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1. Company Snapshot

1.a. Company Description

Asana, Inc., together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally.The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.It serves customers in industries, such as technology, retail, education, non-profit, government, healthcare, media, and financial services.


The company was formerly known as Smiley Abstractions, Inc.and changed its name to Asana, Inc.in July 2009.


Asana, Inc.was incorporated in 2008 and is headquartered in San Francisco, California.

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1.b. Last Insights on ASAN

Breaking News: Asana Inc announced it will release fourth quarter and fiscal year 2026 financial results on March 2 2026 after the US market close. A webcast will be held on the same day at 1:30 PM Pacific time to discuss the results. This upcoming earnings release may provide insights into the companys performance. Analysts at Goldman Sachs and Morgan Stanley currently have a hold rating on the stock. Meanwhile analysts at Canaccord Genuity have a buy rating.

1.c. Company Highlights

2. Asana's Q3 Earnings: Revenue Growth Slows, But AI-Driven Productivity Tools Shine

Asana, Inc.'s Q3 revenue was $201 million, growing 9% year over year, exceeding guidance. Non-GAAP operating income was $16.3 million or an 8% operating margin. The actual EPS came out at $0.07, beating estimates of $0.06. Free cash flow was $13.4 million, indicating the company's ability to generate cash from its operations. The revenue growth, although slowing, was accompanied by an improvement in non-GAAP operating margin and adjusted free cash flow.

Publication Date: Dec -04

📋 Highlights
  • Revenue Growth: Q3 revenue reached $201 million, a 9% YoY increase, surpassing guidance.
  • AI Product Momentum: AI Studio bookings grew sequentially, with wins at a global glassware manufacturer and European trade show operator.
  • Retention & Expansion: Core customer dollar-based net retention improved to 97%, with 10% YoY growth in core customer revenue.
  • Margin Expansion: Non-GAAP operating income of $16.3 million (8% margin) and $13.4 million free cash flow highlight disciplined profitability.

Customer Expansion and AI-Driven Growth

The company expanded with key customers, including a multinational entertainment company, two Fortune 100 healthcare service providers, and large tech sector customers. Asana's AI platform, including AI Studio and newly announced AI teammates, is designed to provide context, checkpoints, and controls. AI Studio delivered solid growth in sequential bookings, with notable wins with a global glassware manufacturer and a European trade show operator. The company's AI teammates are collaborative agents that help deliver real business outcomes, remembering, taking action, and adapting with full context on projects, goals, and team operations.

Operational Priorities and Future Guidance

Operational priorities remain focused on vertical depth, improving go-to-market execution, and disciplined, profitable growth. The company delivered strong retention amongst monthly self-service customers and significant improvement in non-GAAP operating margin and adjusted free cash flow. Asana expects Q4 revenues of $204-206 million and non-GAAP operating income of $14-16 million. For the full year, revenue guidance is updated to $789-791 million, representing 9% year-over-year growth.

Valuation and Growth Prospects

With a P/S Ratio of 4.41, the market is pricing in a certain level of revenue growth. Analysts estimate next year's revenue growth at 9.0%. The company's focus on AI-driven productivity tools and its position as an orchestration layer coordinating workflows across the enterprise could drive future growth. Asana's goal is to reaccelerate revenue growth and expand operating cash flow margins, driven by AI Studio and AI teammates. The expected margin expansion to 20% or more is driven by a 90% gross margin and operating leverage.

3. NewsRoom

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Asana to Announce Fourth Quarter and Fiscal Year 2026 Financial Results on Monday, March 2, 2026

Feb -02

Source: businesswire.com

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Asana, Inc. $ASAN Stock Holdings Increased by Hussman Strategic Advisors Inc.

Jan -28

Source: defenseworld.net

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HARBOR CAPITAL ADVISORS, INC. Buys 7,204 Shares of Asana Inc (ASAN)

Jan -20

Source: gurufocus.com

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Asana, Inc. (NYSE:ASAN) Given Consensus Recommendation of “Hold” by Brokerages

Jan -15

Source: defenseworld.net

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Sonalee Elizabeth Parekh Sells 83,656 Shares of Asana (NYSE:ASAN) Stock

Dec -25

Source: defenseworld.net

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Asana (NYSE:ASAN) COO Anne Raimondi Sells 62,165 Shares

Dec -23

Source: defenseworld.net

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Asana (NYSE:ASAN) COO Anne Raimondi Sells 22,198 Shares of Stock

Dec -23

Source: defenseworld.net

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Asana, Inc. (NYSE:ASAN) Given Consensus Recommendation of “Hold” by Brokerages

Dec -21

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.57%)

6. Segments

Work Management Software Platform

Expected Growth: 12.57%

Asana's 12.57% growth is driven by increasing adoption of remote work, digital transformation, and the need for efficient project management. The platform's scalability, customization, and integration capabilities appeal to large enterprises, while its ease of use and affordability attract SMBs. Additionally, Asana's focus on workflow automation, AI-powered task assignment, and real-time reporting further fuels its growth.

7. Detailed Products

Asana Premium

A paid version of Asana with advanced features, including custom fields, advanced reporting, and integrations with other business apps.

Asana Enterprise

A customized version of Asana for large enterprises, including advanced security, compliance, and support features.

Asana Free

A free version of Asana with limited features, ideal for small teams and personal projects.

Asana Integrations

Integrations with other business apps, including Google Drive, Slack, and Microsoft Teams.

Asana Automation

A feature that automates repetitive tasks and workflows using custom rules and triggers.

Asana Analytics

A feature that provides advanced reporting and analytics to track project progress and performance.

8. Asana, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Asana's products are highly specialized and integrated, making it difficult for substitutes to emerge. However, the project management software market is highly competitive, and substitutes may still pose a threat.

Bargaining Power Of Customers

Asana's customers are primarily businesses and organizations, which have limited bargaining power due to the company's strong brand and product offerings.

Bargaining Power Of Suppliers

Asana's suppliers are primarily technology and infrastructure providers, which have limited bargaining power due to the company's strong market position and negotiating power.

Threat Of New Entrants

The project management software market is highly competitive, and new entrants may pose a significant threat to Asana's market share. However, the company's strong brand and product offerings provide a barrier to entry.

Intensity Of Rivalry

The project management software market is highly competitive, with many established players and new entrants vying for market share. Asana faces intense rivalry from competitors such as Trello, Microsoft, and Smartsheet.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 16.14%
Debt Cost 3.95%
Equity Weight 83.86%
Equity Cost 10.02%
WACC 9.04%
Leverage 19.24%

11. Quality Control: Asana, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
CleanSpark

A-Score: 4.1/10

Value: 7.0

Growth: 5.1

Quality: 8.2

Yield: 0.0

Momentum: 3.5

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Dayforce

A-Score: 4.1/10

Value: 2.8

Growth: 7.3

Quality: 5.0

Yield: 0.0

Momentum: 4.0

Volatility: 5.3

1-Year Total Return ->

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Stock-Card
Instructure Holdings

A-Score: 4.1/10

Value: 3.7

Growth: 7.8

Quality: 3.5

Yield: 0.0

Momentum: 6.0

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
Blackbaud

A-Score: 3.6/10

Value: 6.2

Growth: 3.3

Quality: 3.2

Yield: 0.0

Momentum: 2.0

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
Bill.com

A-Score: 3.6/10

Value: 2.8

Growth: 9.4

Quality: 5.1

Yield: 0.0

Momentum: 1.5

Volatility: 3.0

1-Year Total Return ->

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Stock-Card
Asana

A-Score: 3.4/10

Value: 4.4

Growth: 6.3

Quality: 3.8

Yield: 0.0

Momentum: 3.0

Volatility: 3.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

9.25$

Current Price

9.25$

Potential

-0.00%

Expected Cash-Flows