Asana, Q2 2027 Earnings Call Transcript

Revenue rose 10% to $216.4m, above guidance, with accelerating growth and improving retention. Dollar-based NRR increased across cohorts to 97% overall and 98% for Core and $100k+ customers, supported by multiproduct adoption. AI Studio and AI Teammates drove ~25% of net new ARR and are adopted by over a quarter of $100k+ customers, helping offset seat pressure and enabling usage- and outcome-based expansion. Upmarket momentum, stronger U.S. trends, and tech returning to YoY growth underpinned performance, while profitability improved to a 10% non-GAAP operating margin.

Mid-September will bring Agentic Work Management, embedding AI Teammates, AI Studio and Dash into all paid tiers with seeded requests and a shift to consumption pricing. Management expects this to deepen adoption, improve retention and add new growth vectors, but it introduces near-term revenue timing ($1.2m H2) and ~150 bps gross margin pressure, with GM exiting mid-80s. PLG headwinds persist (≈1% growth drag in Q3, 1.5% in Q4). FY27 guidance: $858.5–$863.5m revenue (≈9% growth) and ~10% operating margin; minimal FY27 revenue from new apps, with greater impact expected in FY28.