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Apr 30, 2025
Asana Q1 2026 Earnings Report
Asana reported its first-ever non-GAAP operating profit and surpassed $1M ARR for AI Studio in Q1 FY2026.
Key Takeaways
Asana delivered better-than-expected Q1 results, achieving its first non-GAAP operating income. Revenue grew modestly, and the company made significant strides in AI, launching a new product with rapid customer adoption.
Forward Guidance
Asana expects continued growth driven by AI investments and efficiency, raising its full-year non-GAAP operating margin outlook.
Positive Outlook
- Raised full-year non-GAAP operating margin guidance to at least 5.5%
- Q2 revenue guidance of $192M to $194M
- Forecasted Q2 non-GAAP operating income of $8M to $10M
- Expected Q2 non-GAAP EPS of $0.04 to $0.05
- Confidence in durable, profitable growth despite macro uncertainty
Challenges Ahead
- Continued GAAP net losses expected in upcoming quarters
- Operating lease liabilities remain high at $221M
- Revenue growth forecast for Q2 only 7–8% YoY
- Deferred revenue declined slightly compared to previous quarter
- Stock-based compensation remains a significant recurring cost
Historical Earnings Impact
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Avg. Return Before/After Earnings
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