Asana Revenue Grows 10% Amid AI Push

Asana announced its fiscal second-quarter 2027 financial results, reporting revenue of $216.4 million, marking a 10% increase from the previous year. The company also achieved a non-GAAP operating income of $21.8 million, reflecting a 10.1% operating margin. This improvement in profitability is notable, although overall dollar-based net retention stood at 97%.

The company highlighted progress in its core business segments. Core revenue grew by 11%, with the number of core customers increasing by 7% to 26,778. Notably, customers spending over $100,000 annually saw a 16% rise, reaching 890. Retention metrics also improved sequentially across all customer cohorts.

Looking ahead, Asana is preparing to launch its Agentic Work Management platform in the third quarter. This new offering will include AI Teammates, AI Studio, and Asana Dash across all paid tiers. The company intends to explore consumption-based and outcome-based revenue models alongside its traditional seat subscriptions, potentially creating new growth avenues.

However, challenges remain, particularly concerning customer retention, which is cited as a central weakness. The overall net retention rate of 97% indicates a contraction in revenue from existing customer cohorts before accounting for new customer acquisition. Furthermore, the execution risk associated with new agentic pricing models and the competitive landscape for AI tools present potential hurdles.