Asana 2026 Q3 Earnings Widening Losses Amid 9.3% Revenue Growth

Asana (ASAN) reported fiscal 2026 Q3 results on Dec 2, 2025, with revenue rising 9.3% year-over-year to $201.03 million, surpassing estimates. The company raised full-year revenue guidance to $789–$791 million and non-GAAP operating income forecasts, despite a 19.4% increase in net losses to $68.43 million.

Revenue

Total revenue grew to $201.03 million in 2026 Q3, a 9.3% increase from $183.88 million in the prior-year period. This growth reflects continued adoption of Asana’s AI-driven tools and improved customer retention.

Earnings/Net Income

Asana’s losses deepened to $0.29 per share in 2026 Q3, worsening by 16.0% from $0.25 per share in 2025 Q3. Net losses expanded to $-68.43 million, a 19.4% increase from $-57.33 million. The company has posted losses for seven consecutive years in this quarter, underscoring persistent financial challenges. The EPS decline and widening net loss indicate ongoing profitability challenges despite revenue growth.

Price Action

Asana’s stock rose 3.56% on the latest trading day and gained 9.75% for the week, though it fell 2.12% month-to-date.

Post-Earnings Price Action Review

The strategy of buying ASAN when earnings beat expectations and selling after 30 days resulted in a significant loss, with a return of -38.66% compared to a benchmark return of 86.80%, yielding an excess return of -125.46%. The strategy’s maximum drawdown of 0.00% and a Sharpe ratio of -0.20 highlight its high risk and negative returns, raising questions about the reliability of post-earnings trading signals for the stock.

CEO Commentary

CEO Dan Rogers emphasized progress in net retention rate (NRR) and AI innovation, including the launch of AI Teammates, which he described as delivering “meaningful productivity gains.” Strategic priorities include accelerating AI development and improving operational efficiency, with confidence in long-term margin expansion.

Guidance

Asana raised FY26 revenue guidance to $789.0M–$791.0M (9% year-over-year growth) and non-GAAP operating income to $52.5M–$54.5M (7% margin). Q4 guidance includes revenue of $204.0M–$206.0M (8%–9% growth) and non-GAAP operating income of $14.0M–$16.0M (7%–8% margin).

Additional News

Asana announced the resignation of COO Anne Raimondi and General Counsel Eleanor Lacey, effective Dec 31, 2025, with both transitioning to advisory roles until March 2026. Katie Colendich was appointed General Counsel, receiving a $500,000 base salary and equity tied to performance goals. The company also unveiled AI Teammates, general availability expected early 2026, and highlighted a 12-month high in monthly customer retention.

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