throwawaycow

Asana's is better:

- 86% gross margins (122,725 / 142,606)

- 86% YoY rev growth (76,770 to 142,606)

- 75k paying customers (easy come, easy go)

- one-off sale pitches vs one-off lines of code

https://www.sec.gov/Archives/edgar/data/1477720/000119312520...

Similar structure usually, here's a few others by Wilson Sonsini:

- Palantir: https://www.sec.gov/Archives/edgar/data/1321655/000119312520...

- Cloudflare: https://www.sec.gov/Archives/edgar/data/1477333/000119312519...

- Zoom: https://www.sec.gov/Archives/edgar/data/1585521/000119312519...

These financials are awful for a software business. Gross margin of 67%, even with pilot costs lumped into Sales&Marketing. If you add these pilot costs to COR, you'd get better numbers manufacturing furniture.

-- 2019 Financials ('000s)

Revenue: 742,555

Cost of Revenue: 242,373

Gross Profit: 500,182

Sales and Marketing: 450,120

-- Sales and Marketing includes pilot costs

"Sales and marketing costs primarily include salaries, stock-based compensation expense, and benefits for personnel involved in executing on pilots and performing other brand building activities, as well as third-party cloud hosting services for our pilots, marketing and sales event-related costs, and allocated overhead. The Company generally charges all such costs to sales and marketing expense in the period incurred."