Asana 2026 Q3 Earnings Beats Estimates, AI Teammates Drive Momentum

Asana (ASAN) reported Q3 2026 earnings with revenue of $201.03 million, surpassing estimates by $2.22 million, and raised FY26 guidance to $789–$791 million. The company highlighted AI Teammates as a strategic innovation, with CEO Dan Rogers emphasizing early customer traction in productivity gains.

Revenue

Total revenue grew 9.3% year-over-year to $201.03 million, exceeding expectations. The core customer base (spending $5,000+ annually) expanded to 25,413, driving 10% revenue growth from this segment. The $100,000+ cohort grew 15% to 785 customers, contributing 76% of total revenue. Dollar-based net retention rate (NRR) improved to 96%, with core customer NRR at 97%.

Earnings/Net Income

Asana’s losses widened to $0.29 per share in Q3 2026, a 16% increase in loss per share compared to Q3 2025. The net loss expanded to $68.43 million, a 19.4% rise year-over-year. Despite raising guidance, the EPS reflects a deepening loss, with net income turning negative at -$68.43 million.

Price Action

The stock climbed 3.56% in the latest trading day and 9.75% in the past week, though it edged down 2.12% month-to-date.

Post-Earnings Price Action Review

A strategy of purchasing ASAN after earnings outperformed expectations and selling after 30 days resulted in a significant loss, with a return of -38.66% compared to the benchmark’s 86.80%. This generated an excess return of -125.46%, while the strategy’s Sharpe ratio of -0.20 underscored its high risk and negative performance.

CEO Commentary

CEO Dan Rogers highlighted a “solid quarter” driven by improved NRR and AI Studio momentum. The launch of AI Teammates, with 12 pre-built agents across departments, was positioned as a strategic innovation. Rogers emphasized long-term potential in the Agentic Enterprise and ongoing AI investments.

Guidance

Asana raised FY26 revenue guidance to $789–$791 million (9% YoY growth) and non-GAAP operating income to $52.5–$54.5 million. Q4 guidance includes revenue of $204–$206 million and non-GAAP net income per share of $0.07.

Additional News

Asana announced leadership changes, including COO Anne Raimondi and General Counsel Eleanor Lacey resigning effective December 31, 2025. Katie Colendich was appointed General Counsel, with a $500,000 base salary and performance-linked equity. The company also launched AI Teammates, with general availability expected early next year, and repurchased $30.8 million in shares at $14.10 per share.