Asana Inc【ASAN】株式ニュース

Asana Announces First Quarter Fiscal 2027 ResultsMay 28, 2026 4:05 PM
Business Wire Q1 revenue exceeded high end of guidance
Record Q1 GAAP operating margin, up 1,600 bps year over year; record non-GAAP operating margin of 11.5%, up 720 bps year over year
Announces acquisition of StackAI, expanding Asana’s cross-system workflow orchestration capabilities for human-agent teams Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), the operating system for human-agent teams, today reported financial results for its first quarter fiscal 2027 ended April 30, 2026. “Asana is the operating system for human-agent teams,” said Dan Rogers, Chief Executive Officer of Asana. “We believe the real enterprise productivity unlock from AI comes when humans and agents work together across the critical workflows that run the business. Customers are increasingly using AI Studio and AI Teammates to coordinate work faster, automate complex processes, and embed AI more deeply into their operations. The addition of StackAI strengthens our position as the operating system for human-agent teams by enabling customers to coordinate complex, cross-system workflows across humans and AI agents.” “We exceeded the high end of our guided metrics and improved NRR for the fourth consecutive quarter,” said Aziz Megji, Chief Financial Officer of Asana. “The business continues to show improving fundamentals, supported by momentum in AI product adoption, customer expansion, and operating efficiency. The acquisition of StackAI further differentiates our operating system for human-agent teams and reinforces our confidence in Asana’s long-term growth and profitability potential.” First Quarter Fiscal 2027 Financial Highlights Revenues: Revenues were $205.1 million, an increase of 9.5% year over year. Operating Income/Loss: GAAP operating loss was $15.2 million, or 7% of revenues, compared to GAAP operating loss of $43.9 million, or 23% of revenues, in the first quarter of fiscal 2026. Non-GAAP operating income was $23.6 million, or 11.5% of revenues, compared to non-GAAP operating income of $8.1 million, or 4% of revenues, in the first quarter of fiscal 2026. Net Income/Loss: GAAP net loss was $14.4 million, compared to GAAP net loss of $40.0 million in the first quarter of fiscal 2026. GAAP net loss per share was $0.06, compared to GAAP net loss per share of $0.17 in the first quarter of fiscal 2026. Non-GAAP net income was $24.4 million, compared to non-GAAP net income of $12.0 million in the first quarter of fiscal 2026. Non-GAAP diluted net income per share was $0.10, compared to non-GAAP diluted net income per share of $0.05 in the first quarter of fiscal 2026. Cash Flow: Cash flows from operating activities were $40.2 million, compared to $6.8 million in the first quarter of fiscal 2026. Adjusted free cash flow was $34.4 million, compared to $9.9 million in the first quarter of fiscal 2026. First Quarter Fiscal 2027 Business Highlights The number of Core customers, or customers spending $5,000 or more on an annualized basis, grew to 26,103, an increase of 7% year over year. Revenues from Core customers grew 10% year over year. The number of customers spending $100,000 or more on an annualized basis grew to 817, an increase of 12% year over year. Overall dollar-based net retention rate was 96%. Dollar-based net retention rate for Core customers was 97%. Dollar-based net retention rate for customers spending $100,000 or more on an annualized basis was 96%. Appointed Aziz Megji as Chief Financial Officer to lead Asana’s financial strategy, planning, investor relations, and capital allocation. Introduced AI Teammates to all customers — ready-to-deploy agents assigned like team members to lead initiatives, manage approvals, and coordinate deliverables autonomously alongside humans. Ranked #1 Most Innovative Company in the Workplace category by Fast Company, validating that AI agents should be shared teammates embedded in how real teams work. Received the Google Cloud Partner of the Year award, underscoring Asana’s position as a strategic enterprise partner for connecting work management with the broader Google ecosystem. Named the only vendor to earn Customers' Choice distinction in both Gartner Voice of the Customer reports for Collaborative Work Management and Adaptive Project Management and Reporting. Recognized global customers through 2026 Work Innovation Award winners for leveraging Asana and AI to automate workflows, increase productivity, and drive measurable business results across industries. Expanded customer engagement through Asana on Tour events in Boston, Los Angeles, and Dallas, providing hands-on education and best practice sharing to help organizations deepen product adoption, learn new workflows, and maximize platform value. Financial Outlook For the second quarter of fiscal 2027, Asana expects: Revenues of $213 million to $215 million, representing year-over-year growth of 8.2% to 9.2%, inclusive of an expected contribution of approximately 50 basis points to growth from the StackAI acquisition. Non-GAAP operating income of $18 million to $20 million, with 8.5% to 9.3% operating margin. Non-GAAP net income per share of $0.08 to $0.09, assuming diluted weighted average shares outstanding of approximately 237 million. For fiscal 2027, Asana expects: Revenues of $855.5 million to $863.5 million, representing year-over-year growth of 8.2% to 9.2%, inclusive of an expected contribution of approximately 50 basis points to growth from the StackAI acquisition. Non-GAAP operating margin of at least 9.75%. Non-GAAP net income per share of $0.37, assuming diluted weighted average shares outstanding of approximately 239 million. These statements are forward-looking and actual results may materially differ. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause Asana’s actual results to materially differ from these forward-looking statements. A reconciliation of non-GAAP outlook measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, many of these costs and expenses that may be incurred in the future. Asana has provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for its first quarter fiscal year 2027 non-GAAP results included in this press release. Earnings Conference Call Information Asana will hold a conference call and live webcast today to discuss these results at 1:30 p.m. Pacific Time. A live webcast and replay will be available on the Asana Investor Relations webpage at: https://investors.asana.com. Forward-Looking Statements This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about our financial and operational performance, expectations related to our market opportunity, the potential and impact of AI, the expected benefits of AI Studio and AI Teammates, including our expectations regarding revenue to be generated by AI Studio and AI Teammates, our ability to execute on our current strategies, including our acquisition of StackAI, our expectations regarding our acquisition of StackAI, including the potential benefits of the acquisition, our technology and brand position, expectations regarding product launches and capabilities, our growth and expansion opportunities, Asana’s outlook for the fiscal quarter ending July 31, 2026 and the full fiscal year ending January 31, 2027, Asana’s outlook for the expected benefits of our offerings, and our market position. Forward-looking statements generally relate to future events or Asana’s future financial or operating performance. Forward-looking statements include all statements that are not historical facts and in some cases can be identified by terms such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “continue,” “could,” “potential,” “may,” “will,” “goal,” or similar expressions and the negatives of those terms. However, not all forward-looking statements contain these identifying words. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including factors beyond Asana’s control, that may cause Asana’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: Asana’s ability to achieve future growth and sustain its growth rate, Asana’s ability to attract and retain customers and increase sales to its customers, Asana’s ability to develop and release new products and services and to scale its platform, including the successful integration of AI, Asana’s ability to increase adoption of its platform through Asana’s self-service model, Asana’s ability to maintain and grow its relationships with strategic partners, the highly competitive and rapidly evolving market in which Asana participates, Asana’s international expansion strategies, and broader macroeconomic conditions. Further information on risks that could cause actual results to differ materially from forecasted results are included in Asana’s filings with the SEC, including Asana’s Annual Report on Form 10-K for the year ended January 31, 2026 and subsequent filings with the SEC. Any forward-looking statements contained in this press release are based on assumptions that Asana believes to be reasonable as of this date. Except as required by law, Asana assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. Use of Non-GAAP Financial Measures To supplement Asana’s consolidated financial statements, which are prepared and presented in accordance with GAAP, Asana utilizes certain non-GAAP financial measures to assist in understanding and evaluating its core operating performance. In this release, Asana’s non-GAAP gross margin, operating income, operating income as a percentage of revenue, operating margin, net income, basic and diluted net income per share, adjusted free cash flow, and revenues adjusted for the impact of foreign currency are not presented in accordance with GAAP and are not intended to be used in lieu of GAAP presentations of results of operations. These non-GAAP financial measures, which may be different from similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of Asana’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures which can be found in the accompanying financial statements included with this press release. Asana is presenting these non-GAAP financial measures because it believes that these non-GAAP financial measures provide useful information about its financial performance, enhance the overall understanding of Asana’s past performance and future prospects, facilitate period-to-period comparisons of operations against other companies in Asana’s industry, and allow for greater transparency with respect to important metrics used by Asana’s management for financial and operational decision-making. Asana believes the following adjustments and exclusions from its non-GAAP financial measures are useful to investors and others in assessing Asana’s operating performance due to the following factors: Stock-based compensation expenses. Although stock-based compensation is an important aspect of the compensation of our employees and executives, management believes it is useful to exclude stock-based compensation expenses to better understand the long-term performance of Asana’s core business and to facilitate comparison of its results to those of peer companies. Amortization of stock-based compensation capitalized in internal-use software. Consistent with our exclusion of stock-based compensation expenses, management believes it is useful to exclude the amortization of stock-based compensation capitalized in internal-use software in order to better understand the long-term performance of Asana’s core business and to facilitate comparison of its results to those of peer companies. Employer payroll tax associated with RSUs. The amount of employer payroll tax-related items on employee stock transactions is dependent on Asana’s stock price and other factors that are beyond its control and that do not correlate to the operation of the business. Non-cash expenses. Non-cash expenses include charges for impairment of long-lived assets. We believe the exclusion of certain non-cash items provides useful supplemental information to investors and facilitates the analysis of its operating results and comparison of operating results across reporting periods. Restructuring related costs (benefits). These charges are associated with the re-alignment of our organization to meet business needs, top strategic priorities, and key growth opportunities. We believe it is useful to exclude these expenses in order to better understand the long-term performance of our core business, to facilitate comparison of our results to those of peer companies, and to facilitate comparison over multiple periods. Acquisition-related costs. Acquisition-related costs include direct transaction costs, such as professional and advisory fees. We believe it is useful to exclude these costs to facilitate the comparison of our financial results to those of peer companies, and to facilitate comparison over multiple periods. Revenues adjusted for the impact of foreign currency. Calculated by applying the comparative prior period average exchange rates to revenue recognized on invoices billed in currencies other than United States dollars in the current period. Asana provides revenues adjusted for the impact of foreign exchange rates as a framework for assessing how our underlying business performed from period to period, excluding the effects of foreign currency fluctuations. The growth rates for revenues adjusted for the impact of foreign currency are calculated by comparing the revenues adjusted for the impact of foreign currency in the current period to the GAAP revenue from the comparable prior period. There are a number of limitations related to the use of non-GAAP financial measures as compared to GAAP financial measures, including that the non-GAAP financial measures exclude stock-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense in Asana’s business and an important part of its compensation strategy. In addition to the non-GAAP financial measures outlined above, Asana also uses the non-GAAP financial measure of adjusted free cash flow, which is defined as free cash flow plus costs paid related to restructuring. Asana believes adjusted free cash flow is an important liquidity measure of the cash that is available, after capital expenditures and operational expenses, for investment in its business and to make acquisitions. Asana believes that adjusted free cash flow is useful to investors as a liquidity measure because it measures Asana’s ability to generate or use cash. There are a number of limitations related to the use of adjusted free cash flow as compared to net cash from operating activities, including that adjusted free cash flow excludes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made. Definitions of Business Metrics Customers spending $5,000 or more on an annualized basis, or Core customers We define customers spending $5,000 or more, which we also refer to as Core customers, as those organizations on a paid subscription plan that had $5,000 or more in annualized GAAP revenues in a given quarter, inclusive of discounts. Customers spending $100,000 or more on an annualized basis We define customers spending $100,000 or more as those organizations on a paid subscription plan that had $100,000 or more in annualized GAAP revenues in a given quarter, inclusive of discounts. Dollar-based net retention rate Asana’s reported dollar-based net retention rate equals the simple arithmetic average of its quarterly dollar-based net retention rate for the four quarters ending with the most recent fiscal quarter. Asana calculates its dollar-based net retention rate by comparing its revenues from the same set of customers in a given quarter, relative to the comparable prior-year period. To calculate Asana’s dollar-based net retention rate for a given quarter, Asana starts with the revenues in that quarter from customers that generated revenues in the same quarter of the prior year. Asana then divides that amount by the revenues attributable to that same group of customers in the prior-year quarter. Current period revenues include any upsells and are net of contraction or attrition over the trailing 12 months, but exclude revenues from new customers in the current period. Asana expects its dollar-based net retention rate to fluctuate in future periods due to a number of factors, including the expected growth of its revenue base, the level of penetration within its customer base, its ability to retain its customers, and the macroeconomic environment. About Asana Asana is the operating system for human-agent teams. Built on the Enterprise Work Graph and 18 years of multiplayer architecture, Asana is where an organization’s humans and agents run critical workflows together - from a shared plan, with shared memory, all under enterprise-grade governance. Learn more at asana.com. Disclosure of Material Information Asana announces material information to its investors using SEC filings, press releases, public conference calls, and on its investor relations page of Asana’s website at https://investors.asana.com. Asana uses these channels, as well as social media, including its X (formerly Twitter) account (@asana), its blog (blog.asana.com), its LinkedIn page (www.linkedin.com/company/asana), its Instagram account (@asana), its Facebook page (www.facebook.com/asana/), Threads profile (@asana) and TikTok account (@asana), to communicate with investors and the public about Asana, its products and services and other matters. Therefore, Asana encourages investors, the media and others interested in Asana to review the information it makes public in these locations, as such information could be deemed to be material information. ASANA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three Months Ended April 30, 2026 2025 Revenues $ 205,095 $ 187,267 Cost of revenues(1) 25,414 19,227 Gross profit 179,681 168,040 Operating expenses: Research and development(1) 66,089 75,127 Sales and marketing(1) 92,464 99,841 General and administrative(1) 36,368 36,976 Total operating expenses 194,921 211,944 Loss from operations (15,240 ) (43,904 ) Interest income and other income (expense), net 2,903 5,830 Interest expense (649 ) (791 ) Loss before provision for income taxes (12,986 ) (38,865 ) Provision for income taxes 1,419 1,153 Net loss $ (14,405 ) $ (40,018 ) Net loss per share: Basic and diluted $ (0.06 ) $ (0.17 ) Weighted-average shares used in calculating net loss per share: Basic and diluted 238,164 234,859 (1) Amounts include stock-based compensation expense as follows: Three Months Ended April 30, 2026 2025 Cost of revenues $ 504 $ 344 Research and development 18,068 24,364 Sales and marketing 8,739 14,823 General and administrative 9,011 8,636 Total stock-based compensation expense $ 36,322 $ 48,167 ASANA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) April 30, 2026 January 31, 2026 Assets Current assets Cash and cash equivalents $ 193,656 $ 199,835 Marketable securities 230,984 234,210 Restricted cash 696 418 Accounts receivable, net 73,483 110,312 Prepaid expenses and other current assets 51,664 48,573 Total current assets 550,483 593,348 Property and equipment, net 88,911 88,313 Operating lease right-of-use assets 136,236 133,422 Other assets 29,882 29,005 Total assets $ 805,512 $ 844,088 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 25,155 $ 18,822 Accrued expenses and other current liabilities 105,559 123,716 Deferred revenue, current 322,931 333,636 Operating lease liabilities, current 25,999 24,846 Total current liabilities 479,644 501,020 Deferred revenue, noncurrent 187 220 Operating lease liabilities, noncurrent 183,944 183,749 Other liabilities 4,755 4,982 Total liabilities 668,530 689,971 Stockholders' equity Common stock 2 2 Additional paid-in capital 2,343,418 2,299,616 Accumulated other comprehensive income 2,658 4,205 Accumulated deficit (2,209,096 ) (2,149,706 ) Total stockholders’ equity 136,982 154,117 Total liabilities and stockholders’ equity $ 805,512 $ 844,088 ASANA, INC. SUMMARY OF CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Three Months Ended April 30, 2026 2025 Cash flows from operating activities Net loss $ (14,405 ) $ (40,018 ) Adjustments to reconcile net loss to net cash provided by operating activities: Allowance for expected credit losses 493 1,027 Depreciation and amortization 6,052 4,963 Amortization of deferred contract acquisition costs 6,836 6,691 Stock-based compensation expense 36,322 48,167 Net accretion of discount on marketable securities (255 ) (736 ) Non-cash lease expense 4,910 4,540 Amortization of discount on revolving credit facility and term loan issuance costs 30 30 Changes in operating assets and liabilities: Accounts receivable 36,462 18,738 Prepaid expenses and other current assets (10,055 ) (8,846 ) Other assets (944 ) (714 ) Accounts payable 7,354 (1,724 ) Accrued expenses and other liabilities (15,464 ) (7,442 ) Deferred revenue (10,738 ) (12,512 ) Operating lease liabilities (6,354 ) (5,400 ) Net cash provided by operating activities 40,244 6,764 Cash flows from investing activities Purchases of marketable securities (50,043 ) (34,055 ) Maturities of marketable securities 52,515 41,000 Purchases of property and equipment (2,808 ) (638 ) Capitalized internal-use software costs (3,086 ) (2,131 ) Net cash (used in) provided by investing activities (3,422 ) 4,176 Cash flows from financing activities Repayment of term loan (2,500 ) — Repurchases of common stock (44,985 ) (14,526 ) Proceeds from exercise of stock options 686 1,257 Proceeds from employee stock purchase plan 4,874 7,746 Net cash used in financing activities (41,925 ) (5,523 ) Effect of foreign exchange rates on cash, cash equivalents, and restricted cash (798 ) 3,799 Net (decrease) increase in cash, cash equivalents, and restricted cash (5,901 ) 9,216 Cash, cash equivalents, and restricted cash Beginning of period 200,253 184,864 End of period $ 194,352 $ 194,080 ASANA, INC. Reconciliation of GAAP to Non-GAAP Data (in thousands, except percentages) (unaudited) Three Months Ended April 30, 2026 2025 Reconciliation of gross profit and gross margin GAAP gross profit $ 179,681 $ 168,040 Plus: stock-based compensation-related charges(1) 1,613 354 Non-GAAP gross profit $ 181,294 $ 168,394 GAAP gross margin 87.6 % 89.7 % Non-GAAP adjustments 0.8 % 0.2 % Non-GAAP gross margin 88.4 % 89.9 % Reconciliation of operating expenses GAAP research and development $ 66,089 $ 75,127 Less: stock-based compensation-related charges(1) (18,572 ) (25,322 ) Adjustment for: restructuring costs — (948 ) Non-GAAP research and development $ 47,517 $ 48,857 GAAP research and development as percentage of revenue 32.2 % 40.1 % Non-GAAP research and development as percentage of revenue 23.2 % 26.1 % GAAP sales and marketing $ 92,464 $ 99,841 Less: stock-based compensation-related charges(1) (8,949 ) (15,286 ) Adjustment for: restructuring costs — (831 ) Non-GAAP sales and marketing $ 83,515 $ 83,724 GAAP sales and marketing as percentage of revenue 45.1 % 53.3 % Non-GAAP sales and marketing as percentage of revenue 40.7 % 44.7 % GAAP general and administrative $ 36,368 $ 36,976 Less: stock-based compensation-related charges(1) (9,135 ) (8,862 ) Adjustment for: restructuring costs — (438 ) Less: acquisition-related costs (547 ) — Non-GAAP general and administrative $ 26,686 $ 27,676 GAAP general and administrative as percentage of revenue 17.7 % 19.7 % Non-GAAP general and administrative as percentage of revenue 13.0 % 14.8 % Reconciliation of operating loss and operating margin GAAP loss from operations $ (15,240 ) $ (43,904 ) Plus: stock-based compensation-related charges(1) 38,269 49,824 Adjustment for: restructuring costs — 2,217 Plus: acquisition-related costs 547 — Non-GAAP income from operations $ 23,576 $ 8,137 GAAP operating margin (7.4 )% (23.4 )% Non-GAAP adjustments 18.9 % 27.7 % Non-GAAP operating margin 11.5 % 4.3 % ASANA, INC. Reconciliation of GAAP to Non-GAAP Data (in thousands, except percentages and per share data) (unaudited) Three Months Ended April 30, 2026 2025 Reconciliation of net income (loss) GAAP net loss $ (14,405 ) $ (40,018 ) Plus: stock-based compensation-related charges(1) 38,269 49,824 Adjustment for: restructuring costs — 2,217 Plus: acquisition-related costs 547 — Non-GAAP net income $ 24,411 $ 12,023 Reconciliation of net income (loss) per share GAAP net loss per share, basic $ (0.06 ) $ (0.17 ) Non-GAAP adjustments to net loss 0.16 0.22 Non-GAAP net income per share, basic $ 0.10 $ 0.05 Weighted-average shares used in GAAP per share calculation, basic and diluted and non-GAAP per share calculation, basic 238,164 234,859 GAAP net loss per share, diluted $ (0.06 ) $ (0.17 ) Non-GAAP adjustments to net loss 0.16 0.22 Non-GAAP net income per share, diluted $ 0.10 $ 0.05 Weighted-average shares used in non-GAAP per share calculation, diluted 240,352 242,251 (1) Stock-based compensation-related charges include related payroll tax associated with RSUs and amortization of stock-based compensation capitalized in internal-use software. We began excluding amortization of stock-based compensation capitalized in internal-use software from our non-GAAP measures starting in the quarter ended April 30, 2026 and have presented the change prospectively as prior period amounts were immaterial. The amounts of amortization of stock-based compensation capitalized in internal-use software was $1.1 million for the three months ended April 30, 2026 and was $0.6 million for the three months ended April 30. 2025. This change has no impact on our GAAP financial results. Three Months Ended April 30, 2026 2025 Computation of free cash flow and adjusted free cash flow Net cash (used in) provided by investing activities $ (3,422 ) $ 4,176 Net cash used in financing activities $ (41,925 ) $ (5,523 ) Net cash provided by operating activities $ 40,244 $ 6,764 Less: purchases of property and equipment (2,808 ) (638 ) Less: capitalized internal-use software costs (3,086 ) (2,131 ) Free cash flow $ 34,350 $ 3,995 Plus: restructuring costs paid — 5,887 Adjusted free cash flow $ 34,350 $ 9,882 Three Months Ended April 30, 2026 2025 Computation of revenue adjusted for impact of foreign currency GAAP revenue $ 205,095 $ 187,267 Adjustment for: impact of foreign currency (1,395 ) 363 Revenue adjusted for impact of foreign currency $ 203,700 $ 187,630 View source version on businesswire.com: https://www.businesswire.com/news/home/20260527579521/en/ Eva Leung
Asana Investor Relations
ir@asana.com Frances Ward
Asana Communications
press@asana.com Original: Asana Announces First Quarter Fiscal 2027 Results

Asana Announces Fourth Quarter and Fiscal Year 2026 ResultsMarch 2, 2026 4:05 PM
Business Wire
Delivered Q4 revenue of $205.6 million, up 9% year over year

Expanded Q4 GAAP operating margin by over 17 percentage points and non-GAAP operating margin by 10 percentage points

Grew Q4 operating cash flow by 74% and adjusted free cash flow by 108% year over year

Board authorized an additional $160M for share repurchases, bringing total authorization available to approximately $200M

Asana, Inc. (NYSE: ASAN) (LTSE: ASAN), the system of action where humans and AI run work together, today reported financial results for its fourth quarter and fiscal year ended January 31, 2026.

“FY26 was a year of meaningful progress as we advanced Asana into a multi-product platform and strengthened our position as the foundational system of action layer for the Agentic Enterprise,” said Dan Rogers, Chief Executive Officer of Asana. “We exited Q4 with improving enterprise productivity, strong renewal performance, and rapid adoption of AI Studio. The expected launch of AI Teammates later this quarter marks the next phase of our AI platform, embedding agents directly into the coordinated flow of work. Our Work Graph, task-based system of action, and enterprise governance provide the persistent memory and accountability required to move agents from experimentation to trusted execution at scale.”

“In Q4, we delivered a 9 percent non-GAAP operating margin, representing a 10 percentage point improvement year-over-year, driven by continued productivity and efficiency gains across the organization, and saw continued improvement in NRR driven by strong retention among our largest customers and improving underlying usage trends,” said Sonalee Parekh, Chief Financial Officer of Asana. “Our strong foundation, combined with continued investment in our AI platform and other growth initiatives position us to drive durable, profitable growth and sustained margin expansion as we scale into the emerging Agentic Enterprise opportunity.”

Fourth Quarter Fiscal 2026 Financial Highlights

Revenues: Revenues were $205.6 million, an increase of 9% year over year.

Operating Income/Loss: GAAP operating loss was $34.0 million, or 17% of revenues, compared to GAAP operating loss of $63.6 million, or 34% of revenues, in the fourth quarter of fiscal 2025. Non-GAAP operating income was $18.2 million, or 9% of revenues, compared to non-GAAP operating loss of $1.7 million, or 1% of revenues, in the fourth quarter of fiscal 2025.

Net Income/Loss: GAAP net loss was $32.2 million, compared to GAAP net loss of $62.3 million in the fourth quarter of fiscal 2025. GAAP net loss per share was $0.14, compared to GAAP net loss per share of $0.27 in the fourth quarter of fiscal 2025. Non-GAAP net income was $19.9 million, compared to non-GAAP net loss of $0.4 million in the fourth quarter of fiscal 2025. Non-GAAP diluted net income per share was $0.08, compared to non-GAAP net loss per share of $0.00 in the fourth quarter of fiscal 2025.

Cash Flow: Cash flows from operating activities were $27.6 million, compared to $15.9 million in the fourth quarter of fiscal 2025. Adjusted free cash flow was $25.7 million, compared to $12.3 million in the fourth quarter of fiscal 2025.

Fiscal 2026 Financial Highlights

Revenues: Revenues were $790.8 million, an increase of 9% year over year.

Operating Income/Loss: GAAP operating loss was $197.3 million, or 25% of revenues, compared to GAAP operating loss of $266.7 million, or 37% of revenues, in fiscal 2025. Non-GAAP operating income was $56.7 million, or 7% of revenues, compared to non-GAAP operating loss of $40.8 million, or 6% of revenues, in fiscal 2025.

Net Income/Loss: GAAP net loss was $189.0 million, compared to GAAP net loss of $255.5 million in fiscal 2025. GAAP net loss per share was $0.80, compared to GAAP net loss per share of $1.11 in fiscal 2025. Non-GAAP net income was $65.0 million, compared to non-GAAP net loss of $29.6 million in fiscal 2025. Non-GAAP diluted net income per share was $0.27, compared to non-GAAP net loss per share of $0.13 in fiscal 2025.

Cash Flow: Cash flows from operating activities were $90.4 million, compared to $14.9 million in fiscal 2025. Adjusted free cash flow was $84.5 million, compared to $2.6 million in fiscal 2025.

Business Highlights

The number of Core customers, or customers spending $5,000 or more on an annualized basis, grew to 25,928 in Q4, an increase of 8% year over year. Revenues from Core customers in Q4 grew 10% year over year.

The number of customers spending $100,000 or more on an annualized basis in Q4 grew to 817, an increase of 13% year over year.

Overall dollar-based net retention rate in Q4 was 96%.

Dollar-based net retention rate for Core customers in Q4 was 97%.

Dollar-based net retention rate for customers spending $100,000 or more on an annualized basis in Q4 was 96%.

Announced Asana Gov, a FedRAMP-in-process platform that helps government agencies, regulated industries, and public sector partners manage complex programs, meet compliance standards, and collaborate securely.

Appointed Prachi Gore as Chief Marketing Officer to execute on a marketing vision that positions Asana as a leader in the agentic enterprise.

Expanded Asana integrations across multiple major AI platforms. This includes the Asana app in Claude which enables teams to turn brainstorms and conversations into structured work in Asana, complete with projects, portfolios, tasks, and owners.

Introduced timesheets and budgets add-ons for teams to easily track time, manage costs, and allocate resources to ensure projects stay on track.

Named as one of the fastest-growing technology companies in North America by the Deloitte 2025 Technology Fast 500™ list.

Additional Highlights

Our Board of Directors increased our share repurchase authorization by $160 million. Asana has close to $200 million available for future repurchases under the program.

Appointed Kevin Knieriem as Chief Revenue Officer to lead global revenue operations, bringing a proven track record of scaling enterprise SaaS businesses and aligning product-led and sales-led growth strategies.

Financial Outlook

For the first quarter of fiscal 2027, Asana expects:

Revenues of $202.5 million to $204.5 million, representing year over year growth of 8.1% to 9.2%.

Non-GAAP operating profit of $15 million to $17 million, with 7.4% to 8.3% non-GAAP operating margin.

Non-GAAP net income per share of $0.07 to $0.08, assuming diluted weighted average shares outstanding of approximately 241 million.

For fiscal 2027, Asana expects:

Revenues of $850 million to $858 million, representing year over year growth of 7.5% to 8.5%.

Non-GAAP operating margin of at least 9.5%.

Non-GAAP net income per share of $0.36 to $0.37, assuming diluted weighted average shares outstanding of approximately 243 million.

These statements are forward-looking and actual results may materially differ. Refer to the “Forward-Looking Statements” section below for information on the factors that could cause Asana’s actual results to materially differ from these forward-looking statements.

A reconciliation of non-GAAP outlook measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, many of these costs and expenses that may be incurred in the future. Asana has provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for its fourth quarter and fiscal year 2026 non-GAAP results included in this press release.

Earnings Conference Call Information

Asana will hold a conference call and live webcast today to discuss these results at 1:30 p.m. Pacific Time. A live webcast and replay will be available on the Asana Investor Relations webpage at: https://investors.asana.com.

Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about our market opportunity, the potential and impact of AI, the expected benefits of AI Studio, including our expectations regarding revenue to be generated by AI Studio, our ability to execute on our current strategies, our technology and brand position, expectations regarding product launches and capabilities, our anticipated performance of new personnel, Asana’s outlook for the fiscal quarter ending April 30, 2026 and the full fiscal year ending January 31, 2027, Asana’s outlook for the expected benefits of our offerings, and our market position. Forward-looking statements generally relate to future events or Asana’s future financial or operating performance. Forward-looking statements include all statements that are not historical facts and in some cases can be identified by terms such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “continue,” “could,” “potential,” “may,” “will,” “goal,” or similar expressions and the negatives of those terms. However, not all forward-looking statements contain these identifying words. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including factors beyond Asana’s control, that may cause Asana’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: Asana’s ability to achieve future growth and sustain its growth rate, Asana’s ability to attract and retain customers and increase sales to its customers, Asana’s ability to develop and release new products and services and to scale its platform, including the successful integration of AI, Asana’s ability to increase adoption of its platform through Asana’s self-service model, Asana’s ability to maintain and grow its relationships with strategic partners, the highly competitive and rapidly evolving market in which Asana participates, Asana’s international expansion strategies, and broader macroeconomic conditions. Further information on risks that could cause actual results to differ materially from forecasted results are included in Asana’s filings with the SEC, including Asana’s Annual Report on Form 10-K for the year ended January 31, 2025 and subsequent filings with the SEC. Any forward-looking statements contained in this press release are based on assumptions that Asana believes to be reasonable as of this date. Except as required by law, Asana assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

Use of Non-GAAP Financial Measures

To supplement Asana’s consolidated financial statements, which are prepared and presented in accordance with GAAP, Asana utilizes certain non-GAAP financial measures to assist in understanding and evaluating its core operating performance. In this release, Asana’s non-GAAP gross margin, operating income, operating income as a percentage of revenue, operating margin, net income, basic and diluted net income per share, adjusted free cash flow, and revenues adjusted for the impact of foreign currency are not presented in accordance with GAAP and are not intended to be used in lieu of GAAP presentations of results of operations. These non-GAAP financial measures, which may be different from similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of Asana’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures which can be found in the accompanying financial statements included with this press release.

Asana is presenting these non-GAAP financial measures because it believes that these non-GAAP financial measures provide useful information about its financial performance, enhance the overall understanding of Asana’s past performance and future prospects, facilitate period-to-period comparisons of operations against other companies in Asana’s industry, and allow for greater transparency with respect to important metrics used by Asana’s management for financial and operational decision-making.

Asana believes the following adjustments and exclusions from its non-GAAP financial measures are useful to investors and others in assessing Asana’s operating performance due to the following factors:

Stock-based compensation expenses. Although stock-based compensation is an important aspect of the compensation of our employees and executives, management believes it is useful to exclude stock-based compensation expenses to better understand the long-term performance of Asana’s core business and to facilitate comparison of its results to those of peer companies.

Employer payroll tax associated with RSUs. The amount of employer payroll tax-related items on employee stock transactions is dependent on Asana’s stock price and other factors that are beyond its control and that do not correlate to the operation of the business.

Non-cash expenses. Non-cash expenses include charges for impairment of long-lived assets. We believe the exclusion of certain non-cash items provides useful supplemental information to investors and facilitates the analysis of its operating results and comparison of operating results across reporting periods.

Restructuring related costs (benefits). These charges are associated with the re-alignment of our organization to meet business needs, top strategic priorities, and key growth opportunities. We believe it is useful to exclude these expenses in order to better understand the long-term performance of our core business, to facilitate comparison of our results to those of peer companies, and to facilitate comparison over multiple periods.

Revenues adjusted for the impact of foreign currency. Calculated by applying the comparative prior period average exchange rates to revenue recognized on invoices billed in currencies other than United States dollars in the current period. Asana provides revenues adjusted for the impact of foreign exchange rates as a framework for assessing how our underlying business performed from period to period, excluding the effects of foreign currency fluctuations. The growth rates for revenues adjusted for the impact of foreign currency are calculated by comparing the revenues adjusted for the impact of foreign currency in the current period to the GAAP revenue from the comparable prior period.

There are a number of limitations related to the use of non-GAAP financial measures as compared to GAAP financial measures, including that the non-GAAP financial measures exclude stock-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense in Asana’s business and an important part of its compensation strategy.

In addition to the non-GAAP financial measures outlined above, Asana also uses the non-GAAP financial measure of adjusted free cash flow, which is defined as free cash flow plus costs paid related to restructuring. Asana believes adjusted free cash flow is an important liquidity measure of the cash that is available, after capital expenditures and operational expenses, for investment in its business and to make acquisitions. Asana believes that adjusted free cash flow is useful to investors as a liquidity measure because it measures Asana’s ability to generate or use cash. There are a number of limitations related to the use of adjusted free cash flow as compared to net cash from operating activities, including that adjusted free cash flow excludes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made.

Definitions of Business Metrics

Customers spending $5,000 or more on an annualized basis, or Core customers

We define customers spending $5,000 or more, which we also refer to as Core customers, as those organizations on a paid subscription plan that had $5,000 or more in annualized GAAP revenues in a given quarter, inclusive of discounts.

Customers spending $100,000 or more on an annualized basis

We define customers spending $100,000 or more as those organizations on a paid subscription plan that had $100,000 or more in annualized GAAP revenues in a given quarter, inclusive of discounts.

Dollar-based net retention rate

Asana’s reported dollar-based net retention rate equals the simple arithmetic average of its quarterly dollar-based net retention rate for the four quarters ending with the most recent fiscal quarter. Asana calculates its dollar-based net retention rate by comparing its revenues from the same set of customers in a given quarter, relative to the comparable prior-year period. To calculate Asana’s dollar-based net retention rate for a given quarter, Asana starts with the revenues in that quarter from customers that generated revenues in the same quarter of the prior year. Asana then divides that amount by the revenues attributable to that same group of customers in the prior-year quarter. Current period revenues include any upsells and are net of contraction or attrition over the trailing 12 months, but exclude revenues from new customers in the current period. Asana expects its dollar-based net retention rate to fluctuate in future periods due to a number of factors, including the expected growth of its revenue base, the level of penetration within its customer base, its ability to retain its customers, and the macroeconomic environment.

About Asana

Asana is the system of action where humans and AI run work together so individuals work smarter, teams move faster, and organizations deliver results. Powered by the Work Graph® data model, Asana provides the context and governance that enables AI to operate inside real workflows across teams, processes, and systems. More than 180,000 organizations are building the Agentic Enterprise with Asana—including Accenture, Amazon, Anthropic, and Suzuki—connecting strategy to execution and delivering complex work at scale. Learn more at www.asana.com.

Disclosure of Material Information

Asana announces material information to its investors using SEC filings, press releases, public conference calls, and on its investor relations page of Asana’s website at https://investors.asana.com. Asana uses these channels, as well as social media, including its X (formerly Twitter) account (@asana), its blog (blog.asana.com), its LinkedIn page (www.linkedin.com/company/asana), its Instagram account (@asana), its Facebook page (www.facebook.com/asana/), Threads profile (@asana) and TikTok account (@asana), to communicate with investors and the public about Asana, its products and services and other matters. Therefore, Asana encourages investors, the media and others interested in Asana to review the information it makes public in these locations, as such information could be deemed to be material information.

ASANA, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

Three Months Ended

January 31,

Twelve Months Ended

January 31,

2026

2025

2026

2025

Revenues

$

205,570

$

188,334

$

790,806

$

723,876

Cost of revenues(1)

25,004

19,604

86,759

77,193

Gross profit

180,566

168,730

704,047

646,683

Operating expenses:

Research and development(1)

73,180

84,239

301,496

341,467

Sales and marketing(1)

100,191

102,261

406,952

419,950

General and administrative(1)

41,180

45,819

192,930

152,001

Total operating expenses

214,551

232,319

901,378

913,418

Loss from operations

(33,985

)

(63,589

)

(197,331

)

(266,735

)

Interest income and other income (expense), net

3,566

3,578

16,312

19,647

Interest expense

(793

)

(852

)

(3,148

)

(3,683

)

Loss before provision for income taxes

(31,212

)

(60,863

)

(184,167

)

(250,771

)

Provision for income taxes

1,001

1,436

4,857

4,765

Net loss

$

(32,213

)

$

(62,299

)

$

(189,024

)

$

(255,536

)

Net loss per share:

Basic and diluted

$

(0.14

)

$

(0.27

)

$

(0.80

)

$

(1.11

)

Weighted-average shares used in calculating net loss per share:

Basic and diluted

238,355

231,380

236,823

229,472

____________________

(1) Amounts include stock-based compensation expense as follows:

Three Months Ended

January 31,

Twelve Months Ended

January 31,

2026

2025

2026

2025

Cost of revenues

$

523

$

357

$

1,803

$

1,387

Research and development

24,724

27,081

106,174

115,953

Sales and marketing

11,606

15,986

58,089

64,320

General and administrative

12,923

7,145

48,777

29,611

Total stock-based compensation expense

$

49,776

$

50,569

$

214,843

$

211,271

ASANA, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

January 31, 2026

January 31, 2025

Assets

Current assets

Cash and cash equivalents

$

199,835

$

184,728

Marketable securities

234,210

282,156

Restricted cash

418

136

Accounts receivable, net

110,312

87,567

Prepaid expenses and other current assets

48,573

46,154

Total current assets

593,348

600,741

Property and equipment, net

88,313

95,836

Operating lease right-of-use assets

133,422

166,545

Other assets

29,005

28,293

Total assets

$

844,088

$

891,415

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable

$

18,822

$

9,922

Accrued expenses and other current liabilities

123,716

83,031

Deferred revenue, current

333,636

300,798

Operating lease liabilities, current

24,846

22,066

Total current liabilities

501,020

415,817

Term loan, net

—

39,291

Deferred revenue, noncurrent

220

2,005

Operating lease liabilities, noncurrent

183,749

201,733

Other liabilities

4,982

5,046

Total liabilities

689,971

663,892

Stockholders' equity

Common stock

2

2

Additional paid-in capital

2,299,616

2,059,848

Accumulated other comprehensive income (loss)

4,205

(3,851

)

Accumulated deficit

(2,149,706

)

(1,828,476

)

Total stockholders’ equity

154,117

227,523

Total liabilities and stockholders’ equity

$

844,088

$

891,415

ASANA, INC.

SUMMARY OF CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Three Months Ended

January 31,

Twelve Months Ended

January 31,

2026

2025

2026

2025

Cash flows from operating activities

Net loss

$

(32,213

)

$

(62,299

)

$

(189,024

)

$

(255,536

)

Adjustments to reconcile net loss to net cash provided by operating activities:

Allowance for expected credit losses

276

2,165

1,868

3,190

Depreciation and amortization

6,119

4,813

22,037

17,543

Amortization of deferred contract acquisition costs

7,044

6,718

27,849

25,907

Stock-based compensation expense

49,776

50,569

214,843

211,271

Net accretion of discount on marketable securities

(412

)

(864

)

(2,129

)

(5,510

)

Non-cash lease expense

4,577

4,439

18,265

17,967

Impairment of long-lived assets

—

6,785

30,716

6,785

Amortization of discount on revolving credit facility and term loan issuance costs

31

31

122

122

Changes in operating assets and liabilities:

Accounts receivable

(37,848

)

(25,271

)

(23,472

)

(4,661

)

Prepaid expenses and other current assets

(4,112

)

(4,575

)

(28,823

)

(20,427

)

Other assets

(1,192

)

194

(631

)

(4,400

)

Accounts payable

4,708

(167

)

7,317

4,443

Accrued expenses and other liabilities

8,244

18,012

3,408

6,604

Deferred revenue

28,727

20,661

31,053

31,581

Operating lease liabilities

(6,135

)

(5,356

)

(23,038

)

(19,954

)

Net cash provided by operating activities

27,590

15,855

90,361

14,925

Cash flows from investing activities

Purchases of marketable securities

(18,078

)

(67,820

)

(179,155

)

(234,448

)

Sales of marketable securities

23,436

—

23,436

—

Maturities of marketable securities

40,688

44,996

206,264

240,601

Purchases of property and equipment

(1,188

)

(1,505

)

(3,792

)

(5,569

)

Capitalized internal-use software costs

(2,226

)

(2,011

)

(9,587

)

(6,713

)

Net cash provided by (used in) investing activities

42,632

(26,340

)

37,166

(6,129

)

Cash flows from financing activities

Repayment of term loan

—

(625

)

(3,750

)

(2,500

)

Repurchases of common stock

(58,023

)

(4,485

)

(132,206

)

(78,354

)

Proceeds from exercise of stock options

2,186

5,217

5,021

9,101

Proceeds from employee stock purchase plan

—

—

13,012

13,665

Taxes paid related to net share settlement of equity awards

—

—

—

(5

)

Net cash (used in) provided by financing activities

(55,837

)

107

(117,923

)

(58,093

)

Effect of foreign exchange rates on cash, cash equivalents, and restricted cash

1,990

(1,846

)

5,785

(2,502

)

Net increase (decrease) in cash, cash equivalents, and restricted cash

16,375

(12,224

)

15,389

(51,799

)

Cash, cash equivalents, and restricted cash

Beginning of period

183,878

197,088

184,864

236,663

End of period

$

200,253

$

184,864

$

200,253

$

184,864

ASANA, INC.

Reconciliation of GAAP to Non-GAAP Data

(in thousands, except percentages)

(unaudited)

Three Months Ended

January 31,

Twelve Months Ended

January 31,

2026

2025

2026

2025

Reconciliation of gross profit and gross margin

GAAP gross profit

$

180,566

$

168,730

$

704,047

$

646,683

Plus: stock-based compensation and related employer payroll tax associated with RSUs

531

363

1,849

1,415

Non-GAAP gross profit

$

181,097

$

169,093

$

705,896

$

648,098

GAAP gross margin

87.8

%

89.6

%

89.0

%

89.3

%

Non-GAAP adjustments

0.3

%

0.2

%

0.3

%

0.2

%

Non-GAAP gross margin

88.1

%

89.8

%

89.3

%

89.5

%

Reconciliation of operating expenses

GAAP research and development

$

73,180

$

84,239

$

301,496

$

341,467

Less: stock-based compensation and related employer payroll tax associated with RSUs

(25,260

)

(27,019

)

(108,831

)

(117,916

)

Adjustment for: restructuring costs

(182

)

(2,492

)

(1,130

)

(2,492

)

Non-GAAP research and development

$

47,738

$

54,728

$

191,535

$

221,059

GAAP research and development as percentage of revenue

35.6

%

44.7

%

38.1

%

47.2

%

Non-GAAP research and development as percentage of revenue

23.2

%

29.1

%

24.2

%

30.5

%

GAAP sales and marketing

$

100,191

$

102,261

$

406,952

$

419,950

Less: stock-based compensation and related employer payroll tax associated with RSUs

(11,799

)

(16,035

)

(59,354

)

(65,269

)

Adjustment for: restructuring costs

(331

)

(1,241

)

(1,162

)

(1,241

)

Non-GAAP sales and marketing

$

88,061

$

84,985

$

346,436

$

353,440

GAAP sales and marketing as percentage of revenue

48.7

%

54.3

%

51.5

%

58.0

%

Non-GAAP sales and marketing as percentage of revenue

42.8

%

45.1

%

43.8

%

48.8

%

GAAP general and administrative

$

41,180

$

45,819

$

192,930

$

152,001

Less: stock-based compensation and related employer payroll tax associated with RSUs

(13,217

)

(7,185

)

(49,669

)

(30,089

)

Less: impairment of long-lived assets

—

(6,785

)

(30,716

)

(6,785

)

Adjustment for: restructuring costs

(837

)

(741

)

(1,275

)

(741

)

Non-GAAP general and administrative

$

27,126

$

31,108

$

111,270

$

114,386

GAAP general and administrative as percentage of revenue

20.0

%

24.3

%

24.4

%

21.0

%

Non-GAAP general and administrative as percentage of revenue

13.2

%

16.5

%

14.1

%

15.8

%

Reconciliation of operating loss and operating margin

GAAP loss from operations

$

(33,985

)

$

(63,589

)

$

(197,331

)

$

(266,735

)

Plus: stock-based compensation and related employer payroll tax associated with RSUs

50,807

50,602

219,703

214,689

Plus: impairment of long-lived assets

—

6,785

30,716

6,785

Adjustment for: restructuring costs

1,350

4,474

3,567

4,474

Non-GAAP income (loss) from operations

$

18,172

$

(1,728

)

$

56,655

$

(40,787

)

GAAP operating margin

(16.5

)%

(33.8

)%

(25.0

)%

(36.8

)%

Non-GAAP adjustments

25.3

%

32.9

%

32.2

%

31.2

%

Non-GAAP operating margin

8.8

%

(0.9

)%

7.2

%

(5.6

)%

ASANA, INC.

Reconciliation of GAAP to Non-GAAP Data

(in thousands, except percentages and per share data)

(unaudited)

Three Months Ended

January 31,

Twelve Months Ended

January 31,

2026

2025

2026

2025

Reconciliation of net income (loss)

GAAP net loss

$

(32,213

)

$

(62,299

)

$

(189,024

)

$

(255,536

)

Plus: stock-based compensation and related employer payroll tax associated with RSUs

50,807

50,602

219,703

214,689

Plus: impairment of long-lived assets

—

6,785

30,716

6,785

Adjustment for: restructuring costs

1,350

4,474

3,567

4,474

Non-GAAP net income (loss)

$

19,944

$

(438

)

$

64,962

$

(29,588

)

Reconciliation of net income (loss) per share

GAAP net loss per share, basic

$

(0.14

)

$

(0.27

)

$

(0.80

)

$

(1.11

)

Non-GAAP adjustments to net loss

0.22

0.27

1.07

0.98

Non-GAAP net income (loss) per share, basic

$

0.08

$

—

$

0.27

$

(0.13

)

Weighted-average shares used in GAAP per share calculation, basic and diluted and non-GAAP per share calculation, basic

238,355

231,380

236,823

229,472

GAAP net loss per share, diluted

$

(0.14

)

$

(0.27

)

$

(0.80

)

$

(1.11

)

Non-GAAP adjustments to net loss

0.22

0.27

1.07

0.98

Non-GAAP net income (loss) per share, diluted

$

0.08

$

—

$

0.27

$

(0.13

)

Weighted-average shares used in non-GAAP per share calculation, diluted

242,613

231,380

242,575

229,472

Three Months Ended

January 31,

Twelve Months Ended

January 31,

2026

2025

2026

2025

Computation of free cash flow and adjusted free cash flow

Net cash provided by (used in) investing activities

$

42,632

$

(26,340

)

$

37,166

$

(6,129

)

Net cash (used in) provided by financing activities

$

(55,837

)

$

107

$

(117,923

)

$

(58,093

)

Net cash provided by operating activities

$

27,590

$

15,855

$

90,361

$

14,925

Less: purchases of property and equipment

(1,188

)

(1,505

)

(3,792

)

(5,569

)

Less: capitalized internal-use software costs

(2,226

)

(2,011

)

(9,587

)

(6,713

)

Free cash flow

$

24,176

$

12,339

$

76,982

$

2,643

Plus: restructuring costs paid

1,549

—

7,493

—

Adjusted free cash flow

$

25,725

$

12,339

$

84,475

$

2,643

Three Months Ended

January 31,

Twelve Months Ended

January 31,

2026

2025

2026

2025

Computation of revenue adjusted for impact of foreign currency

GAAP revenue

$

205,570

$

188,334

$

790,806

$

723,876

Adjustment for: impact of foreign currency

(1,571

)

735

(2,822

)

624

Revenue adjusted for impact of foreign currency

$

203,999

$

189,069

$

787,984

$

724,500

View source version on businesswire.com: https://www.businesswire.com/news/home/20260227619107/en/Eva Leung

Asana Investor Relations

ir@asana.com
Frances Ward

Asana Communications

press@asana.com
Original: Asana Announces Fourth Quarter and Fiscal Year 2026 Results