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Jul 31, 2025
Asana Q2 2026 Earnings Report
Asana delivered strong Q2 FY2026 results, achieving revenue above guidance and returning to non-GAAP profitability.
Key Takeaways
In Q2 FY2026, Asana exceeded revenue expectations, significantly improved its operating margins, and reported non-GAAP net income, reflecting solid execution and momentum from its AI initiatives.
Revenue reached $196.9M, up 10% YoY.
GAAP Net Loss narrowed to $48.4M from $72.2M YoY.
Non-GAAP EPS turned positive at $0.06 vs. loss of $0.05 YoY.
Free cash flow rose to $35.4M, nearly tripling YoY.
Revenue by Geographic Location
Forward Guidance
Asana expects continued revenue growth and sustained profitability in Q3 FY2026, backed by AI innovation and expanding customer adoption.
Positive Outlook
- Revenue guidance of $197.5M–$199.5M for Q3 FY26.
- Non-GAAP EPS expected between $0.06 and $0.07.
- Raised FY26 revenue guidance to $780M–$790M.
- FY26 non-GAAP operating margin guided at 6%.
- AI Studio and Smart Workflow Gallery driving expansion.
Challenges Ahead
- GAAP net losses expected to continue near term.
- Uncertainty in broader macroeconomic environment.
- Lower net retention among large enterprise customers.
- Free cash flow guidance not provided explicitly.
- Potential variability in stock-based compensation expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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