Asana 2026 Q3 Earnings Revenue Up 9.3% as Guidance Raised on AI Momentum

Asana (ASAN) reported Q3 2026 earnings, surpassing revenue and EPS expectations while raising full-year guidance. The company highlighted progress in AI Studio and AI Teammates, with CEO Dan Rogers emphasizing "meaningful productivity gains" from early customer feedback. Despite a widened net loss, management expressed confidence in long-term growth driven by AI innovation and operational improvements.

Revenue

Asana’s total revenue rose 9.3% year-over-year to $201.03 million in Q3 2026, exceeding the $198.83 million consensus. This growth outpaced the 9.9% increase in the prior-year quarter and reflects strong performance across core customer segments. The company’s $100,000+ cohort grew 15% to 785 customers, while dollar-based net retention rate (NRR) reached 96%, marking consecutive quarters of improvement.

Earnings/Net Income

The company’s losses widened to $0.29 per share in Q3 2026, compared to a $0.25 loss in the prior-year period. Net loss expanded to $68.43 million, a 19.4% increase from $57.33 million in 2025 Q3. While the CEO acknowledged ongoing financial challenges, the CFO noted improved GAAP and non-GAAP operating margins, driven by disciplined cost management and revenue growth.

Price Action

Asana’s stock surged 3.21% in extended trading following the earnings release, with shares up 9.75% for the week. However, the stock edged down 2.12% month-to-date, reflecting mixed investor sentiment amid broader market volatility.

Post-Earnings Price Action Review

A strategy of buying Asana shares after revenue growth quarters and holding for 30 days underperformed significantly over three years. The approach delivered a -10.53% CAGR and -28.15% total return, with a Sharpe ratio of -0.16, indicating poor risk-adjusted returns. The maximum drawdown of 0.00% underscored the strategy’s lack of gains during the backtest period.

CEO Commentary

CEO Dan Rogers described the quarter as “solid,” highlighting AI Studio’s momentum and early traction with AI Teammates. CFO Sonalee Parekh noted Q3 revenue exceeded high-end guidance, with year-to-date GAAP operating margin up 10 percentage points and non-GAAP up 14 percentage points. Leadership emphasized AI-driven productivity and operational execution as key growth drivers.

Guidance

Asana raised FY2026 revenue guidance to $789.0M–$791.0M (9% YoY growth) and non-GAAP operating income to $52.5M–$54.5M (7% margin). Q4 revenue is expected at $204.0M–$206.0M (8%–9% YoY), with non-GAAP operating income of $14.0M–$16.0M (7%–8% margin).

Additional News

Asana announced leadership changes, with COO Anne Raimondi and General Counsel Eleanor Lacey resigning effective December 31, 2025. Both will transition to advisory roles until March 31, 2026. Katie Colendich was appointed General Counsel and Corporate Secretary, receiving a $500,000 base salary, RSUs, and performance-based PSUs tied to multi-year goals. The company also outlined a $30.8 million share repurchase program, reflecting confidence in its long-term value.

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