Asana's Q2 2026 Revenues Grow by 10%

By Philip Seaworth • Thursday, September 04 06:08 • Permanent Link

Asana, Inc. has released its financial results for the second quarter of fiscal year 2026, ended July 31, 2025. The company reported revenues of $196.9 million, marking a 10% increase from the previous year. Notably, Asana's GAAP operating margin improved by 18 percentage points year over year, and its non-GAAP operating margin saw a 16 percentage point improvement compared to the second quarter of fiscal 2025.

In terms of customer growth, the number of core customers, defined as those spending $5,000 or more on an annualized basis, increased to 25,006, a 9% year-over-year growth. Additionally, the number of customers spending $100,000 or more annually grew to 770, showing a 19% increase from the previous year.

Asana's financial performance also saw improvements in net retention rates. The overall dollar-based net retention rate for the second quarter was reported at 96%, while the dollar-based net retention rate for core customers and those spending $100,000 or more annually stood at 96% and 95%, respectively.

Further, the company's cash flows from operating activities were $39.8 million, compared to $15.9 million in the second quarter of fiscal 2025. Adjusted free cash flow also increased to $35.4 million from $12.8 million in the same period the previous year.

As part of its business highlights, Asana appointed Dan Rogers as the Chief Executive Officer and launched the new smart workflow gallery, which includes prebuilt, AI-powered workflows aimed at enhancing employee productivity. The company also made strides in expanding its market reach, including being available in the AI agents and tools storefront in the AWS Marketplace and expanding its partnership with Mastercard to offer small businesses access to Asana at a discounted rate.

Looking ahead, for the third quarter of fiscal 2026, Asana expects revenues of $197.5 million to $199.5 million, representing year-over-year growth of 7.4% to 8.5%. For the full fiscal year 2026, the company anticipates revenues of $780.0 million to $790.0 million, reflecting year-over-year growth of 8% to 9%.

These figures illustrate Asana's continued growth and financial improvements, underlining its position as a leading work management platform. Today the company's shares have moved 0.97% to a price of $14.0557. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.