Asana (ASAN) Company Report

Asana's new product, Asana AI Studio, has more than doubled sequentially in adoption, expanding the company's relevance and is now accessible to 100% of its customer base. Upcoming features include "teammates" this fall, designed to build and act within workflows with reasoning capabilities.
The new CEO, Dan, is focused on speed, customer engagement, and re-inflecting growth, aiming to meet 100 customers in 100 days and exploring new go-to-market strategies and channel partnerships.
Asana has achieved a 16% year-over-year improvement in operating margins and sees significant potential for further expansion by optimizing headcount geographic mix and marketing efficacy.
The company is adapting to declining top-of-funnel traffic from AEO/SEO changes by diverting marketing spend to new channels (e.g., Reddit, YouTube, podcasts) and has observed better conversion from higher intent traffic.
Asana AI Studio is a key lever in the tech vertical, helping to mitigate seat downgrades and drive expansion during renewals, with the company retaining logos and anticipating future growth.

Sep 10, 2025, 6:00 PM

Asana Reports Q2 2026 Results and Provides Guidance

ASAN

Earnings

Guidance Update

Share Buyback

Asana reported Q2 FY2026 revenue of $197 million, representing 10% year-over-year growth, and achieved a non-GAAP gross margin of 90% and a non-GAAP operating margin of 7%.
For Q3 FY2026, Asana expects revenue between $197.5 million and $199.5 million and a non-GAAP operating margin of 6%-7%. For FY2026, the company projects revenue between $780.0 million and $790.0 million and a non-GAAP operating margin of 6%.
AI Studio's total ARR more than doubled quarter-over-quarter, showing significant customer demand across industries like manufacturing, financial services, healthcare, and technology. The company is expanding its accessibility with Smart Workflow Gallery and AI Studio Basic and Plus Self Service packages now available.
Asana repurchased $27.8 million of Class A common stock, or 2.0 million shares, in Q2 FY2026. As of July 31, $128.2 million remained available for future repurchases under the program, which was increased by $100 million in May 2025 and had its expiration date removed.

Sep 3, 2025, 8:30 PM

Asana Q4 2025 Results and Leadership Transition Announced

ASAN

Earnings

CEO Change

Product Launch

Q4 Performance: Asana reported $188.3 million in Q4 revenues, a 10% year-over-year increase, with non-GAAP operating loss margin improving from 9% to 1% and reaching positive free cash flow for the full fiscal year, marking a significant turnaround in profitability.
AI Studio Launch: The company introduced AI Studio as part of its multiproduct strategy, with early customer adoption showing substantial promise and potential for exponential credit consumption, although guidance remains modest until further usage data clarifies its impact.
Leadership Transition: CEO Dustin Moskovitz announced his planned transition from day-to-day operations to Board Chair, initiating a leadership succession process that underscores the company's strategic shift and focus on AI-driven growth.
Guidance Outlook: For fiscal 2026, Asana provided guidance with Q1 revenues expected between $184.5 million and $186.5 million and FY revenues projected to reach $782 million to $790 million, signaling continued revenue and margin improvement driven by cost efficiencies and strategic investments.

Mar 10, 2025, 8:31 PM

Asana Inc Announces Q4 2025 Earnings Results

ASAN

Earnings

Guidance Update

Revenue Acceleration/Inflection

Q4 2025 earnings showed a quarterly revenue of $188M with a 10% year-over-year growth, contributing to a total revenue TTM of $724M, reflecting steady momentum.
Non-GAAP metrics remained robust with a consistent 90% gross margin and an improved operating margin moving from -9% to -1% in Q4, indicating operational efficiency gains.
The company continued to expand its customer base, with significant traction for Al Studio among top-tier clients, highlighting strong demand across multiple industries.
Forward-looking guidance for Q1 FY26 includes revenue between $184.5M and $186.5M (7%-8% growth) and a non-GAAP operating margin of 1%-2%, with annual FY26 expectations of $782M-$790M in revenue and at least 5% margin.

Mar 10, 2025, 8:30 PM

Asana Announces Q4 2025 Results

ASAN

Earnings

Revenue Acceleration/Inflection

Guidance Update

Q4 2025 revenues reached $188.3 million, reflecting a 10% year-over-year increase and aligning with guidance.
The quarter saw an improvement in margins with the GAAP operating loss narrowing to $63.6 million (34% of revenues) and a significant reduction in the non-GAAP operating loss to $1.7 million (1% of revenues) compared to the prior year.
Asana achieved a full year of positive operating and free cash flows, indicating progress toward operational efficiency and profitability.
The company highlighted strong early momentum with AI Studio, which is expected to further enhance growth and set the stage for non-GAAP profitability in Q1 FY26.

Mar 10, 2025, 12:00 AM

Asana Announces CEO Succession Plan

ASAN

CEO Change

Board Change

Dustin Moskovitz announced his planned transition from CEO to Chair once a new CEO is appointed, marking a significant change in the company’s leadership structure.
The Board has retained an executive search firm to identify a successor, with Moskovitz remaining in his role until the new CEO assumes responsibility, ensuring continuity in leadership and strategic focus on AI initiatives.

Mar 10, 2025, 12:00 AM

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