Asana, Inc. reported third‑quarter fiscal 2026 revenue of $201.03 million, up 9 % year‑over‑year, and adjusted earnings of $0.07 per share, beating the consensus estimate of $0.06 per share by $0.01 (a 16 % beat). The revenue beat was driven by a 12 % increase in core platform revenue and a 25 % jump in AI Studio recurring revenue, which surpassed $1 million in ARR shortly after launch. Compared with the same quarter in fiscal 2025, revenue grew from $185.5 million, and adjusted EPS rose from $0.04 to $0.07, reflecting both higher top‑line growth and disciplined cost management.
The company’s AI‑centric strategy is accelerating. AI Studio, a subscription‑based AI service, now generates over $1 million in ARR, while the newly announced AI Teammates—context‑aware agents that embed directly into existing workflows—have already delivered measurable productivity gains for early adopters. Management highlighted that the shift from seat‑based licensing to consumption‑based AI services is expanding the revenue mix toward higher‑margin, usage‑driven products, a move that underpins the company’s long‑term growth trajectory.
Margin performance improved markedly. Non‑GAAP operating income reached $16.3 million, a 16 % increase from the $13.6 million loss reported in Q3 FY25, and the company achieved its first non‑GAAP operating profit in Q1 FY26. Operating margin expanded to 8.1 % from 6.3 % year‑over‑year, driven by higher AI revenue mix and effective cost controls that offset modest increases in sales and marketing spend. CFO Sonalee Parekh noted that the company’s “first quarter of non‑GAAP operating income” signals a sustainable shift toward profitability.
Guidance was raised across the board. Full‑year fiscal 2026 revenue guidance increased to $789 million–$791 million from the prior $780 million–$790 million range, while non‑GAAP operating income guidance climbed to $52.5 million–$54.5 million from $48.5 million–$50.5 million. The company also lifted its full‑year non‑GAAP operating margin outlook to 7 %–8 %, up from 6 %–7 %. These adjustments reflect management’s confidence in continued AI adoption, stronger enterprise demand, and disciplined cost execution.
Leadership changes were also announced. COO Anne Raimondi and General Counsel Eleanor Lacey resigned effective December 31, 2025, with Katie Colendich appointed as the new General Counsel. CEO Dan Rogers emphasized that the company’s “new AI Teammates” are “very encouraging for the long‑term potential of the Asana AI platform,” underscoring the strategic focus on AI‑driven growth. While CFO Parekh acknowledged “top‑of‑funnel pressure” as a headwind, she highlighted that the company’s “efficiencies and productivity gains” are positioning it for durable, profitable growth.
Overall, Asana’s Q3 fiscal 2026 results demonstrate a clear acceleration in AI‑driven revenue, a turnaround in profitability, and a reinforced confidence in future growth, positioning the company for a stronger fiscal year ahead.
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