Asana says Q2 2027 revenue rose 10%, topped guidance

On Thursday, Asana (NYSE: ASAN ) discussed second-quarter financial results during its earnings call.

The full transcript is provided below.

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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary Asana, Inc. reported Q2 fiscal 2027 revenue of $216.4 million, up 10% year over year, exceeding guidance.

The company's AI products, AI Studio and AI Teammates, contributed significantly, driving 25% of net new ARR.

Net retention rate improved to 97%, with core customer retention at 98% and large customer cohorts also showing improved metrics.

Strategic initiatives include integrating AI products into core offerings, launching new applications such as Agentic Work Management, Client Management, and Service Management.

Future outlook includes a revenue guidance of $858.5 million to $863.5 million for fiscal year 2027, with a focus on expanding AI product adoption.

Operational highlights include strong performance in the technology and U.S. markets, with significant AI-driven expansion in large accounts.

Management highlighted the transition to consumption-based AI pricing, expected to impact revenue timing but not overall growth potential.

Full Transcript OPERATOR Thank you for standing by and welcome to Asana's second quarter fiscal year 2027 earnings conference call.

Currently, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

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I would now like to hand the call over to Eva Lung, Investor Relations.

Please go ahead.

Eva Lung, Investor Relations Good afternoon and thank you for joining us on today's conference call to discuss the financial results for Asana's second quarter fiscal year 2027.

With me on today's call are Dan Rogers, our Chief Executive Officer, and Aziz Megji, our Chief Financial Officer.

Today's call will include forward-looking statements, including statements regarding the expected release and benefits of our product offerings and our expectations for revenue to be generated by those offerings, our retention and expansion opportunities, our expectation for our financial outlook including our fiscal year 2027 full-year guidance, strategic plans, our market position and growth opportunities, and our capital allocation strategy, including our stock repurchase program, among other items.

Forward-looking statements, including risks, uncertainties, and assumptions, may cause our actual results to be materially different from those expressed or implied by the forward-looking statements.

Please refer to our filings with the SEC, including our Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q, for additional information on risks, uncertainties, and assumptions that may cause actual results to differ materially from those set forth in such statements.

In addition, during today's call we will discuss non-GAAP financial measures.

These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP.

Reconciliations between GAAP and non-GAAP financial measures, and a discussion of the limitations of using non-GAAP measures versus the closest GAAP equivalents, are available in our earnings release, which is posted on our Investor Relations website at investor.asana.com.

With that, I'd like to turn the call over to Dan.

Dan Rogers, CEO We delivered a solid second quarter, exceeding our expectations on both revenue and profitability, with continued improvement in the underlying health of the business.

There's three things I want to point out this quarter.

First, the business continued to get healthier, growth is accelerating, retention is improving again, and we saw broad-based strength across industries and geographies.

Second, while still early, our AI products are creating a new growth and expansion vector beyond our traditional seat-based model.

Customers adopting AI Studio and AI Teammates are engaging more deeply, retaining better and expanding faster than the broader customer base.

We believe this gives us an early validation of our opportunity to build meaningful consumption- and outcome-oriented revenue streams.

Third, we're acting on the learnings by bringing AI Teammates, AI Studio, and Dash together as a core part of the Asana experience through our AgentIQ work management product.

We want our customers to experience these capabilities early and naturally as part of how they work every day, rather than as separate AI products that they have to discover and purchase.

And we're going to be bringing that same orchestrated execution across humans, agents, and systems with Asana Client Management, Asana Service Management, and our Command products.

So let's have a look at this quarter.