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ASAN

Asana, Inc.

ASAN

Asana, Inc. • NYSE
$12.88 ▲ 3.29% (+0.41)
Market Cap $3.04 B
52w High $27.77
52w Low $11.58
Dividend Yield 0%
P/E -14.31
Volume 2.52M
Outstanding Shares 236.19M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $196.936M ▲ $226.171M ▲ $-48.36M ▼ -24.556% ▼ $-0.2 ▼ $-41.003M ▼
Q1-2026 $187.267M ▼ $211.944M ▼ $-40.018M ▲ -21.369% ▲ $-0.17 ▲ $-33.111M ▲
Q4-2025 $188.334M ▲ $232.319M ▲ $-62.299M ▼ -33.079% ▼ $-0.27 ▼ $-55.198M ▼
Q3-2025 $183.882M ▲ $224.264M ▼ $-57.326M ▲ -31.175% ▲ $-0.25 ▲ $-50.794M ▲
Q2-2025 $179.212M $236.022M $-72.189M -40.281% $-0.31 $-65.758M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $475.22M ▲ $883.157M ▲ $658.601M ▲ $224.556M ▼
Q1-2026 $470.802M ▲ $877.133M ▼ $640.829M ▼ $236.304M ▲
Q4-2025 $466.884M ▲ $891.415M ▲ $663.892M ▲ $227.523M ▼
Q3-2025 $455.313M ▼ $874.156M ▼ $634.886M ▼ $239.27M ▼
Q2-2025 $521.624M $945.376M $653.459M $291.917M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $0 ▲ $39.835M ▲ $-18.918M ▼ $-30.556M ▼ $-9.408M ▼ $38.538M ▲
Q1-2026 $-40.018M ▲ $6.764M ▼ $4.176M ▲ $-5.523M ▼ $9.216M ▲ $3.995M ▼
Q4-2025 $-62.299M ▼ $15.855M ▲ $-26.34M ▼ $107K ▲ $-12.224M ▲ $14.35M ▲
Q3-2025 $0 ▲ $-14.89M ▼ $41.516M ▲ $-48.919M ▼ $-22.767M ▼ $-16.262M ▼
Q2-2025 $-72.189M $15.858M $56K $-19.228M $-2.194M $12.76M

Five-Year Company Overview

Income Statement

Income Statement Asana’s revenue has grown steadily every year, showing that demand for its work management platform is still strong. The company maintains very high gross margins, which is typical for software and gives it good long‑term earnings potential if it can control costs. However, it is still losing money at the operating and net income levels. The size of those losses has narrowed over time, and earnings per share have improved, but the business is not yet profitable. Overall, the story here is strong growth, improving but still negative profitability, and a clear need to keep driving efficiency and scale.

Balance Sheet

Balance Sheet The balance sheet shows a business with a reasonable asset base and a meaningful, but not excessive, level of debt. Cash levels have come down from earlier peaks but remain material, providing some financial flexibility, though not a huge cushion. Shareholders’ equity has recovered from slightly negative levels a few years ago to positive territory, but it has started to drift down again as losses continue. This points to an improved but still delicate financial position: Asana is no longer in a fragile, negative‑equity state, yet it does not have a particularly thick balance‑sheet buffer and still depends on moving closer to sustained profitability.

Cash Flow

Cash Flow Asana’s cash flow trend is one of the more encouraging aspects of the story. The company used to burn a noticeable amount of cash each year, but operating cash flow has steadily improved and has recently tipped into slightly positive territory. Free cash flow has followed the same path, helped by modest capital spending needs, which is typical for a cloud software company. This suggests the core business is becoming more self‑funding and less reliant on external capital, though the margin of safety is still thin and could reverse if growth investments ramp up again or revenue slows.

Competitive Edge

Competitive Edge Asana operates in a crowded space, but it has carved out a differentiated position around structured work management rather than just simple task tracking. Its proprietary Work Graph, user‑friendly design, and strong integrations with tools like Google, Microsoft, and Slack help it stand out. The product often spreads inside organizations team by team, which creates network effects and makes switching away harder once many workflows are embedded in the platform. The company has been pushing upmarket into larger enterprises with more advanced security and administrative features, which can deepen relationships and improve retention. The main risk is intense competition from both specialized project tools and broader collaboration suites that may try to copy its features or bundle alternatives at lower apparent cost.

Innovation and R&D

Innovation and R&D Asana is clearly leaning into innovation, especially around AI and workflow intelligence. The Work Graph gives it a unique data foundation, and the company is building on this with features like Asana Intelligence, AI Studio for no‑code automation, and the newly introduced AI Teammates. These are designed to move the product from simple tracking to proactive assistance and decision support. The roadmap also emphasizes enterprise‑grade capabilities—security, compliance, reporting, and integrations with analytics and conferencing tools—which can make the platform more strategic for large customers. The trade‑off is that such heavy product and R&D investment keeps pressure on near‑term profits, so the key question is whether these innovations translate into stronger adoption, pricing power, and stickiness over time.

Summary

Overall, Asana is a high‑growth, software‑driven business that has made clear progress toward healthier cash generation but still operates with consistent accounting losses and a modest balance‑sheet cushion. Its competitive strengths lie in a differentiated data model, strong user experience, and growing enterprise focus, reinforced by deep integrations and rising switching costs. At the same time, it faces strong competition and must prove that its sizable investments in AI and advanced features can drive durable revenue growth and eventual profitability. Key things to monitor going forward are the pace of revenue growth, the trajectory of operating losses, cash flow sustainability, the success of AI‑driven products, and continued adoption among larger enterprises.

NEWS

November 25, 2025 · 4:05 PM UTC

Asana to Present at Upcoming Investor Events

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November 19, 2025 · 6:23 PM UTC

Asana Launches Asana Gov, a Secure Platform for Delivering Mission-Critical Programs

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November 3, 2025 · 4:05 PM UTC

Asana to Announce Third Quarter Fiscal Year 2026 Financial Results on Tuesday, December 2, 2025

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September 25, 2025 · 4:00 AM UTC

Asana Announces New AI Teammates: Collaborative Agents That Deliver Results

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September 24, 2025 · 9:00 AM UTC

Moveworks Announces Partnership with Asana to Deliver AI-Powered Work Automation

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