| Metric | Value ($ M) | Q1 FY27 | Q2 FY26 |
|---|---|---|---|
| Revenue | 216.43 | 5.5% | 9.9% |
| Total Income | 216.43 | 5.5% | 9.9% |
| Expenditure | 257.65 | 16.9% | 4.6% |
| PBT | -39.95 | 207.5% | 14.9% |
| Net Profit | -39.19 | 172.0% | 19.0% |
| OPM | -19.05% | 11.61pp | 6.07pp |
| NPM | -18.11% | 11.08pp | 6.45pp |
| EPS | -0.17 | 183.3% | 15.0% |
Asana Announces Q2 FY27 Results, Revenue Up 10% YoY to $216.4M
04 Sept 2026 · 1d ago, 1:58 am
Summary
Asana reported second quarter fiscal 2027 revenue of $216.4 million, a 10% increase year over year, surpassing guidance. The company saw improvements in its dollar-based net retention rate, reaching 97% overall, and significant year-over-year improvements in both GAAP and non-GAAP operating margins. Management expressed optimism about the core business strengthening, accelerating upmarket growth, and strong momentum in AI products, with the upcoming launch of Agentic Work Management expected to further enhance customer engagement and expand growth opportunities.
Key Highlights
- 1
Q2 revenue of $216.4 million increased by 10% year over year, exceeding the high end of guidance.
- 2
Dollar-based net retention improved across all reported cohorts, resulting in an overall Net Retention Rate (NRR) of 97%.
- 3
Q2 GAAP operating margin improved by approximately 610 basis points year over year.
- 4
Non-GAAP operating margin for Q2 was 10%, an increase of approximately 300 basis points.
- 5
Agentic Work Management, including AI Teammates and Asana Dash, is set to launch in Q3 across all paid tiers.
- 6
The number of Core customers (spending $5,000+ annually) grew 7% year over year to 26,778.
- 7
Customers spending $100,000 or more annually increased by 16% year over year to 890.
Management Comments
Dan Rogers
Our core business continues to strengthen, with improving retention, accelerating growth in our upmarket motion and broad-based momentum across industries and geographies. We’re also seeing strong momentum across our AI products, with customers who put AI Studio and AI Teammates to work across critical business workflows engaging more deeply, retaining better and expanding faster. With Agentic Work Management, we’re bringing those capabilities to every paid customer, enabling people and AI agents to work together from the same plan and shared context. Our new Agentic Applications extend that same foundation into new workflows and buying centers.
Aziz Megji
Q2 revenue exceeded the high end of our guidance and grew 10% year over year, and non-GAAP operating margin expanded approximately 3 percentage points to 10%. We are raising our full-year revenue and non-GAAP operating margin guidance. As our product strategy evolves, we see a meaningful opportunity to build consumption- and outcome-based revenue streams alongside seats, giving us multiple ways to expand with our customers and broadening our long-term growth opportunity.
Informational and educational content only. Not investment advice.