Asana Inc's Q3 2025 Earnings: AI Studio and Non-Tech Growth

Asana Inc's Q3 2025 earnings call revealed a strategic pivot towards becoming a multi-product company, driven by the successful launch of AI Studio and targeted investments in non-tech verticals. This balanced approach to growth, combined with a focus on operational efficiency, positions Asana for long-term success in the competitive project management software market.

Asana's AI Studio launch signals a transformative moment, opening new use cases and driving expansion across diverse sectors. CEO Dustin Moskovitz noted that AI Studio could help unstick sales cycles and drive both AI Studio sales and seat expansions. With AI Studio's growth potential expected to mitigate upsell challenges and improve net retention rates, Asana's competitive position is bolstered by this strategic move.



Targeted investments in non-tech verticals, such as manufacturing, retail, healthcare, and energy, have driven non-tech growth and contributed to overall business stabilization. These efforts have led to deeper relationships with larger enterprises and cascading benefits into the mid-market, enabling Asana to expand its customer base and use cases.

COO Anne Raimondi highlighted that investments in these strategic areas have yielded significant results, with non-tech verticals growing faster than overall growth at 15% year over year and accounting for over two-thirds of the business. By investing in these verticals, Asana can enhance its customer base, expand use cases, and drive operational efficiency, ultimately contributing to margin expansion and improved net retention rates.



Asana's commitment to driving operational efficiency and margin expansion is evident in its focus on sales and marketing productivity, R&D, and G&A. The company aims to achieve significant margin expansion by leveraging AI Studio, optimizing targeted investments, and implementing process improvements across key areas.

In conclusion, Asana Inc's Q3 2025 earnings call demonstrates a balanced approach to growth and efficiency, with a strategic emphasis on AI Studio and targeted non-tech verticals. Asana's ability to capitalize on these opportunities and implement operational improvements will be crucial in maintaining a strong competitive position and driving long-term growth in the project management software market.