Asana, Inc. (ASAN) Q2 FY2027 earnings

Reported results

• Revenues of $216.4 million, up 10% year-over-year, exceeded high end of guidance
• GAAP operating loss of $41.2 million (19% of revenues) vs. GAAP operating loss of $49.5 million (25% of revenues) in Q2 FY2026; GAAP operating margin improved approximately 610 basis points
• Non-GAAP operating income of $21.8 million (10% of revenues) vs. non-GAAP operating income of $14.0 million (7% of revenues) in Q2 FY2026; non-GAAP operating margin expanded approximately 300 basis points
• GAAP net loss of $39.2 million, or $0.17 per share, vs. GAAP net loss of $48.4 million, or $0.20 per share, in Q2 FY2026
• Non-GAAP net income of $23.8 million, or $0.10 per diluted share, vs. non-GAAP net income of $15.1 million, or $0.06 per diluted share, in Q2 FY2026
• Overall dollar-based net retention rate of 97%; Core customer dollar-based net retention rate of 98%; $100,000+ customer dollar-based net retention rate of 98%

Guidance

• Q3 FY2027 revenues of $217 million to $219 million, representing 8% to 9% year-over-year growth
• Q3 FY2027 non-GAAP operating income of $18 million to $19 million, with 8% to 9% non-GAAP operating margin
• Q3 FY2027 non-GAAP net income per share of $0.08, assuming diluted weighted average shares outstanding of approximately 236 million
• FY2027 revenues of $858.5 million to $863.5 million, representing 9% year-over-year growth
• FY2027 non-GAAP operating income of $84.5 million to $86.5 million, with approximately 10% non-GAAP operating margin
• FY2027 non-GAAP net income per share of $0.37, assuming diluted weighted average shares outstanding of approximately 239 million

Notes

Asana raised full-year revenue and non-GAAP operating margin guidance. The company began excluding amortization of stock-based compensation capitalized in internal-use software from non-GAAP measures starting Q2 FY2027, presented prospectively. Core customers are defined as those spending $5,000 or more on an annualized basis; 26,778 Core customers grew 7% year-over-year. Customers spending $100,000+ grew to 890, up 16% year-over-year.

Price and volatility reaction

The stock moved -12.7% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -30.0 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-03 (8-K, Item 2.02). Read the original filing on sec.gov.