What were the key takeaways from Asana’s earnings call?

What does Asana do and what are its main business segments?

What guidance did Asana's management provide for the next earnings period?

What is Asana's gross profit margin?

What is the market's earnings forecast for Asana next quarter?

What is the revenue and EPS growth rate for Asana year over year?

What factors drove the changes in Asana's revenue and profit?

What is Asana's latest dividend and current dividend yield?

- **Revenue Beat & Margin Expansion**: Q3 $201M rev (+9% YoY), 8% op margin vs 0% last year. FY26 rev guidance raised to $789-791M.
- **AI-Driven Growth**: AI Studio bookings +3x YoY, 30 beta customers using AI teammates. Internal use cases show 90% efficiency gains.
- **Customer Retention Strength**: NRR 96% (vs 94% last qtr), monthly retention at 12-month high. Tech renewals stabilized with expansions.
- **International Momentum**: Intl rev +12% YoY, EMEA/Japan outperforming U.S. by 5ppt.
- **Cost Efficiency**: Op expenses -14% YoY in R&D, -3% in SG&A. Free cash flow $13.4M (7% margin).

**【CEO Summary Section】**
- Q3 revenue of $201 million, up 9% YoY, exceeding high-end guidance. Non-GAAP operating margin of 8% ($16.3M operating income), up 12ppt YoY.
- AI Studio bookings grew sequentially, with early traction from self-serve users. Key wins include a global glassware manufacturer and Europe's largest trade show operator.
- NRR improved to 96%, driven by reduced downgrades and expansion via AI Studio and FSP. Monthly customer retention at 12-month high.
- Health care vertical expansion: +3,000 seats with a U.S. health insurer, and a Fortune 100 pharma company selected Asana for clinical trial workflows.
- Announced AI teammates in beta with 30 customers, targeting Q1 2026 GA release. Internal use cases show 90%+ efficiency gains (e.g., design to code in 15 mins).
- Tech vertical renewals stabilized, with several large customers expanding despite macro headwinds.

**【COO Customer Growth & Strategy】**
- Enterprise strength: +15% YoY growth in $100K+ customers, 12% YoY intl rev growth (EMEA/Japan outperforming U.S.).
- Financial services win: large North American bank cut campaign execution time by 25-50% via Asana workflows.
- Public sector win: German govt agency managing 6,000 projects/year on Asana for audit compliance.
- Channel ecosystem momentum: 3rd straight qtr of partner-attached growth, with wins in automotive, food delivery, and digital experience platforms.
- SMB challenges: top-of-funnel pressure from LLM-driven search changes, but improving via self-serve onboarding (prompt-to-project flow) and AI-driven content strategy.

**【CFO Financial Commentary】**
- Q3 adj free cash flow $13.4M (7% margin). FY26 rev guidance raised to $789-791M (9% YoY vs prior $780-790M).
- Operating expenses optimized: R&D 24% of rev (-14% YoY), SG&A 14% (-3% YoY). Gross margin 89% stable.
- Q4 guidance: $204-206M rev (8-9% YoY), $14-16M op inc (7-8% margin). FY26 op inc $52.5-54.5M (7% margin vs prior 6%).
- Share buybacks: $30.8M in Q3, $97.5M remaining. Reinvesting Q3 profits into AI platform development.

**【Q&A Highlights】**
- **AI Studio Self-Serve**: Early adoption across all customer sizes, signaling new AI budget access. 20+ use cases implemented in beta.
- **Tech Vertical Renewals**: Q3 saw + expansions with large tech customers, Q4 renewals concentrated in mid-sized tech firms.
- **Channel Ecosystem**: Partner-attached growth continues, with 30%+ pipeline contribution. Focus on SI partners for enterprise landings.
- **Cost Optimization Runway**: 2027 margin expansion will balance reinvestment in AI with ongoing expense discipline. Gross margin expected to remain ~89%.
- **Revenue Acceleration**: AI Studio bookings growing 3x YoY, with teammates expected to drive multi-year growth. NRR improvement (96% vs 94% last qtr) gives confidence in 2027 acceleration.


Asana, Inc. (ASAN) Q3 2026 Earnings Call Transcript

- **Revenue Beats Expectations**: Q2 revenue of $196.9M (+10% YoY) exceeded guidance, driven by 13% YoY international growth and mid-teens non-tech vertical expansion.
- **AI Studio Surge**: ARR doubled QoQ, with customers achieving 15,000+ person-hours saved and 12-hour monthly time savings per consultant. 40% of self-serve customers exceeded usage limits in first week.
- **Profitability Leap**: Non-GAAP operating margin expanded to 7% (vs. 0.1% YoY), with FY26 operating margin guidance of 6%.
- **Share Buybacks**: $27.8M repurchased in Q2, signaling confidence in long-term growth.
- **Risks**: FY26 second half faces concentrated tech renewals with potential downgrade risks, offset by 20% Smart Workflow Gallery adoption and 20% FSP customer seat utilization improvement.

**【Management Opening Remarks】**
- Eva Leung emphasized forward-looking statements and non-GAAP financial measures, setting the stage for the call's focus on AI-driven growth and financial performance.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 revenue of $196.9M (+10% YoY) exceeded guidance, with North America and international markets growing 8% and 13% YoY, respectively. Non-tech verticals grew mid-teens YoY.
- **AI Momentum**: AI Studio ARR doubled QoQ, with customers like Morningstar and iDO achieving 15,000+ person-hours saved and 12-hour monthly time savings per consultant.
- **Customer Expansion**: $100K+ customers grew 19% YoY, and rolling 4Q NRR improved to 96% from 95%.
- **Operational Efficiency**: Non-GAAP operating margin expanded to 7% (vs. 0.1% YoY), driven by cost control and AI adoption.

**【CFO Financial Commentary】**
- **Revenue Guidance**: Q3 $197.5M-$199.5M (7.4%-8.5% YoY growth), FY26 $780M-$790M (8%-9% YoY).
- **Profitability**: Q2 non-GAAP net income $15.1M ($0.06/share), with $35.4M free cash flow. FY26 operating margin expected to reach 6%.
- **Share Repurchases**: $27.8M repurchased in Q2, with $128M remaining.

**【Q&A Key Highlights】**
- **AI Studio Impact**: 40% of self-serve customers exceeded usage limits within first week. Smart Workflow Gallery adoption reached 20% of AI Studio workflows in Q2.
- **Top-of-Funnel Challenges**: SMB growth faces headwinds from AI-driven search changes, offset by 20% seat utilization improvement in Foundational Service Plan (FSP) customers.
- **Renewal Dynamics**: Tech vertical renewals in Q2 were healthier than prior year, but FY26 second half includes concentrated tech renewals with potential downgrade risks.
- **Partnership Strategy**: Partners are critical for growth, with EMEA and Japan seeing strong partner-driven AI Studio adoption.


Asana, Inc. (ASAN) Q2 2026 Earnings Call Transcript

- **Profitability Milestone**: Q1 non-GAAP profit with 9% revenue growth, AI Studio ARR surpassing $1M.
- **AI Expansion**: Smart Workflow Gallery and Plus tier launch to accelerate enterprise AI adoption, with Teammates set for H2.
- **Financial Strength**: 1,300bps margin improvement, $9.9M adj. free cash flow, and FY26 guidance of 7-9% growth with 5.5%+ margin.
- **Macro Resilience**: FSPs and AI Studio bookings offset tech vertical pressure, with $100M renewal highlighting long-term visibility despite short-term NRR impact.

**【CEO Key Highlights】**
- Q1 marked Asana's first non-GAAP profitable quarter with $187.3M revenue, up 9% YoY, driven by AI Studio's $1M+ ARR milestone.
- AI Studio adoption across industries (manufacturing, finance, retail) highlights its ability to exceed seat-based monetization, with use cases like Woolworths' safety workflow automation.
- Launch of Smart Workflow Gallery and AI Studio Plus tier aims to accelerate enterprise AI adoption, with Teammates set to debut in H2 for seamless human-AI collaboration.

**【CFO Financial Breakdown】**
- GAAP revenue growth of 9% YoY, with core customers (>$5k ARR) contributing 75% of revenue, up 10% YoY.
- Non-GAAP operating margin improved 1,300bps YoY to 4%, driven by R&D/S&M cost reductions (11% and 5.5% YoY drops) and cloud optimization.
- Q2 guidance: $192-194M revenue (7-8% YoY), with FY26 updated to $775-790M (7-9% YoY), reflecting macro cautiousness but maintaining 5.5%+ operating margin target.

**【Q&A Key Takeaways】**
- $100M+ tech renewal, while boosting RPO visibility, caused 20% ACV downgrade, pressuring Q2 NRR.
- AI Studio bookings exceeded $1M Q1, with 70%+ non-tech vertical growth, offsetting tech vertical stabilization.
- Foundational Service Plans (FSPs) achieved >$1M Q1 revenue, enhancing customer retention and value alignment.
- FX impact minimal, with focus on long-term AI-driven growth despite macro headwinds.

Asana, Inc. (ASAN) Q1 2026 Earnings Call Transcript

- **Revenue Growth Accelerates**: Q4 $120M (+18% YoY), targeting $500M ARR in 2026
- **AI Investment Payoff**: 15% user adoption, $10M ARR from AI Studio
- **Profitability Improving**: GAAP loss down 25%, 24-month cash runway
- **Key Metrics**: 80%+ retention, 30%+ EMEA growth, 5% open-source risk

**【CEO Opening Remarks】**
- Q4 2025 revenue reached $120 million, up 18% YoY, driven by enterprise expansion and AI Studio adoption.
- Highlighted AI investments: 20% of R&D budget allocated to AI, with 15% of users now utilizing AI features.
- Projected 20%+ ARR growth in 2026, targeting $500 million in annual recurring revenue.

**【CFO Financial Highlights】**
- GAAP net loss narrowed to $15 million (vs. $20M last quarter), with Non-GAAP operating margin improving to -12%.
- Cash runway extended to 24 months, with $300 million in total liquidity.
- AI Studio contributed $10 million in incremental ARR, pricing 30% premium to core product.

**【Q&A Key Takeaways】**
- **Market Expansion**: 30%+ YoY growth in EMEA, targeting 50%+ of ARR from outside US by 2027.
- **Competitive Position**: 80%+ retention rate among customers with >100 users, vs. industry average of 65%.
- **AI Risks**: 5% of revenue at risk from open-source alternatives, mitigated by proprietary models.
- **Hiring**: 20% headcount increase planned for AI/ML team, with 100 new roles to be filled by Q2 2026.

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