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Asana's AI Surge Boosts Revenue Growth
4 Sep
Summary
- Asana's Q2 revenue hit $216.4 million, a 10% year-over-year increase.
- Net retention for core customers improved to 98% in the latest quarter.
- AI products contributed 25% of net new recurring revenue.
Asana announced second-quarter fiscal 2027 results, with revenue reaching $216.4 million, a 10% increase from the previous year. This performance surpassed the upper end of the company's guidance, driven by enhanced customer retention and robust enterprise sector engagement.
CEO Dan Rogers noted the company's improving business health, with accelerated growth and strengthened retention across customer segments. Dollar-based net retention climbed to 97%, with core customers and those spending over $100,000 annually showing 98% retention.
Revenue from core customers, defined as those spending at least $5,000 annually, grew 11% year-over-year, making up 77% of quarterly revenue. The number of customers spending $100,000 or more annually saw a 16% increase.
Notably, U.S. revenue returned to double-digit growth of 10% for the first time in over two years. This resurgence was attributed to better bookings, increased AI adoption, and stronger new customer acquisition.
Asana's AI Studio and AI Teammates products accounted for about 25% of net new annual recurring revenue in the quarter. Customers adopting these AI solutions are showing deeper engagement and faster expansion, outperforming the broader customer base.
