Asana Surpasses Expectations in Q2 2027, Exceeding Revenue and Profitability Targets
Asana, a leading work management platform, has announced its second quarter fiscal year 2027 results, exceeding expectations on both revenue and profitability. The company's strong performance is a testament to its continued improvement in the underlying health of the business.
In a conference call with investors, Dan Rogers, Asana's Chief Executive Officer, highlighted three key takeaways from the quarter. Firstly, the business has continued to get healthier, with growth accelerating, retention improving again, and broad-based strength across industries and geographies. Secondly, the company's AI products have created a new growth and expansion vector beyond its traditional seat-based model, with customers adopting AI Studio and AI Teammates retaining better and expanding faster than the broader customer base.
Rogers emphasized that this early validation of Asana's opportunity to build meaningful consumption and outcome-orientated revenue streams is a significant development. The company plans to bring these capabilities together as a core part of the Asana experience through its Agentic Work Management product, creating a more orchestrated execution across humans, agents, and systems.
Looking at the quarter's numbers, Asana reported revenue of $216.4 million, up 10% year-over-year and above the high end of its guidance. The company's reported net retention improved in every cohort it reports, with overall NRR improving to 97% from 96%. This improvement has been driven by broader multi-product adoption within the largest customers, creating additional paths for expansion.
The technology sector delivered a second consecutive quarter of year-over-year growth, with another expansion with a leading AI lab this quarter. Outside of tech, non-tech continues to grow faster than the company's overall growth, with Asana adding new customers across a range of industries, including one of the largest telecommunications operators in the U.S., a large insurance operator in the U.S., and an iconic American luxury jewelry brand.
Asana also saw encouraging acceleration in the U.S., where revenue grew 10% year-over-year in Q2, returning to double-digit growth for the first time in over two years. The company's strong performance is a testament to its continued investment in driving future growth and expanding its offerings into new markets.
Asana's CEO, Dan Rogers, expressed confidence in the company's strategy, stating that it gives them confidence in the investments they are making to drive future growth. The company's focus on improving the underlying health of its business has paid off, with a solid second quarter and exceeding expectations on both revenue and profitability.
With its strong performance and continued investment in driving future growth, Asana is well-positioned for long-term success. The company's commitment to innovation and expanding its offerings into new markets positions it for continued growth and expansion.
