Asana raises annual revenue outlook after Q2 beat on AI-integration momentum
ASAN•What drove the quarter
The company pointed to several result drivers:
- Customer retention - Dollar-based net retention improved in every reported cohort, with overall net retention rate of 97%.
- Upmarket growth - Accelerating growth in the upmarket segment and an increased number of large enterprise customers, according to CEO Dan Rogers.
- AI product engagement - Strong momentum and deeper engagement among customers using AI Studio and AI Teammates, according to Rogers.
Asana said it expects to build consumption- and outcome-based revenue streams alongside seats.
Q2 beat and guidance raise
Asana raised its full-year revenue and margin guidance after fiscal second-quarter results topped analyst expectations, citing AI product momentum.
- Fiscal Q2 revenue grew 10%, beating analyst expectations.
- Adjusted EPS also beat analyst expectations.
- The company raised full-year revenue guidance to $858.5 million-$863.5 million, up 9% year over year.
- Asana sees third-quarter revenue of $217 million-$219 million, up 8%-9% from a year earlier.
