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This statistic highlights Asana’s Dollar-Based Retention Rate (DBNR), reported on a quarterly basis from Q3 2020 onwards.
Asana is a system used to record work. This system collects and structures organizational knowledge about the past work and provides a real-time plan and roadmap for current and future initiatives. This platform is known as Asana Work Graph which associates and captures, units of work- projects, tasks, milestones, goals, and portfolios. The people responsible for executing those units of work, the processes in which work gets done – rules and regulation, and templates.
What is Dollar Based Retention Rate?
Dollar Based Retention Rate is used by businesses to determine how increased revenue from current customers may compensate for revenue loss due to turnover. It compares the revenue earned by these customers at the beginning of the period to the end of the period (i.e., the common set) for customers who remain over two adjacent periods (i.e., the common set). If overall revenue from this category grows, it is a net growth; if it drops, it is a net decline. To compute the dollar-based net retention rate for a given quarter, take the revenue from customers of that quarter that generated the same revenues in the same quarter prior year and then divide that amount by the revenue attributed to the same group of customers in the prior-year quarter.
Asana, Inc.’s Dollar Based Retention Rate
|Category||Q3 2020||Q1 2021||Q2 2021||Q3 2021||Q4 2021||Q1 2022||Q2 2022||Q3 2022|
|Dollar-based retention rate (%)||120||120||115||115||115||115||118||120|
(All the figures are percentages)
The dollar based retention rate of this company was 120% in Q3 2020. It remained constant in Q1 2021. This was followed by a decline of 5% in Q2 2021. The dollar based retention rate remained the same in the next four quarters till Q1 2022. This was followed by a rise of 3% as it was recorded to be 118% in Q2 2022 which further rose to 120% in Q3 2022. The dollar based retention rate in Q3 2022 indicated a growth of 2.6% in the quarter-on-quarter index. The year-on-year index shows 2.6% growth when compared with the dollar based retention rate of Q3 2021.
Asana is an online and mobile work management software that assists teams in organizing, tracking, and managing their projects. It is made by the same-named firm in San Francisco (Asana, Inc). Dustin Moskovitz and Justin Rosenstein founded the firm in 2008. In April of 2012, the product was made available for purchase. Following its direct IPO in September 2020, the firm was valued at $5.5 billion.
Asana data model provides team leads, individuals, and executives with dynamic views into the work that is most relevant to the customer- across multiple projects and people- all based on the same underlying data of work graph. Clients can prioritize and manage their daily tasks and collaborate with team members on shared projects, gaining visibility into who is doing what, and when each piece of work is due. The platform is customizable to the preference of the customer using tasks, lists, calendars, boards, timelines, reporting dashboards, and Workload.
Asana was created to help teams within an organization, increase their productivity by reducing their time spent on work about work of replying mails and in intra-coordination. It is a work management platform that helps different teams in managing their daily tasks to cross-functional strategic initiatives. They have over 30 million users who have registered and millions of teams in almost every country around the world are using Asana. As of January 31, 2021, Asana had over 1.5 million paid users.
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