Asana surges as AI-powered workflows drive earnings beat

Investing.com -- Asana, Inc. (NYSE:ASAN) shares surged 8.9% after the work management platform provider reported better-than-expected second quarter fiscal 2026 results and raised its full-year guidance, highlighting the company’s successful integration of AI capabilities into its product offerings.

The company reported adjusted earnings of $0.06 per share, exceeding analyst estimates of $0.05, while revenue reached $196.9 million, surpassing the consensus forecast of $193.04 million and representing a 10% increase YoY. The strong performance was driven by growing adoption of Asana’s AI Studio and Smart Workflows.

"Every company is looking for the productivity unlock from AI. With the Asana Work Graph and AI Studio, we bring AI workflows directly into the flow of work—so teams move faster, operate more efficiently, and deliver stronger business outcomes," said Dan Rogers, Chief Executive Officer of Asana.

Asana raised its full-year fiscal 2026 guidance, now expecting revenue between $780 million and $790 million, compared to the analyst consensus of $782 million. The company also increased its adjusted earnings forecast to $0.23-$0.25 per share, in line with analyst expectations of $0.23.

The company’s customer metrics showed steady growth, with Core customers (those spending $5,000 or more annually) increasing 9% YoY to 25,006. More impressively, customers spending $100,000 or more annually grew 19% YoY to 770.

"Q2 was a solid quarter. We delivered revenue growth above the high end of our guidance, saw NRR stabilize quarter over quarter with improvement in expansion as AI Studio ramps, and expanded non-GAAP operating margin by 16 percentage points year over year," said Sonalee Parekh, Chief Financial Officer.

For the third quarter, Asana expects revenue between $197.5 million and $199.5 million, representing 7.4% to 8.5% YoY growth, with adjusted earnings per share of $0.06 to $0.07.

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