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Asana (ASAN) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 3, 2026 · Asana (ASAN) Q2 FY27 earnings results →

Q2 FY27 Revenue up 10% year over year to $216M · 18¢ of every $1 of revenue lost · operating margin -19.0%

Asana made $216M in Q2 FY27 (+10% Y/Y). Operating margin -19.0%, net loss $39.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 3, 2026.

Revenue$216M
Year over year+10%
Operating margin-19.0%
Net earnings−$39.2M
Operating cash flow$46.0M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $216.4M in Q2 FY27, up 10% year over year and up 6% from the previous quarter.

Gross margin was 86.0%, down 3.7 points from Q2 FY26. Operating costs exceeded revenue by $41.2M, an operating margin of -19.0%. Operating expenses grew 1% against revenue growth of 10%. The quarter ended with a net loss of $39.2M, wider than the previous quarter's $14.4M loss.

Operating cash flow was $46.0M (up 16% year over year). Non-cash charges added back $6.1M of depreciation and amortization and $56.3M of share-based compensation. Working capital and other items added $22.8M. After capitalized internal-use software costs ($4.5M) and purchases of property and equipment ($1.5M), free cash flow as the company reports it was $40.0M.

Quarterly history

Asana revenue by quarterAsana revenue by quarter$188MQ4 FY25$187MQ1 FY26$197MQ2 FY26$201MQ3 FY26$206MQ4 FY26$205MQ1 FY27$216MQ2 FY27
Asana net earnings by quarterAsana net earnings by quarter−$62.3MQ4 FY25−$40.0MQ1 FY26−$48.4MQ2 FY26−$68.4MQ3 FY26−$32.2MQ4 FY26−$14.4MQ1 FY27−$39.2MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 3, 2026$216M+10%-19.0%−$39.2M$46.0M
Q1 FY2710-QMay 28, 2026$205M+10%-7.4%−$14.4M$40.2M
Q4 FY2610-KMar 13, 2026$206M+9%-16.5%−$32.2M$27.6M
Q3 FY2610-QDec 2, 2025$201M+9%-34.8%−$68.4M$16.2M
Q2 FY2610-QSep 3, 2025$197M+10%-25.1%−$48.4M$39.8M
Q1 FY2610-QJun 3, 2025$187M+9%-23.4%−$40.0M$6.8M
Q4 FY2510-KMar 18, 2025$188M+10%-33.8%−$62.3M$15.9M

Charts

Asana: revenue growth, year over year and quarter over quarterAsana: revenue growth, year over year and quarter over quarterY/YQ/Q+10%Q4 FY25+9%-1%Q1 FY26+10%+5%Q2 FY26+9%+2%Q3 FY26+9%+2%Q4 FY26+10%0%Q1 FY27+10%+6%Q2 FY27
Latest (Q2 FY27): Y/Y +10%, Q/Q +6%.
Asana: where the cash came from (+) and went (−), TTM to Q2 FY27Asana: where the cash came from (+) and went (−), TTM to Q2 FY27Buybacks−$185MOperating cash flow$130MOther investing$87.4MCash drawn (+) / kept (−)−$35.7MOther financing$10.1MCapital spending−$6.2MNet borrowing (+) / repaid (−)−$5.0MShares issued$4.3MExchange rates$350K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Asana: profit against cash, quarter by quarterAsana: profit against cash, quarter by quarterNet incomeOperating cash flow−$57.3M−$14.9MQ3 FY25−$62.3M$15.9MQ4 FY25−$40.0M$6.8MQ1 FY26−$48.4M$39.8MQ2 FY26−$68.4M$16.2MQ3 FY26−$32.2M$27.6MQ4 FY26−$14.4M$40.2MQ1 FY27−$39.2M$46.0MQ2 FY27
Latest (Q2 FY27): Net income −$39.2M, Operating cash flow $46.0M.
Asana: diluted shares by fiscal yearAsana: diluted shares by fiscal year106MFY21176MFY22200MFY23220MFY24229MFY25237MFY26
+122.7% since FY21: more shares outstanding (issuance, stock pay).
Asana in its industry: growth against margin (192 companies, SIC 7372)Asana in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYASAN (+10%, -19%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About Asana

Asana is the system of action for work, built for the Agentic Enterprise. We provide a comprehensive solution where humans and AI agents can collaborate effectively so that individuals work smarter, teams move faster, and organizations deliver results. Over 180,000 paying customers across 200 countries and territories us e Asana to connect their work to company goals and orchestrate mission-critical workflows like product launches, employee onboarding, resource planning, tracking company-wide strategic initiatives and more. By combining institutional memory with a governed execution surface, our platform enables organizations to orchestrate work across human and AI team members. This drives clarity, accountability, and impact across the organization from executives and department heads to the team leads, individuals, and agents delivering the work.

In its own words, from its 10-K, filed Mar 13, 2026.

Asana against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +14%. Operating margin: -19.0% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
ASAN AsanaQ2 FY27$216M+10%-19.0%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: Asana 10-Q on SEC EDGAR · CIK 1477720 · Services-Prepackaged Software

13F: who owns ASAN and who is buying

Largest holders of ASAN (13F)Largest holders of ASAN (13F)Vanguard Group$181MBlackRock$65.9MVanguard Portfolio Management LLC$64.8MArrowstreet Capital, Limited Part…$51.3MGoldman Sachs Group$45.4MD. E. Shaw$41.4MVoya Investment Management LLC$33.1MAQR Capital Management LLC$30.2MVanguard Capital Management LLC$28.5MState Street$24.3M
Funds' net buying of ASAN by quarter (13F)Funds' net buying of ASAN by quarter (13F)−$52.7M2024-09$22.9M2024-12$108M2025-03−$88.4M2025-06$12.8M2025-09$136M2025-12$112M2026-03$36.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ASAN

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：Asana（ASAN）财报

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