll tax associated with RSUs(26,536)(28,419)(83,571)(90,897)
Adjustment for: restructuring costs— — (948)— 
Non-GAAP research and development$47,277 $54,867 $143,797 $166,331 
GAAP research and development as percentage of revenue36.7 %45.3 %39.0 %48.0 %
Non-GAAP research and development as percentage of revenue23.5 %29.8 %24.6 %31.1 %
GAAP sales and marketing$100,243 $104,708 $306,761 $317,689 
Less: stock-based compensation and related employer payroll tax associated with RSUs(13,784)(16,001)(47,555)(49,234)
Adjustment for: restructuring costs— — (831)— 
Non-GAAP sales and marketing$86,459 $88,707 $258,375 $268,455 
GAAP sales and marketing as percentage of revenue49.9 %56.9 %52.4 %59.3 %
Non-GAAP sales and marketing as percentage of revenue43.0 %48.2 %44.1 %50.1 %
GAAP general and administrative$74,656 $36,270 $151,750 $106,182 
Less: stock-based compensation and related employer payroll tax associated with RSUs(14,840)(7,768)(36,452)(22,904)
Less: impairment of long-lived assets(30,716)— (30,716)— 
Adjustment for: restructuring costs— — (438)— 
Non-GAAP general and administrative$29,100 $28,502 $84,144 $83,278 
GAAP general and administrative as percentage of revenue37.1 %19.7 %25.9 %19.8 %
Non-GAAP general and administrative as percentage of revenue14.5 %15.5 %14.4 %15.6 %
Reconciliation of operating loss and operating margin
GAAP loss from operations$(69,986)$(60,180)$(163,346)$(203,146)
Plus: stock-based compensation and related employer payroll tax associated with RSUs55,609 52,549 168,896 164,087 
Plus: impairment of long-lived assets30,716 — 30,716 — 
Adjustment for: restructuring costs — — 2,217 — 
Non-GAAP income (loss) from operations$16,339 $(7,631)$38,483 $(39,059)
GAAP operating margin(34.8)%(32.7)%(27.9)%(37.9)%
Non-GAAP adjustments42.9 %28.6 %34.5 %30.6 %
Non-GAAP operating margin8.1 %(4.1)%6.6 %(7.3)%
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ASANA, INC.
Reconciliation of GAAP to Non-GAAP Data
(in thousands, except percentages and per share data)
(unaudited)
Three Months Ended October 31,Nine Months Ended October 31,
2025202420252024
Reconciliation of net income (loss)
GAAP net loss$(68,433)$(57,326)$(156,811)$(193,237)
Plus: stock-based compensation and related employer payroll tax associated with RSUs55,609 52,549 168,896 164,087 
Plus: impairment of long-lived assets30,716 — 30,716 — 
Adjustment for: restructuring costs— — 2,217 — 
Non-GAAP net income (loss)$17,892 $(4,777)$45,018 $(29,150)
Reconciliation of net income (loss) per share    
GAAP net loss per share, basic$(0.29)$(0.25)$(0.66)$(0.84)
Non-GAAP adjustments to net loss0.37 0.23 0.85 0.71 
Non-GAAP net income (loss) per share, basic$0.08 $(0.02)$0.19 $(0.13)
Weighted-average shares used in GAAP per share calculation, basic and diluted and non-GAAP per share calculation, basic237,790 229,624 236,307 228,830 
GAAP net loss per share, diluted$(0.29)$(0.25)$(0.66)$(0.84)
Non-GAAP adjustments to net loss0.36 0.23 0.85 0.71 
Non-GAAP net income (loss) per share, diluted$0.07 $(0.02)$0.19 $(0.13)
Weighted-average shares used in non-GAAP per share calculation, diluted242,927 229,624 242,523 228,830 


Three Months Ended October 31,Nine Months Ended October 31,
2025202420252024
Computation of free cash flow and adjusted free cash flow
Net cash provided by (used in) investing activities$9,276 $41,516 $(5,466)$20,211 
Net cash used in financing activities$(26,007)$(48,919)$(62,086)$(58,200)
Net cash provided by (used in) operating activities$16,172 $(14,890)$62,771 $(930)
Less: purchases of property and equipment(669)(1,372)(2,604)(4,064)
Less: capitalized internal-use software costs(2,074)(1,919)(7,361)(4,702)
Free cash flow$13,429 $(18,181)$52,806 $(9,696)
Plus: restructuring costs paid— — 5,944 — 
Adjusted free cash flow$13,429 $(18,181)$58,750 $(9,696)


Three Months Ended October 31,Nine Months Ended October 31,
2025202420252024
Computation of revenue adjusted for impact of foreign currency
GAAP revenue$201,033 $183,882 $585,236 $535,542 
Adjustment for: impact of foreign currency(726)(462)(1,251)(111)
Revenue adjusted for impact of foreign currency$200,307 $183,420 $583,985 $535,431 
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