Asana, Inc.

asana.com

What Do They Do?

Sells work management software that helps teams and organizations plan projects, coordinate workflows, and track goals, with AI tools for work automation and collaboration.

How Do They Make Money?

Customers pay subscription fees to access Asana’s cloud-based platform, with payments covering a contractual term. The company also earns revenue from consumption-based AI products and professional services, which are not material.

FY2026 revenue

Who Are Their Customers?

Individuals, teams, and organizations across many industries use Asana. Customers start through the website and free trials, while direct sales teams expand large accounts and channel partners support customers with projects and managed services.

Do Revenues Turn Into Profits?

Not on paper. It lost $189M in FY2026, but brought in more cash than it spent: $86.6M of free cash flow.

Operating income, FY2026

−25% of revenue

▼ −26% (Loss) vs FY2025 (−$266.7M, −37%)

Net income, FY2026

−24% of revenue

▼ −26% (Loss) vs FY2025 (−$255.5M, −35%)

Free cash flow, FY2026

11% of revenue

▲ +825% vs FY2025 ($9.4M, 1%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q2 FY2027, the three months to Jul 31, 2026

Revenue: ▲ +10%; vs $196.9M in Q2 FY2026
Net income: ▼ −19% (Loss); vs −$48.4M in Q2 FY2026

Sep 3, 2026 Asana acquired StackAI and introduced products for human-agent teams. The acquisition extends Asana into CRMs, ERPs, and enterprise infrastructure; the company also raised its full-year revenue and operating-margin guidance.

Growing. Revenue grew 2.1x in 4 years, from $378.4M in FY2022 to $790.8M in FY2026, about 20% a year.

AI products and agent workflows The latest report adds AI Teammates and AI Studio to the work management platform, including AI agents that collaborate on work and AI workflows that automate repeatable tasks. The older report describes the platform as work management software for coordinating teams.

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