Asana Beats Q2 Revenue, Raises Full-Year Guidance on AI Momentum
ASAN sits 67% above its 52-week low of $5.38.
Summary
Asana beat Q2 revenue expectations, expanded non-GAAP operating margin to 10%, and raised full-year revenue and operating income guidance, while announcing a Q3 launch of AI-powered Agentic Work Management across all paid tiers.
Key Events · Earnings and Guidance · ASAN
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Q2 Revenue Beat
Revenue of $216.4 million grew 10% year over year and exceeded the high end of guidance; non-GAAP operating margin expanded ~300 bps to 10%.
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Full-Year Guidance Raised
FY27 revenue guidance raised to $858.5–$863.5 million and non-GAAP operating income to $84.5–$86.5 million, implying ~10% operating margin.
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AI Product Expansion
Agentic Work Management launches in Q3, bringing AI Teammates, AI Studio, and Asana Dash to every paid tier, extending AI capabilities across the customer base.
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Customer Metrics Improve
Core customers grew 7% YoY to 26,778; $100K+ customers grew 16% YoY to 890; overall dollar-based net retention rate was 97%.
Analysis · ASAN · Technology
Asana delivered Q2 revenue of $216.4 million, up 10% year over year and above the high end of its own guidance, while non-GAAP operating margin expanded roughly 300 basis points to 10%. Management raised full-year revenue guidance to $858.5–$863.5 million and non-GAAP operating income to $84.5–$86.5 million, citing improving retention and accelerating upmarket momentum. The company also announced that Agentic Work Management — bringing AI Teammates, AI Studio, and Asana Dash to every paid tier — launches in Q3, a product expansion that could broaden its addressable market. Against a backdrop of recent insider selling and a CFO transition, this quarter's profitability and cash-flow improvement is a meaningful positive data point.
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At the time of this filing, ASAN was trading at $9.01 on NYSE in the Technology sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $5.38 to $15.71. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.