Asana (ASAN) ASAN Q2 Financial Results Summary

# Asana, Inc. (ASAN) Q2 2026 Financial Results Summary

**Release Date: September 3, 2025**

Asana, Inc. (NYSE: ASAN), a work management platform focusing on human and AI collaboration, has announced its financial results for the second quarter of fiscal 2026, which ended on July 31, 2025. Below is a summary of key financial metrics and business highlights.

## Q2 2026 Financial Highlights

– **Revenues**:
– Total revenues reached **$196.9 million**, a **10% increase** year over year.

– **Operating Income/Loss**:
– **GAAP operating loss** was **$49.5 million**, constituting **25% of revenues**, a significant improvement from a **GAAP operating loss of $76.8 million** (43% of revenues) in Q2 2025.
– **Non-GAAP operating income** stood at **$14.0 million**, or **7% of revenues**, compared to a **non-GAAP operating loss of $15.7 million** (9% of revenues) the previous year.

– **Net Income/Loss**:
– **GAAP net loss** was **$48.4 million**, improved from a **net loss of $72.2 million** in the same quarter last year.
– **GAAP net loss per share** was **$0.20**, compared to **$0.31** in Q2 2025.
– **Non-GAAP net income** was **$15.1 million**, an improvement from a **non-GAAP net loss of $11.1 million** in the previous year.
– **Non-GAAP net income per share** amounted to **$0.06**, recovering from **$0.05 loss** per share in Q2 2025.

– **Cash Flow**:
– Cash flows from operating activities totaled **$39.8 million**, compared to **$15.9 million** in Q2 2025.
– Adjusted free cash flow was **$35.4 million**, rising from **$12.8 million** year over year.

## Business Highlights

– **Core Customers**:
– The number of Core customers (spending $5,000 or more annually) reached **25,006**, marking a **9% increase** from last year.
– Revenue from Core customers grew by **12%** year over year.

– **High-Value Customers**:
– Customers spending $100,000 or more annually increased to **770**, representing a **19% growth** compared to the previous year.

– **Net Retention Rates**:
– Overall dollar-based net retention rate for Q2 was **96%**.
– Dollar-based net retention rate for Core customers was also **96%**.
– For customers spending $100,000 or more annually, the retention rate was **95%**.

## Leadership and Product Developments

– **CEO Appointment**:
– Dan Rogers was appointed as Chief Executive Officer, leading Asana towards innovation and growth.

– **Product Launches**:
– Introduced a the **Smart Workflow Gallery**, a set of prebuilt, AI-powered workflows.

– **Compliance Designation**:
– Achieved **FedRAMP ‘In Process’ Designation**, affirming commitment to secure collaboration for public sector and regulated industries.

– **Marketplace Expansion**:
– Announced availability in the AWS Marketplace, enhancing accessibility for AWS customers.

– **Partnerships**:
– Expanded collaboration with Mastercard, providing discounts for small businesses.

– **Sustainability Initiatives**:
– Released the FY25 ESG report, illustrating sustainable business practices.

## Financial Outlook

– **Q3 Fiscal 2026 Expectations**:
– Forecasting revenues between **$197.5 million and $199.5 million**, reflecting **7.4% to 8.5%** year-over-year growth.
– Anticipated non-GAAP operating income between **$12.0 million and $14.0 million**, with projected margins of **6% to 7%**.
– Expected non-GAAP net income per share to be between **$0.06 to $0.07**.

– **Full Fiscal Year 2026**:
– Anticipated revenues are between **$780.0 million and $790.0 million**, indicating **8% to 9% growth**.
– Projected non-GAAP operating income forecasted to be between **$46.0 million and $50.0 million**, at an operating margin of **6%**.
– Expected non-GAAP net income per share of **$0.23 to $0.25**.

## Share Repurchase

– Asana reported **share repurchases** amounting to **$28.9 million** during Q2 2026, an increase from **$19.0 million** in Q2 2025.

This financial results summary provides a snapshot of Asana’s growth, enhancing key operational metrics amidst a challenging economic backdrop. Further updates will be available as Asana continues to engage with investors through upcoming conference calls and investor relations platforms.