Asana raises annual revenue outlook after Q2 beat on AI-integration momentum

Asana

03/09/2026 21:22

Overview
U.S. work management software firm's fiscal Q2 revenue grew 10%, beating analyst expectations
Adjusted EPS for fiscal Q2 beat analyst expectations
Company raised full-year revenue and margin guidance, citing AI product momentum

Outlook
Asana raises full-year revenue guidance to $858.5 mln-$863.5 mln, up 9% year over year
Company sees Q3 revenue of $217 mln-$219 mln, up 8%-9% from a year earlier
Asana expects to build consumption- and outcome-based revenue streams alongside seats

Result Drivers
CUSTOMER RETENTION - Dollar-based net retention improved in every reported cohort, with overall net retention rate of 97%
UPMARKET GROWTH - Accelerating growth in upmarket segment and increased number of large enterprise customers, per CEO Dan Rogers
AI PRODUCT ENGAGEMENT - Strong momentum and deeper engagement among customers using AI Studio and AI Teammates, according to CEO Dan Rogers

Company press release: ID:nBwM0SCa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$216.40 mln
$214.12 mln (13 Analysts)
Q2 Adjusted EPS
Beat
$0.10
$0.09 (14 Analysts)
Q2 Loss Per Share
 
$0.17
 
Q2 Adjusted Net Income
Beat
$23.80 mln
$20.72 mln (12 Analysts)
Q2 Adjusted operating income
Beat
$21.80 mln
$19.21 mln (13 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy."
Wall Street's median 12-month price target for Asana, Inc. is $8.41, about 14.2% below its September 2 closing price of $9.80
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 19 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)