Asana, Inc., alongside its subsidiaries, offers a comprehensive work management platform designed for individual contributors, team leaders, and top executives across the ...
Asana, Inc. develops and operates a software-as-a-service work management platform designed to help organizations coordinate work from routine tasks to complex, company-wide initiatives. The company was founded in 2008 by Dustin Moskovitz and Justin Rosenstein, formerly associated with Facebook, and was initially incorporated as Smiley Abstractions, Inc. It changed its ...Asana, Inc. develops and operates a software-as-a-service work management platform designed to help organizations coordinate work from routine tasks to complex, company-wide initiatives. The company was founded in 2008 by Dustin Moskovitz and Justin Rosenstein, formerly associated with Facebook, and was initially incorporated as Smiley Abstractions, Inc. It changed its name to Asana, Inc. in July 2009. The product launched commercially in 2012, and Asana became a publicly traded company on the New York Stock Exchange under the symbol ASAN in 2020.
Asana’s platform provides tools for project and task management, workflow coordination, team communication, reporting, goals, portfolios, resource planning, approvals, forms, templates, and integrations with other business applications. The platform is built around a shared work structure that connects tasks, projects, teams, goals, responsibilities, and operational information. More recently, Asana has emphasized artificial intelligence and agentic work management, seeking to automate repetitive coordination activities, summarize work, identify risks, recommend next steps, and help employees and software agents operate within common organizational workflows.
The company uses a subscription-based cloud software model. Revenue is primarily generated through paid subscriptions, generally organized by user, plan level, and organizational requirements. Its customer base includes small and midsize businesses as well as large enterprises, with use cases spanning product development, marketing campaigns, sales operations, information technology, human resources, customer support, strategic planning, and corporate transformation. Asana competes with project-management, collaboration, productivity, workflow, and enterprise work-management products offered by companies such as Microsoft, Atlassian, Salesforce, Monday.com, Smartsheet, Notion, and other specialized software vendors.
Asana’s principal operating costs are typical of a growth-oriented software company. Research and development supports product engineering, artificial intelligence, security, infrastructure, and platform improvements. Sales and marketing expenses include demand generation, field sales, customer success, partnerships, and brand development. General and administrative costs cover finance, legal, human resources, compliance, and public-company functions. Stock-based compensation has historically represented a meaningful expense, while capital expenditure requirements are relatively modest because the business is software-based rather than manufacturing-based. The company has no material inventory or traditional bill-of-materials requirement; its main operational inputs are engineering talent, cloud infrastructure, data security, software tools, and customer-support resources.
The supplied trailing-twelve-month data indicates strong gross margins of approximately 88.5%, consistent with a cloud software business, but the company remains unprofitable on a GAAP-style operating and net-income basis. Reported trailing net margin is approximately negative 20.2%, while EBITDA margin is also negative. Asana generates positive operating and free cash flow in the supplied data, although profitability ratios such as return on assets and return on equity remain negative. The company has approximately 1,819 employees and is headquartered at 633 Folsom Street in San Francisco, California. Dan Rogers serves as chief executive officer; he previously held leadership roles at LaunchDarkly, ServiceNow, and Rubrik. Asana’s strategic objective is to become a core operating layer for organizations by combining structured work management, collaboration, automation, analytics, and AI while improving enterprise adoption, customer retention, operating leverage, and durable profitability.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$790.8M
+9.2%
-0.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-189.0M
+26.0%
+55.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+89.0%
-0.3%
-0.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-25.0%
+32.3%
+77.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-23.9%
+32.3%
+55.2%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$86.6M
+825.3%
+41.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+10.9%
+747.0%
+42.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
161.8%
+37.2%
+12.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.18x
-18.0%
-3.1%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and thank you for standing by. Welcome to the Asana First Quarter Fiscal Year 2027 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn the conference over to your speaker for today, Eva, Head of Investor Relations. Please go ahead.
Eva Leung: Good afternoon, and thank you for joining us on today's conference call to discuss the financial results for Asana's First Quarter Fiscal Year 2027. With me on today's call are Dan Rogers, our Chief Executive Officer; and Aziz Megji, our Chief Financial Officer. Today's call will include forward-looking statements, including statements regarding the expected release and benefit of our product offerings and our expectation for revenue to be generated by those offerings, our retention and expansion opportunities, our expectation for our financial outlook, including our FY '27 full year guidance, strategic plans, including with respect to current or future M&A activity, our market position and growth opportunities and our capital allocation, including our stock repurchase program, among other items. Forward-looking statements include risks, uncertainties and assumptions that may cause our actual results to be materially different from those expressed or implied by the forward-looking statements. Please refer to our filings with the SEC, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q for additional information on risks, uncertainties and assumptions that may cause actual results to differ materially from those set forth in such statements. In addition, during today's call, we will discuss non-GAAP financial measures. These non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. Reconciliation between GAAP and non-GAAP financial measures and a discussion of the limitations of using non-GAAP measures versus the closest GAAP equivalents are available in our earnings release, which is posted on our Investor Relations web page at investors.asana.com. And with that, I'd like to turn the call over to Dan.
Daniel Rogers: We delivered a strong start to the year with revenue of $205.1 million, up 9.5% year-over-year and above the high end of our guidance. We also exceeded expectations on profitability, with non-GAAP operating margin expanding up to 11.5%, up 720 basis points year-over-year. This reflects continued progress in driving both growth and operating efficiency across the business. Importantly, we're seeing positive trends across customer retention, expansion and AI product adoption. We believe these are encouraging indicators of improving business health. One of the clearest indicators of this progress is net retention rate, or NRR. Our reported rolling 4-quarter NRRs improved across all cohorts, while overall in-quarter NRR improved for the fourth consecutive quarter to …