Asana, Inc. reported its financial results for the first quarter fiscal 2026, ended April 30, 2025, with total revenues of $187.267 million, a 9% increase year-over-year, exceeding the high end of its guidance. A significant milestone was the achievement of positive non-GAAP operating profitability for the first time in company history, with an operating income margin of 4%, an improvement of 1,300 basis points year-over-year.
The company's new AI Studio product demonstrated strong early momentum, surpassing $1 million in Annual Recurring Revenue (ARR) in its first quarter of general availability. Asana also reported positive adjusted free cash flow of $9.9 million, representing a 5% margin, an improvement of over 700 basis points year-over-year.
Customer metrics showed continued enterprise traction, with customers spending $100,000 or more growing 20% year-over-year to 728. A landmark $100 million, three-year renewal with a global technology leader was secured, marking the largest deal in Asana's history by total contract value, though it represented a modest downgrade on an annualized contract value basis.
For the second quarter of fiscal 2026, Asana expects revenues between $192 million and $194 million, representing 7% to 8% year-over-year growth. The company raised its full-year non-GAAP operating margin guidance to at least 5.5%, up from the prior guidance of at least 5%, anticipating sequential improvement throughout the year.
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